HOME Top Market Reports Plastic Additives Market by Type (Plasticizers, Stabilizers, Flame Retardants, Impact Modifiers), Plastic (Commodity, Engineering, and High Performance Plastic), and by Application (Packaging, Construction, Consumer Goods, Automotive) - Global Trends & Forecasts to 2021

Plastic Additives Market by Type (Plasticizers, Stabilizers, Flame Retardants, Impact Modifiers), Plastic (Commodity, Engineering, and High Performance Plastic), and by Application (Packaging, Construction, Consumer Goods, Automotive) - Global Trends & Forecasts to 2021

By: marketsandmarkets.com
Publishing Date: August 2016
Report Code: CH 1184

 

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The market size for plastic additives was USD 38.31 Billion in 2015 and is projected to reach USD 50.86 Billion by 2021, registering a CAGR of 4.9% between 2016 and 2021. In this report, 2015 is considered as the base year and forecast period is between 2016 and 2021.

The objectives of this study are:

  • To analyze and forecast the market size of plastic additives, in terms of value and volume
  • To define, describe, and segment the global plastic additives market by type, plastic, and application
  • To forecast the sizes of the market segments based on regions—Asia-Pacific, Europe, North America, the Middle East & Africa, and South America
  • To provide detailed information regarding the important factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
  • To strategically analyze the segmented markets with respect to individual growth trends, prospects, and contribution to the overall market
  • To identify and analyze opportunities for stakeholders in the market
  • To analyze competitive developments such as new product developments, mergers & acquisitions, agreements, and expansions in the global plastic additives market
  • To strategically profile key players and comprehensively analyze their core competencies

Research Methodology:

This research study involves the extensive use of secondary sources, directories, and databases (such as Hoovers, Bloomberg BusinessWeek, and Factiva) to identify and collect information useful for this technical, market-oriented, and commercial study of the plastic additives market. The primary sources mainly include several industry experts from core and related industries and preferred suppliers, manufacturers, distributors, service providers, and organizations related to all segments of the industry’s supply chain. After arriving at the overall market size, the total market has been split into several segments and subsegments. The figure below illustrates the breakdown of the primary interviews based on company type, designation, and region conducted during the research study:

Plastic Additives Market

To know about the assumptions considered for the study, download the pdf brochure

The value chain of plastic additives starts with the procurement of raw materials. The key components of any type of plastics additives are additives and polymer. The raw materials are chemically synthesized to form a typical concentrate, which is then compounded by plastic additives producers. Compounding is a two-stage process; gathering ingredients and then mixing them together by applying heat and shear stress to produce a homogenized pellet. Compounders improve the properties of thermoplastic polymers by incorporating additives in molten state. A great amount of effort and expertise is required to manufacture plastic additives suitable for different end-use application. The major applications where these plastic additives are used include packaging, construction, consumer goods, automotive, and others. Some of the major players in the plastic additive market are Songwon Industrial Co. Ltd. (South Korea), Albemarle Corporation (U.S.), Clariant AG (Switzerland), BASF SE (Germany), The Dow Chemical Company (U.S.), Bayer AG (Germany), Evonik Industries AG (Germany), Kaneka Corporation (Japan), Lanxess AG (Germany), and others.

Target Audience:

  • Plastic additives manufacturers
  • Plastic additives suppliers
  • Government and research organizations
  • Plastic additives traders, distributors, and suppliers
  • Investment banks and private equity firms
  • Raw material suppliers
  • Service providers
  • End users such as automotive, packaging, consumer good, construction, and other

“Study answers several questions for stakeholders, primarily which market segments to focus in next two to five years for prioritizing their efforts and investments”.

Scope of the Report:

This report categorizes the global market of plastic additives on the basis of type, plastic, application, and region.

