Plastic Additives Market is Forecasted to Reach US$ 65.94 Billion in 2028, Says Stratview Research

The global plastic additives market is projected to witness a growth rate of 5.46% annually from 2023 to 2028, with an anticipated size of US$ 65.94 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global plastic additives market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/1318/plastic-additives-market.html#form

Report Highlights:
Market Size in 2028: US$ 65.94 billion
Growth (CAGR): 5.46% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 4
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Plastic Additives Market:

The global plastic additives market is segmented based on product type, plastic type, application type, and region.

Based on product type - "Plasticizers segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period"
The market is segmented into plasticizers, stabilizers, flame retardants, impact modifiers, and others. The plasticizers segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period. The growth of the segment can be attributed to plasticizers being economical as compared to other additives. They are generally mixed with polymers or PVC to impart unique technological and physical properties for usage in various applications, such as floor & wall coverings, coating fabrics, and cable jacketing.

Based on plastic type - "Commodity plastics segment is expected to remain dominant during the forecast period"
The market is segmented as commodity, engineering, and high-performance plastics. The commodity plastics segment is expected to remain dominant during the forecast period. Polyethylene (PE), polypropylene (PP), polystyrene (PS), polyvinyl chloride (PVC), polymethyl methacrylate (PMMA), polyphenylene ethers (PPE), and others are the materials used to render specific resin properties to process polymers. Polyethylene (PE) is majorly used in a number of applications, such as general plastic films, packaging bags, medical packaging, greenhouse & tunnel films, pipes, and mulch films.

Based on application type - "Packaging segment leads the market during the forecast period"
The plastic additives market is segmented as packaging, construction, consumer goods, automotive, and others. The packaging segment leads the market owing to changes in living standards and globalization, which are accelerating the demand for plastic additives. Some other common applications are electronics, kitchenware, toys, storage containers, cables, and pipes, which are contributing to the growth of the segment.

To know the most attractive segments, click here:
https://www.stratviewresearch.com/1318/plastic-additives-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is estimated to be the largest as well as the fastest-growing market for plastic additives during the forecast period. This growth outlook is majorly attributed to the following-

• China, Japan, and India being the major countries of the region.
• The increasing usage of polymers in developing economies is driving the market for plastic additives in the Asia-Pacific region.
• North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

Plastic Additives Market Drivers:

Some of the key drivers listed in the report are given below.
• The growing need for plastics across a variety of sectors, including packaging, automotive, construction, and electronics.
• Advancements in plastic technology and the need for innovative, high-performance plastic items.
• Increasing need for environmentally friendly plastic solutions due to rising environmental concerns and strict regulations.
• Plastic additives are widely used in the automobile sector.
• Increasing demand for high-quality products and consumer awareness.
• The world's development, rising population, and e-commerce tendencies contribute to the industry's enormous expansion.

Top Companies in the Plastic Additives Market:

Stratview Research has identified the following companies as the top market players.
• AkzoNobel NV
• Albemarle Corporation
• BASF SE
• Bayer AG
• Clariant AG
• Evonik Industries AG
• Kaneka Corporation
• Lanxess AG
• Songwon Industrial Co., Ltd.
• The DOW Chemical Company

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Plastic Additives Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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Related Reports:
• Commodity Plastics Market: https://www.stratviewresearch.com/839/commodity-plastics-market.html
• Plasticizers Market: https://www.stratviewresearch.com/1320/plasticizers-market.html

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This release was published on openPR.