Plastic Additives Market worth USD 32,314.4 million by 2027

The Market Statsville Group (MSG) publishes the new report on the "Plastic Additives Market by Type (Lubricants, Flow Improvers, Slip Additives, Processing Aids, Antistatic Additives, Pigment Wetting Agents, Antifog Additives, Filler Dispersants, Stabilizers, Flame Retardants, Plasticizers, Impact Modifiers, and Other Types), by Plastic Type (Polyethylene, Polystyrene, Polyamides, Polyethylene Terephthalate, Polypropylene, Polyvinyl Chloride, Polycarbonate, and Other Plastic Types), by Application (Packaging, Consumer Goods, Construction, Automotive, and Other Applications), by Region – Global Share and Forecast to 2027". The global plastic additives market size is expected to grow from USD 24,814.1 million in 2020 to USD 32,314.4 million by 2027, at a CAGR of 4.5% during the forecast period. The demand for plastic additives is fully dependent on the demand for plastics. The growing usage of plastics is vastly dependent on the growth of the economy, increasing purchasing power, rising disposable income among consumers, and rapid urbanization. The increasing demand for plastics is expected to drive the production of plastics. This, in turn, is expected to drive the demand for plastic additives in the global market. In addition, social and cultural factors are expected to influence the demand in the market as well. The increase in the disposable incomes of Asia’s middle and upper classes results in the rising consumption of durable and non-durable goods made from polymers and chemicals.

Global Plastic Additives Market Segmentation

The overall plastic additives market has been segmented into the type, plastic-type, application, and region.

• By Type (Lubricants, Flow Improvers, Slip Additives, Processing Aids, Antistatic Additives, Filler Dispersants, Antifog Additives, Pigment Wetting Agents, Plasticizers, Stabilizers, Impact Modifiers, Flame Retardants, and Other Types)
• By Plastic Type (Polyethylene, Polystyrene, Polypropylene, Polyamides, Polyethylene Terephthalate, Polyvinyl Chloride, Polycarbonate, and Other Plastic Types)
• By Application (Packaging, Consumer Goods, Construction, Automotive, and Other Applications)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Polyethylene, by plastic type, is estimated to hold the largest market share during the forecast period

Based on plastic-type, the global plastic additives market is segmented into polystyrene, polypropylene, polyethylene, polyamides, polyvinyl chloride, polycarbonate, polyethylene terephthalate, and other plastic types. The polyethylene segment generated the highest revenue of 16.9% of the total global plastic additives market in 2020, and it is anticipated to register a significant CAGR from 2021 to 2027. Based on its density, polyethylene is found in multiple forms. While linear low-density polyethylene (LLDPE) and low-density polyethylene (LDPE) is highly preferred for electrical insulation and film packaging, high-density polyethylene (HDPE) is used for manufacturing household chemical containers and drums for various kinds of industrial packaging.

By adding hydrophilic characteristics to the polymer chain, biodegradable polyethylene additives improve plastic biodegradation. PE's biodegradability aids it in meeting the world's increasingly stringent environmental regulations. Polyethylene's inexpensive cost of production has prompted manufacturers to choose it over a variety of other polymers. Polyethylene has the lowest softening point of all the fundamental packaging polymers, which means it requires less energy to process. Compared to other polymers, high-density polyethylene provides several benefits. HDPE is easy to process, inexpensive, has an excellent moisture barrier and may make opaque packaging.

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The Asia Pacific accounts for the largest market share in the plastic additives market in 2020

Based on the regions, the global plastic additives market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, Asia Pacific accounted for the highest market share of 50.3% in the global plastic additives market and was anticipated to maintain its dominance throughout the forecast period. China has the largest economy in the Asia-Pacific area in terms of GDP. Even with the economic disruption created by the country's trade war with the United States, the country's GDP grew by roughly 6.1% in 2019. Compared to the previous year, China's economic growth rate in 2020 was predicted to be mild. China is pushing and enduring a continuous urbanization process, with 60% urbanization by 2020. Increased living space requirements in urban areas due to urbanization and the desire of middle-class urban residents to improve their living conditions may have a significant impact on the housing market, increasing the use of plastic additives in construction applications.

Moreover, India is a developing economy with a lot of potential for future market growth. The country's GDP fell to 5% in the second quarter of 2019, the lowest in five years, from 7.1% in the previous quarter. The country's growth rate has slowed due to stagnation in industrial production, greenfield investment, and flattening demand. However, the outbreak of COVID-19 further affected the economy at present. Industrial manufacturing in the country emerged as one of the high-growth sectors. The launched "Make in India" program is an opportunity for the country to make it a manufacturing hub by helping the country become the fifth largest manufacturing hub by the end of 2020. However, ongoing COVID-19 has negatively impacted the growth, and it is also expected to impact the market for plastic additives during the short term.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the plastic additives market. It also consists of the profiles of leading companies such as Clariant Ltd., Axel Plastics Research Laboratories Inc., Chemtura Corporation, Exxon Mobil Corporation, Bayer AG, Kaneka Corp., DOW Plastic Additives, LANXESS AG, and Zeon Chemicals L.P. These market players have focused on acquisitions and expansion to gain a larger market share in the plastic additives market.

Browse complete report: https://www.marketstatsville.com/plastic-additives-market

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