  1. Market Segmentation, by Type:

    The plastic additives market has been segmented on the basis of Type:

    • Plasticizers
    • Stabilizers
    • Flame retardants
    • Impact modifiers
    • Others
  2. Market Segmentation, by Plastic:

    The plastic additives market has been segmented on the basis of Plastic:

    • Commodity plastic
    • Engineering plastic
    • High performance plastic
  3. Market Segmentation, by Application:

    The plastic additives market has been segmented on the basis of Application:

    • Packaging
    • Automotive
    • Consumer Goods
    • Construction
    • Others
  4. Market Segmentation, by Region:

    The plastic additives market has been segmented on the basis of Region:

    • Asia-Pacific
    • Europe
    • North America
    • Middle East & Africa
    • South America

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options (not limited to) are available for the report:

Regional Analysis

  • Further breakdown of a region with respect to a particular country, additional application, and/or type

Country Information

  • Additional country information (up to 3)

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)

Table of Contents

1 Introduction (Page No. - 18)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Years Considered for the Study
    1.4 Currency
    1.5 Package Size
    1.6 Limitation
    1.7 Stakeholders

2 Research Methodology (Page No. - 22)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 30)

4 Premium Insights (Page No. - 35)
    4.1 Significant Opportunities in Plastic Additives Market (2016–2021)
    4.2 Plastic Additives Market Share in Asia-Pacific
    4.3 Plastic Additives Market Attractiveness
    4.4 Plastic Additives Market Size, By Application, 2015
    4.5 Plastic Additives Market Size: Developed vs Developing Nations
    4.6 Lifecycle Analysis, By Region

5 Market Overview (Page No. - 41)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 Plastic Additives Market, By Region
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Replacement of Conventional Materials By Plastics in Several Applications
                    5.3.1.2 Increasing Disposable Income and Rapid Urbanization
                    5.3.1.3 Rising Demand From Asia-Pacific Region
           5.3.2 Restraints
                    5.3.2.1 Stringent Governmental Regulations Governing the Plastic Additives Market
           5.3.3 Opportunities
                    5.3.3.1 Untapped Opportunities in Emerging Markets for Packaging
                    5.3.3.2 Increasing Demand From Agriculture and Pharmaceutical Applications
           5.3.4 Challenges
                    5.3.4.1 Uncertain Low Phthalate Plasticizer Demand in Asia-Pacific Region
                    5.3.4.2 Recycling of Non-Degradable Plastics Waste
           5.3.5 Burning Issue
                    5.3.5.1 Emergence of Bio-Plasticizers

6 Industry Trends (Page No. - 53)
    6.1 Value Chain
    6.2 Porter’s Five Forces Analysis
           6.2.1 Threat of Substitutes
           6.2.2 Bargaining Power of Suppliers
           6.2.3 Bargaining Power of Buyers
           6.2.4 Threat of New Entrants
           6.2.5 Intensity of Rivalry
    6.3 Regulatory Framework
    6.4 Economic Indicators
           6.4.1 Industry Outlook
                    6.4.1.1 Packaging
                    6.4.1.2 Automotive
                    6.4.1.3 Construction

7 Plastic Additives Market, By Type (Page No. - 64)
    7.1 Introduction
           7.1.1 Plasticizers
                    7.1.1.1 Phthalates
                               7.1.1.1.1 Low Phthalates
                               7.1.1.1.2 High Phthalates
                    7.1.1.2 Non-Phthalates
           7.1.2 Stabilizers
                    7.1.2.1 Antioxidants
                    7.1.2.2 Heat Stabilizers
                    7.1.2.3 Light Stabilizers
           7.1.3 Flame Retardants
                    7.1.3.1 Brominated
                    7.1.3.2 Phosphorus
                    7.1.3.3 Aluminum Trihydroxide (ATH)
                    7.1.3.4 Nitrogen
                    7.1.3.5 Other Flame Retardants
           7.1.4 Impact Modifiers
           7.1.5 Other Plastic Additives
                    7.1.5.1 Anti-Microbial
                    7.1.5.2 Antistatic Agents
                    7.1.5.3 Blowing Agent
                    7.1.5.4 Fillers
                    7.1.5.5 Nucleating Agents

8 Plastic Additives Market, By Plastic (Page No. - 71)
    8.1 Introduction
    8.2 Commodity Plastics
           8.2.1 Polyethylene (PE)
           8.2.2 Polystyrene (PS)
           8.2.3 Polyphenylene Ethers (PPE)
    8.3 Engineering Plastic
           8.3.1 Polyamides (PA)
           8.3.2 Polyethylene Terephthalate (PET)
           8.3.3 Polybutylene Terephthalate (PBT)
           8.3.4 Polycarbonate (PC)
    8.4 High Performance Plastics
           8.4.1 Polyether Ether Ketone (PEEK)
           8.4.2 Polyimide (PI)
           8.4.3 Polytetrafluoroethylene (PTFE)

9 Plastic Additives Market, By Application (Page No. - 77)
    9.1 Introduction
    9.2 Packaging
    9.3 Consumer Goods
    9.4 Construction
    9.5 Automotive
    9.6 Others

