Plastic Additives Market 2021

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Plastic Additives MARKET 2020
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
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Plastic Additives MARKET 2020
Plastic Additives Market 2020 Industry Survey,
Growth, CompetitiveLandscape and Forecasts to
2023
The plastic additives market is predicted to
touch a revenue of USD 900 billion by the end of
2023. The market is anticipated to expand at a
staggering CAGR over the assessment period
(2018-2023) owing to the increasing awareness of
the consumers regarding food contamination,
asserts Market Research Future (MRFR). Plastic
additives are significant chemical components
which are added to polymer or plastic to modify,
alter, and enhance its chemical and physical
properties. The end-product which is obtained
after the addition of additives exhibit physical
properties such as increased density, lower glass
transition temperature, and reduced
weight. Drivers and Restraints Impacting the
Market Plastic additives serve almost all
end-user industries where polymer products are in
use. With the growing consumer awareness
regarding food contamination from containers
along with loose sold food products are driving
the market growth over the forecast period. Also,
the shifting consumer trend from sedentary to a
healthier lifestyle when it comes to consuming
healthier food is favoring the growth for
packaging industry. With the growing use of
eco-friendly packaging materials, the global
plastic additives market is expected to stimulate
over the assessment period. Moreover, the rapid
urbanization along with changing lifestyle of the
people is anticipated to trigger the demand for
plastic additives over the assessment period.
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Plastic Additives MARKET 2020
Market Segmentation The global plastic
additives market has been segmented on the basis
of end-use industry, type, and region. By mode of
type, the global plastic additives market is
segmented into impact modifiers, antioxidants,
UV-stabilizers, plasticizers, flame retardants,
antimicrobials, and others. Among these, the
plasticizers segment was estimated to lead the
market. Use of plasticizers is banned in toys and
childcare articles due to their carcinogenic
nature. Growing regulations regarding workplace
safety has boosted the flame retardants industry
growth. By mode of end-use industry, the global
plastic additives market is segmented into
automotive, packaging, agriculture, electrical
electronics, building construction, consumer
goods, and others. Among these, the packaging
industry holds the largest share owing to its
properties such as low reactivity, lightweight,
availability in various colors, moisture and
chemical resistance, and others. Enquiry of the
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ry/1753
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Plastic Additives MARKET 2020
Regional Analysis
Geographically, the plastic additives market
spans across regions namely, North America, Asia
Pacific, Europe, Latin America, and the Middle
East and Africa. Among all the regions, Asia
Pacific is predicted to dominate the market
globally due to the growing demand for the
product from the packaging industry along with
the increasing population. Moreover, Japan,
China, and India are the major contributors due
to the presence of end-use industries such as
building and construction, packaging, and
consumer goods. The North American region is
estimated to hold the second-largest share owing
to the growing demand for packaging in industrial
and household applications. The US is the major
contributor in this region owing to the presence
of high technological advancements and presence
of major market players. Europe also holds a
significant market share owing to the growing RD
activities in plastic materials. The U.K,
Belgium, Germany, and the Netherlands are the
major economies in this region contributing to
the market growth. Meanwhile, the Latin American
region along with the Middle East and Africa
holds relatively less market share.
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Plastic Additives MARKET 2020
Application Major Players in this Research
Plastic Additives Market Prominent Players Some
of the important players operating the global
market for plastic additives are AkzoNobel NV (
the Netherland), L. N. Chemical Industries
(India), Solvay SA (Belgium), SONGWON (South
Korea), Evonik Industries AG (Germany), PMC
Group Inc. (the U.S), Clariant AG (Switzerland),
Albemarle Corporation (US), BASF SE (Germany),
Styro Chemical Industries (India), and more
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