Global Automotive Plastic Additives Market Industry Trends, Estimation & Forecast, 2018 - 2025

Plastic additives have found widespread applications in construction, packaging, automotive, consumer goods, and other applications such as pharmaceutical, furniture, sports, and agriculture. The demand for plastic additives is estimated to grow on account of the increasing consumption of plastic and the rising disposable income of consumers.

High demand from the automotive and packaging industries is expected to drive the market demand in North America. Furthermore, stringent food, environmental, and medical regulations by regulatory bodies including the EPA and FDA are expected to contribute to high market demand in the coming years.

“Global Automotive Plastic Additives market is valued at USD39.8 billion in 2018 and it is expected to reach more than USD 52.2 billion by 2025, likely to grow at a CAGR of4.7% during the forecast period”
 
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On the basis of function, Property stabilizers were the leading segment in 2014, accounting for 36.6% share of the overall volume in 2014. Property stabilizers are largely used to increase stability in terms of chemical bonding and thermal and physical properties. The segment is expected to reach USD 4.3 billion by 2022.

While By product type, the flame retardants segment is expected to witness significant growth in the coming years.owing to increasing regulations regarding workplace safety. These products are increasingly utilized in the manufacturing industries to prevent fire accidents and arson incidents, owing to their thermal efficacy and heat resistance.

Asia Pacific was the largest regional market in 2017 with a revenue of USD 18.7 billion. Rising industrial output, economic growth, and increasing population in China, India, and Southeast Asia have driven the manufacturing and construction industries in the region. This has led to a high demand for plastics with application-specific property. Consumer preference for flame retardancy, high impact strength, corrosion resistance, and UV resistance in plastics is expected to drive the APAC market over the forecast period.

North America and Europe are expected to expand at a volume-based CAGR of 4.1% and 3.9% respectively over the forecast period. Developed nations such as the U.S., U.K., Germany, and France are also expected to generate high demand for plasticizers, UV stabilizers, flame retardants, and other additives.

The global market share was dominated by integrated companies providing feedstock as well as final products and supplying them to end-users such as automotive, OEMs, construction, electronics, and footwear. The market is marked by the presence of numerous producers who command a majority of the overall share. Key players with a global presence include BASF SE, SABIC, DuPont, ExxonMobil Chemical, Mitsui Chemical, The Dow Chemical Company, and Biesterfield Plastic GmbH.

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