global plastic additives market, plastic additives industry share, plastic additives market forecast, plastic additives market growth, plastic additives market trends, plastic additives market outlook
What are the latest figures on the plastic additives market’s size and projected CAGR?
The plastic additives market size has grown strongly in recent years. It will grow from $59.44 billion in 2024 to $64.27 billion in 2025 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to increased demand for lightweight materials, the expansion of the packaging industry, rapid urbanization and infrastructure projects, increased consumer expectations for product quality and longevity, and the need for efficient agricultural practices and materials.
The plastic additives market size is expected to see strong growth in the next few years. It will grow to $86.67 billion in 2029 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to economic growth in emerging markets, increased use of medical plastics with additives, rising use of advanced plastic materials in agriculture, increasing consumer demand for long-lasting and high-quality consumer goods, high demand for flexible and durable packaging solutions. Major trends in the forecast period include the development of biodegradable additives, the use of nanomaterials to improve the mechanical, thermal, and barrier properties of plastics, smart additives, innovations aimed at making plastic additives more compatible with recycling processes, and enhanced UV stabilizers.
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Which major factors have contributed to the expansion of the plastic additives market?
Rising consumer demand for electronics is expected to propel the growth of the plastic additives market going forward. Electronics are components or systems that control the flow of electrons or other electrically charged particles to perform various functions. The demand for electronics is rising due to the increasing reliance on digital technology for communication, work, entertainment, and automation in everyday life. Plastic additives in electronics enhance the performance, durability, and functionality of components such as circuit boards and casings, ensuring optimal operation and protection against environmental factors. For instance, in May 2023, according to the Japan Electronics and Information Technology Industries Association, a Japan-based trade association, the total consumer electronics production reached $291.81 million (¥32,099 million) in May 2023, compared to $229.71 million (¥25,268 million) in May 2022. Therefore, rising consumer demand for electronics is driving the growth of the plastic additives market.
How is the plastic additives market segmented?
The plastic additives market covered in this report is segmented –
1) By Type: Plasticizers, Flame Retardants, Impact Modifiers, Lubricants, Antioxidants, Antimicrobials, Ultra-Violet (UV) Stabilizers, Other Types
2) By Plastic Type: Polystyrene, Polyvinyl Chloride (PVC), Polypropylene, Polyethylene, Engineering Plastics, Other Plastic Types
3) By Application: Packaging, Automotive, Agriculture, Building And Construction, Consumer Goods, Electrical And Electronics, Other Applications
Subsegments:
1) By Plasticizers: Phthalate-Based Plasticizers, Non-Phthalate Plasticizers, Bio-Based Plasticizers
2) By Flame Retardants: Halogenated Flame Retardants, Non-Halogenated Flame Retardants, Intumescent Flame Retardants, Non-Toxic Flame Retardants
3) By Impact Modifiers: Rubber-Based Impact Modifiers, Acrylic-Based Impact Modifiers, Thermoplastic Elastomer-Based Impact Modifiers
4) By Lubricants: Internal Lubricants, External Lubricants, Fatty Acid-Based Lubricants, Ester-Based Lubricants
5) By Antioxidants: Primary Antioxidants, Secondary Antioxidants, Phenolic Antioxidants, Phosphite-Based Antioxidants
6) By Antimicrobials: Organic Antimicrobials, Inorganic Antimicrobials, Silver-Based Antimicrobials, Copper-Based Antimicrobials
7) By Ultra-Violet (UV) Stabilizers: UV Absorbers, UV Screeners, Hindered Amine Light Stabilizers (HALS)
8) By Other Types: Heat Stabilizers, Processing Aids, Colorants And Pigments, Anti-Static Agents, Blowing Agents
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Who are the top competitors in the plastic additives market?
Major companies operating in the plastic additives market are ExxonMobil Corporation, BASF SE, Dow Inc, Saudi Basic Industries Corporation (SABIC), LyondellBasell Industries NV, Evonik Industries AG, Solvay S.A., Mitsui Chemicals Inc., Arkema S.A., AkzoNobel N.V., Eastman Chemical Company, Albemarle Corporation, Lanxess AG, Lubrizol Corporation, Clariant AG, Avient Corporation, Adeka Corporation, Kaneka Corporation, Chemtura Corporation, Ferro Corporation, Ampacet Corporation, Songwon Industrial Co. Ltd., Baerlocher GmbH, Valtris Specialty Chemicals, PMC Group
Which key trends are expected to influence the plastic additives market in the coming years?
Major companies operating in the plastic additives market are developing new products, such as biomass balance approach plastic additives, to gain a competitive edge in the market. The biomass balance approach creates plastic additives with a reduced carbon footprint by incorporating renewable resources. For instance, in September 2023, BASF SE, a Germany-based chemical company, launched a range of biomass-balanced plastic additives, including Irganox 1010 BMBcert and Irganox 1076 FD BMBcert, which are certified by TÜV Nord for mass balance according to the international sustainability and carbon certification (ISCC PLUS). These innovative solutions promote the use of renewable resources to replace fossil feedstocks, enabling BASF’s customers to reduce their carbon footprint by up to 60% compared to conventional products.
Which regional trends are influencing the plastic additives market, and which area dominates the industry?
Asia-Pacific was the largest region in the plastic additives market in 2024. The regions covered in the plastic additives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Plastic Additives Market Report 2025 Offer?
The plastic additives market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Plastic additives are chemical compounds incorporated into polymer materials to enhance their properties, processing, or performance. These additives can improve characteristics such as flexibility, durability, color, thermal stability, and resistance to UV radiation. By modifying the properties of the base polymer, plastic additives help tailor materials for a wide range of applications and environmental conditions.
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