10 Plastic Additives Market, By Region (Page No. - 82)
     10.1 Introduction
     10.2 Asia-Pacific
             10.2.1 China
             10.2.2 Japan
             10.2.3 India
             10.2.4 South Korea
             10.2.5 Australia & New Zealand
             10.2.6 Rest of Asia-Pacific
     10.3 Europe
             10.3.1 Italy
             10.3.2 France
             10.3.3 U.K.
             10.3.4 Spain
             10.3.5 Rest of Europe
     10.4 North America
             10.4.1 U.S.
             10.4.2 Mexico
             10.4.3 Canada
     10.5 Middle East & Africa
             10.5.1 Saudi Arabia
             10.5.2 Iran
             10.5.3 South Africa
             10.5.4 Rest of the Middle East & Africa
     10.6 South America
             10.6.1 Brazil
             10.6.2 Argentina
             10.6.3 Rest of South America

11 Competitive Landscape (Page No. - 120)
     11.1 Overview
     11.2 Competitive Benchmarking
     11.3 Market Share Analysis
     11.4 Competitive Situation and Trends
             11.4.1 New Product Launches
             11.4.2 Mergers & Acquisitions
             11.4.3 Agreements
             11.4.4 Expansions
             11.4.5 Joint Ventures

12 Company Profiles (Page No. - 127)
(Overview, Financial*, Products & Services, Strategy, and Developments)
     12.1 Songwon Industrial Co., Ltd.
     12.2 Albemarle Corporation
     12.3 BASF SE
     12.4 Clariant AG
     12.5 The DOW Chemical Company
     12.6 Akzonobel Nv
     12.7 Bayer AG
     12.8 Chemtura Corporation
     12.9 Evonik Industries AG
     12.10 Kaneka Corporation
     12.11 Lanxess AG
     12.12 Other Market Players
             12.12.1 Adeka Corporation
             12.12.2 Polymers Compounding Co. Ltd.
             12.12.3 Baerlocher Group
             12.12.4 Emerald Performance Materials
             12.12.5 Grafe Advanced Polymers GmbH
             12.12.6 Milliken & Company
             12.12.7 Plastics United Group
             12.12.8 Polyone
             12.12.9 Sabo S.P.A.
             12.12.10 Sakai Chemical Industry Co., Ltd.

*Details Might Not Be Captured in Case of Unlisted Companies

13 Appendix (Page No. - 155)
     13.1 Insights From Industry Experts
     13.2 Discussion Guide
     13.3 Introducing RT: Real-Time Market Intelligence
     13.4 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.5 Available Customizations
     13.6 Related Reports


List of Tables (90 Tables)

