San Francisco, 31
October 2018: Global plastic additives market is expected to grow significantly at a CAGR of 4.5%
from 2015 to 2022, owing to their ability to enhance performance, appearance,
and processability of various polymers. Increasing demand for these additives
is directly proportional to the growing consumption of polymers across the
globe.The global plastic additives market size was 13.18 million tons in 2014.
Additives are used with
different polymers in order to result in maximum output and increase the life
span of the product. Plastic additives are increasingly being used for variety
of functions that include extenders, processing aids, property modifiers, and
stabilizers in industrial applications.
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Extended consumer base,
rapid urbanization and increasing disposable income across various parts across
the globe has led to an increase in the overall usage of plastic additives.
Rapid industrializations coupled with increasing focus on maximizing industrial
output, particularly in emerging economies including China, India and Brazil,
is expected to drive the market at a fast pace over the forecast period. The
global plastic additives industry is anticipated to reach USD 62.50 billion by
2022.
Plasticizers dominated
the global market accounting for 51.7% of the volume share in 2014. However,
they are expected to lose significant market over the forecast period owing to
their carcinogenic properties. The product is being banned from its usage in
child care articles and toys, across numerous regions including Europe due to
its toxic nature. This may result in moderate growth of the segment over the
forecast period.
Property stabilizers
accounted for over 35% of the overall market in 2014. These products are used
for improving physical and thermal stability of the base material. Moreover,
they help in prevention of oxidation, uncontrolled recombination and
cross-linking reactions. The segment is estimated to be worth USD 4.34 billion
by 2022, growing at a CAGR of 4.0% from 2015 to 2022.
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Research at: www.grandviewresearch.com/industry/plastics-polymers-and-resins
On the other hand,
processing aids are anticipated to grow by 7.6% from 2015 to 2022. These aids
improve fusion between two or more different polymers, enhance melt strength
and reduce surface defects, resulting in easy workability and good finishing to
the finished product. Increasing manufacturing output of finished plastic
products in Asia Pacific is expected to drive growth.
Rising awareness
regarding safety coupled with increasing incidents of fire accidents has
resulted in a rising demand for flame retardants and this segment is expected
to grow at 4.8% from 2015 to 2022. Moreover, introduction and implementation of
numerous regulations and norms is expected to drive demand.
Developments of plastic
additive products and their variants having application according to their
functionality and performance qualities are major drivers of the market.
Emerging economies including India and China are setting up new plants and
facilities to mark a global presence to cater to the rising demand for these
products.
Asia Pacific dominated
the global market in 2014 valued at USD 15.70 million. Increasing industrial
output in Malaysia, India, Indonesia, and China is expected to drive the
regional demand over the next few years. Germany, the U.S., France, and UK are
anticipated to create high demand for plasticizers, flame retardants, UV
stabilizers, and other additives. North American industry is expected to grow
at a CAGR of 4.1%, while Europe is likely grow at a CAGR of 3.9% from 2015 to
2022, in terms of volume.
Key players present
within the market include BASF SE, DuPont, SABIC, ExxonMobil Chemical, The Dow
Chemical Company, Mitsui Chemical, and Biesterfield Plastic GmbH.
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