Plastic Additives Market Size, Share, Trends, Analysis, Key Players, Report, Forecast 2023-2033
The global plastic additives market is estimated to garner a revenue of ~ USD 70 Billion by the end of 2033 by growing at a CAGR of ~5% over the forecast period, i.e., 2023 – 2033.
Research Nester assesses the growth of global plastic additives market which is anticipated to be on account of the growing and expansion of plastic industry in the recent period.
New York – October 28, 2022 - Research Nester’s recent market research analysis on “Plastic AdditivesMarket: Global Demand Analysis & Opportunity Outlook 2033” delivers a detailed competitors analysis and a detailed overview of the global plastic additives market in terms of market segmentation by type, plastic type, application, and by region.
Growing Need for Plastic Products to Drive Growth of Global Plastic Additives Market
A plastic additive is a chemical compound that is added to polymers to improve the chemical and physical properties of plastic products. It acts as a catalyst or filler to improve the strength to weight ratio, luster, durability, corrosion resistance and heat sensitivity of the product. Some of the commonly used plastic additives include property extenders, modifiers, stabilizers and processing aids, which are used for commodity, engineering and high-performance plastics. Owing to these benefits, they also find extensive applications across various industries, including packaging, construction, automotive and manufacturing.
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The market research report also includes other growth factors and challenges that are associated with the growth of the global plastic additives market. Some of the major growth indicators are:
Expansion of Automotive Industry
Rapid Growth in Packaging Industry
The rising awareness of plastic waste along with the possibility of adverse effect on health and environment and stringent rules by government to protect the environment are some of the major factors anticipated to hamper the growth of the global plastic additives market. Despite of the numerous restraint factors associated with the growth of the market, Research Nester’s analysis indicates a robust growth for the market during the forecast period
The market research report on global plastic additives encompasses an in-depth analysis of the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends. These analyses help organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future. Additionally, the growth opportunities exposed by the market is poised to gain significant momentum in the next few years.
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By application, the global plastic additives market is segmented into packaging, automotive, agriculture, building & construction, consumer goods, electronics, and others. Out of these, the automotive segment is expected attributed to garner the highest market share by 2033, owing to the high demand and production of vehicles by the burgeoning population.
By region, the Asia Pacific plastic additives market is to generate the highest revenue by the end of 2033. This growth is anticipated by higher number of people demanding higher quality of plastic additives for varied purposes. Therefore, the high consumption rate of plastic and plastic products are anticipated to be the growth factors of the market in the region.
The research is global in nature and covers detailed analysis on the plastic additives market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising of global plastic additives market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
This report also provides the existing competitive scenario of some of the key players of the global plastic additives market which includes company profiling of Akzo Nobel N.V., Albemarle Corporation, BASF, Clariant Ltd, DuPont de Nemours, Inc., The Dow Chemical Company, Evonik Industries AG, Kaneka Corporation, SONGWON, LANXESS, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global plastic additives marketthat will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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