Table 1 Major Plastic Additives and Their Functions
Table 2 Plastic Additives Market, By Type
Table 3 Plastic Additives Market, By Plastic
Table 4 Plastic Additives Market, By Application
Table 5 GDP of the Top Ten Largest Economies, in Terms of PPP, 2020
Table 6 Regulations Against Plastic Waste, 2011–2013
Table 7 Packaging Laws in Europe, 2016-2021
Table 8 Bio-Based Plasticizers Producers for Pvc
Table 9 List of Top Plastic Additives Manufactures, By Region
Table 10 Regulatory Authorities Governing Plastic Additives
Table 11 Plastic Additives Market Size, By Type, 2014–2021 (Kiloton)
Table 12 Plastic Additives Market Size, By Type, 2014–2021 (USD Million)
Table 13 Plastic Mapping
Table 14 Plastic Additives Market Size, By Plastic Type, 2014–2021 (Kiloton)
Table 15 Plastic Additives Market Size, By Plastic Type, 2014–2021 (USD Million)
Table 16 Plastic Additives Market Mapping By Application
Table 17 Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 18 Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 19 Plastic Additives Market Size, By Region, 2014–2021 (Kiloton)
Table 20 Plastic Additives Market Size, By Region, 2014–2021 (USD Million)
Table 21 Asia-Pacific: Plastic Additives Market Size, By Country, 2014–2021 (Kiloton)
Table 22 Asia-Pacific: Plastic Additives Market Size, By Country, 2014–2021 (USD Million)
Table 23 Asia-Pacific: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 24 Asia-Pacific: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 25 China: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 26 China: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 27 Japan: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 28 Japan: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 29 India: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 30 India: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 31 South Korea: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 32 South Korea: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 33 Australia & New Zealand: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 34 Australia & New Zealand: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 35 Rest of Asia-Pacific: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 36 Rest of Asia-Pacific: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 37 Europe: Plastic Additives Market Size, By Country, 2014–2021 (Kiloton)
Table 38 Europe: Plastic Additives Market Size, By Country, 2014–2021 (USD Million)
Table 39 Europe: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 40 Europe: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 41 Germany: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 42 Germany: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 43 Italy: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 44 Italy: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 45 France: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 46 France: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 47 U.K.: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 48 U.K.: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 49 Spain: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 50 Spain: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 51 Rest of Europe: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 52 Rest of Europe: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 53 North America: Plastic Additives Market Size, By Country, 2014–2021 (Kiloton)
Table 54 North America: Plastic Additives Market Size, By Country, 2014–2021 (USD Million)
Table 55 North America: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 56 North America: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 57 U.S.: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 58 U.S.: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 59 Mexico: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 60 Mexico: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 61 Canada: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 62 Canada: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 63 Middle East & Africa: Plastic Additives Market Size, By Country, 2014–2021 (Kiloton)
Table 64 Middle East & Africa: Plastic Additives Market Size, By Country, 2014–2021 (USD Million)
Table 65 Middle East & Africa: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 66 Middle East & Africa: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 67 Saudi Arabia: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 68 Saudi Arabia: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 69 Iran: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 70 Iran: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 71 South Africa: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 72 South Africa: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 73 Rest of the Middle East & Africa: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 74 Rest of the Middle East & Africa: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 75 South America: Plastic Additives Market Size, By Country, 2014–2021 (Kiloton)
Table 76 South America: Plastic Additives Market Size, By Country, 2014–2021 (USD Million)
Table 77 South America: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 78 South America: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 79 Brazil: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 80 Brazil: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 81 Argentina: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 82 Argentina: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 83 Rest of South America: Plastic Additives Market Size, By Application, 2014–2021 (Kiloton)
Table 84 Rest of South America: Plastic Additives Market Size, By Application, 2014–2021 (USD Million)
Table 85 Brand Influence on the Plastic Additives Market
Table 86 New Product Launches, 2014–2016
Table 87 Mergers & Acquisitions, 2014–2016
Table 88 Agreements, 2014–2016
Table 89 Expansions, 2014–2016
Table 90 Joint Ventures, 2014–2016


List of Figures (52 Figures)

Figure 1 Plastic Additives Market: Research Design
Figure 2 Market Size Estimation: Bottom-Up Approach
Figure 3 Market Size Estimation: Top-Down Approach
Figure 4 Plastic Additives Market: Data Triangulation
Figure 5 Plasticizers Dominates the Plastic Additives Market During Forecast Period
Figure 6 Packaging Segment to Register Highest CAGR During Forecast Period
Figure 7 Commodity Plastics is the Largest Segment of Plastic Additives Market During Forecast Period
Figure 8 Asia-Pacific to Register Highest CAGR During Forecast Period
Figure 9 Plastic Additives Market to Witness Moderate Growth Between 2016 and 2021
Figure 10 Asia-Pacific to Witness Highest CAGR Between 2016 and 2021
Figure 11 China Accounted for Largest Share of Plastic Additives Market in Asia-Pacific, 2015
Figure 12 Asia-Pacific to Be the Fastest-Growing Market for Plastic Additives Between 2016 and 2021
Figure 13 Packaging Accounted for the Largest Market Share in 2015
Figure 14 China and India to Emerge as Lucrative Markets Between 2016 and 2021
Figure 15 Asia-Pacific Plastic Additives Market Experiencing High Growth Phase
Figure 16 Plastic Additives Market, By Region
Figure 17 Overview of the Factors Governing the Plastic Additives Market
Figure 18 Value Chain Analysis for Plastic Additives
Figure 19 Porter’s Five Forces Analysis
Figure 20 Global Packaging Industry, By Region, 2014
Figure 21 Global Packaging Industry, By End User, 2014
Figure 22 Vehicles in Use, By Region, 201
Figure 23 Construction Industry Growth Rate, 2014
Figure 24 Flame Retardant Segment to Witness Significant Growth
Figure 25 Type of Plasticizers
Figure 26 Commodity Plastic to Account for Largest Share of Plastic Additives Market During Forecast Period
Figure 27 Packaging Segment is the Largest Application for Plastic Additives
Figure 28 Regional Snapshot(2016–2021): China and India Emerging as Strategic Locations
Figure 29 China and India to Be the Fastest-Growing Plastic Additives Market Between 2016 and 2021
Figure 30 Asia-Pacific Marketsnapshot: Packaging Industry to Dominate the Plastic Additives Market
Figure 31 Plastic Additives Market in Europe Snapshot: Germany Projected to Dominate the Market During Forecast Period
Figure 32 North American Marketsnapshot: U.S. to Register High Growth During Forecast Period
Figure 33 Plastic Additivesmarket in the Middle East & Africa Snapshot: Saudi Arabia to Register the Highest CAGR During Forecast Period
Figure 34 Brazil to Dominate the Plastic Additives Market in South America
Figure 35 Companies Adopted New Product Launches as the Key Growth Strategy Between 2014 and 2016
Figure 36 Plastic Additives Market Share, By Company, 2015
Figure 37 Songwon Industrial Co. Ltd.: Company Snapshot
Figure 38 Songwon Industrial Co. Ltd.: SWOT Analysis
Figure 39 Albemarle Corporation: Company Snapshot
Figure 40 Albemarle Corporation: SWOT Analysis
Figure 41 BASF SE: Company Snapshot
Figure 42 BASF SE: SWOT Analysis
Figure 43 Clariant AG: Company Snapshot
Figure 44 Clariant AG: SWOT Analysis
Figure 45 The DOW Chemical Company: Company Snapshot
Figure 46 The DOW Chemical Co.: SWOT Analysis
Figure 47 Akzonobel Nv: Company Snapshot
Figure 48 Bayer AG: Company at A Glance
Figure 49 Chemtura Corporation: Company Snapshot
Figure 50 Evonik Industries AG: Company Snapshot
Figure 51 Kaneka Corporation: Company Snapshot
Figure 52 Lanxess AG: Company Snapshot

