Plastic Additives Market - By Type (Antioxidants, Plasticizers, Stabilizers, Flame retardants, Rheology), By End Use (Automotive, Construction, Textiles, Agriculture), By Plastic type (Polystyrene, PVC, polypropylene, others) - Global Forecasts, 2024-2032

Plastic Additives Market Size

Plastic Additives Market size surpassed USD 57.48 billion in 2023 and is poised to observe nearly 4.5% CAGR from 2024 to 2032. High adoption of plastic additives in the automotive sector will drive market development.
 

Increasing use of plastic across various sectors due to its exceptional properties will influence market growth. Plastic is replacing traditional materials like metal, glass, and paper in these industries at a faster rate owing to its extraordinary attributes including strength, dependability, flexibility, and resistance to heat and pressure. Several sectors including automotive, construction, textile, electrical & electronic, agricultural, and packaging, use plastic additives for multiple purposes.
 

New rules and restrictions on the consumption of petroleum-based polymers will have positive impact on the plastic additives market. The U.S. Environmental Protection Agency (EPA) states that the packaging materials like plastics, coatings, papers, etc. need to be deemed safe for food packaging usage. Numerous scientific studies have discovered limitations on various plastic additives, including specific kinds of plasticizers and flame retardants. Due to various laws, it is predicted that the market will gradually phase out these flame retardants.
 

Plastic Additives Market Analysis

Plastic additives market from the plasticizers segment is estimated to register 5% CAGR from 2023 to 2032. Eco-friendly plasticizers are anticipated to be the future of plasticizer businesses as companies are focusing from an environmental perspective. Environmentally friendly plasticizers provide a range of characteristics, including good thermal stability, weather resistance, and waterproofing with good electrical resistivity. PVC, the third largest polymer by volume after PP and PE, is where plasticizers are most frequently utilized. Without changing the underlying chemical makeup of the plasticized material, plasticizers reduce the viscosity of the polymer melt, the elastic modulus, the glass transition temperature (Tg), and the melting temperature (Tm) of the end product which increases the flow and thermoelectricity.
 

Plastic additives market revenue from the automotive end-use segment is expected to surpass USD 25 billion by 2032. Plastic can replace automated parts made of materials like metals and aluminum. By using the right proportions of additives, colorants, agents, and fillers, plastic's properties have been improved. It is often utilized in the automotive sector for a variety of applications, including exterior, interior, under-the-hood, and electronic and electrical components owing to its various advantages like lightweight and flexibility. The requirement for plastic parts in the automotive sector will continuously increase due to the growing demand for electric vehicles and lightweight components in the sector.
 

Plastic additives market value from the polypropylene segment is forecasted to cross USD 27 billion by 2032. Polypropylene is a stiff and crystalline thermoplastic that is widely used to make battery cases, household cleaners, bleach, consumer items, and medical equipment. In the packaging sector, the compound is used to create containers and lids for food and beverages, promoting market expansion. It is also applicable for chemicals, as well as industrial and domestic products. Consequently, the market expansion will be aided by the rising demand for polypropylene goods.
 

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Asia Pacific plastic additives market is projected to record over 4% CAGR from 2023 to 2032 propelled by expanding population across China, India, and Southeast Asia. The manufacturing and construction sectors of the region are expanding drastically favored by government support. For instance, in India, the Parliament has passed a bill for the creation of a USD 2.5 billion development finance institution for funding infrastructure projects in India. This could increase the demand for plastic additives with certain properties across the region.
 

Plastic Additives Market Share

• Clariant Ltd.
• Kaneka Corp.
• Songwon Industrial Co., Ltd
• DOW Plastic Additives
• LANXESS AG
• BASF
• Evonik Industries AG
• EXXON MOBIL CORP.
• Albemarle Corporation
• Nouryon

are some of the leading manufacturers in the global market. Companies are focusing on utilizing new strategies like mergers, and product launches for developing their position in the market.
 

This plastic additives market research report includes in-depth coverage of the industry with estimates & forecasts in terms of volume in kilo tons and revenue in USD million from 2018 to 2032 for the following segments:

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By Type

• Antioxidants
• Plasticizers
• Stabilizers
• Flame retardants
• Antistatic agents
• Clarifiers and nucleating agents
• Anti-scratch additives
• Rheology/Thickners
• others (waxes, lubricants, etc)

By Plastic type

• Polystyrene.
• PVC
• polypropylene
• polyethylene
• engineering plastics
• others (polyimide, polyethylene sulfide, etc.)

By End use

• Automotive
• Construction
• Textiles
• Electric & electronics
• Agriculture
• Packaging
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico 
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Netherlands
  • Italy
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Indonesia
  • Thailand
• Latin America
  • Brazil
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa