Global Plastic Additives Market – Industry Trends and Forecast to 2030

Plastic Additives Market Analysis and Size

Plastic additives are the type of ingredients which act as a catalyst or fillers that are added in polymers to improve their sensitivity, durability, and strength. Plasticizers, fillers, antioxidants and impact modifiers among others are the major types of plastic additives.

Increase in the disposable income and rapid urbanization is the vital factor escalating the market growth, also rise in the rapid growth in food packaging industries, increase in the low price and high durability of plastic and increase in the technology advancement are the major factors among others driving the plastic additives market. Moreover, rise in the technological advancements and modernization in the production techniques and rise in the demand from emerging economies will further create new opportunities for the plastic additives market in the forecast period of 2023 to 2030.

However, rise in the stringent governmental regulations regarding environmental concern and fluctuating raw materials pricing are the major factors among others acting as restraints, and will further challenge the growth of plastic additives market in the forecast period mentioned above.

Data Bridge Market Research analyses that the global plastic additives market which was USD 43.90 billion in 2022, is expected to reach USD 68.08 billion by 2030, growing at a CAGR of 5.8% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Plastic Additives Market Scope and Segmentation

Market Definition

Plastic additives are chemicals or substances that are added to plastic materials during their manufacturing or processing to improve their properties or performance. These additives can serve various purposes, including enhancing the material's durability, flexibility, flame resistance, color, and more.

Global Plastic Additives Market Dynamics

Drivers

• Increasing Demand for Plastics

The growing demand for plastics in various industries, including packaging, automotive, construction, and electronics, is a major driver. Plastics are preferred due to their lightweight, durability, and versatility.

• Product Innovation

Advancements in additive technologies and the development of new and improved additives drive market growth. Additive manufacturers continuously innovate to meet evolving industry requirements, such as flame retardancy, UV resistance, and biodegradability.

Opportunity

• Increasing Change in Demographic Trend

Technology has enabled extensive research and development efforts in the field of plastic additives. Cutting-edge laboratories and analytical tools facilitate the discovery and development of new additives with improved properties. CAD software and simulation tools allow additive manufacturers to design and test additives virtually, reducing the need for costly and time-consuming physical prototypes. Modern production facilities incorporate automation and robotics to enhance manufacturing efficiency, reduce labor costs, and maintain consistent product quality. Automated systems can handle repetitive tasks, such as mixing and blending additives, more precisely and quickly than manual labor.

Restraints/Challenges

• Stringent Environmental Regulation

Increasing environmental regulations related to the use of certain additives, such as phthalates and heavy metals, can limit their usage. Regulatory restrictions on additives that are considered harmful to human health or the environment can impact the market.

• Health and Safety Concern

Growing awareness of the potential health hazards associated with certain plastic additives, such as endocrine-disrupting chemicals, can lead to consumer and industry concerns. This may result in reduced demand for additives with perceived health risks

This plastic additives market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the plastic additives market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In September 2022, BASF introduced VALERAS as a pivotal addition to its plastic additives portfolio. VALERAS is designed to enhance plastic applications by providing sustainable advantages through innovative technical solutions and services, facilitating the transition towards a circular economy and achieving net-zero emissions. This comprehensive offering also encompasses a range of antioxidants and light stabilizers.
• In March 2022, BASF unveiled plans to expand the production capacity of its hindered amine light stabilizers (HALS) at facilities located in Italy and Germany. HALS, such as BASF's Tinuvin, Chimassorb, and Uvinul, play a critical role as stabilizing agents in plastics and polymers. These HALS products are instrumental in safeguarding polymers from the harmful effects of UV radiation and effectively preventing free-radical-induced degradation.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Plastic Additives Market Scope

Plastic additives market is segmented on the basis of type, plastic type and end-users. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.

Type

• Lubricants
• Slip Additives
• Antistatic Additives
• Antifog Additives
• Filler Dispersants
• Pigment Wetting Agents
• Antistatic Additives
• Slip Additives
• Flow Improvers
• Processing Aids
• Plasticizers
• Stabilizers
• Flame Retardants
• Impact Modifiers

Plastic Type

• Polyethylene (PE)
• Polystyrene (PS)
• Polypropylene (PP)
• Polyamides (PA)
• Polyethylene terephthalate (PET)
• Polyvinyl chloride (PVC)
• Polycarbonate (PC)
• Other

End-Users

• Food Industries
• Construction
• Packaging
• Automobile Industries
• Electrical and Electronics
• Commercial Use
• Others

Global Plastic Additives Market Regional Analysis/Insights

Plastic additives market is analysed and market size, volume information is provided by type, plastic type and end-users as referenced above.

The countries covered in the plastic additives market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the plastic additives market due to rise in the rapid growth in food packaging industries and increase in the low price and high durability of plastic in this region.

The country section of the plastic additives market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and up-stream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Plastic Additives Market Share Analysis

The global plastic additives market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to plastic additives market.

Some of the major players operating in the global plastic additives market is:

• BASF SE (Germany)
• SONGWON (South Korea)
• Clariant (Switzerland)
• Evonik Industries AG (Germany)
• PMC Group, Inc.(U.S.)
• Albemarle Corporation (U.S.)
• AkzoNobel N.V. (Netherlands)
• Solvay (Belgium)
• DuPont (U.S.)
• Exxon Mobil Corporation (U.S.)
• Mitsui Chemical America, INC (U.S.)
• DOW (U.S.)
• Biesterfield AG (Germany)
• LANXESS (Germany)
• Wacker Chemie AG (Germany)
• Sabo S.p.A (Italy)
• Eriez Manufacturing Co (U.S.)

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