The Global Plastic Additive Market is Expected to Reach an Estimated $30 Billion by 2030
The Global Plastic Additive Market is Expected to Reach an Estimated $30 Billion by 2030
Blog Article
According to a market report by Lucintel, the future of the global plastic additive market looks promising with opportunities in the packaging, construction, consumer goods, and automotive markets. The global plastic additive market is expected to reach an estimated $30 billion by 2030 from $23 billion in 2023 at a CAGR of 3.6% from 2023 to 2030. The major drivers for this market are growing demand for replacement of conventional materials by plastics in the packaging, construction, and consumer goods markets, adoption of automation in the injection molding process, and increasing use of lightweight materials and growing innovations in packaging.
In this market, plasticizers, stabilizers, flame retardants, and impact modifiers are the major segments of plastic additive market by product type.
Lucintel forecasts that plasticizers will remain the largest segment over the forecast period due to its capacity to enhance the properties of plastics for a variety of applications, such as packaging, consumer goods, and chemical industries.
Within this market, packaging will remain the largest segment due to increasing use in consumer goods and industrial purposes and rapidly expanding e-commerce sector globally.
APAC will remain the largest region over the forecast period due to increasing disposable income and rapid urbanization in the emerging countries coupled with growing demand for plastic additive in packaging, retail and polymer industries.
Songwon Industrial, Albemarle, Clariant AG, BASF SE, and Dow Chemical are the major suppliers in the plastic additive market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com. To get access of more than 1000 reports at fraction of cast visit Lucintel’s Analytics Dashboard.
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1 972.636.5056