Plastic Additives Market Size, Landscape, Industry Analysis, Business Outlook, Current and Future Growth to 2030
The global plastic additives market size reached USD 39.69 Billion in 2021 and register a revenue CAGR of 5.1% over the forecast period, according to the latest analysis by Emergen Research. Plastic additives are substances that are used to process, polymerize, or aid achieve desired properties in the final application of plastics. A few advantages of plastic additives include increased chemical, water, and scratch resistance, decreased coefficient of friction, enhanced gloss, improved water repellency, suppression of shark-skin, and decreased surface roughness. Additionally, plastic additives are utilised to increase the flowability of polymers, which facilitates processing. Internal lubricants improve material flow by lowering viscosity and heat dissipation.
The microbiological deterioration of plastic materials that are prone to staining, odour, discoloration, and aesthetic loss is better avoided by plastic additives than by other additives. The market for plastic additives has grown significantly as a result of these advantages plastic additives have over other additives. Most importantly, materials with mechanical and electrical insulating qualities benefit from the use of plastic additives.
Due to properties like increased plasticity, decreased brittleness, higher elongation, and improved coupling, plastic additives are commonly used in the construction and automotive industries. In the automotive sector, these additives have been widely accepted for use in applications such interior scratch resistance in trims or panels and high glossy panels for the design of central consoles. As the demand for affordable car interiors increases, the market for plastic additives is anticipated to develop. Chemicals are used in the consumer products business because of how easily they can be recycled.
Plastic additives are used in the construction sector to preserve aesthetic qualities, thermal protection, long-term durability, and integrity of polymer properties during processing. The lifespan of construction applications that are UV-sensitive is also increased by plastic additives. The global expansion of the construction sector is predicted to fuel demand for plastic additives.
Some Key Highlights From the Report
Evonik Industries AG began doing research and development (R&D) on November 27, 2019, to create strategies for recycling plastic and rubber. It is currently collaborating with a waste business to maximise polyethylene recycling. The business enhanced the impact strength or flow characteristics of polyethylene by employing its product Vestoplast, an additive that is generally used as adhesives in hot melt, which can aid in the reuse of recyclable plastic.
Due to increased demand as a polymer additive to stop polymers from degrading during processing and maintain their physical qualities, the stabilisers market is anticipated to experience strong revenue growth over the forecast period. For instance, during the production process, heat stabilisers are added to a polymer to safeguard the qualities of the plastic from heat degradation.
In 2021, the high-performance plastics segment’s revenue share was very high. In the electrical and electronics industries, as well as in the aerospace and automotive industries, high-performance plastics are frequently utilised for parts and components.
During the projected period, the Asia Pacific market is anticipated to contribute the greatest revenue share. Demand for plastic additives used in paints and coatings, flame retardants, and other building activities is anticipated to increase due to the region’s rapidly expanding construction industry.
Some major companies in the market report include BASF SE, Clariant AG, The Dow Chemical Company, Albemarle Corporation, Songwon Industrial Co., Ltd., ExxonMobil Chemical, DuPont de Nemours, Inc., Nouryon, Lanxess AG, Evonik Industries AG, and Kaneka Corporation.
Emergen Research has segmented the global plastic additives market on the basis of type, plastic type, and region:
Type Outlook (Revenue, USD Billion, Volume, Kilotons, 2019–2030)
- UV Stabilizers
- Flame Retardant
- Blowing Agents
- Nucleating Agents
Plastic Type Outlook (Revenue, USD Billion, Volume, Kilotons, 2019–2030)
- Commodity Plastics
- Polyethylene (PE)
- Polypropylene (PP)
- Polystyrene (PS)
- Polyphenylene Ethers (PPE)
- Engineering Plastics
- High-Performance Plastics (HPA)
- Commodity Plastics
Application Outlook (Revenue, USD Billion, Volume, Kilotons, 2019–2030)
- Consumer Goods
Regional Outlook (Revenue, USD Billion, Volume, Kilotons, 2019–2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
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