Plastic Additives Market

The growth of the market is attributed to the advantages of plastic additives in the construction industry and ongoing developments in the sector.

PORTLAND, OREGON, UNITED STATES, November 23, 2023 /EINPresswire.com/ -- Allied Market Research has recently released a comprehensive report titled "Plastic Additives Market," covering various types such as Plasticizers, Flame Retardants, Impact Modifiers, Lubricants, Antioxidants, Antimicrobials, UV Stabilizers, and Others. The plastic additives market is segmented based on plastic type into Commodity Plastic, Engineering Plastic, and High-Performance Plastics. Applications covered in the report include Packaging, Automotive, Agriculture, Building & Construction, Consumer Goods, Electrical & Electronics, and Others.

According to the report, the global plastic additives industry was valued at $50.6 billion in 2021 and is projected to reach $83.8 billion by 2031, exhibiting a Compound Annual Growth Rate (CAGR) of 5.1% from 2022 to 2030. The growth of the market is attributed to the advantages of plastic additives in the construction industry and ongoing developments in the sector.

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Key Drivers, Restraints, and Opportunities:

Drivers: Advantages of plastic additives in the construction industry and ongoing developments in the sector.

Restraints: Disadvantages associated with lubricants in the industry.

Opportunities: Effective solutions for waste management and the use of lubricants promoted by government bodies in the APAC region.

Covid-19 Scenario:

The COVID-19 pandemic disrupted production activities in various industries, impacting the demand for plastic additives negatively. However, the market is in the recovery phase and is expected to regain momentum soon.

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Segmentation:

Type: Plasticizers held the major share in 2022, while the antioxidants segment is projected to witness the fastest CAGR of 5.7% throughout the forecast period.

Plastic Type: High-performance plastics dominated in 2022, contributing to around three-fifths of the market share. The commodity plastic segment is expected to have the fastest CAGR of 6.0% from 2022 to 2030.

Regional Insights:

Asia-Pacific: Dominated in 2022 and is anticipated to have the fastest CAGR of 5.7% throughout the forecast period. Growing demand for plastic products in India and China is a significant factor driving market growth.

𝐃𝐨 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 https://www.alliedmarketresearch.com/purchase-enquiry/220

Key Players:

Badische Anilin- und SodaFabrik SE
Clariant Ltd.
Songwon Industrial Co. Ltd.
Evonik Industries AG
Exxon Mobil Corporation
Kaneka Corporation
Albemarle Corporation
Lanxess Corporation
Nouryon
Dow Chemical Co.

The report provides a detailed analysis of market trends, key segments, investment opportunities, the value chain, and the competitive scenario. For more detailed information, you can access the full report

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About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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