5 Key Insights on US$ 80 Bn Opportunity in Global Plastic Additives Market: Ken Research

Driven by the Rising Adoption of Plastic Additives in the Packaging and Automotive Industries, the Global Market is Forecasted to Cross US$ 80 Bn by 2030 says Ken Research Study.

Chemicals used to process, alter, or polymerize polymers' final qualities are known as plastic additives. To increase the strength, heat sensitivity, and durability of these items, they are added to polymers. In many industrial applications, plastic additives are utilized in a variety of kinds, such as stabilizers, processing aids, modifiers, flame retardants, and plasticizers.

One of the key reasons for the high adoption of plastic additives is strict rules being introduced by the European Commission to control and regulate the use of chemicals and materials like plastics, due to their negative effects on the environment and human health. Ken Research shares 5 key insights on this high-opportunity market from its latest research study.

1. Superior Properties of Plastic Additives over Synthetic Fiber Composites Boost their adoption

According to Research estimates, the Global Plastic Additives Market - which was valued at around US$ 44 Bn in 2019 to nearly US$ 50 Bn by 2022 - is expected to grow further to more than US$ 80 Bn opportunity by 2030.

The mechanical and electrical qualities of plastics, especially engineering plastics, are superior to those of conventional materials like metals, glass, paper, and ceramics. It also has stronger abrasion resistance and chemical resistance due to which, plastic is replacing these conventional materials as a result of ongoing innovation and the requirement for lighter materials in several applications.

Plastic additives' applications including packaging, food, consumer goods, construction, and automotive are increasing at a rapid pace. It is anticipated that a turnaround in these important market categories and the rising demand for additives in polymers for applications in these segments will significantly fuel growth in the market growth for plastic additives.

Request For Sample Report @https://bit.ly/3TcyPRw

2. Growth of the Plastic Industry Paving a way for the Usage of Plastic Additives

Plastic is growing in popularity all across the globe which is in turn increasing the demand for plastic additives due to increasing sustainability concerns.

Plastic is widely used in both commercial and domestic applications, due to its lower cost than most raw materials like metal moldings and sheets. Customers can readily access it and fetch the benefits as it is one of the least expensive resources.

In addition, plastics are also being used more frequently in the industrial sector for a variety of purposes, like insulation. Since plastic sheets offer great protection from adverse weather, these are frequently utilized as insulators. To protect walls from temperature variations during extremely hot or cold weather, a plastic sheet is inserted between the walls to insulate containers for household or enterprise use in addition to acting as insulation in buildings.

Therefore, increased adoption of plastic aids the growth of the plastic additives market in various parts of the world.

3. Stringent Government Regulations Limit the Growth of Plastic Additives

Sales of plastic additives are anticipated to be impacted by several new restrictions and proposed limitations on the use of petroleum-based polymers. Numerous scientific investigations have backed limitations on various plastic additives, including specific types of plasticizers and flame retardants. For instance, in India, petroleum-based plastics are building up along the coast as a result of human activity, decreasing their aesthetic appeal and harming the environment.

With effect from the summer of 2004, the EU and two USA states Maine and California had enacted restrictions on items containing more than 1% of octa BDE or pentaBDE (for specific purposes in Europe).

These types of regulatory standards are restricting the use of high-value flame retardants in the USA and Europe, such as brominated and chlorinated flame retardants.

4. Increased Adoption of Plasticizers as a Plastic Additive Propels the Market Growth

Plastic is treated with plasticizers to soften and make it more flexible. The efficiency of the plasticizer rises as its molecular weight falls within a certain series of esters that share an acid group. Also, the efficiency of plasticizers increases as the linearity of the alcohol chain likewise increases.

Furthermore, low molecular weight compounds called plasticizers are added to a polymer solution to enhance its plasticity and flexibility. Consequently, the plasticizers make the polymer solution more appropriate for the application and are, therefore, being increasingly adopted in various industries like the packaging and construction sector.

Few physical properties that affect the adoption of a plasticizer (Di-n-butyl phthalate, Di-iso-octyl adipate, Iso-octyl ester of saturated C4-C6 dibasic acid, and more) in an industry application include volatility percentage, water extraction percentage, iso-octane extraction percentage, etc. based on these properties the use of plasticizer varies in specific applications.

5. Asia Pacific Holds the Largest Market Share in the Global Plastic Additives Market

Asia Pacific region is dominating the revenue share and is also expected to show high growth in the field of plastic additives market. This dominance is a result of the region's robust organic growth, particularly for polyethylene and polypropylene. In the medium to long term, it is anticipated for the plastic additives market to exhibit enticing growth rates, driven by the ongoing substitution of plastics for other materials in the Asia Pacific, especially China and India. Nearly all end-use industries employ plastic additives, and the packaging, building and construction, and automotive sectors have the highest growth potential in the region.

Request For Sample Report @https://bit.ly/3TcyPRw

Key Topics Covered in the Report

Snapshot of Global Plastic Additives Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of Global Plastic Additives Market
Historic Growth of the Overall Global Plastic Additives Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter's 5 Forces Analysis of the Global Plastic Additives Market
Overview, Product Offerings, and SWOT Analysis of Key Competitors
Covid-1919 Impact on the Overall Global Plastic Additives Market
Future Market Forecast and Growth Rates of the Total Global Plastic Additives Market and by Segments
Market Size of Plastic Type / Application Segments with Historical CAGR and Future Forecasts
Analysis of Plastic Additives Market in Major Regions
Major Production / Consumption Hubs in the Major Regions
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Major Country

Major Companies Profiled in the Report

BASF SE
The DOW Chemical Company
AkzoNobel
Clariant AG
Nabaltec
Mitsui Chemicals
LANXESS AG
Repi S.r.l.
Songwon Industrial Co. Ltd.
Albemarle Corporation
Kaneka Corporation

Notable Emerging Companies Mentioned in the Report

Baerlocher China
Nanjing Union Rubber Chemicals Co. Ltd. (NURCHEM)
Van Horn, Metz & Co., Inc.
K-Tech (India) Limited
Flamingo Additives & Colourants LLP
Deifel GmbH & Co. KG
Newos GmbH

Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing This Report

Plastic Additive Manufacturers
Packaging Manufacturers
Plastic Manufacturers
Chemical Companies
Government Ministries and Departments of Chemical Industry
Sustainability Researchers
Food Processing Companies
Vehicle Manufacturers
Construction Dealers
Commodity Plastic Manufacturers
Engineering Plastic Manufacturers
High-Performance Plastic Manufacturers
Petrochemical Companies

Time Period Captured in the Report

Historical Period: 2019-2021

Forecast Period: 2022E-2030F

For More Information on the Research Report, refer to below links: -

https://www.kenresearch.com/business-research/global-plastic-additives-market-outlook-2028/

Contact Us: -

Ken Research

Ankur Gupta, Head Marketing & Communications

support@kenresearch.com

+91-9015378249

Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India

Ken Research is a research based management consulting company. We provide strategic consultancy to aid clients on critical business perspective: strategy, marketing, organization, operations and technology transformation, advanced analytics, corporate finance, mergers & acquisitions and sustainability across all industries and geographies. We provide business intelligence and operational advisory across 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies. Some of top consulting companies and Market leaders seek our intelligence to identify new revenue streams, customer/ vendor paradigm and pain points and due diligence on competition.

This release was published on openPR.