Global Plastic Additives Market Is Expected To Reach Around USD 70.29 Billion By 2032

Zion Market Research has published a new report titled “Plastic Additives Market by Type (Plasticizers, Stabilizers, Flame Retardants, Impact Modifiers, and Others) and by Application (Packaging, Automotive, Consumer Goods, Construction, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024–2032”. According to the report, the global plastic additives market was USD 42.68 billion in 2023 and is expected to reach around USD 70.29 billion by 2032, at a CAGR of 5.70% between 2024 and 2032.

Plastic additives are used in a wide range of applications ranging from building, packaging containers to consumer and electronics equipment, company machines and automotive components. These additives improve the polymer’s strength, heat sensitivity, and durability. The flourishing packaging industry is one of the major driving factors of the plastic additives market globally. The rapidly developing global food industry has boosted the global packaging industry, thereby, propelling the demand for plastic additives. Furthermore, the consumption of plastic additives in the coming years is also supported by the shifting customer preferences to plastic products owing to their low price and increased durability. However, the environmental regulations for plastics may hamper the plastic additives market growth across the globe in the future. Alternatively, technological advancements related to plastic additives are anticipated to offer new opportunities for market growth in the years to come.

Browse the full “Plastic Additives Market by Type (Plasticizers, Stabilizers, Flame Retardants, Impact Modifiers, and Others) and by Application (Packaging, Automotive, Consumer Goods, Construction, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024–2032” Report at https://www.zionmarketresearch.com/report/plastic-additives-market

The global plastic additives market is divided based on type and application. Based on type, the market for plastic additives is classified into flame retardants, plasticizers, stabilizers, impact modifiers, and others. Plasticizers dominated the global plastic additives market in 2023 and are expected to maintain their dominance in the upcoming years as well. This can be attributed to the increased use of plasticizers in automotive, packaging, and consumer products industries. Moreover, the flame retardants segment is projected to grow at the fastest pace over the forecast time period. Based on application, the plasticizers market is fragmented into packaging, automotive, consumer goods, construction, and others. The increasing use of plastic additives, especially in packaging solutions for household and industrial reasons, is anticipated to majorly fuel the packaging segment in the global plastic additives market in the upcoming years. Additionally, altering fashion trends and globalization have further increased the packaging industry's plastic additives demand. Moreover, the consumer goods segment is likely to register the highest growth rate as compared to all the other segments over the next few years.

In 2018, Asia Pacific dominated the global plastic additives market. This can be attributed to the region’s flourishing packaging industry coupled with the substantial developments witnessed in the retail industry. Additionally, the increasing demand for plastic additives by the construction industry is estimated to further propel the Asia Pacific plastic additives market growth in the future.

Some key players of the global plastic additives market are SONGWON, Evonik Industries, Styro Chemical Industries, BASF, Albemarle Corporation, AkzoNobel, Solvay, L. N. Chemical Industries, Clariant AG, and PMC Group.

This report segments the global plastic additives market into:

Global Plastic Additives Market: Type Analysis

• Plasticizers
• Stabilizers
• Flame Retardants
• Impact Modifiers
• Others

Global Plastic Additives Market: Application Analysis

• Packaging
• Automotive
• Consumer Goods
• Construction
• Others

Global Plastic Additives Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa

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