Performance Additives Market Growth Analysis | 2023-2028

Market Insights

The performance additives market was estimated at USD 111.32 billion in 2022 and is likely to grow at a CAGR of 7.8% during 2023-2028 to reach USD 174.70 billion in 2028.

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Market Dynamics

Introduction

Performance additives are substances that are added to materials to improve their properties. They are used in a wide range of applications, including plastics, rubber, paints, coatings, and lubricants.

Market Drivers

The growth of the performance additives market is being driven by several factors, including:

• The increasing demand for plastics
• The growth of the automotive industry
• The need for improved fuel efficiency.

There are a wide variety of performance additives available, each with its own unique set of properties. Performance additives are an important part of many materials, and they play a vital role in improving their performance.

The growth of the performance additives market is expected to continue in the coming years as the demand for these additives continues to grow. The increasing demand for performance additives in the automotive industry is also expected to drive the growth of the market.

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Key Players

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

• BASF
• Honeywell International, Inc.
• Dow
• AkzoNobel NV
• Evonik Industries AG
• Clariant
• Altana AG
• Huntsman International LLC

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

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Segment Analysis

By Type

The performance additives market is segmented into Plastic Additives, Paint & Coating Additives, Pigment Additives, and Ink Additives. The most dominant performance additive is plastic additives, accounting for over 50% of the market. followed by paint & coating additives. The fastest-growing performance additives are pigment additives. Plastic additives are used to improve the properties of plastics, such as their strength, durability, and resistance to heat and chemicals.

By End-Use Industry Type

The market is segmented into Packaging, Household Goods, Automotive, Industrial, and Construction. Packaging is the most dominant end-use industry for performance additives, accounting for over 40% of the market. Performance additives are used in packaging to improve the properties of plastics, such as their strength, durability, and resistance to chemicals. They are also used to improve the barrier properties of plastics, which help protect food and other products from spoilage.

Regional Insights

Asia Pacific is the most dominant region for performance additives, accounting for over 40% of the market. The growth of the performance additives market in the Asia Pacific is being driven by the growth of the automotive, construction, and packaging industries in the region. North America is the second-most dominant region for performance additives, accounting for about 30% of the market. The growth of the performance additives market in North America is being driven by the growth of the automotive, industrial, and packaging industries in the region.

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Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s performance additives market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order 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 a period of 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 performance additives market is segmented into the following categories.

By Type

• Plastic Additives
• Paint & Coatings Additives
• Pigment Additives
• Ink Additives

By End-Use Industry

• Packaging
• Household Goods
• Automotive
• Industrial
• Construction

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and The Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and The Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

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Report 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 three players)
• SWOT analysis of key players (up to three players)

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 to sales@stratviewresearch.com.