Plastic Additives Market Statistics -
Global Plastic Additives Market Size Outlook, USD Billion, 2020- 2028
Plastic Additive Companies Profiled in the Report-
Recent Plastic Additives Deals and News Landscape
Asia Pacific plastic additives hold highest market share globally
Asia Pacific plastic additives markets were the largest during 2020 with over 56% market share, followed by Europe, North America, South and Central America and Middle East & Africa. Among countries, the China plastic additives market, India plastic additives market and South East Asian markets are set to register the fastest growth rates during 2021 to 2028. Strong growth potential in these countries is encouraging plastic additive capacity expansions by global players.
Strong potential for biodegradable plastic additives market
The demand for biodegradable plastics is increasing worldwide due to ban on single use plastic in a few markets, positive demand outlook in packaging industry, and drive towards consumption of eco-friendly plastic. We anticipate the $3.5 billion biodegradable plastic to register around 10.8% CAGR over the forecast period from 2021 to 2028.
Amid such strong potential for biodegradable plastics, we anticipate the demand for biodegradable plastic additives to emerge robustly over the forecast period. Rapid adoption of green plastic additives coupled with strong government support will drive the demand for biodegradable plastic additives.
Growing demand from end-user industries strengthen plastic additives market outlook
The global plastic additives demand is growing significantly in synchronization with growing demand from end-use industries. However, the industry growth is subject to global economic conditions, consumer buyer power and the recent COVID-19 pandemic.
The leading end user industries for plastic additives include including packaging, consumer goods, construction, automotive and other other applications. Of these, packaging industry continues to be the largest market for plastic additives consumption. In particular, high-quality plastic additives that adhere to government regulations and safe for environment will witness strong growth outlook over the forecast period to 2028.
Plastic Additives Market Size Outlook by Types- Property Modifiers, Stabilizers, Extenders, Processing Aids
Plastic Additives Market Size Outlook by Region- Asia Pacific, Europe, North America, Latin America, Middle East Africa
Report Scope and Segmentation-
Applications of Plastic Additives
Plastic Additive Functional Class
Plastic Additive Types
Middle East and Africa
South and Central America
Plastic Additives Market