How Has the Plastic Additives Market Evolved Historically and What is its Current Size?
The plastic additives market has seen considerable growth due to a variety of factors.
• The plastic additives market has seen strong growth in recent years. It will grow from $59.44 billion in 2024 to $64.27 billion in 2025, at a compound annual growth rate (CAGR) of 8.1%.
Growth factors include the demand for lightweight materials, expansion of the packaging industry, urbanization, and increasing consumer expectations for product quality and durability.
What Is The Projected Growth Of The Plastic Additives Template Market?
The plastic additives market is expected to maintain its strong growth trajectory in upcoming years.
• The plastic additives market is forecasted to grow to $86.67 billion by 2029, at a CAGR of 7.8%.
Growth is driven by economic expansion in emerging markets, rising demand for medical plastics, advanced plastic materials in agriculture, and consumer demand for durable goods and flexible packaging. Trends include biodegradable additives, nanomaterials for improved properties, smart additives, innovations for better recycling, and enhanced UV stabilizers.
What Are The Key Drivers Fueling Growth In The Plastic Additives Market?
The plastic additives market's growth is projected to be fuelled by the growing consumer appetite for electronics. Electronics are systems or parts that regulate the movement of electrons or other electrically charged particles to carry out a variety of tasks. The demand for these items is escalating, given our growing dependency on digital technology for everyday activities like communication, work, entertainment, and automation. Plastic additives play a crucial role in the electronics industry by boosting the performance, longevity, and functionality of components such as circuit boards and casings. They ensure the components function at their best while also safeguarding them against environmental elements. For instance, The Japan Electronics and Information Technology Industries Association reported an increase in the overall production of consumer electronics to $291.81 million (¥32,099 million) in May 2023 from $229.71 million (¥25,268 million) in May 2022. Hence, the escalating consumer demand for electronics is propelling the expansion of the plastic additives market.
What Are The Principal Market Segments In The Global Plastic Additives Industry?
The plastic additives market covered in this report is segmented –
1) By Type: Plasticizers, Flame Retardants, Impact Modifiers, Lubricants, Antioxidants, Antimicrobials, Ultra-Violet (UV) Stabilizers, Other Types
2) By Plastic Type: Polystyrene, Polyvinyl Chloride (PVC), Polypropylene, Polyethylene, Engineering Plastics, Other Plastic Types
3) By Application: Packaging, Automotive, Agriculture, Building And Construction, Consumer Goods, Electrical And Electronics, Other Applications
Subsegments:
1) By Plasticizers: Phthalate-Based Plasticizers, Non-Phthalate Plasticizers, Bio-Based Plasticizers
2) By Flame Retardants: Halogenated Flame Retardants, Non-Halogenated Flame Retardants, Intumescent Flame Retardants, Non-Toxic Flame Retardants
3) By Impact Modifiers: Rubber-Based Impact Modifiers, Acrylic-Based Impact Modifiers, Thermoplastic Elastomer-Based Impact Modifiers
4) By Lubricants: Internal Lubricants, External Lubricants, Fatty Acid-Based Lubricants, Ester-Based Lubricants
5) By Antioxidants: Primary Antioxidants, Secondary Antioxidants, Phenolic Antioxidants, Phosphite-Based Antioxidants
6) By Antimicrobials: Organic Antimicrobials, Inorganic Antimicrobials, Silver-Based Antimicrobials, Copper-Based Antimicrobials
7) By Ultra-Violet (UV) Stabilizers: UV Absorbers, UV Screeners, Hindered Amine Light Stabilizers (HALS)
8) By Other Types: Heat Stabilizers, Processing Aids, Colorants And Pigments, Anti-Static Agents, Blowing Agents
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How Are Emerging Trends Reshaping The Dynamics Of The Plastic Additives Market?
Top firms in the plastic additives market are fostering innovation and developing new products such as biomass balance approach plastic additives to retain a cutting-edge advantage in the market. The distinct biomass balance approach implements renewable resources to fashion plastic additives with a smaller carbon footprint. For example, in September 2023, BASF SE, a chemical corporation from Germany, rolled out a series of biomass balanced plastic additives, notably Irganox 1010 BMBcert and Irganox 1076 FD BMBcert, both certified by TÜV Nord as per the ISCC PLUS standards of international sustainability and carbon certification. These trailblazing solutions champion the use of renewable resources in place of fossil feedstocks, facilitating BASF's clientele to curtail their carbon footprint by as much as 60% against traditional products.
Who Are the Key Players In The Plastic Additives Market?
Major companies operating in the plastic additives market are:
• ExxonMobil Corporation
• BASF SE
• Dow Inc
• Saudi Basic Industries Corporation (SABIC)
• LyondellBasell Industries NV
• Evonik Industries AG
• Solvay S.A.
• Mitsui Chemicals Inc.
• Arkema S.A.
• AkzoNobel N.V.
• Eastman Chemical Company
• Albemarle Corporation
• Lanxess AG
• Lubrizol Corporation
• Clariant AG
• Avient Corporation
• Adeka Corporation
• Kaneka Corporation
• Chemtura Corporation
• Ferro Corporation
• Ampacet Corporation
• Songwon Industrial Co. Ltd.
• Baerlocher GmbH
• Valtris Specialty Chemicals
• PMC Group
What Are The Regional Insights Into The Plastic Additives Market?
Asia-Pacific was the largest region in the plastic additives market in 2024. The regions covered in the plastic additives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
