Plastic Additives Market Size is Anticipated to Witness Healthy Growth by Forecast to 2023 | Healthier Lifestyle has Motivated Plastic Additives Industry Expansion at High Rate, Confirms MRFR
31 July 2019
Pune, India, July 30, 2019 (GLOBE NEWSWIRE) -- Market Insight:
Plastic Additives are increasing in prominence due to awareness among people for a healthy life. Market reports associated with Plastic Additives have been presented by Market Research Future, which states that the market would rise and anticipated to amass high revenues by the year 2023.
Plastic Additives make plastic cheaper, improves its rheology, and enhance the flame-retardant property. The essential types of Plastic Additives are plasticizers, stabilizers, fillers, flame retardants, antioxidants, antimicrobials, and impact modifiers. The usage of Plastic Additives is more in all the major end-user industries in recurrent years and is improving its importance in everyday life of people.
BASF SE (Germany), SONGWON (South Korea), Clariant AG (Switzerland), Evonik Industries AG (Germany), PMC Group, Inc. (the U.S), Albemarle Corporation (US) AkzoNobel NV (the Netherland), Solvay SA (Belgium), L. N. Chemical Industries (India), and Styro Chemical Industries (India) are some of the prominent players contributing extendedly in the Global Plastic Additives Market.
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July 08, 2019: Masterbatches Business Unit of Clariant (Muttenz, Switzerland) has worked in helping the food brand owners and packaging owners in creating environmentally friendly plastic additives. Clariant’s portfolio of additive, together with in-house expertise and collaboration with other industry organizations, allows the company to offer solutions in essential areas like designing packaging for recycling; enabling re-use of plastic packaging; use of bio-based polymers, and swelling acceptance of compostable packaging.
Market Drivers & Trends:
The Global Plastic Additives Market displayed significant evolution following the developments taking place in significant regions. The growing consumer awareness towards the contamination of food and adhesive impacts of loose sold food products are key factors promoting the market’s development. The demand from the packaging industry is expected to provide an excellent growth of the Global Plastic Additives Market as consumers have shifted the trend towards a healthy lifestyle, which has enabled them to consume healthy food.
Apart from this, the growth of the market is also witnessed with surging use of eco-friendly packaging materials. Several industries from across the world strongly prefer to use eco-friendly packaging, where the use of Plastic Additives is massive than before. Moreover, factors such as rapid urbanization of emerging countries are also likely to build the demand for Plastic Additives during the forecast period, which could directly anticipate an exponential growth of the plastic additives market.
Robust growth of Global Plastic Additives Market is also witnessed in the automotive industry as well due to swelling demand for passenger cars from the middle-class population. The high demand for Plastic Additives from various sectors have motivated the key players to invest more in the field of research, and resultantly, the rise of green chemistry and reusability of the plastic material are the current market trend to surpass the valuation of the market during the assessment period.
Browse the market data and information spread across 138 pages with 33 data tables and 12 figures of the report “Plastic Additives Market Report - Forecast 2018-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/plastic-additives-market-1753
Market Research Future’s study suggests that the Global Plastic Additives Market has been segmented into various categories, which is listed to be according to the Type and End-Use Industry.
By Type: plasticizers, flame retardants, impact modifiers, antioxidants, antimicrobials, UV-stabilizers, and Others are the segments.
By End-User Industry: packaging, automotive, agriculture, building & construction, consumer goods, electrical & electronics, and others are the segments.
Regionally, the Global Plastic Additives Market has covered the major regions of Asia Pacific, North America, Europe, and the Middle East & Africa and Latin America.
Asia Pacific region has been observed to lead at the highest CAGR during the forecast period owing to the mounting population and increasing demand for the product from the packaging industry. The success attained in Plastic Additives Market has boosted investors and manufacturers from countries like India, China, and Japan to contribute majorly owing to the significant presence of leading end-use industries such as packaging, consumer goods, and building & construction.
North America has observed a substantial growth, which is counted to be the second largest in the Global Plastic Additives Market due to surging growth of plastic additives, both in household and industrial applications. In this region, the U.S is the major contributor to the growth of the market owing to the significant presence of major key players and record of high technological achievements in the polymer sector and green chemistry.
Europe region is also one of the essential regions in this market, which has occupied a substantial share of the market owing to increased research and development activities in plastic materials. In this region, the U.K, Germany, Belgium, and the Netherlands have recorded to become the major economies, whereas the Middle East & Africa, and Latin America is holding a less share of the market.
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