Global Plastic Additives Market is projected to grow in the coming years
The recent study, “Global Plastic Additives Market – Forecasts from 2018 to 2023”, covers in-depth analysis of the market on the basis of type, type of plastic, end-user industry, and geography. The report also covers the country level analysis within the regions as well. Additionally, the report covers the key trends in the market along with drivers and restraint during the forecast period 2018-2023. The report has segmented the plastic additives market by type (biostabilizers, antioxidants, antistatic agents, plasticizers, flame retardants, fragrances, others), type of plastic (polyethylene, polyurethanes, polyvinyl chloride (PVC), polyamide, others), end-user industry (automotive, construction, packaging, transportation, others), and geography (North America, South America, Europe, Middle East and Africa, Asia Pacific). Plastic additives are chemically added in small quantity to a host plastic in order to improve the overall performance of the polymer. The demand for the plastic additive is driven by the growing demand for high performing plastics such as PVC, PE, and Polyurethanes in a number of industrial applications. With plastic penetrating in everyday life, the demand for flexible plastic is bound to increase which in turn is expected to influence the plastic additives market growth in a positive sense. The growing need for plastic additives in healthcare applications such as medical tubing is driving the plastic additives market growth. However, growing concern regarding plastic use and plastic bans in a number of countries can restrain the growth of plastic additives.
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Plasticizers hold a significant share in the market
Plasticizers are additives that increase the plasticity or flexibility of a plastic material. It holds a significant share in the market owing to its increased use in PVC industry so as to produce flexible PVC that have a wide range of applications in construction, electrical, consumer goods, packaging, etc.
Additives for PVC plastic hold a significant share in the market
Additives for PVC plastic hold a significant share in the market as PVC industry consumes more than 70% of plasticizers, heat stabilizers and other additives to make flexible PVC that are utilized in a number of applications. The demand for PVC additives is expected to show a steady growth owing to is growing penetration in medical as well as industrial applications.
Automotive is expected to grow at a substantial rate over the forecast period
Automotive plastics are increasingly becoming popular due to the desire for lightweight and low CO2 emission vehicles. The automotive application is expected to grow at a substantial rate owing to growing automobile production across the globe.
The Asia Pacific is expected to grow at a good rate over the forecast period
The Asia Pacific plastic additives market holds a significant share in the market on account of growing plastic consumption across end-user industries such as construction, automotive, packaging and etc. With companies expanding their additives plant in countries like China, the demand for plastic additives is expected to grow at a good rate. For an instance, in June 2018, Clariant has announced the opening of two additive facilities at its site in Zhenjiang, China so as to put additives business in China on track to expand its offering of customized, high-end solutions for the plastics, coatings, and ink industries.
Some of the major players discussed in the reports are BASF SE, Arkema, DowDuPont, Evonik Industries AG, LANXESS, ADEKA CORPORATION, Wacker Chemie AG, Clariant, SABO S.p.A., and Eriez Manufacturing Co.
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