Global Plastics Additives Market Projected to Reach $80.7 Billion by 2029

"Innovative and Sustainable: The Plastics Additives Market Expands with High-Performance Solutions for Key Industries"

BOSTON, Jan. 27, 2025 /PRNewswire/ -- According to the latest study from BCC Research, "Global Markets for Plastics Additives" is expected to grow from $61.5 billion in 2024 to $80.7 billion by 2029, at a compound annual growth rate (CAGR) of 5.6% from 2024 through 2029.

The market's growth is propelled by the ability to enhance the properties of plastic products, such as durability, flexibility and thermal stability. This report segments the market by product type, application, and end user. It also covers market dynamics, key manufacturers, ESG trends and the regulatory landscape. The market is analyzed by region into North America, Europe, Asia-Pacific, and the Rest of the World, with market estimates provided in millions of dollars.

The demand for plastics is increasing as environmental concerns push for additives that make plastics more recyclable and eco-friendlier. There is also a need for antimicrobial and hygienic plastic products. New regulations on plastic use are driving the development of better additives. The move towards a circular economy encourages using recycled plastics in valuable applications, meeting environmental and market needs.

The factors driving the market include:

Industrial Demand: Packaging, automotive, and construction industries need enhanced plastic properties. Additives improve plastics' durability, stability, and appearance, driving demand as these industries grow.

Emerging Economies: Rapid industrialization in emerging economies, especially Asia-Pacific, boosts plastic consumption. Increased purchasing power and urbanization increase demand for plastic products and packaging.

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Report Synopsis 

Interesting facts:

•         Special plastic additives can make them anti-microbial, and UV, and heat-resistant, which encourages this use in healthcare and consumer products.

•         Plastic additives are gaining attention in 3D printing. Adding these additives during the compounding process can create new and unique parts and components.

The report addresses the following questions:

1.      What is the projected size and growth rate of the market?

•         The estimated size of the plastics additives market is projected be $80.7 billion by the end of 2029, with a CAGR of 5.6%.

2.      What market segments are covered in the report?

•         The market is segmented by product type, application, industry, and region. Product types include plasticizers, fillers and reinforcements, flame retardants, impact modifiers, antioxidants, heat stabilizers, colorants, lubricants, light stabilizers, biocides, antistatic agents, and others. Applications include packaging, wire and cable, films and sheets, floor/wall/roof covering, and extrusion. Industries include construction, transportation, electronics and electrical, consumer goods, medical and healthcare. Regional estimates and forecasts are made for North America, Europe, Asia-Pacific, and the Rest of the World (RoW).

3.      Which end-user segment will dominate the market in 2029?

•         The construction segment will continue to dominate the market through 2029.

4.      Which region has the largest share of the market?

•         Asia-Pacific holds the largest market share due to the extensive production of plastics and the high demand for automotive and electronics applications in this region.

Market leaders include:

•         ADEKA CORP.

•         ALBEMARLE CORP.

•         ARGUS ADDITIVE PLASTICS

•         AMPACET CORP.

•         AVIENT CORP.

•         BAERLOCHER

•         BASF

•         BYK-CHEMIE GMBH (ALTANA)

•         CLARIANT

•         DOW

•         EVONIK INDUSTRIES AG

•         LANXESS

•         MILLIKEN

•         SAKAI CHEMICAL INDUSTRY CO. LTD.

•         SONGWON

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