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Plastic Additives Market Estimated to Exhibit 3.8% CAGR through 2016
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The research report segments the global plastic additives market on the basis of function, product, and geography. Product-wise, this market is segmented into UV stabilizers, antimicrobials, antioxidants, impact modifiers, flame retardants, and plasticizers. Property modifiers mostly include impact modifiers, biodegradable plasticizers, antioxidants, blowing agents, antimicrobials, and flame retardants. With a market share exceeding 50%, the segment of plasticizers dominates the global plastic additives market in terms of volume. One of the key restraints on the global plastic additives market is the high initial cost of investment. However, it is observed that the return on investment gradually makes up for the same in the subsequent years.
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Geographically, this report segments the global plastic additives market into Asia Pacific, Europe, North America, and Rest of the World. Fuelled by the growth of the construction industry and the automobile industry, the Asia Pacific segment dominates the global plastic additives market in terms of both consumption and production. The automobile industry in India and China is expected to expand robustly in the forthcoming years, which in turn will increase the demand for plastic additives. Furthermore, the plastic additives market is anticipated to witness high demand from Europe and the U.S. because of the steady economic recovery taking place in these regions.The report states that the global plastic additives market is characterized by investment of huge funds in the area of product development. Of the key companies operating in the global plastic additives market, BASF continues to be the largest manufacturer of plastic additives in the global market.
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Kaneka, Chemtura Corporation, Bayer AG, and Exxon Mobil Corporation are the other prominent companies in the global plastic additives market. Brazil, Korea, Saudi Arabia, Russia, India, China, and Iran are some of the lucrative regions in the global plastic additives market that will prosper significantly during the forecast period.
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