+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Plastic Additives Market - Forecast (2022 - 2027)

  • PDF Icon


  • 136 Pages
  • January 2022
  • Region: Global
  • IndustryARC
  • ID: 5616255
The plastic Additive Market size is forecast to reach $60.5 billion by 2027, after growing at a CAGR of 5.1% during 2022-2027. Plastic additives are ingredients that are added to the polymers to improve the strength, durability, heat sensitivity, to enhance the process-ability, and appearance of the polymer. Due to increase in demand for electric vehicles especially in the APAC region, is boosting the demand for the plastic additive market as they are used in automobile components. Furthermore, the increase in population has boosted the demand for residential building and the need for consumer durable goods further drive the growth of the plastic additives market size. Whereas, owing to the stringent environment norms, there is a growing demand for conventional and biodegradable plastics in several industrial applications, which in turn also drive the growth of plastic additive market share during the forecasted period.

Plastic Additive Market Overview Report Coverage

The report: “Plastic Additive Market - Forecast (2022-2027)” covers an in-depth analysis of the following segments of the Plastic Additive Industry.
  • By Type: Functionalizing Agents (Lubricants, Flame Retardants, Antistatic Agents, Plasticizers, Fillers, and Others), and Polymer Stabilizer (Antioxidants, Metal Deactivators, Ultraviolet Absorbers, and Others).
  • By Plastic Type: Polyamide, Polycarbonate, Polyethylene, Polyester, Polypropylene, Polyurethanes, Polyvinyl Chloride, and Others.
  • By End User: Packaging (Rigid and Flexible Packaging), Building and Construction (Fitting, Window Profile, and Others), Automotive and Transportation (Interior, Exterior, and Others), Consumer Goods & Durables, Medical, and Others.
  • By Geography: North America, South America, Europe, APAC, and RoW.

Key Take away

In the North America region, the US dominate the market throughout the forecast period due to high demand from the automotive and packaging industries.

Increasing demand for plastics components due to rapid urbanization and rising purchasing power among consumers further boost the markets growth.

The rapid industrialization across the all the economies is one of the key factors driving the growth of the market.

Furthermore, the change in the application of conventional materials for the production of consumer goods and various textiles, agricultural, and medical products will also provide a boost to the market.

Volatile crude oil prices and the emergence of COVID-19 acts as a restraining factor to the growth of this market.

Segment Analysis

Plastic Additive Market Segment Analysis - By Type

The plasticizer segment dominated the global plastic additives market with a share of more than 30% in 2020. The surging uses of plasticizers across various industry verticals like electronics, medical, packaging, and automotive applications further drive the market growth. Plasticizers are unique types of additives. For instance, without plasticizers, PVC would have been extremely fragile and brittle. In addition, Plasticizer makes plastics elastic, extensible, and flexible. Besides, the surging uses of plasticizers in the building and construction sector further contribute to the growth of this market. According to the Oxford Economics report, the global construction industry is expected to reach an estimate of $17.5 trillion by 2030, of which the United States, China, and India taking a major share. Thus, the growth in the construction sector globally also contribute to the growth of this market.

Plastic Additive Market Segment Analysis - By Plastic Type

The polypropylene segment held the largest share of more than 40% in the plastic additives market in 2020. PP is a rigid and crystalline thermoplastic that is widely used to produce battery cases, cleaning products, bleaches, consumer goods, and medical devices. In addition, surging uses of PP as a raw material for manufacturing Personal Protective Equipment (PPE) as a safety kit to avoid COVID - 19 transmission further propels the market growth. Besides, the Packaging industries is also drive the markets growth owing to the growing uses of polypropylene to produce containers and lids for food and beverages, chemicals as well as industrial and household products. Thus, the growing demand for PP products also contribute to the market growth.

Plastic Additive Market Segment Analysis - By End User

The packaging Industry held the largest share of more than 35% in the plastic additives market in 2020. The changing lifestyle of consumers, the growing e-commerce sector, and the rising population drive the market growth. For instance, according to a report published by United Nation Conference on Trade and Development (UNCTAD), the global e-commerce sales estimated to hit $25.6 trillion in 2018 which was an increase of 8% from 2017, again in 2019 the total e-commerce sale was $29 trillion. Additionally, According to ASSOCHAM, around 120 million Indian are expected to adopt online shopping by 2020. Moreover, according to the Associated Chamber of Commerce and Industry of India (ASSOCHAM) report, the packaging industry in India is forecasted to value USD 72.6 billion by 2020. Thus, the growth in the e-commerce sector and packaging industry will positively affect the plastic additives market growth.

