According to the latest report by IMARC Group, titled “Plastic Additives Market: Global Industry Trends, Size, Share Growth, Opportunity and Forecast 2022-2027,” The global plastic additives market reached a value of US$ 47.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 66.1 Billion by 2027, exhibiting a CAGR of 5.7% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
A plastic additive represents a chemical compound that is added to polymers for improving the physical and chemical properties of plastic products. It acts as a filler or catalyst to enhance the strength-to-weight ratio, luster, durability, corrosion resistance, heat sensitivity, etc. Some of the commonly available plastic additives include modifiers, property extenders, stabilizers, processing aids, etc. They are used for commodity, engineering, and high-performance plastics. In line with this, these additives find extensive applications in several industries, such as construction, packaging, automotive, manufacturing, etc.
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The widespread product adoption in the replacement of conventional materials, such as glass, paper, ceramic, metal, etc., used in the production of consumer goods, various textiles, agricultural and medical items, etc., is primarily driving the plastic additives market. Additionally, the growing utilization of polyethylene terephthalate (PET), polyvinyl chloride (PVC), low-density polyethylene (LDPE), and high-density polyethylene (HDPE) that are often treated with plastic additives to extend their operational life, appearance, mechanical properties, etc., is further catalyzing the market growth. Besides this, the escalating demand for disposable and reusable plastic products across the medical industry is acting as another significant growth-inducing factor. Moreover, the increasing industrial output is also positively influencing the global market. Apart from this, the introduction of 3D printing technologies is anticipated to fuel the plastic additives market over the forecasted period.
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List of Key Companies Covered in this Market Report:
- Akzonobel NV
- Albemarle Corporation
- Clariant AG
- Evonik Industries AG
- Kaneka Corporation
- Lanxess AG
- Songwon Industrial Co. Ltd
Breakup by Additive Type:
- Flame Retardants
- Impact Modifiers
Breakup by Plastic Type:
- Commodity Plastic
- Engineering Plastic
- High Performance Plastic
Breakup by Application:
- Consumer Goods
Breakup by Function:
- Property Modifiers
- Property Stabilizers
- Property Extenders
- Processing Aids
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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