Plastic Additive Market (Types - Plasticizers, Stabilizers, Flame Retardants, Impact Modifiers, and Others; Function - Modifiers, Property Stabilizers, Property Extenders, and Processing Aids; Application - Packaging, Automotive, Consumer Goods, Construction, Manufacturing Processes, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

A recent report published by Infinium Global Research on the plastic additive market provides an in-depth analysis of segments and sub-segments in the global as well as the regional plastic additive market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional plastic additive market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global plastic additive market. According to the report, the global plastic additive market is projected to reach USD 63.48 billion by 2027 from USD 45.85 billion in 2021, growing at a CAGR of 5.57% over the forecast period of 2021-2027.

Market Insight

Plastic additives are added to a polymer during reaction in the final stages for processing polymer/plastic production. It offers strength, shine, durability, and heat sensitivity as additives help in improving the characteristics of polymers. The product doesn’t wrap up even if it is being subjected to high temperatures. As it has more mass it makes the product more durable and long-lasting. Plastic additives are being used to improve the properties of plastics required for plastic products. They are widely being used in function type Stabilizers, processing aids, modifiers, and various other industrial applications. Some of the applications of plastic additives are roofing, storage containers, pipes, cables, electronics, toys, kitchenware, safety gear, door panels, greenhouse films, and silage sheets. Additives boost the property of plastics and make them safer, cleaner, tougher, heat and UV resistant, and antimicrobial

Rapidly increasing usage of plastics in industrial manufacturing, construction, automotive and mechanical engineering coupled with increasing cost of natural metal are the major factors driving the growth of plastic additives market. Plastic additives are being majorly used as property modifiers to improve the quality of products such as Electric and Electronic housings, Printed circuit boards, Upholstered furniture, Wires and cables, Transportation, and Construction industry. In addition, increasing costs of natural metals has increased preferences for plastic additives. Moreover, augmented household applications and lower cost of plastic products are likely to boost the growth of this market over the forecast period. On the other hand, the global plastic additives market is restrained by stringent government regulation on limited usage of plastic and environmental policies. The growth of this market is likely to be hampered due to introduction of bans and regulatory obligations in recent years on usage of wide range of plastic additives. Going forward, consistently increasing application of plastic additives is likely to increase opportunities to the players in this market over the forecast period.

Among the regions, Asia Pacific accounted for the largest share in the global Plastic Additives Market. The rapid industrialization across the region and growing demand for plastic additives from industries in China and India is a key factor driving the growth of the market. Further, increasing industrial output, economic growth in India, China, Indonesia and Malaysia and rapidly growing packaging industry across the region are expected to drive the dominance of the Asia Pacific region over the forecast period. Nevertheless, North America will be the most promising region after APAC. Rising packaging industry coupled with increasing adoption of plastic products are the factors likely to drive the growth of plastic additive market over the forecast period across the region

Segment Covered

The report on global plastic additive market covers segments such as types, function, and application. On the basis of types, the sub-markets include plasticizers, stabilizers, flame retardants, impact modifiers, and others. On the basis of function, the sub-markets include modifiers, property stabilizers, property extenders, and processing aids. On the basis of application, the sub-markets include packaging, automotive, consumer goods, construction, manufacturing processes, and others.

Companies Profiled:

The report provides profiles of the companies in the market such as Akzo Nobel NV, Albemarle Corporation, Amfine Chemical Corporation, BASF SE, Chemtura Corporation, Croda International pl, Dow Chemical Company, PMC Global Incorporated, Eastman Chemical Company, and Evonik Industries AG.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of plastic additive market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.