Plastic Additives Market Analysis | 2023-2028

Plastic Additives Market Analysis | 2023-2028

Plastic Additives Market Analysis | 2023-2028
Report code - SRAM541 Delivery - 2 Weeks
Plastic Additives Market Size, Share, Trends, Dynamics, Forecast, & Growth Analysis: 2 See more...

Market Insights

The plastic additives market was estimated at USD 47.76 billion in 2022 and is likely to grow at a CAGR of 5.46% during 2023-2028 to reach USD 65.94 billion in 2028.

Plastic-Additives-Market-Insights

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Market Dynamics

Introduction

Plastic additives are materials that are added to increase performance and other characteristics such as shine, durability, and strength. There are different types of additives such as plasticizers, stabilizers, flame retardants, impact modifiers, and others. These additives are added to provide better performance and fulfill certain product requirements.

Market Drivers

Several factors influence the growth and development of the plastic additives market. Some of the key factors are as follows:

  • The growing need for plastics across a variety of sectors, including packaging, automotive, construction, and electronics.
  • Advancements in plastic technology and the need for innovative, high-performance plastic items.
  • Increasing need for environmentally friendly plastic solutions due to rising environmental concerns and strict regulations.
  • Plastic additives are widely used in the automobile sector.
  •  Increasing demand for high-quality products and consumer awareness.
  • The world's development, rising population, and e-commerce tendencies contribute to the industry's enormous expansion.

Overall, the demand for enhanced plastic performance, regulatory requirements, industry-specific requirements, and technical improvements are what drive the plastic additives market.

Key Players

The following are the key players in the plastic additives market:

  • Bayer AG
  • Kaneka Corporation
  • AkzoNobel NV
  • Albemarle Corporation
  • BASF SE
  • Clariant AG
  • Evonik Industries AG
  • Lanxess AG
  • Songwon Industrial Co., Ltd.
  • The DOW Chemical Company

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

Segment Analysis

Segmentations

List of Sub-Segments

Segments with High Growth Opportunity

Product Type Analysis

Plasticizers, Stabilizers, Flame Retardants, Impact Modifiers, and Others

Plasticizers segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period.

Plastic Type Analysis

Commodity Plastics, Engineering Plastics, and High-Performance Plastics

Commodity plastics segment is expected to remain dominant during the forecast period.

Application Type Analysis

Packaging, Construction, Consumer Goods, Automotive, and Others

Packaging segment leads the market during the forecast period.

Regional Analysis

North America, Europe, Asia-Pacific, and Rest of the World

Asia-Pacific is estimated to be the largest as well as the fastest-growing market during the forecast period.

By Product Type

"Plasticizers segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period"

The market is segmented into plasticizers, stabilizers, flame retardants, impact modifiers, and others. The plasticizers segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period. The growth of the segment can be attributed to plasticizers being economical as compared to other additives. They are generally mixed with polymers or PVC to impart unique technological and physical properties for usage in various applications, such as floor & wall coverings, coating fabrics, and cable jacketing.

By Plastic Type

"Commodity plastics segment is expected to remain dominant during the forecast period"

The market is segmented as commodity, engineering, and high-performance plastics. The commodity plastics segment is expected to remain dominant during the forecast period. Polyethylene (PE), polypropylene (PP), polystyrene (PS), polyvinyl chloride (PVC), polymethyl methacrylate (PMMA), polyphenylene ethers (PPE), and others are the materials used to render specific resin properties to process polymers. Polyethylene (PE) is majorly used in a number of applications, such as general plastic films, packaging bags, medical packaging, greenhouse & tunnel films, pipes, and mulch films.

Plastic-Additives-Market-Segment-Analysis-By-Plastic-Type

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By Application Type

"Packaging segment leads the market during the forecast period"

The plastic additives market is segmented as packaging, construction, consumer goods, automotive, and others. The packaging segment leads the market owing to changes in living standards and globalization, which are accelerating the demand for plastic additives. Some other common applications are electronics, kitchenware, toys, storage containers, cables, and pipes, which are contributing to the growth of the segment.

Regional Analysis

"Asia-Pacific is estimated to be the largest as well as the fastest-growing market during the forecast period"

Asia-Pacific is estimated to be the largest as well as the fastest-growing market for plastic additives during the forecast period, with China, Japan, and India being the major countries of the region. The increasing usage of polymers in developing economies is driving the market for plastic additives in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

Plastic-Additives-Market-Regional-Analysis

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Research Methodology

  • This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s functional plastic additives market realities and future market possibilities for the forecast period.
  • The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
  • The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
  • This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
  • More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
  • We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis.
  • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
  • Market trend and forecast analysis.
  • Market segment trend and forecast.
  • Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
  • COVID-19 impact and its recovery curve
  • Attractive market segments and associated growth opportunities.
  • Emerging trends.
  • Strategic growth opportunities for the existing and new players.
  • Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The plastic additives market is segmented into the following categories:

By Product Type

  • Plasticizers
  • Stabilizers
  • Flame Retardants
  • Impact Modifiers 
  • Others

By Plastic Type

  • Commodity Plastics
  • Engineering Plastics
  • High-Performance Plastics

 By Application Type

  • Packaging 
  • Construction 
  • Consumer Goods 
  • Automotive 
  • Others 

By Region

  • North America (Country Analysis: the USA, Canada, and Mexico) 
  • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
  • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
  • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

  • Detailed profiling of additional market players (up to 3 players)
  • SWOT analysis of key players (up to 3 players)

Market Segmentation

  • Current market segmentation of any one of the plastic types by application type.  

Competitive Benchmarking

  • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

Frequently Asked Questions (FAQs)

Plastic additives are materials that are added to increase performance and other characteristics such as shine, durability, and strength. There are different types of additives such as plasticizers, stabilizers, flame retardants, impact modifiers, and others. These additives are added to provide better performance and fulfill certain product requirements.

The plastic additives market was estimated at USD 47.76 billion in 2022.

The plastic additives market is likely to reach USD 65.94 billion in 2028.

The plastic additives market is likely to grow at a CAGR of 5.46% during 2023-2028.

Akzonobel NV, Albemarle Corporation, Bayer AG, BASF SE, Clariant AG, Evonik Industries AG, Kaneka Corporation, Lanxess AG, Songwon Industrial Co., Ltd., and The DOW Chemical Company are among the key players in the market.

Asia-pacific is expected to be the largest market during the next five years.

The plasticizers segment is expected to remain dominant in the market in the coming years.

The growth in demand for plastic additives is due to the replacement of conventional materials with plastics in various applications and their capability to increase the performance of polymers.

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