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]:
- Plasticizer
- Flame Retardant
- Pigment
- Stabilizer
- Impact modifier
- Antioxidant
- Blowing agent
- Others
By End Use
Industry [Volume (Kilotons) and $M shipment analysis for 2012 – 2023]:
- Construction
- Packaging
- Consumer
Goods
- Automotive
- Others
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
·
Europe
·
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 helpdesk@lucintel.com. Lucintel offerings include Chemical Market Research Reports, Chemical Industry Analysis Report, Opportunity Screening and Analysis, Strategic Growth Consulting and Capital Investment Analysis.
About
Lucintel
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?
