Global Plastic Additives Market 2017-2021
About Plastic Additives
Plastic additives are the materials or agents added to the plastic to improve, retain, or modify the properties of the plastic. Plastic additives improve processing conditions, stability, curb surface tension, control blocking, protect from getting oxidized, ensure resistance from flames, and provide the required stability to the final product. Plastics cannot work without additives. With the help of additives, plastics can be made safer, cleaner, tougher, and colorful.
Technavio’s analysts forecast the global plastic additives market to grow at a CAGR of 5.06% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global plastic additives market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Plastic Additives Market 2017-2021
Technavio recognizes the following companies as the key players in the global plastic additives market: BASF, Clariant, The Dow Chemical Company, Evonik Industries, ExxonMobil, LANXESS, and Mitsui Chemicals.
Other Prominent Vendors in the market are: Adeka Corporation, AkzoNobel, Albemarle Corporation, Baerlocher Group, Emerald Performance Materials, Grafe Advanced Polymers, Kaneka Corporation, Milliken, PolyOne, Sabo, Sakai Chemical Industry, and Songwon.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing demand for bio-based plasticizers. Petrochemical based-plasticizers, such as phthalates, are crucial in the manufacture of plastics, especially PVC. Phthalates-based plasticizers dominate the worldwide plasticizer market. The rising stringent environmental regulation and increasing health concern associated with the application of plasticizers are inspiring the demand for bio-plasticizers globally.”
According to the report, one driver in the market is rising demand from the automotive segment. The size of the plastic additives market is likely to grow at a significant rate during the forecast period owing to the increasing demand from the automotive sector, which is likely to be the major driver for the plasticizer market in the future. Plastic additives aid and increase the plasticity and viscosity of materials and are generally mixed with PVC and other polymers to enhance unique properties. The expanding automotive industry and the rising demand for PVC products in automotive products are likely to boost the market in the coming years.
Further, the report states that one challenge in the market is ban of phthalates plasticizers. Plastic additives are the major business for the specialty chemicals industry. Plasticizers are the largest segment in the plastic additives market. However, with the recent ban on the use of phthalates, the plasticizers market is facing a hindrance in growth. The plastic industry has been ordered to stop the use of flexible PVC because of the potentially adverse effect on the human reproductive system. The increasing awareness of the safety and environment in regard to the application of phthalates are leading to the rising demand for non-phthalates.
BASF, Clariant, The Dow Chemical Company, Evonik Industries, ExxonMobil, LANXESS, and Mitsui Chemicals, Adeka Corporation, AkzoNobel, Albemarle Corporation, Baerlocher Group, Emerald Performance Materials, Grafe Advanced Polymers, Kaneka Corporation, Milliken, PolyOne, Sabo, Sakai Chemical Industry, and Songwon.
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