July26,2022/IndustryNewsGlobal/ — The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Plastic Additives Market.
The report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Plastic additives market is likely to grow at a healthy CAGR of 5.0% during the forecast period. The growth in demand for plastic additives is due to the replacement of conventional materials by plastics in various applications and their capability to increase the performance of polymers.
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Plastic Additives Market Share: By Product Type
Based on the product type, the market is segmented as plasticizers, stabilizers, flame retardants, impact modifiers, and others. The plasticizers segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. The growth of the segment can be attributed to plasticizers being economical as compared to other additives. They are generally mixed with polymers or PVC to impart unique technological and physical properties for usage in various applications, such as floor & wall coverings, coating fabrics, and cable jacketing.
Plastic Additives Market Share: By Plastic Type
Based on the plastic type, the market is segmented as commodity, engineering, and high-performance plastics. The commodity plastics segment is expected to remain dominant during the forecast period. Polyethylene (PE), polypropylene (PP), polystyrene (PS), polyvinyl chloride (PVC), polymethyl methacrylate (PMMA), polyphenylene ethers (PPE), and others are the materials used to render specific resin properties to process polymers. Polyethylene (PE) is majorly used in a number of applications, such as general plastic films, packaging bags, medical packaging, green house & tunnel films, pipes, and mulch films.
Plastic Additives Market Share: By Application Type
Based on the application type, the plastic additives market is segmented as packaging, construction, consumer goods, automotive, and others. The packaging segment leads the market owing to change in living standards and globalization, which are accelerating the demand for plastic additives. Some other common applications are electronics, kitchenware, toys, storage containers, cables and pipes, which are contributing to the growth of the segment.
Plastic Additives Market Share: By Region
In terms of regions, Asia-Pacific is estimated to be the largest as well as fastest-growing market for plastic additives during the forecast period, with China, Japan, and India being the major countries of the region. The increasing usage of polymers in the developing economies is driving the market for plastic additives in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Plastic Additives Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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