Home > Chemicals & Materials > Advanced Materials > Plastic Additives Market
Plastic Additives Market Analysis
- Report ID: GMI5471
- Published Date: Mar 2023
- Report Format: PDF
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.
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.
Frequently Asked Questions (FAQ) :
Plastic Additives Market Scope
