Global Plastic Additives Market Report and Forecast 2024-2032

Global Plastic Additives Market Outlook

The global plastic additives market size reached approximately USD 54.71 billion in 2023. The market is assessed to grow at a CAGR of 5.3% between 2024 and 2032 to attain a value of around USD 87.08 billion by 2032.

Key Trends in the Market

Additives refer to chemicals that are combined with raw and basic plastic materials to modify the properties of plastics and improve their colour and performance requirements. They also provide protective characteristics and enhance features like flame retardancy and strength of plastics.

• The plastic additives market growth is being aided by the rising usage of plastics as an alternative to metals. Moreover, improvements in additive processing, advancements in plastic additives, and the surging focus on enhancing the properties of plastics are expected to aid the market growth in the forecast period.

• Growing environmental concerns are expected to positively influence the plastic additives market demand in the forecast period. Hence, key players are developing additives made from sustainably sourced and bio-based feedback that can reduce fossil fuel demand and lower greenhouse emissions. Furthermore, with the rising trend of sustainability, there is increasing use of organic additives like colours with excellent application performance, wide variety, and high tinting strength.

• Some plastic additives market trends include growing R&D activities to create innovative non-toxic polymer additives with enhanced safety and functionality for use in different sectors like agriculture, consumer goods, and electronics, among others.

Market Analysis

Based on type, the market is segmented into plasticisers, flame retardants, impact modifiers, lubricants, antioxidants, antimicrobials, and UV stabilisers, among others. On the basis of plastic type, the plastic additives market segmentation includes commodity plastic, engineering plastic, and high-performance plastics.

By function, the market is segmented into property stabilisers, property extenders, and processing aids. Based on application, the market divisions include packaging, automotive, agriculture, building and construction, consumer goods, and electrical and electronics, among others. The major regional markets for plastic additives include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global plastic additives market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Dow Chemical Company

• BASF SE 

• Exxon Mobil Corporation 

• Nouryon Chemicals Holding B.V. 

• Lanxess AG

• Clariant Ltd.

• Adeka Corporation

• SONGWON Industrial Group

• Others

Market Share by Type

Plasticisers represent a significant plastic additives market share as they are used to make plastics more flexible, softer, and efficient. The increasing focus on enhancing the flexibility and elasticity of plastics is also surging the demand for plasticisers. Meanwhile, with the growing demand for plastics with improved toughness and durability, the usage of impact modifiers in plastics is anticipated to surge in the forecast period.

Market Share by Region

As per the plastic additives market analysis, the utilisation of plastics in different end-use sectors, including flooring, medical devices, and electric vehicles, in North America is significantly increasing. Meanwhile, the Asia Pacific is anticipated to witness a healthy growth in the forecast period due to surging production of speciality chemicals, the robust growth of the construction and building sectors, and rising investments in the packaging and automotive sectors.

Competitive Landscape

Nouryon Chemicals Holding B.V. is a speciality chemical company that manufactures products for the paints and coatings, personal care, pharmaceuticals, food and agriculture, and building sectors. With operations in 80 countries, the company is committed to sustainability, safety, and innovations. It is headquartered in Amsterdam, the Netherlands, and its brands play an essential role in the everyday lives of people.

Lanxess AG is a speciality chemical company that was established in 2004. With 13,100 employees in 32 countries, the company is engaged in the manufacturing, developing, and marketing of chemical additives and intermediates as well as consumer protection chemicals. Its business units are aimed at driving product innovation and supporting environmental goals.

Dow Chemical Company, founded in 1897, has established itself as a customer-centric, innovative, and sustainable material science company. Its wide product portfolio includes coatings, plastics, silicones, and businesses for use in the mobility, packaging, infrastructure, and consumer goods sectors. With operations in 31 countries, the company is headquartered in Michigan, the United States.

Other plastic additives market players include Adeka Corporation, BASF SE, Exxon Mobil Corporation, Clariant Ltd., and SONGWON Industrial Group, among others.

Key Highlights of the Report