The plastic additives market size reached USD 39.69 Billion in 2021 and register a revenue CAGR of 5.1% over the forecast period, according to the latest analysis by Emergen Research. Rapid urbanization has resulted in rapid growth of the building and construction industry in a number of developing countries, which is expected to continue to drive demand for plastic additives. Plastic additives enhance the performance and durability of polymers in a variety of building applications. Additives are used in paints and coatings to improve the performance of the coating film. In addition, rising demand for flame retardant additives used mostly in the interiors of buildings is further expected to drive revenue growth of the market going ahead.
The research report provides an in-depth evaluation of the Global Plastic additives Market and helps the market participants intensify their footprints in the industry. The report gives a detailed analysis concentrated on the critical market dynamics such as drivers, restraints, trends, and growth opportunities to assist businesses to prepare for any challenges they might encounter in the forecast period.
Rapid growth of the automotive industry and increasing demand for Electric Vehicles (EVs) had led to surge in sales of EVs. In 2020, about 300,000 EVs were sold, which accounted for around 2% of the U.S. new automobile market, which is expected to increase at a rapid rate. Over 70% of the plastics used in automobiles comes mainly from four polymers, which are polyamides, polyurethane, polypropylene, and PVC. Engineering thermoplastics are also used to withstand the high heat generated by EV power packs. Furthermore, polymers such as Polyether Ether Ketone (PEEK), and Polytetrafluoroethylene (PTFE) has demonstrated heat resistance and can be used as a replacement for metals while designing automotive components.
Leaching of plasticizers into the environment and concerns about non-biodegradability of plastics are some factors restraining revenue growth of the plastic additives market. Phthalic acid esters that are used as plasticizers in various products have been classified as endocrine-disrupting compounds. Moreover, according to reports, of the total plastic waste of 6.3 billion metric tons only 9% has been recycled and therefore governments of various countries are encouraging adoption of plastic alternatives. These factors are expected to restrain revenue growth of the market to some extent.
The major companies Covered in the report are:
BASF SE, Clariant AG, The Dow Chemical Company, Albemarle Corporation, Songwon Industrial Co., Ltd., ExxonMobil Chemical, DuPont de Nemours, Inc., Nouryon, Lanxess AG, Evonik Industries AG, and Kaneka Corporation
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Competitive Landscape:
The report estimates the market size in the forecast duration by studying its value, volume, market share, growth rate, and other market essentials. It gives extensive company profiles, wherein the analysts explain the expansion tactics adopted by market leaders, including both long- and short-term strategies, and other vital competitive factors of significant businesses in the global Plastic Additives market.
Scope of the study
- A holistic overview of the Plastic Additives market extending to all essential information of the said market.
- Market segmentation is done based on product types, applications, and end-user industries, among other critical factors. The market segments studied in this report include Graphene, Carbon Nanotube, Silver, Copper, and Others. The market analysis of the Plastic Additives sector is well-curated and backed by extensive research on these market segments.
- The detailed study pertaining to the Global Plastic Additives Market also sheds light on the analysis of the market position and market size.
- Additionally, the study also discusses the factors boosting the growth of the Plastic Additives market. For the extensive analysis, the report relies on authentic sources of information, primarily acquired through interviews of industry experts.
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Emergen Research has segmented the global plastic additives market on the basis of type, plastic type, and region:
- Type Outlook (Revenue, USD Billion, Volume, Kilotons, 2019–2030)
- Plasticizers
- Stabilizers
- UV Stabilizers
- Antioxidants
- Plastic Type Outlook (Revenue, USD Billion, Volume, Kilotons, 2019–2030)
- Commodity Plastics
- Polyethylene (PE)
- Polypropylene (PP)
- Polystyrene (PS)
- Polyphenylene Ethers (PPE)
- Application Outlook (Revenue, USD Billion, Volume, Kilotons, 2019–2030)
- Packaging
- Consumer Goods
- Construction
- Automotive
- Others
- Regional Outlook (Revenue, USD Billion, Volume, Kilotons, 2019–2030)
- North America
- U.S.
- Canada
- Mexico
- Germany
- U.K.
- France
- Spain
- BENELUX
- Rest of Europe
- China
- India
- Japan
- South Korea
- Rest of APAC
- Brazil
- Rest of LATAM
- Saudi Arabia
- U.A.E.
- Israel
- Rest of MEA
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Key highlights of this research report:
- This Plastic Additives report offers a comprehensive analysis of the evolving competitive dynamics.
- It provides a prospective outlook on various aspects that are driving or restraining the Plastic Additivesmarket growth.
- It provides the forecast for the next seven years analyzed to predict the way the Plastic Additives market is expected to progress.
- It gives a detailed explanation of the product segments and their potential growth.
- It aids in formulating lucrative strategies and well-informed executive decisions by providing accurate market insights and an in-depth evaluation of the Plastic Additives market segments.
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge
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