Plastic Additives Market Size, Share, Trends, Growth Outlook

The global plastic additives market report analyzes the US$46.2 billion plastics additives market size across six functional classes including Plasticizers, Flame Retardants, Impact Modifiers, Antimicrobials, UV Stabilizers, Antioxidants and others. Further, different types of plastic additives including Property Modifiers, Property Stabilizers, Property Extenders, Processing Aids and analyzed. In terms of end user applications, plastic additive uses including packaging, consumer goods, construction, automotive and other other applications are included.

 

Plastic Additives Market Statistics -

• The global plastic additives industry size stood at US$46.2 billion during 2020.
• We anticipate the industry to increase at a CAGR of 6.3% to reach US$75.3 billion by 2028.
• Among product types, property modifiers market dominated the global plastic additives market, followed by property stabilizers market, property extenders market, and processing aids market.
• Among functional classes, plasticizers dominated the global plastic additives market. The market is closely followed by flame retardants. Further, impact modifiers, antimicrobials, UV stabilizers, antioxidants are the next leading functional classes in decreasing order of market size.
• Among markets, Asia Pacific dominated the global plastic additives market with over half of the global market size in value terms.

 

Global Plastic Additives Market Size Outlook, USD Billion, 2020- 2028

Plastic Additive Companies Profiled in the Report-

• Nouryon (formerly AkzoNobel Specialty Chemicals) - found October 2018
• Dow (The Dow Chemical Company) – found 1897
• Exxon Mobil Corporation (leading international oil and gas company) - found 1999
• BASF SE (world’s largest chemical producer) - found 1865
• Evonik Industries AG (Germany based specialty chemicals company) - found 2007

 

Recent Plastic Additives Deals and News Landscape

• Lanxess acquires the US based specialties company ‘Emerald Kalama Chemical’ to strengthen its presence in consumer care industry

• BASF and Australia based Security Matters Ltd concluded an agreement to jointly develop solutions for plastics traceability and circularity
• LG Chem reports notify that plasticizers accounted for 18% of the company’s revenue
• BASF acquires Sinopec Shanghai Petrochemical Company, Ltd.’s alkoxylates land, building and assets at Shanghai
• Ascend Performance Materials purchases Eurostar Engineering Plastics with large product range in flame-retardant engineered plastics
• Tosoh announced plans to invest US$93 million in June 2020 to increase its bromine production in Japan
• Surge in demand during COVID-19 conditions encourages Gelest to boost its antimicrobials capacity at Morrisville, US
• Songwon launched Songflame WB201 flame retardant during 2020
• Songwon and Disheng Technology Co. Ltd partner for the production of polymer stabilizers

 

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

Packaging

Consumer Goods

Construction

Automotive

Other Applications

 

Plastic Additive Functional Class

Plasticizers

Flame Retardants

Impact Modifiers

Antimicrobials

UV Stabilizers

Antioxidants

Others

 

Plastic Additive Types

Property Modifiers

Property Stabilizers

Property Extenders

Processing Aids

 

Geography

North America

Europe

Asia Pacific

Middle East and Africa

South and Central America

Plastic Additives Market