Plastic Additives Market Industry Size, Share, Upcoming Trends, Business Growth, Competitive Landscape and Forecast to 2025
The plastic additives market is expected to witness a healthy growth, at an estimated CAGR of more than 3% over the forecast period.
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Top Key Players in the Global Plastic Additives Market: BASF SE, ExxonMobil, Evonik Industries, DowDuPont, and Nouryon, among others.
The market for plastic additives is fragmented in nature, as the top 10 leading players account for only 40% of the market. Due to the intervention of small- and medium-scale manufacturers in the additives market, the market share of global producers has constricted at huge extent.
Key Market Trends
Hospitals to Drive the Plastic Additives Market
Increasing Demand from the Packaging Industry
- The packaging industry mostly relies on polymers for the packaging and decoration of its end-user products. Factors leading to the increased application of polymers in the packaging industry are certain properties of polymers, including lightweight, availability in different colors, low reactivity, chemical, and moisture resistance, etc.
- The usage of suitable plastic additives contributes toward extended lifetime, appearance, thermal protection, clarity, low haze, and improved mechanical properties, which are the most important factors for packaging.
- Major forms of plastics used in the packaging industry are polyethylene terephthalate (PET/PETE), high-density polyethylene (HDPE), polyvinyl chloride (PVC), low-density polyethylene (LDPE), polypropylene, polystyrene, etc.
- One of the main applications of packaging is in the food and beverage industry. With the increase in the awareness toward hygiene and health among the global population, the packaging industry is also growing at a steady pace.
Latest Industry News:
BASF's plastic additives help to improve the durability of highways in India
Hong Kong SAR, China - March 3, 2020 BASF SE(OTC: BFFAF)- BASF's light stabilizers from the Chimassorb range have been used by M/s Megaplast India Pvt Ltd (Megaplast), a leading polyethylene products manufacturer in India, to produce nonwoven geotextile used in the construction of national highways. The additive package used plays a crucial role in stabilizing the production process and extending the service lifespan of the geotextiles.
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Asia-Pacific Region to Dominate the Market
- Asia-Pacific region dominated the global market share. China is one of the lucrative markets for plastic additives, due to the availability of low-cost raw materials and labor. All plastics products are made from essential polymers, mixed with a complex blend of materials, collectively known as plastic additives. China is one of the largest producers of plastic materials in the world, accounting for ~30% of the global plastics production.
- Packaging is the largest end user for the plastics industry, accounting for more than one-quarter of total plastics usage. The rapid development of e-commerce has greatly promoted the development of the packaging industry in the country. With the rise in demand for lighter, cheaper, and more convenient packaging from consumers, the packaging sector in China is set to experience rapid growth, during the forecast period, which, in turn, is expected to boost the plastic additives market.
- For roughly three decades, Chinas booming economy has offered consumer product companies some of the worlds greatest growth opportunities. Attracted by the huge potential of Chinese consumer goods market, many foreign companies have entered China and set up production units. With the growth of consumer goods production, plastic additive consumption may also see increased demand.
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What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Plastic Additives Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Finally, Plastic Additives Market report is the believable source for gaining the Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and Market development rate and figure and so on. This report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.
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All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supplychain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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