Lucintel Forecasts Plastic Additive Market to Reach $47.5 Billion by 2028

Market-Research

According to the recent study the plastic additive market is projected to reach an estimated $47.5 billion by 2028 from $37.3 billion in 2023, at a CAGR of 5% from 2023 to 2028. Growth in this market is primarily driven by growing demand for replacement of conventional materials by plastics in the packaging, construction, and consumer goods markets.

A more than 150 – page report is developed to understand trends, opportunities and forecast in plastic additive market by product type (plasticizers, stabilizers, flame retardants, and impact modifiers), plastic (commodity, engineering, and high performance plastic), application (packaging, construction, consumer goods, and automotive), and region (North America, Europe, Asia Pacific, and the Rest of the World).

Download sample report by clicking on below link https://www.lucintel.com/plastic-additive-market.aspx

“Plasticizers market is expected to remain the largest segment during the forecast period.”

Based on product type, the plastic additive market is segmented into plasticizers, stabilizers, flame retardants, and impact modifiers. Lucintel forecasts that the plasticizers market is expected to remain the largest segment because it helps in enhancing the properties of plastics for a variety of applications, such as packaging, consumer goods, and chemical industries.

“Within the plastic additive market, the packaging segment is expected to remain the largest application”

Based on application the packaging segment is expected to witness the highest growth over the forecast period due to increasing use in consumer goods and industrial purposes and rapidly expanding e-commerce sector globally.

“Asia pacific will dominate the plastic additive market in near future”

Asia Pacific will remain the largest region during the forecast period due to increasing disposable income and rapid urbanization in the emerging countries coupled with growing demand for plastic additive in packaging, retail and polymer industries.

Download Brochure of this report by clicking on https://www.lucintel.com/plastic-additive-market.aspx

Major players of plastic additive market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Songwon Industrial, Albemarle, Clariant AG, BASF SE, and The Dow Chemical Company are among the major plastic additive providers.

This unique 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

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times. For further information, visit www.lucintel.com

Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056

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