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Opportunities For The Global Plastic Additive Market To Reach $50 Billion By 2023
According to a new market report published by Lucintel, the future of the plastic additive market looks attractive with opportunities in the construction, packaging, consumer goods, and automotive industries. The global plastic additive market is expected to reach an estimated $50 billion by 2023 with a CAGR of 4.2% from 2018 to 2023. The major growth drivers for this market are increasing demand for plastics in various end use markets and increasingly stringent safety standards for smoke and flammability.
In this market, plasticizers, flame retardants, pigments, stabilizers, impact modifiers, antioxidants, blowing agents, lubricants, antistatic agents, and other additives are used to modify and enhance the end use properties of wide range of plastics. Lucintel forecasts that plasticizer will remain the largest additive type over the forecast period supported by growth in demand for flexible polyvinyl chloride (PVC) plastic in film & sheet, wire & cable, and flooring applications. Lucintel predicts that the flame retardant additive is expected to witness the highest growth during the forecast period due to more ...
... stringent fire safety standards and growth in the markets of construction and electrical & electronics.
Within the plastic additive market, construction will remain the largest end use industry during the forecast period due to increasing demand for plastics in construction; these include pipes and fittings, flooring, wall-coverings, and wire and cable applications. Lucintel predicts that the demand for plastic additives for packaging end use is likely to experience the highest growth in the forecast period due to its growing demand in the areas of food and beverages, household products, industrial products, personal care, and pharmaceuticals.
Plastic additives are used in polyvinyl chloride (PVC), polyethylene (PE), polypropylene (PP), other commodity plastics, engineering plastics, and high performance plastics to improve the overall performance and processing properties. PVC will remain the largest segment by plastic type due to high consumption of plasticizer additives in PVC for flexibility. Lucintel predicts that the high performance plastic type will witness the highest growth because of growing demand for plastics such as polyimide (PI), polyether ether ketone (PEEK), and poly-tetrafluoroethylene (PTFE) in the transportation, medical, electronics, and industrial sectors.
Asia Pacific is expected to remain the largest market by value and volume and will experience the highest growth over the forecast period supported by high consumption of plastics in China and India. China is the largest market for plastic additives due to high production of plastics considering the high domestic demand, easy availability of raw materials, low production, and labor cost.
Emerging trends, which have a direct impact on the dynamics of the industry, include the development of bio based plasticizers and growing consumption of nanopowder or nanoparticle aluminum hydroxides. Clariant, BASF SE, ExxonMobil, Akzo Nobel, and The DowDuPont, Evonik Industries, Lanxess, and Nabaltec are among the major manufactures of plastic additives.
Lucintel, the leading global strategic consulting and market research firm, has analyzed growth opportunities in the global plastic additive market by product type, by end use industry, by plastic type, by function, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Plastic Additive Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global plastic additive market by product type, by end use industry, by plastic type, by function, and region as follows:
By Product Type [Volume (Kilotons) and $M shipment analysis for 2012 – 2023]:
• Flame Retardant
• Impact modifier
• Blowing agent
By End Use Industry [Volume (Kilotons) and $M shipment analysis for 2012 – 2023]:
• Consumer Goods
By Plastic Type [Volume (Kilotons) and $M shipment analysis for 2012 – 2023]:
• Polyvinyl Chloride (PVC)
• Polyethylene (PE)
• Polypropylene (PP)
• Other Commodity Plastics
• Engineering Plastics
• High Performance Plastics
By Function [Volume (Kilotons) and $M shipment analysis for 2012 – 2023]:
• Property Modifiers
• Property Stabilizers
• Property Extenders
• Processing Aids
By Region [Volume (Kilotons) and $M shipment analysis for 2012 – 2023]:
• North America
• Asia Pacific
• The Rest of the World
This 242-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or firstname.lastname@example.org. Lucintel offerings include Chemical Market Research Reports, Chemical Industry Analysis Report, Opportunity Screening and Analysis, Strategic Growth Consulting and Capital Investment Analysis.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high-growth opportunities for the global plastic additive market by product type (plasticizers, flame retardants, pigments, stabilizers, impact modifiers, antioxidants, blowing agents, and others), end use industry (construction, packaging, automotive, consumer goods, and others), plastic type (polyvinyl chloride (PVC), polyethylene (PE), polypropylene (PP), other commodity plastics, engineering plastics, and high performance plastics), by function (property modifiers, property stabilizers, property extenders, and processing aids) and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?
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