According to a new market report published by Lucintel, the future of the plastic additive market looks attractive with opportunities in the construction, packaging, consumer goods, and automotive industries. The global plastic additive market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $48.5 billion by 2025 with a CAGR of 1% to 3% from 2020 to 2025. The major growth drivers for this market are increasing demand for plastics in various end use markets and increasingly stringent safety standards for smoke and flammability.
Browse 125 market data tables and 135 figures spread through 242 pages and in-depth TOC on “Plastic Additive Market"
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In this market, plasticizers, flame retardants, pigments, stabilizers, impact modifiers, antioxidants, blowing agents, lubricants, antistatic agents, and other additives are used to modify and enhance the end use properties of wide range of plastics. Lucintel forecasts that plasticizer will remain the largest additive type over the forecast period supported by growth in demand for flexible polyvinyl chloride (PVC) plastic in film & sheet, wire & cable, and flooring applications. Lucintel predicts that the flame retardant additive is expected to witness the highest growth during the forecast period due to more stringent fire safety standards and growth in the markets of construction and electrical & electronics.
Within the plastic additive market, construction will remain the largest end use industry during the forecast period due to increasing demand for plastics in construction; these include pipes and fittings, flooring, wall-coverings, and wire and cable applications. Lucintel predicts that the demand for plastic additives for packaging end use is likely to experience the highest growth in the forecast period due to its growing demand in the areas of food and beverages, household products, industrial products, personal care, and pharmaceuticals.
Plastic additives are used in polyvinyl chloride (PVC), polyethylene (PE), polypropylene (PP), other commodity plastics, engineering plastics, and high performance plastics to improve the overall performance and processing properties. PVC will remain the largest segment by plastic type due to high consumption of plasticizer additives in PVC for flexibility. Lucintel predicts that the high performance plastic type will witness the highest growth because of growing demand for plastics such as polyimide (PI), polyether ether ketone (PEEK), and poly-tetrafluoroethylene (PTFE) in the transportation, medical, electronics, and industrial sectors.
Asia Pacific is expected to remain the largest market by value and volume and will experience the highest growth over the forecast period supported by high consumption of plastics in China and India. China is the largest market for plastic additives due to high production of plastics considering the high domestic demand, easy availability of raw materials, low production, and labor cost.
Emerging trends, which have a direct impact on the dynamics of the industry, include the development of bio based plasticizers and growing consumption of nanopowder or nanoparticle aluminum hydroxides. Clariant, BASF SE, ExxonMobil, Akzo Nobel, and The DowDuPont, Evonik Industries, Lanxess, and Nabaltec are among the major manufactures of plastic additives.
Lucintel, the leading global strategic consulting and market research firm, has analyzed growth opportunities in the plastic additive market by product type, by end use industry, by plastic type, by function, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Plastic Additive Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the plastic additive market by product type, by end use industry, by plastic type, by function, and region as follows:
By Product Type [Volume (Kilotons) and $M shipment analysis for 2014 – 2025]:
Plasticizer
Flame Retardant
Pigment
Stabilizer
Impact modifier
Antioxidant
Blowing agent
Others
By End Use Industry [Volume (Kilotons) and $M shipment analysis for 2014 – 2025]:
Construction
Packaging
Consumer Goods
Automotive
Others
By Plastic Type [Volume (Kilotons) and $M shipment analysis for 2014 – 2025]:
Polyvinyl Chloride (PVC)
Polyethylene (PE)
Polypropylene (PP)
Other Commodity Plastics
Engineering Plastics
High Performance Plastics
By Function [Volume (Kilotons) and $M shipment analysis for 2014 – 2025]:
Property Modifiers
Property Stabilizers
Property Extenders
Processing Aids
By Region [Volume (Kilotons) and $M shipment analysis for 2014 – 2025]:
North America
Europe
Western Europe
Eastern Europe
Asia Pacific
The Rest of the World
This 242-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/plastic-additive-market.aspx or helpdesk@lucintel.com.
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