Plastic Additives Market Analysis by Size, Share, Demand & Growth by 2032

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 Plastic additives are compounds added to plastic during manufacturing to alter its properties. Examples include plasticizers for flexibility, antioxidants for longevity, and flame retardants for safety. While enhancing performance, additives raise concerns about environmental impact and health risks. Balancing innovation with sustainability is crucial in the plastic industry's evolution.

A significant production volume of plastic all over the globe is driving sales of plastic additives to improve the quality and functionality of different materials. The global plastic additives market is anticipated to reach a value of US$ 66.6 Billion by 2032, expanding at a 4.6% CAGR over the forecast period.

With increasing investment by prominent players across emerging countries, the rising inflow of foreign direct investment in the automotive and packaging sectors will bode well for the growth in the market over the forecast period.

Expansion in the building and construction sector, rising electric vehicle production, and ongoing development in the packaging sector will augment the growth in the market. Surging demand for polyethylene, polypropylene, polyvinyl chloride, and other types of plastic for packaging applications will push sales of additives.

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“Growing demand for packaging materials for various applications, along with increasing production of specialty chemicals across the globe will drive sales in the market in the forthcoming years,” says an FMI analyst.

Key Takeaways:

  • By product type, the plasticizer segment is expected to account for about 6% of the overall market share.
  • Based on plastic type, the polyethylene and polypropylene segment is expected to account for more than 48% of the overall consumption.
  • In terms of end use, sales in the packaging segment will increase at a 4.9% CAGR over the assessment period.
  • India will emerge as a lucrative pocket in South Asia plastic additives market, accounting for 2/5th of the total market share.
  • Sales in the China plastic additives market are expected to gain traction at a 5.3% CAGR over the assessment period.

Competitive Landscape

Some of the top plastic additives manufacturers include

  1. BASF SE
  2. Clariant AG
  3. Albemarle Corporation
  4. Songwon Industrial Co., Ltd
  5. Nouryon
  6. LANXESS AG
  7. Evonik Industries AG
  8. Kaneka Corporation
  9. Dow
  10. SABIC
  11. Exxonmobil
  12. Mitsui Chemicals
  13. Badische Anilin- und SodaFabrik SE

Key players are focusing on expanding their production capacity to increase their global presence and to improve sales. Further, players are also investing in product innovation. For instance:

  • In September 2020, Covestro acquired Koninklije DSM N.V.’s resin and functional material business, as well as additives manufacturing, advanced solar coating, and the Niaga innovation project.

About the Chemicals and Materials Division at Future Market Insights (FMI)

The chemicals and materials division of Future Market Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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