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Global Green Polymer Additive Market Analysis Trends, Growth, New Opportunity Forecast To 2023
Polymer Additives Market are the minor components, which are added into the polymer to modify some of its properties. They are majorly used to enhance properties of polymer to make it suitable for a specific application. It includes lowering the glass transition temperature of polymer to make it softer, fillers to increase density and make polymer cheaper, oil components to improve rheology of polymer and flame retardants to enhance thermal stability of a polymer.
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Growing consumer awareness regarding negative impacts of synthetic products on human body and natural environment. The focus of consumers is changing from sedentary to healthier lifestyle, not only when it comes to eating healthy but also using biodegradable non-consumable products. One of the major factors driving the growth of the Global Green Polymer Additives is enhanced usage of eco-friendly packaging. The Global Green Packaging Market is estimated to grow at a CAGR of ~7% during the forecast period, which is expected fuel the demand for the green additives.
Demand for Green Plastics and Environmental Concerns Are the Prime determinants Of the Market
A spate of environmental laws exemplified by the European Union forbidding the use of di-octyl phthalate in polymers owing to demand economically sustainable chemical products. Green Polymer Additives are biodegradable additives, which enable the formation of green polymers and help mitigate environmental concerns.
The demand for substituting petroleum-based additives due to environmental concerns over growing plastic pollution, renewable nature, low toxicity and public acceptance of green polymers is another driver of the market. The development of renewable epoxidized soybean oil (ESO) technology-based additives is creating a demand for green polymers in the market.
The prominent players in the global green polymer additive market are Solvay S.A. (Belgium), Evonik Industries AG (Germany), DuPont (U.S.), Clariant AG (Switzerland), The Dow Chemical Company (U.S.), Myriant Corporation (U.S.), BASF SE (Germany), Lanxess A.G. (Germany), AkzoNobel N.V (Netherlands), PolyOne Corporation (U.S.), Emery Oleochemicals Group (Malaysia), and others
To gain a broad picture of the global green polymer additives market, the report is segmented by type, ingredient, application, and region.
Based on the type, the market is divided into plasticizers, stabilizers, fillers, flame retardants, antioxidants, and others.
Based on the applications, the market is segmented into packaging, automotive, biopolymer, injection molding, caps & closures, and others.
Based on regions, the market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa are the five key regions in Green Polymer Additive Market. Among them, North America is anticipated to dominate the Global Green Polymer Additive Market holding 40% of the market share as of 2016.
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In coming years, the region is expected to gain momentum in the field of green chemistry owing to ongoing R&D activities. Latin America is growing at a significant rate in the Global Green Polymer Additives Market, which is projected to leverage upon its success of producing green fuel such as bioethanol and biodiesel. The regional market for Green Polymer Additive has been driven by its demand from household and industrial grade plastic and polymers. The Middle East & African countries may join the hand with lading regions in the Global Green Polymer Additive Market due to increasing use of bio-based polymers in construction and food & beverages industry in this region.
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