Global Plastic Additives Market Set to Soar to US$ 66.6 Billion by 2032

Plastic Additives Market

Plastic additives are essential components in the manufacturing of plastic products. These substances, including stabilizers, plasticizers, colorants, and flame retardants, are blended with polymers to enhance their properties. Stabilizers protect plastics from degradation caused by heat and UV exposure, while plasticizers improve flexibility. Colorants add aesthetic appeal and flame retardants increase fire resistance. The use of additives allows plastics to meet specific performance, appearance, and safety requirements, making them a versatile and indispensable material in various industries like automotive, construction, and packaging.

The global Plastic Additives Market is anticipated to reach a value of US$ 66.6 Billion by 2032, expanding at a 4.6% CAGR over the forecast period. A significant production volume of plastic all over the globe is driving sales of plastic additives to improve the quality and functionality of different materials.

Expansion in the building and construction sector, rising electric vehicle production, and ongoing development in the packaging sector will augment the growth in the market. Surging demand for polyethylene, polypropylene, polyvinyl chloride, and other types of plastic for packaging applications will push sales of additives.

With increasing investment by prominent players across emerging countries, the rising inflow of foreign direct investment in the automotive and packaging sectors will bode well for the growth in the market over the forecast period.

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“Growing demand for packaging materials for various applications, along with increasing production of specialty chemicals across the globe will drive sales in the market in the forthcoming years,” says an FMI analyst.

Key Takeaways:

  • By product type, the plasticizer segment is expected to account for about 6% of the overall market share.
  • Based on plastic type, the polyethylene and polypropylene segment is expected to account for more than 48% of the overall consumption.
  • In terms of end use, sales in the packaging segment will increase at a 4.9% CAGR over the assessment period.
  • India will emerge as a lucrative pocket in South Asia plastic additives market, accounting for 2/5th of the total market share.
  • Sales in the China plastic additives market are expected to gain traction at a 5.3% CAGR over the assessment period.

Competitive Landscape

Some of the top plastic additives manufacturers include

  1. BASF SE
  2. Clariant AG
  3. Albemarle Corporation
  4. Songwon Industrial Co., Ltd
  5. Nouryon
  6. LANXESS AG
  7. Evonik Industries AG
  8. Kaneka Corporation
  9. Dow
  10. SABIC
  11. Exxonmobil
  12. Mitsui Chemicals
  13. Badische Anilin- und SodaFabrik SE

Key players are focusing on expanding their production capacity to increase their global presence and to improve sales. Further, players are also investing in product innovation. For instance:

  • In September 2020, Covestro acquired Koninklije DSM N.V.’s resin and functional material business, as well as additives manufacturing, advanced solar coating, and the Niaga innovation project.

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Plastic Additive Market Segmentation

By Product Type:

  • Plasticizers
  • Stabilizers
  • Flame Retardants
  • Impact Modifiers
  • Fillers and Thickeners
  • Nucleating Agents
  • Antioxidants
  • Others

By Application:

  • Packaging
  • Consumer Goods
  • Construction
  • Automotive
  • Others

By Plastic Type:

  • Polyethylene
  • Polypropylene
  • Ethylene Vinyl Acetate
  • PVC
  • Polystyrene
  • Polyethylene Terephthalate
  • Engineering Plastic
  • Thermosets
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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