Press release
High-Performance Plastic Additives Market Future Trends and Scope Analysis Report
The global high-performance plastic additives market is estimated to reach over USD 3266.38 million by 2034, exhibiting a CAGR of 9.2% during the forecast period.
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High-performance plastic additives offer a range of benefits, including enhanced chemical, water, and scratch resistance, reduced friction coefficients, improved gloss, superior water repellency, suppression of the shark skin effect, and diminished surface roughness. These additives also improve polymer flow, facilitating easier processing by reducing viscosity and heat dissipation through internal lubricants. The increased use of lightweight components in automotive manufacturing to boost vehicle efficiency is anticipated to further drive regional market growth.
In addition, ongoing research and development focused on non-toxic plastic products is expected to support global market expansion. The creation of additives that significantly reduce product degradation time could serve as a pivotal breakthrough. Furthermore, the industrial adoption of pro-oxidant additives, which promote both thermo-oxidation and photo-oxidation-thereby enhancing the availability of extractable chemicals-continues to underpin market growth.
List of Prominent Players in the High-Performance Plastic Additives Market:
• Solvay S.A.
• Evonik Industries AG.
• Colloids Ltd.
• SABIC
• Ensinger
• L.Brueggemann GmbH & Co. KG
• Americhem, Inc.
• Colortech Inc.
• Tosaf Compounds Ltd.
• Arkema
• BASF SE
• 3M
• SUQIAN UNITECH CORP., LTD.
• Nouryon
• Avient Corporation
• Kemipex
• Advanced Polymer Solutions, LLC
• NEWOS GmbH
• Ceramer GmbH
• Karan Industrial Group
Market Dynamics:
Drivers-
Over the past two decades, the packaging industry has experienced robust growth, driven primarily by the rising demand for convenience foods, which in turn increases the need for food-grade plastics in packaging applications. The rapid expansion of the global e-commerce sector also serves as a significant catalyst for market growth. Additionally, plastics are widely utilized in automotive component production due to their lightweight and cost-effective properties, which contribute to reduced fuel consumption and enhanced vehicle efficiency.
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Challenges:
A major challenge within the market is the prevalent use of phthalates as plasticizers to enhance transparency, flexibility, and durability in materials, particularly for softening PVC. Despite their cost-effectiveness, phthalates pose significant environmental and health risks. They are non-biodegradable and can be released into the environment during polymer processing, and they are potential endocrine disruptors, which may contribute to issues such as male infertility. Moreover, their high volatility raises concerns regarding their deposition in the human body, further impeding market growth.
Regional Trends:
The Asia-Pacific region is expected to capture a significant share of the high-performance plastic additives market revenue and grow at an elevated compound annual growth rate (CAGR), driven by rapid urbanization, a burgeoning population, and increased investments in residential and commercial construction. In North America, accelerated market growth is anticipated due to expanding packaging applications in emerging markets and intensified research and development efforts focused on non-toxic plastic product innovations. Additionally, stringent European Union regulations limiting the use of phthalates in food and medical applications are expected to foster opportunities for the development of advanced and improved polymer additives.
Recent Developments:
• In October 2022, Evonik Industries AG showcased its most recent viable plans for the polymers and foam industries at K 2022 in Dusseldorf, Germany. INFINAM PA, a new and enhanced grade of PA-12 powders with much lower CO2 emissions for fused deposition 3D printing methods, was also showcased.
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Segmentation of High-Performance Plastic Additives Market-
By End-User-
• Transportation
• Medical
• Electrical and Electronics
• Packaging
• Others
By Plastic Type-
• Fluoropolymers
• High-performance Polyamides
• Sulfone Polymers
• Liquid Crystal Polymers
• Polyimides
• Others
By Additive-Type-
• Plasticizers
• Flame Retardants
• Lubricants
• Anti-Oxidants
• Stabilizers
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.
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