Plastic Additive Market will Grow at a CAGR of 6.5% during 2023-2030

Plastic Additive Market?Overview:

Plastic additives are chemicals that are used to polymerize, process, or aid achieve desirable properties in the final application of plastics. Plastic additives provide increased chemical, water, and scratch resistance, lower coefficient of friction, enhanced gloss, improved water repellency, suppression of shark-skin, and reduced surface roughness, to name a few advantages. Plastic additives are also used to increase polymer flow, making them easier to process. Internal lubricants allow materials to flow more easily by reducing heat dissipation and viscosity. Plastic additives are more successful than other additives at preventing microbiological degradation of plastic materials that are prone to staining, odour, discoloration, and aesthetic loss. These advantages of plastic additives over other additives are driving the growth of the plastic additives market. Plastic additives are more effective on materials that have electrical insulating qualities as well as mechanical properties.

Plastic Additive Market Size and Future Apprehension:

According to the most recent DataM Intelligence analysis, the worldwide “Plastic Additives Market” is expected to grow at a CAGR of 9.18% during the forecast period 2022-2029.

Plastic Additive Market Dynamics:

Plastic Additive Market Drivers:

Plastic additives are widely used in the automotive and construction sectors due to properties such as enhanced impact strength, better coupling, greater elongation, decreased brittleness, and increased flexibility. These compounds have found widespread acceptance in the car industry for uses such as interior scratch resistance in trims or panels, and high glossy panels for central console décor. As the popularity of low-cost automotive interiors develops, the market for plastic additives is expected to grow. Chemicals are used in the consumer goods business because they are easily recycled.

Plastic additives are used in the construction sector to preserve appearance and characteristics, thermal protection, long-term durability, and the integrity of polymer properties throughout processing. Plastic additives also help UV-sensitive building applications survive longer. The expanding global construction sector is likely to drive expansion in the plastic additives market.

To get more insights into the market report, and research methodology kindly download our?Sample Report

Plastic Additive Market Restrains:

Several new restrictions and potential limitations on the use of petroleum-based polymers are projected to impact plastic additive sales. Several scientific investigations have supported limitations on different types of plastic additives, such as flame retardants and plasticizers.

Plastic Additive Market Opportunities:

-Cost effectiveness and commercialization of plastic

Because of its reusable nature, plastic is thought to be cost effective. Used plastics are recycled and reused to create new formulations for a variety of purposes. Major corporations have stated that plastic additives are far more cost efficient than their other alternative materials. The industry's key companies are hard at work researching and developing less harmful or non-toxic plastic goods. The government is beginning to market plastic items, which supports their use in several fields such as healthcare, automobiles, and construction.

Covid-19 Impact Analysis:

Due to the COVID-19 pandemic, most industries saw a decrease in 2020. Countries throughout the world, particularly in Europe, South America, and North America, have had the largest number of COVID-19 cases, affecting industrial activities in several areas. Demand for end-products such as automotive components, plastic construction materials such as pipes and fittings, and consumer goods has fallen, resulting in a drop in demand for black masterbatch in 2020. However, industrial and construction activities are gradually recovering and are expected to produce additional demand for plastic additives for their end-products throughout the forecast period.

Market Segmentation:

The plastic additives market is segmented into type, plastic type, application, end user, region

Some of the major countries covered in the global report such as the United States, Canada, Brazil, Germany, Italy, Spain, United Kingdom, Russia, European countries, United Arab Emirates, Saudi Arabia, South Africa, Japan, China, India, South Korea, Australia, and rest of the countries over the globe

By Type:

·????????Plasticizers

·????????Stabilizers

·????????Impact Modifiers

·????????Nucleating Agents

·????????Flame Retardants

·????????Blowing Agents

·????????Anti-Aging Additives

·????????Others

By Plastic Type:

·????????Commodity Plastics

·????????Engineering Plastic

·????????High-Performance Plastics

By Application:

·????????Packaging

·????????Consumer Goods

·????????Compounding

·????????Adhesive and Sealant

·????????Others

By End-User:

·????????Building and Construction

·????????Automotive

·????????Cosmetics and Personal Care

·????????Electrical and Electronics

·????????Others

By Region:

·????????North America

·????????Latin America

·????????Europe

·????????Asia Pacific

·????????Middle East and Africa

Plastic Additive Market Competitive Landscape:

The worldwide plastic additive market is concentrated and competitive, with international corporations participating. Some of the key players in the plastic additive market are

·????????BASF SE

·????????Clariant AG

·????????Songwon Industrial Co. Ltd

·????????Albemarle Corporation

·????????Nouryon

·????????Evonik Industries AG

·????????LANXESS AG

·????????Kaneka Corporation

·????????The Dow Chemical Company

·????????Exxon Mobil Corporation

Plastic Additive Market Regional Analysis:

Asia-Pacific accounted for the biggest percentage, at roughly 56.2%. The Asia-Pacific region controlled the majority of the worldwide market. Due to low-cost raw materials and labour availability, China is one of the most profitable markets for plastic additives. China is one of the world's leading manufacturers of plastic materials.

Contact Us:

Sai Kiran

DataM Intelligence 4Market Research LLP

+1 877–441–4866

info@datamintelligence.com