According to the report by Expert Market Research (EMR), the global plastic additives market size reached a value of nearly USD 54.71 billion in 2023. Aided by rapid urbanisation and rising middle-class population, the market is projected to further grow at a CAGR of 5.3% between 2024 and 2032 to reach a value of around USD 87.08 billion by 2032.
Plastic additives refer to substances added to plastic during the manufacturing process to enhance or modify its properties, performance, or processing characteristics. Each type of additive serves a specific function, such as improving flexibility, durability, UV resistance, thermal stability, colour, or flame retardancy of the plastic material. Plastic additives can include various types such as plasticisers, stabilisers, flame retardants, antioxidants, colourants, lubricants, and UV stabilisers.
With increasing emphasis on sustainability and environmental responsibility, the use of plastic additives is also evolving to meet stringent regulatory requirements. Additives such as antioxidants and UV stabilisers help prolong the life of plastic products, reducing the need for premature replacement and minimising environmental impact.
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As technology continues to advance, new trends are emerging in the plastic additives market. One notable trend is the growing emphasis on bio-based and sustainable additives derived from renewable sources. Manufacturers are increasingly exploring environmentally friendly alternatives to traditional additives, driven by consumer demand for eco-conscious products and regulatory pressures to reduce carbon footprint. This is expected to drive the plastic additives market growth in the coming years.
Plastic Additives Market Segmentation
The market can be divided based on type, plastic type, function, application, and region.
Market Breakup by Type
- Plasticisers
- Flame Retardants
- Impact Modifiers
- Lubricants
- Antioxidants
- Antimicrobials
- UV Stabilisers
- Others
Market Breakup by Plastic Type
- Commodity Plastic
- Engineering Plastic
- High-Performance Plastics
Market Breakup by Function
- Property Stabilisers
- Property Extenders
- Processing Aids
Market Breakup by Application
- Packaging
- Automotive
- Agriculture
- Building and Construction
- Consumer Goods
- Electrical and Electronics
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Plastic Additives Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global plastic additives market. Some of the major players explored in the report by Expert Market Research are as follows:
- Dow Chemical Company
- BASF SE
- Exxon Mobil Corporation
- Nouryon Chemicals Holding B.V.
- Lanxess AG
- Clariant Ltd.
- Adeka Corporation
- SONGWON Industrial Group
- Others
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