Plastic Additive Market Segment Analysis - By Geography

Asia-Pacific region held the largest share of more than 45% in the plastic additives market followed by the Europe and North America region in 2020. The developing construction industry, increasing demand for electrical and electronics products, and growing demand for e-buses will significantly drive plastic additives market growth in this region. India, China, and Japan are the major contributors to the regional market owing to the significant presence of leading end-use industries such as packaging, consumer goods, and building & construction further drive the market for plastic additives in the region.

Plastic Additive Market Drivers

Replacement of Conventional Plastic with Eco Friendly Plastic

Growing awareness about the impact of chemicals on the environment and ecosystem has propelled the demand for eco-friendly plastic. Moreover, the stringent regulation regarding plastic uses in the Europe and North America region further pushed the manufacturers to develop environmentally friendly additives such as starch, bioaugmentation, and Pro-oxidant for plastic products. These additives are safe and pose less or no threat to the environment and boosting the growth of the global plastic additives market. Besides. Germany, Italy and the UK are the major countries has a major focus on the producing and using eco-friendly plastic or biodegradable plastic. Moreover, eco-friendly additives are easy to manufacture and cost-efficient, which is also a prominent factor in the growth of the market.

Developing Urbanization drive the demand for plastic

According to a UN report, around 55% of the global population resides in urban areas, and is expected to increase to 68% by 2050. The growth in the urban population creates demand for the automotive and transportation sector, which in turn further drive the demand for plastic materials. In automobiles, the polyamide is used in gears, cams, bearings, and water-proofing, thus creating the demand for the market. Moreover, the growing urbanization also increases the demand for a small compact residential building. In residential buildings, the plastic material is used across various applications like water pipes, electrical switches, wiring & cables, and insulation purposes. Besides, the growing renewable sector also drive the market growth. As plastic material is used in the manufacturing of light weight and high-performance solar panels and blades for wind turbines. Thus, the durability and lightweight properties of plastic are likely creating a demand in the market.

Plastic Additive Market Challenges

Government Regulation Due to Environmental Concern

An increase in environmental awareness and stringent government regulation on the commercial application of the plastic products are negatively affecting the plastic additives market. Plastic is causing a major environmental concern globally and the government is bringing many bans and regulation on plastic use. In addition, the ban imposed by the developed and developing countries on the use of plastic products is also restraining the market growth. For instance, in 2017, the use of phthalates was banned by the Unite States mostly in children toys. Morocco had announced a nationwide ban on the production and use of plastic bags in 2016. The National Green Tribunal (NGT) has announced a ban on disposable plastic like cutlery, bags, and other plastic items amid concern over India's growing waste. The ban came into effect on January 1, 2017. Thus, all the regulation and plastic ban are hindering the growth of the plastic additives market.

Covid-19 Impact

The COVID-19 pandemic continues to unfold everyday with a severe impact on people, communities, and businesses. The growth in several industries will be impacted significantly while numerous other markets may remain unscathed and show promising growth opportunities. The growing pandemic situation has led to the weakening demand for plastic additives in the construction and automotive industries as they are facing a negative growth rate. However, from medical supplies to food packaging, plastics are becoming essential in the effort to stop the spread of the virus. This brings hope for the plastic additives market growth.

Plastic Additive Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Plastic Additive Market report. In 2020, the market of plastic additives has been consolidated by the top 10 companies accounting for xx% of the share. Major players in the Plastic Additives Market are PMC Group, Inc., E.I. DuPont de Nemours, Solvay SA, ExxonMobil Chemical, Biesterfield Plastic GmbH., Chemtura Corp., Amfine Chemical Corp, BASF SE, Croda International PLC, Songwon Industrial Co. Ltd., Albemarle Corp., Clariant AG, Evonik Industries AG, and Forecast 3D (GKN Powder) among others.

Acquisitions/Technology Launches

In October 2019 - GKN Powder Metallurgy, the world’s largest producer of metal powder and parts, acquired FORECAST 3D, a leading US specialist in plastic additive manufacturing offering a full range of services from concept to series production. With this acquisition, the GKN Powder to enter into the plastic additives business, which will further boost the markets growth.

