Pune, 23, Nov, 2022: Maximize Market Research has recently released a new research study titled Plastic Additives Market Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2029”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios. Market size was valued at USD 49.46 Bn. in 2021 and the total Market revenue is expected to grow by 4.8% from 2022 to 2029, reaching nearly 71.97 Bn.
Plastic Additives Market Scope and Research Methodology
The study was conducted using an objective combination of primary and secondary information including inputs and validations from real-time industry experts. An in-depth product and revenue analysis are performed on top Plastic Additives industry players along with their business and geography segmentation. Receive primary inputs from subject matter experts working across the Plastic Additives value chain in various designations. We often use paid databases like faostat for any additional data requirements or validations. In-house experts utilizing sophisticated methods including data triangulation, will connect the dots and establish a clear picture of the current Plastic Additives market conditions, market size, and market shares.
MMR study the value chain, parent and ancillary markets, technology trends, recent developments, and influencing factors to identify demand drivers/variables in the short, medium, and long term. Various statistical models including correlation analysis are performed with careful analyst intervention to include seasonal and other variables to analyse different scenarios of the future Plastic Additives market in different countries. These primary numbers, assumptions, variables, and their weightage are circulated to the expert panel for validation and a detailed standard report is published in an easily understandable format.
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Plastic Additives Market Overview
Applications for plastic additives in packaging, food, consumer products, construction, and automotive are expanding quickly. The market for plastic additives is expected to increase significantly as a result of a reversal in these main market categories and the rising demand for additives in polymers for applications in these segments.
Plastics, especially engineering plastics, have better mechanical and electrical properties than traditional materials like metals, glass, paper, and ceramics. Due to constant innovation and the need for lighter materials in many applications, plastic is replacing these traditional materials since it has higher abrasion resistance and chemical resistance.
Plastic Additives Market Dynamics
Plastic is given a plasticizer treatment to soften and increase its flexibility. As the plasticizer’s molecular weight falls into a specific range of esters that share an acid group, its effectiveness increases. Additionally, as the linearity of the alcohol chain rises, so does plasticizer efficiency.
In order to increase the plasticity and flexibility of a polymer solution, low molecular weight substances known as plasticizers are also added. Because the plasticizers make the polymer solution more suitable for the purpose, they are rapidly being used in a variety of industries, including the construction industry and packaging. Volatility percentage, water extraction percentage, iso-octane extraction percentage, and other physical characteristics may influence the adoption of a plasticizer (such as Di-n-butyl phthalate, Di-iso-octyl adipate, iso-octyl ester of saturated C4-C6 dibasic acid, and more) in an industry application. The use of plasticizer differs in various applications based on these qualities.
There are many prospects for businesses in the plastic adhesives market due to the rising demand for and awareness of food packaged in secure containers and packages. They are responding by making significant investments in research and development as a result of realising the enormous revenue-generating potential in this sector. The goal is to create a new generation of sterile packaging that is more efficient and will keep food safer and fresher for longer. These plastic sticky packets are intended for more costly markets.
Plastic Additives Market Regional Insights
Global market share was dominated by the Asia-Pacific region. Thanks to its affordable raw material prices and plentiful labour, China is one of the most lucrative markets for plastic additives. China produces around 30% of the world’s plastic materials, making it one of the biggest producers in the world.
The plastics industry’s largest end usage is in packaging. The packaging industry in China is anticipated to expand quickly during the forecast period due to the rise in consumer demand for lighter, more affordable, and more convenient packaging. This is projected to have a positive impact on the market for plastic additives. The COVID-19 spread has had a severe impact on the Indian automotive industry, which is currently in a precarious condition. However, government initiatives like the “Make in India” and “Aatma Nirbhar Bharat” programmes are probably going to help the automobile sector.
Plastic Additives Market Segmentation
by Plastic Type
- High-Performance Plastic
- Flame Retardants
- Impact Modifiers
- Consumer Goods
Plastic Additives Market Key Competitors:
- BASF SE
- Clariant AG
- Albemarle Corporation
- Songwon Industrial Co. Ltd.
- LANXESS AG
- Evonik Industries AG
- Kaneka Corporation
- The Dow Chemical Company
- Biesterfield Plastic GmbH
- ExxonMobil Chemical
- Mitsui Chemical
- LG Chem Ltd.
- Lanxess AG
- Grupa Azoty S.A.
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Key questions answered in the Plastic Additives Market are:
- What is Plastic Additives?
- What is the growth rate of Plastic Additives Market during the forecast period?
- What is the nature of competition in Plastic Additives industry in developed economies and developing economies?
- Who are the key players in the Plastic Additives Market?
- Who are the market leaders in Plastic Additives in Europe
- Who are the market leaders in Plastic Additives in USA and Canada
- Who are the market leaders in Plastic Additives in India, China, Japan and South Korea?
- What are the factors affecting growth in the Plastic Additives Market?
- Who held the largest market share in Plastic Additives Market?
- What are the factors for the growth of Asia-Pacific region in Plastic Additives Market?
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Route of administration, Application, Facility of use and Region and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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