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Plastic Additives Market worth $59.9 billion by 2026 - Exclusive Report by MarketsandMarkets™

 



(IT-NEWSWIRE.COM, October 15, 2021 ) The report "Plastic Additives Market by Type (Plasticizers, Stabilizers, Flame Retardants, Impact Modifiers), Plastic Type (Commodity, Engineering, and High-Performance), Application (Packaging, Consumer Goods) and Region- Global Forecast to 2026", is projected to reach USD 59.9 billion by 2026, at a CAGR of 5.6 % from USD 45.6 billion in 2021. Additives are added to plastics to improve their physical properties such as strength, chemical and heat resistance, clarity, weather resistance, and color preservation. Plastic additives are used to modify the physical or chemical properties of polymers to reinforce their mechanical properties, making them stronger and better for end-use applications. They are used in a variety of applications. Some of the important end-use applications of plastic additives are packaging, consumer goods, construction, and automotive.

Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=722

Packaging is the largest end-use application of the plastic additives market. APAC was the largest market for plastic additives in 2020, in terms of both volume and value. Factors such as growing demand from packaging industry, rapid industrialization in growing economies like China & India and increasing demand for plastic molds in electric vehicles will drive the plastic additives market.

“Packaging is the largest application for plastic additives market during the forecast period”

The major factor that aids the growth of the packaging industry is rapid urbanization, changing consumer lifestyle, economic trends, and rising health awareness among different classes of consumers and development in packaging material and technology. The various properties of plastics, such as durability, low cost, resistance to corrosion and water & chemicals, and low thermal conductivity make them suitable for use in various applications. Rise in the use of plastics in heavy and light packing drives the demand for plastic additives. The demand for plasticizers, flame retardants, and stabilizers is growing with the increasing demand for plastics in packaging.

Don't miss out on business opportunities in Plastic Additives Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=722

Browse in-depth TOC on "Plastic Additives Market”
294 - Market Data Tables
62 - Figures
284 - Pages

“APAC is expected to be the largest plastic additives market during the forecast period, in terms of value and volume.”

The APAC comprises major emerging nations such as China and India. Hence, the scope for the development of most industries is high in this region. The plastic additives market is growing significantly and offers opportunities for various manufacturers. The APAC region constitutes approximately 61.0% of the world’s population, and the manufacturing and processing sectors are growing rapidly in the region. The APAC is the largest plastic additives market with China being the major market which is expected to grow significantly. The rising disposable incomes and rising standards of living in emerging economies in the APAC are the major drivers for this market.

The increasing population in the region accompanied by the development of new technologies and products is projected to make this region an ideal destination for the growth of the plastic additives market. However, establishing new plants, implementing new technologies, and creating a value supply chain between raw material providers and manufacturing industries in the emerging regions of the APAC is expected to be a challenge for industry players as there is low urbanization and industrialization. Booming automotive, consumer goods, and packaging sectors and advances in process manufacturing are some of the key drivers for the market in the APAC. Countries such as India and China are expected to witness high growth in the plastic additives market due to the increasing demand from the automotive industry.

The key players in this market are BASF SE (Germany), Clariant AG (Switzerland), Albemarle Corporation (U.S.), Songwon Industrial Co. Ltd. (South Korea), Nouryon (Netherland), LANXESS AG (Germany), Evonik Industries AG (Germany), Kaneka Corporation (Japan), and The Dow Chemical Company (U.S.).The global and regional players have sizable shares in the plastic additives market. The key players in the market are focusing on strategies, such as new product launches, partnerships & agreements, acquisitions, and expansions, to expand their businesses globally.

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


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Mr. Aashish Mehra

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raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com

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