In March 2019, BASF SE has announced that it has launched Plurafac LF RA-P, a rinse aid additive developed for plastic surfaces and plastic dishware in North America. With this new launch BASF will enhance its offering of plastic additive in North America, which will further drive the markets growth.

In October 2019, Songwon Industrial Co., Ltd. has announced it has launched a new family of Flame-Retardant which are functioning agents for plastic additives, which is designed to provide high performance and competitive advantages. With this new launch “SONGWON” will enhance the performance of its offering, which will further drive the markets growth.

This product will be delivered within 2 business days.

Table of Contents

1. Plastic Additives Market- Market Overview
1.1 Definitions and Scope
2. Plastic Additives Market - Executive Summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key trends by Type
2.3 Key trends by Plastic Type
2.4 Key Trends by End User
2.5 Key trends by Geography
3. Plastic Additives Market - Landscape
3.1 Comparative analysis
3.1.1 Market Share Analysis- Top Companies
3.1.2 Product Benchmarking- Top Companies
3.1.3 Top 5 Financials Analysis
3.1.4 Patent Analysis- Top Companies
3.1.5 Pricing Analysis
4. Plastic Additives Market - Market Forces
4.1 Market Drivers
4.2 Market Constraints
4.3 Market Opportunities
4.4 Porters five force model
4.4.1 Bargaining power of suppliers
4.4.2 Bargaining powers of customers
4.4.3 Threat of new entrants
4.4.4 Rivalry among existing players
4.4.5 Threat of substitutes
5. Plastic Additives Market - Strategic Analysis
5.1 Value Chain Analysis
5.2 Opportunity Analysis
5.3 Product Life Cycle
5.4 Supplier and Distributor
6. Plastic Additives Market - By Type (Market Size -$Billion)
6.1 Functionalizing Agents
6.1.1 Lubricants
6.1.2 Flame Retardants
6.1.3 Antistatic agents
6.1.4 Plasticizers
6.1.5 Fillers
6.1.6 Others
6.2 Polymer Stabilizers
6.2.1 Antioxidants
6.2.2 Metal Deactivators
6.2.3 Ultraviolet Absorbers
6.2.4 Others
7. Plastic Additives Market - By Plastic Type (Market Size -$Billion)
7.1 Polyamide
7.2 Polycarbonate
7.3 Polyethylene
7.4 Polyester
7.5 Polypropylene
7.6 Polyurethanes
7.7 Polyvinyl Chloride
7.8 Others
8. Plastic Additives Market - By End User (Market Size -$Billion)
8.1 Packaging
8.1.1 Rigid Packaging
8.1.2 Flexible Packaging
8.2 Building and Construction
8.2.1 Fitting
8.2.2 Window Profile
8.2.3 Others
8.3 Automotive and Transportation
8.3.1 Interior
8.3.2 Exterior
8.3.3 Others
8.4 Consumer Good & Durables
8.5 Medical
8.6 Others
9. Plastic Additives Market - By Geography (Market Size -$Billion)
9.1 North America
9.1.1 U.S
9.1.2 Canada
9.1.3 Mexico
9.2 South America
9.2.1 Brazil
9.2.2 Argentina
9.2.3 Colombia
9.2.4 Chile
9.2.5 Rest of South America
9.3 Europe
9.3.1 UK
9.3.2 Germany
9.3.3 France
9.3.4 Italy
9.3.5 Netherland
9.3.6 Spain
9.3.7 Russia
9.3.8 Belgium
9.3.9 Rest of Europe
9.4 Asia-Pacific
9.4.1 China
9.4.2 Japan
9.4.3 India
9.4.4 South Korea
9.4.5 Australia and New Zeeland
9.4.6 Rest of APAC
9.5 Rest of the World
9.5.1 Middle East Saudi Arabia U.A.E Israel Rest of the Middle East
9.5.2 Africa South Africa Nigeria Rest of Africa
10. Plastic Additives Market - Entropy
10.1 New Product Launches
10.2 M&As, Collaborations, JVs and Partnerships
11. Plastic Additives Market Company Analysis
11.1 Market Share, Company Revenue, Products, M&A, Developments
11.2 Company 1
11.3 Company 2
11.4 Company 3
11.5 Company 4
11.6 Company 5
11.7 Company 6
11.8 Company 7
11.9 Company 8
11.10 Company 9
11.11 Company 10 and more