The global market of plastic additives is anticipated to reach a value of US$ 66.6 Bn by 2032, expanding at a 4.6% CAGR over the forecast period. Significant production volume of plastic all over the globe is driving sales of the plastic additives market to improve the quality and functionality of different materials.
Expansion in the building and construction sector, rising electric vehicle production, and ongoing development in the packaging sector will augment the growth in the market. Surging demand for polyethylene, polypropylene, polyvinyl chloride and other types of plastic for packaging applications will push sales of additives.
With the increasing investment by prominent players across emerging countries, the rising inflow of foreign direct investment in the automotive and packaging sectors will bode well for the growth in the market over the forecast period.
“Growing demand for packaging materials for various applications, along with increasing production of specialty chemicals across the globe will drive sales in the market in the forthcoming years,” says an FMI analyst.
Competitive Landscape
Some of the top plastic additives manufacturers include BASF SE, Clariant AG, Albemarle Corporation, Songwon Industrial Co., Ltd., Nouryon, LANXESS AG, Evonik Industries AG, Kaneka Corporation, Dow, SABIC, Exxonmobil, Mitsui Chemicals, and Badische Anilin- und SodaFabrik SE.
Key players are focusing on expanding their production capacity to increase their global presence and to improve sales. Further, players are also investing in product innovation.
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Plastic Additive Market Segmentation
By Product Type:
- Plasticizers
- Stabilizers
- Flame Retardants
- Impact Modifiers
- Fillers and Thickeners
- Nucleating Agents
- Antioxidants
- Others
By Application:
- Packaging
- Consumer Goods
- Construction
- Automotive
- Others
By Plastic Type:
- Polyethylene
- Polypropylene
- Ethylene Vinyl Acetate
- PVC
- Polystyrene
- Polyethylene Terephthalate
- Engineering Plastic
- Thermosets
- Others
More Insights into the Plastic additive Market Report
In its latest report, Future Market Insights offers an unbiased analysis of the global plastic additive market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented based on product type, application, plastic-type, and region.