PUBLISHER: Value Market Research | PRODUCT CODE: 1548086
PUBLISHER: Value Market Research | PRODUCT CODE: 1548086
The global demand for Plastic Additives Market is presumed to reach the market size of nearly USD 79.1 Billion by 2032 from USD 44.5 Billion in 2023 with a CAGR of 6.6% under the study period 2024-2032.
A plastic additive is a chemical compound that is added to polymers to improve the chemical and physical properties of plastic products. It acts as a catalyst or filler to improve the strength to weight ratio, luster, durability, corrosion resistance and heat sensitivity of the product. Some of the commonly used plastic additives include property extenders, modifiers, and stabilizers and processing aids, these are used for commodity, engineering and high-performance plastics. Owing to these advantages and features, they find extensive applications across various industries, including packaging, construction, automotive and manufacturing.
The rapid industrialization across the globe is key factors driving the growth of the market. Replacement of conventional materials used in the production of consumer goods and various textiles, agricultural and medical products with the new high-performance product is providing a boost to the market growth. For instance, plastic products with enhanced mechanical and electrical properties are used in place of traditionally used materials, such as glass, paper, ceramic and metal. Additionally, the rising product demand from the packaging industry is also creating a positive outlook for market growth. Polyvinyl chloride (PVC), polyethene terephthalate (PET), low-density polyethene (LDPE), and high-density polyethene (HDPE) are among the most commonly used packaging materials across the globe. They are often treated with plastic additives to extend their operational life, appearance and mechanical properties. Growing demand for disposable and reusable plastic products from the medical industry, along with the widespread adoption of 3D printing technologies, are projected to drive the market further. However, stringent government regulation regarding the plastic additive is restraining the growth of the market.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of Plastic Additives. The growth and trends of Plastic Additives industry provide a holistic approach to this study.
This section of the Plastic Additives market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Plastic Additives market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Plastic Additives market include BASF SE, SABIC, DuPont, ExxonMobil Chemical, Mitsui Chemical, The Dow Chemical Company, Biesterfield Plastic GmbH. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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