Plastic Additives Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016–2024

Plastics additives are chemicals which are used to polymerize, process or to achieve desired properties in end use of plastics. They may be all chemical used in plastic industry except monomer, polymer, co-polymer or physical mixture of two polymeric components. Plastic additives offer various characteristics such as improved chemical and water resistance, improved scratch resistance, reduced coefficient of friction, enhancement of gloss, Improved water repellency, suppression of shark-skin and lowered surface roughness.

Plastic additives are used to improve ease of processing of plastics by increasing the flow ability. Internal lubricants help to improve the melt flow of material by dropping the heat dissipation and viscosity. Plastic additives prevent the deterioration of plastic materials where the material is susceptible to microbiological attack. Such attacks can result in staining, odor, discoloration and loss of aesthetics but most important effect is on the electrical insulating properties and mechanical properties.

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Plastic Additives Market Taxonomy

On the basis of product type, the global market is classified into:

Impact Modifiers

Antioxidants

Antimicrobials

Plasticizers

Flame Retardants

UV Stabilizers

On the basis of function, the global market is classified into:

Property Modifiers

Property Extenders

Property Stabilizers

Processing Aids

On the basis of application, the global market is classified into:

Packaging

Automobile

Construction

Consumer goods

Owing to properties such as improved impact strength, improved coupling, higher elongation, reduced brittleness and higher plasticity plastic additives are widely used in automobile and construction industry. In automotive industry plastic additives have gained increased acceptance in applications such as interior scratch resistant applications in trims or panels, in high glossy panels for the decoration of middle consoles. The use of plastic additives has increased rapidly in the consumer goods industry to its ease of recycling. Extend the lifetime of UV sensitive construction applications. In construction industry plastic additives are used to maintain appearance and properties, thermal protection, long-term durability and for maintenance of integrity of polymer properties during processing.

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Plastic Additives Market Outlook – Increasing Demand for Recyclable Materials to be the Major Market Driver

Asia Pacific and North America are expected to be the most potential markets for plastic additives manufacturers. Asia Pacific is projected to witness relatively high growth in terms of value over the forecast period. This is mainly attributed to the anticipated growth in various end use industries such as automotive and construction, especially in developing countries such as China and India. According to IBEF, US$ 300 billion will be generated by the Indian automotive industry by 2026. India Brand Equity Foundation (IBEF) is a Trust established by the Ministry of Commerce and Industry, Department of Commerce in collaboration with the Government of India with the purpose of promoting and creating international awareness of goods manufactured in India. On the other hand, Europe also provides lucrative opportunities for plastic additives manufacturers due to increasing plastic material from automobile, consumer goods, and construction industries among others.

Reusable applications of plastic additives are fueling the demand for plastic additives, especially in Asia Pacific and Middle East regions. Stringent rules and regulations on the use of plastic products is expected to be one of the restraining factors for the growth of plastic additives market over the forecast period. U.S. Food and Drug Administration (FDA)  has implied safety concerns with the use of recycled plastic materials in food-contact for contaminants occurring from the post-consumer material in the final food-contact product made from the recycled material. Developing plastic additives adhering to environmental concerns is a key strategy adopted by the major players. Some of the major companies operating in the global plastic additives market include BASF SE, Songwon Industrial Co. Ltd., Clariant AG, Albemarle Corporation and The Dow Chemical Company.

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