According to the latest report by IMARC Group, titled “Plastic Additives Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2021-2026,” the global plastic additives market reached a value of US$ 46.2 Billion in 2020. Looking forward, the market is expected to exhibit moderate growth during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Plastic additive refers to a chemical compound added to polymers to improve the physical and chemical properties of plastic products. It acts as a filler or a catalyst that enhances the strength to the weight ratio, durability, corrosion resistance, heat sensitivity, etc. Some of the frequently used plastic additives include modifiers, property extenders, stabilizers, etc. They find extensive applications across various industries, such as packaging, automotive, construction, manufacturing, etc.
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Plastic additives, such as antimicrobials, antioxidants, UV stabilizers, and plasticizers, are used in large quantities to improve the chemical and physical properties of a compound formulation. Owing to this, they have a wide range of applications in the construction, packaging, automotive, consumer goods, and pharmaceutical industries. The increasing usage of plastics in place of conventional materials, along with the rise in the disposable incomes of consumers and rapid urbanization, are among the most significant drivers of the market. Furthermore, there has been a rising product demand from the packaging industry to treat packaging materials, such as Polyvinyl chloride (PVC), polyethylene terephthalate (PET), low-density polyethylene (LDPE), and high-density polyethylene (HDPE), with plastic additives to improve their operational life, appearance and mechanical properties. Moreover, the growth of the market is further boosted by continuous innovations and the need for lighter materials in several applications, which in turn is expected to create a positive outlook for the market in the upcoming years.
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List of Key Companies Covered in this Market Report:
- Akzonobel NV
- Albemarle Corporation
- Clariant AG
- Evonik Industries AG
- Kaneka Corporation
- Lanxess AG
- Songwon Industrial Co. Ltd
Breakup by Additive Type:
- Flame Retardants
- Impact Modifiers
Breakup by Plastic Type:
- Commodity Plastic
- Engineering Plastic
- High Performance Plastic
Breakup by Application:
- Consumer Goods
Breakup by Function:
- Property Modifiers
- Property Stabilizers
- Property Extenders
- Processing Aids
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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