The global additives market forecast was valued at $150.0 billion in 2020, and is projected to reach $212.7 billion by 2028, growing at a CAGR of 4.6% from 2021 to 2028.
Additive is an active substance that is added to improve parameters such as performance, texture, efficiency, shelf life, and productivity. Plastic additives, food additives, construction additives, lubricant additives, fuel additives, coating additives, and agrochemical additives are abundantly available in the market. Moreover, additives such as stabilizers, epoxidized soyabean oil (ESO), and phosphorus-based flame retardant additives are specialty additives that are used in end-use industries such as agriculture, healthcare & pharmaceuticals, and packaging films.
Increase in application of additives in the packaging, food & beverages, and building & construction sectors acts as a key driving force of the global market. In addition, additives are widely used in fertilizers, batteries, fuel, and agrochemicals, which is predicted to boost the market growth during the forecast period. Rise in use of fuel additives products in the petroleum sector helps to improve quality of fuel and enhances petrol's octane rating or act as corrosion inhibitors, which is another factor favorable for the growth of the global market. In addition, lubricity additives are important fuel additives that are used during formulation of diesel that protect internal contact points in fuel pumps and injection systems in diesel engines. Thus, all these factors together are predicted to augment the demand for additives in the global market.
However, extended use of food additives pose health-related issues such as digestive disorders, nervous disorders, respiratory disorders, and skin problems is considerable factor that is predicted to hamper the market growth.
Conversely, rapid industrialization has been witnessed in the emerging economies such as China and India. For instance, the sectors such as plastic manufacturing, construction, energy (powerplants), and agrochemicals are contributing a major share to the growth of the economy, which is predicted to offer potential growth opportunity for the global market during the forecast period.
The global additives market is segmented into product type, end use, and region.
Depending on product type, the global additives market is categorized into plastic, food, construction, lubricant, fuel, coating, agrochemical, medicated feed, and others. The plastic additive is sub-segmented into plasticizers, impact modifiers, UV stabilizers, and others. Food additive is further segregated into preservatives, flavor enhancers, and others. Construction additive is subdivided into retarding agents, waterproofing agents, and others. Lubricant additive is further classified into anti-oxidants, viscosity index improvers, and others. Fuel additive is subcategorized into gasoline stabilizer, octane boosters, and others. Agrochemical additive is further divided into alkoxylates, agricultural emulsifier blend, and others. Coating additive is further differentiated into rheology modifiers, wetting agent, and others. Medicated feed additive is subclassified into antioxidants, antibiotics, and others. Other additives include battery additives, aquafeed additives, silicone additives, and surface additives.
The major end users of additives include packaging, food & beverages, building & construction, chemical, automotive, aerospace, animal husbandry, and others.
Region wise, the global additives market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global additives market profiles the leading players that include BASF SE, Clariant AG, Dow Inc., Evonik Industries AG, Lanxess AG, Eastman Chemical Company, Milliken Chemical, PolyOne Corporation, Sanitized AG, and BioCote Limited.
The global additives market report provides in-depth competitive analysis as well as profiles of these major players.
2. Clariant AG
3. Dow Inc.
4. Evonik Industries AG
5. Lanxess AG
6. Eastman Chemical Company
7. Milliken Chemical
8. PolyOne Corporation
9. Sanitized AG
10. BioCote Limited
Additive is an active substance that is added to improve parameters such as performance, texture, efficiency, shelf life, and productivity. Plastic additives, food additives, construction additives, lubricant additives, fuel additives, coating additives, and agrochemical additives are abundantly available in the market. Moreover, additives such as stabilizers, epoxidized soyabean oil (ESO), and phosphorus-based flame retardant additives are specialty additives that are used in end-use industries such as agriculture, healthcare & pharmaceuticals, and packaging films.
