Plastic Additives Market worth $59.9 billion by 2026 | Key players BASF SE, Clariant AG, Albemarle Corporation, Nouryon, LANXESS AG.

According to recent market research the "Plastic Additives Market by Type (Plasticizers, Stabilizers, Flame Retardants, Impact Modifiers), Plastic Type (Commodity, Engineering, and High-Performance), Application (Packaging, Consumer Goods) and Region- Global Forecast to 2026", is projected to reach USD 59.9 billion by 2026, at a CAGR of 5.6 % from USD 45.6 billion in 2021. Additives are added to plastics to improve their physical properties such as strength, chemical and heat resistance, clarity, weather resistance, and color preservation. Plastic additives are used to modify the physical or chemical properties of polymers to reinforce their mechanical properties, making them stronger and better for end-use applications. They are used in a variety of applications. Some of the important end-use applications of plastic additives are packaging, consumer goods, construction, and automotive.

Browse 294 market data Tables and 62 Figures spread through 284 Pages and in-depth TOC on "Plastic Additives Market - Global Forecast to 2026"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/plastic-additives-market-722.html

Packaging is the largest end-use application of the plastic additives market. APAC was the largest market for plastic additives in 2020, in terms of both volume and value. Factors such as growing demand from packaging industry, rapid industrialization in growing economies like China & India and increasing demand for plastic molds in electric vehicles will drive the plastic additives market.

The major factor that aids the growth of the packaging industry is rapid urbanization, changing consumer lifestyle, economic trends, and rising health awareness among different classes of consumers and development in packaging material and technology. The various properties of plastics, such as durability, low cost, resistance to corrosion and water & chemicals, and low thermal conductivity make them suitable for use in various applications. Rise in the use of plastics in heavy and light packing drives the demand for plastic additives. The demand for plasticizers, flame retardants, and stabilizers is growing with the increasing demand for plastics in packaging.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=722

The APAC comprises major emerging nations such as China and India. Hence, the scope for the development of most industries is high in this region. The plastic additives market is growing significantly and offers opportunities for various manufacturers. The APAC region constitutes approximately 61.0% of the world's population, and the manufacturing and processing sectors are growing rapidly in the region. The APAC is the largest plastic additives market with China being the major market which is expected to grow significantly. The rising disposable incomes and rising standards of living in emerging economies in the APAC are the major drivers for this market.

The increasing population in the region accompanied by the development of new technologies and products is projected to make this region an ideal destination for the growth of the plastic additives market. However, establishing new plants, implementing new technologies, and creating a value supply chain between raw material providers and manufacturing industries in the emerging regions of the APAC is expected to be a challenge for industry players as there is low urbanization and industrialization. Booming automotive, consumer goods, and packaging sectors and advances in process manufacturing are some of the key drivers for the market in the APAC. Countries such as India and China are expected to witness high growth in the plastic additives market due to the increasing demand from the automotive industry.

The key players in this market are BASF SE (Germany), Clariant AG (Switzerland), Albemarle Corporation (U.S.), Songwon Industrial Co. Ltd. (South Korea), Nouryon (Netherland), LANXESS AG (Germany), Evonik Industries AG (Germany), Kaneka Corporation (Japan), and The Dow Chemical Company (U.S.). The global and regional players have sizable shares in the plastic additives market. The key players in the market are focusing on strategies, such as new product launches, partnerships & agreements, acquisitions, and expansions, to expand their businesses globally.

For more Details Speak to Our Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=722

BASF SE is the largest manufacturer of plastic additives, with operations in over 80 countries. The company's strong R&D capabilities enable it to provide innovative solutions and meet the changing market demands in the short- and long-term by building a strong technology base. The company operates through seven business segments: chemicals, materials, industrial solutions, surface technologies, nutrition & care, agricultural solutions. and others. BASF offers plastic additives through its industrial solutions segment. It primarily operates in Europe and has an active presence in North America, Asia Pacific, South America, Africa, and the Middle East countries. BASF SE constructed a new plant for plastic additives business in Pontecchio Marconi Italy. This expansion will help to strengthen the company's position of light stabilizer. With this expansion they will be able to deliver wider range of NOR solutions increase the revenue. In April 2021, BASF SE launched biomass balanced plasticizers with renewable raw materials saving the fossil resources and reducing co2 emission. This will help company in contributing towards recycling of plastic waste and increase the use of renewable raw materials.

The Dow Chemical Company consistently innovates and develops new products. The company has been focusing on new product development and investing in R&D initiatives to manufacture plastic additives based on innovative technologies. The company serves various end-use industries, including appliance, automotive, agricultural, construction, chemical processing, electronics, oil & gas, packaging, paints & coatings, personal care, and pharmaceutical. The company's operations including production unit and sales offices are spread across North America, Latin America, Europe, the Middle East & Africa, and Asia Pacific. The company has been actively investing in the production of new plastic additives with superior properties. It focuses mostly on the North American and European markets but is now slowly moving toward the growing Asia Pacific and Latin America regions.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: newsletter@marketsandmarkets.com
Press Release: https://www.marketsandmarkets.com/PressReleases/plastic-additives.asp
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/plastic-additives-market.asp

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.