Additives Market size is projected to grow at a CAGR of 4.6% to reach USD 222.6 billion by 3030

The Market Statsville Group (MSG) publishes the new report on the "Additives Market by Product Type (Food Additives, Construction Additives, Plastic Additives, Lubricant Additives, Fuel Additives, Coating Additives, Agrochemical Additives, Medicated Feed Additives, and Others), by End-Use (Packaging, Food & Beverage, Chemical, Automotive, Aerospace, Building & Construction, Animal Husbandry, and Others), by Region - Global Share and Forecast to 2030". The global additives market size is projected to grow at a CAGR of 4.6% to reach USD 222.6 billion by 3030 from USD 155.4 billion in 2021.

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A substance that is added to improve properties such as performance, durability, efficiency, shelf life, and productivity is referred to as an additive. Stabilizers, epoxidized soybean oil (ESO), and phosphorus-based flame retardant additives are examples of specialty additives used in end-use industries like agriculture, healthcare, and pharmaceuticals, and packaging films. Under the influence of light, heat, air, and moisture, lubricants such as highly refined base oils and oils from renewable resources tend to degrade their performance. As a result, using lubricant additives like antioxidants can help to delay aging and improve performance. Sulfur-containing additives are also used in metalworking processes and gear and bearing lubrication because of their ability to prevent cold welding of metal surfaces under high pressure.

Global Additives Market Research Report Segmentation
The overall additives market has been segmented into the product type, end-use, and region.

By Product Type (Plastic Additives, Food Additives, Construction Additives, Lubricant Additives, Fuel Additives, Coating Additives, Agrochemical Additives, Medicated Feed Additives, and Others)
By End-Use (Packaging, Food & Beverage, Chemical, Automotive, Aerospace, Building & Construction, Animal Husbandry, and Others)
By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)
Food & beverages, by end-use, is estimated to hold the largest market share during the forecast period

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Based on end-use, the global additives market is segmented into packaging, food & beverage, chemical, automotive, aerospace, building & construction, animal husbandry, and others. In 2021, food & beverages accounted for the largest market share of 34.9% in the global additives market. Additives used in the food sector help to keep foods fresh, enhance their color & flavor, and improve texture. Majorly used additives in the food sector include anti-caking agents, antioxidants, artificial sweeteners, emulsifiers, food acids, color, flavors, flavor enhancers, foaming agents, mineral salts, and preservatives.

Consumption of non-alcoholic beverages is increasing, owing to population growth, rise in demand for product diversification, motivation to avoid alcoholic beverages, and growing consumer preference for healthier habits. Moreover, the rise in temperature of the planet has urged people to consume non-alcoholic beverages to keep themselves hydrated. The key market trend in the global additives market will propel the need for additives in the beverage sector.

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Asia Pacific accounts for the largest market share in the additives market in 2021

Based on the regions, the global additives market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, North America accounted for the highest market share of 37.2% in the global additives market and was anticipated to maintain its dominance throughout the forecast period. Coating additives possess significant properties such as wettability, impact modification, anti-foam, disperse, and rheology modification characteristics. The key market trend in the Asia-Pacific region is the key market trend of the use of additives in sectors such as paints & varnishes, coatings, agricultural equipment, submarines & ships, and others. Countries such as India and China are constantly involved in expanding their naval powers that consist of manufacturing ships, decks, submarines, and others.

The use of additives in pigments, thickeners, defoamers, and others for manufacturing submarines & ships may increase the demand for additives in the Asia-Pacific region. Moreover, additives are used to enhance the properties of plastics and resins, such as durability, strength, flexibility, lightweight, and others. China being the world's largest manufacturer of plastics & resins, may increase the demand for additives in the region.

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This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the additives market. It also consists of the profiles of leading companies such as Dow Inc., Evonik Industries AG, BASF SE, Clariant AG, Eastman Chemical Company, Milliken Chemical, Sanitized AG, PolyOne Corporation, Lanxess AG, and BioCote Limited. These market players have focused on acquisitions and expansion to gain a larger market share in the additives market.

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