Increase in application of additives in the packaging, food & beverages, and building & construction sectors acts as a key driving force of the global market. In addition, additives are widely used in fertilizers, batteries, fuel, and agrochemicals, which is predicted to boost the market growth during the forecast period. Rise in use of fuel additives products in the petroleum sector helps to improve quality of fuel and enhances petrol's octane rating or act as corrosion inhibitors, which is another factor favorable for the growth of the global market. In addition, lubricity additives are important fuel additives that are used during formulation of diesel that protect internal contact points in fuel pumps and injection systems in diesel engines. Thus, all these factors together are predicted to augment the demand for additives in the global market.
However, extended use of food additives pose health-related issues such as digestive disorders, nervous disorders, respiratory disorders, and skin problems is considerable factor that is predicted to hamper the market growth.
Conversely, rapid industrialization has been witnessed in the emerging economies such as China and India. For instance, the sectors such as plastic manufacturing, construction, energy (powerplants), and agrochemicals are contributing a major share to the growth of the economy, which is predicted to offer potential growth opportunity for the global market during the forecast period.
The global additives market is segmented into product type, end use, and region.
Depending on product type, the global additives market is categorized into plastic, food, construction, lubricant, fuel, coating, agrochemical, medicated feed, and others. The plastic additive is sub-segmented into plasticizers, impact modifiers, UV stabilizers, and others. Food additive is further segregated into preservatives, flavor enhancers, and others. Construction additive is subdivided into retarding agents, waterproofing agents, and others. Lubricant additive is further classified into anti-oxidants, viscosity index improvers, and others. Fuel additive is subcategorized into gasoline stabilizer, octane boosters, and others. Agrochemical additive is further divided into alkoxylates, agricultural emulsifier blend, and others. Coating additive is further differentiated into rheology modifiers, wetting agent, and others. Medicated feed additive is subclassified into antioxidants, antibiotics, and others. Other additives include battery additives, aquafeed additives, silicone additives, and surface additives.
The major end users of additives include packaging, food & beverages, building & construction, chemical, automotive, aerospace, animal husbandry, and others.
Region wise, the global additives market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global additives market profiles the leading players that include BASF SE, Clariant AG, Dow Inc., Evonik Industries AG, Lanxess AG, Eastman Chemical Company, Milliken Chemical, PolyOne Corporation, Sanitized AG, and BioCote Limited.
The global additives market report provides in-depth competitive analysis as well as profiles of these major players.
Key Benefits for Stakeholders
- Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- It outlines the current trends and future estimations of the market from 2020 to 2028 to understand the prevailing opportunities and potential investment pockets.
- The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
- The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
- The profiles of key players and their key strategic developments are enlisted in the report.
Key Market Segments
By Product Type
- Plastic Additive
- Food Additive
- Construction Additive
- Lubricant Additive
- Fuel Additive
- Coating Additive
- Agrochemical Additive
- Medicated Feed Additive
- Others
By End Use
- Packaging
- Food & Beverage
- Building & Construction
- Chemical
- Automotive
- Aerospace
- Animal Husbandry
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Players in the global additives market are:
1. BASF SE2. Clariant AG
3. Dow Inc.
4. Evonik Industries AG
5. Lanxess AG
6. Eastman Chemical Company
7. Milliken Chemical
8. PolyOne Corporation
9. Sanitized AG
10. BioCote Limited
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: GLOBAL ADDITIVES MARKET, BY PRODUT TYPE
CHAPTER 5: GLOBAL ADDITIVES MARKET, BY END-USE
CHAPTER 6: ADDITIVES MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- BASF SE
- Clariant AG
- Dow Inc.
- Evonik Industries AG
- Lanxess AG
- Eastman Chemical Company
- Milliken Chemical
- PolyOne Corporation
- Sanitized AG
- BioCote Limited
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 313 |
| Published | May 2021 |
| Forecast Period | 2020 - 2028 |
| Estimated Market Value ( USD | $ 150 billion |
| Forecasted Market Value ( USD | $ 212.7 billion |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