The market size of plastic additives is projected to reach USD 50.86 Billion by 2021, registering a CAGR of 4.9% between 2016 and 2021. The rapid growth in the packaging industry in Asia-Pacific is a key driver of the plastic additives market.

Packaging is the dominating application segment of the plastic additives market. It is widely used for industrial and household purposes. Change in lifestyle and globalization have triggered the demand plastic additives from the packaging industry. The automotive and packaging application segments are estimated to witness strong growth during the forecast period. Some of the common end-use applications of plastic additives are roofing, storage containers, pipes, cables, electronics, toys, kitchenware, safety gear, cosmetic articles, household products, seat belts, door panels, greenhouse films, and silage sheet.

The plastic additives market is classified on the basis of type, namely, plasticizers, stabilizers, flame retardants, impact modifiers, and others. Plasticizers account for a major share of the plastic additives market as it is extensively used to process polymers and are less expensive than other additives. They are usually combined with PVC or other polymers to impart unique physical and technological properties for use in various applications such as cable jacketing, floor & wall coverings, and coating fabrics.

The plastic additives market is classified on the basis of plastic as commodity plastic, engineering plastic, and high performance plastic. Commodity plastic dominates the consumption of plastic additives. Commodity plastics include polyethylene, polypropylene, polystyrene, polyvinyl chloride, polymethyl methacrylate, and others. These are used to impart specific resin properties to processed polymers. Polyethylene products are mostly used in various end-use applications such as packaging bags, general plastic films, medical packaging, mulch films, green house & tunnel films, and pipes

Currently, Asia-Pacific is the largest market for plastic additives. The growing packaging industry coupled with the increased demand from the retail industry drives the market of plastic additives in the region. Polymer industries are witnessing high growth in developing nations such as India and Brazil due to their growing economies. The Middle East & Africa is projected to be the second-fastest growing market for plastic additives between 2016 and 2021. This growth is attributed to rising packaging and automotive sectors in the region.

Plastic Additives Market

The major factor restraining the growth of the plastic additives market is stringent government regulations against the use of environmentally harmful products. The use of innovative technology to reduce the environmental issues is expected to offer opportunities for players in the market.

Some of the key players of the plastic additives market are Songwon Industrial Co. Ltd. (South Korea), Albemarle Corporation (U.S.), Clariant AG (Switzerland), BASF SE (Germany), The Dow Chemical Company (U.S.), and others. These players offer wide range of products to meet the market requirements and compete with each other with respect to prices.

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