The market size of global plastic additive market was valued over USD 38.50 billion in 2015 and it is projected to grow with a CAGR between 4.9% and 5.0% during the forecast period of 2016-2022 to surpass USD 55 billion by 2022. Plastic additives are chemical added polymers which are used to enhance the end user properties of plastic. The polymers used in the plastic are mixed with monomeric units and are not in their pure form, but are harmless. These monomers i.e monomeric units are known as plastic additives and are classified as reinforcing fibers, coupling agents, stabilizers, colorants, fillers, processing aids, flame retardants, peroxides and antistatic agents. Plastic additives majorly aim to improve the processing characteristics and properties of plastic and to enhance end user performance. Furthermore, plastic additives facilitate safe handling during the manufacturing of finished products.
Rapidly increasing usage of plastics in industrial manufacturing, construction, automotive and mechanical engineering coupled with increasing cost of natural metal are the major factors driving the growth of plastic additives market. Increasing costs of natural metals has increased preferences for plastic additives. Moreover, augmented household applications and lower cost of plastic products are likely to boost the growth of this market over the forecast period. On the other hand, the global plastic additives market is restrained by stringent government regulation on limited usage of plastic and environmental policies. Due to introduction of bans and regulatory obligations in recent years on usage of wide range of plastic additives is likely to hamper the growth of this market over the forecast period. Going forward, consistently increasing application of plastic additives is likely to increase opportunities to the players in this market over the forecast period.
The report segments the global market plastic additives market by additives type, by function, by application and by region. Market segmentation based on types of additives includes plasticizers, stabilizers, flame retardants, impact modifiers, and others. Plasticizers registered major market share of the plastic additive market and is largely used to process polymers and are less expensive than other additives. On the basis of function market is segmented into property modifiers, property stabilizers, property extenders and processing aids, while the application segment comprises packaging, automotive, consumer good, construction, manufacturing processes and others.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. APAC was the largest plastic additives market and accounted market share of more than 35%. Moreover, increasing industrial output, economic growth in India, China, Indonesia and Malaysia and rapidly growing packaging industry across the region are expected to drive the dominance of APAC over the forecast period. Nevertheless, Europe is the most promising region after APAC and is anticipated to witness fastest CAGR of XX% over the forecast period. Rising automotive industry coupled with increasing adoption of plastic products are the factors likely to drive the growth of plastic additive market over the forecast period across the region.
The companies covered in the report includes
Akzo Nobel NV
Amfine Chemical Corporation
Croda International plc
Dow Chemical Company
EI DuPont de Nemours
Eastman Chemical Company
Evonik Industries AG
Rhein Chemie Rheinau
PMC Global Incorporated