Plastic Additives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Plastic Additives Market is segmented by type (lubricants, processing aids, flow improvers, slip additives, antistatic additives, pigment wetting agents, filler dispersants, antifog additives, plasticizers, and other types), plastic-type (polyethylene, polystyrene, polypropylene, polyamides, polyethylene terephthalate, polyvinyl chloride, polycarbonate, and other plastic types), application (packaging, consumer goods, construction, automotive, and other applications), and geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). For each segment, market sizing and forecasts are based on volume (kilo ton) and revenue (USD million).

Home right-chevron-icon Industry Reports right-chevron-icon Chemicals & Materials right-chevron-icon Plastics, Polymers, and Elastomers right-chevron-icon Plastic Additives Market

Plastic Additives Market Size

Plastic Additive Market Summary
Study Period: 2017-2027
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: > 3.5 %

Major Players

Plastic Additives Market Major Players

*Disclaimer: Major Players sorted in no particular order
setting-icon

Need a report that reflects how COVID-19 has impacted this market and it's growth?

Plastic Additives Market Analysis

The plastic additives market is estimated to reach over USD 6,200 million by the end of this year and is projected to register a CAGR of around 3.5% during the forecasted period.

Due to the COVID-19 outbreak, nationwide lockdowns around the globe disrupted manufacturing activities and supply chains, and production halts impacted the market in 2020. However, the conditions started recovering in 2021, restoring the market's growth trajectory during the forecast period. An increase in house sales, new project launches, and increasing demand for automotive and packaging have been leading the market recovery over the last two years.

  • The replacement of conventional materials with plastics in several applications and increasing demand for plastics due to rapid urbanization and rising purchasing power among consumers are expected to drive the market's growth.
  • On the flip side, stringent governmental regulations on plastic usage are restraining the plastics industry's growth globally, which is directly affecting the plastic additives demand on the global front.
  • Nevertheless, the rising research activities to develop bio-based plastics and innovative product applications will likely create lucrative growth opportunities for the global market soon.
  • Asia-Pacific emerged as the largest market and is expected to witness the highest CAGR during the forecast period. This dominance of Asia-Pacific is attributed to the high demand in countries such as China, Japan, and India.

Plastic Additives Industry Segmentation

Plastic additives are materials added during the manufacturing process that provide the optimal performance of the material when molded and put into use. Plastic additives can also be used to modify the characteristics of the polymer to achieve a particular performance from the plastic for a specific purpose. Plastic additives are used to polymerize, process, or change the end-use properties of plastics. The plastic additives market is segmented by type, plastic type, application, and geography. The market is segmented by type: lubricants, processing aids, flow improvers, slip additives, antistatic additives, pigment-wetting agents, filler dispersants, antifog additives, plasticizers, and other types. By plastic type, the market is segmented into polyethene, polystyrene, polypropylene, polyamides, polyethene terephthalate, polyvinyl chloride, polycarbonate, and other plastic types. By application, the market is segmented into packaging, consumer goods, construction, automotive, and other applications. The report also covers the market size and forecasts in 18 countries across major regions. For each segment, market sizing and forecasts are based on volume (kilo ton) and revenue (USD million).

Type
Lubricants
Processing Aids (Fluoro-polymer Based)
Flow Improvers
Slip Additives
Antistatic Additives
Pigment Wetting Agents
Filler Dispersants
Antifog Additives
Plasticizers
Other Types
Plastic Type
Polyethylene (PE)
Polystyrene (PS)
Polypropylene (PP)
Polyamides (PA)
Polyethylene Terephthalate (PET)
Polyvinyl Chloride (PVC)
Polycarbonate (PC)
Other Plastic Types
Application
Packaging
Consumer Goods
Construction
Automotive
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Russia
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
United Arab Emirates
South Africa
Rest of Middle-East and Africa

Report scope can be customized per your requirements. Click here.

Plastic Additives Market Trends

This section covers the major market trends shaping the Plastic Additives Market according to our research experts:

Packaging to Dominate the Market

  • The packaging industry is the most extensive application for the plastic additives market globally. Factors leading to the increased application of polymers in the packaging industry are specific polymer properties, including lightweight, availability in different colours, low reactivity, chemical and moisture resistance, etc. A wide range of plastic additives is used in many types of packaging, from food and beverage to personal care and healthcare sectors.
  • Significant forms of plastics used in the packaging industry are polyethene terephthalate (PET/PETE), high-density polyethene (HDPE), polyvinyl chloride (PVC), low-density polyethene (LDPE), polypropylene, polystyrene, etc.
  • Polymer additives play an essential role in food and beverage packaging. A wide range of additives is available for enhancing the performance and appearance of food packaging, where polymer additives are crucial areas of innovation for packaging materials. Some major plastic additives used in food packaging are oxygen scavengers, antimicrobials, antioxidants/stabilizers, colorants, lubricants, and blowing agents.
  • The global seafood market reached a value of USD 253 billion in 2021, and it is projected to reach USD 336 billion by 2025. As a result, the demand for plastic additives used for seafood packaging is anticipated to grow throughout the forecast period.
  • Germany's food and beverage industry are characterized by its small and medium-sized enterprise sector of over 6,000 companies.​ The revenue in the food and beverage market was estimated at USD 3,222 million in 2021. The market is expected to grow annually by 6.83% during the forecast period, driving the packaging industry and the consumption of plastic additives in the country.
  • The export of packaging materials from India grew to USD 1,119 million in 2021-22 from USD 844 million in 2018-19. The United States remains the major export destination for the packaging industry, followed by the United Kingdom, the United Arab Emirates, the Netherlands, and Germany.
  • Due to the factors above, the market for plastic additives in the packaging segment is likely to grow substantially during the forecast period.
Plastic Additives Market - Packaging Material Exports, is USD million, India 2018 - 2021

The Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region dominated the global market share. China is one of the lucrative markets for plastic additives due to low-cost raw materials and labour availability. China is one of the largest producers of plastic materials in the world.
  • Packaging is the largest end-user for the plastics industry. With the rise in demand for lighter, cheaper, and more convenient packaging from consumers, the packaging sector in China is set to experience rapid growth during the forecast period, which, in turn, is expected to boost the plastic additives market.
  • Food packaging is a significant player in the packaging industry, accounting for a major market share in China. According to Interpak, in China, total packaging is expected to reach 447 billion units in the foodstuff packaging category in 2023.
  • Plastic additives usage is also growing in the construction industry as more engineering plastic is used in construction applications. The preference shifted from conventional to polymer-based materials. Using plastics in building and construction products saves energy compared to alternative construction materials.
  • The Government of India is pushing notable projects in the next few years. The government’s ‘Housing for All’ initiative aimed to build more than 20 million affordable homes for the urban poor by 2022. In the 2021-22 budget, the smart cities mission is given INR 6,450 crore (~USD 778.78 million) as against INR 3,400 crore (~USD 410.52 million) in the 2020-21 revised estimates.
  • The use of plastic additives is rising in the automotive industry in conjunction with the growing usage of engineering plastic in automotive parts. Various plastics have replaced conventional metals and wood, used for many under-the-hood parts of automobiles. These parts consume plastic additives in their production.
  • According to the Society of Indian Automobile Association, the auto industry produced 22,933,230 vehicles, including passenger vehicles, commercial vehicles, three-wheelers, two-wheelers, and quadricycles from April 2021 to March 2022, as against 22,655,609 units from April 2020 to March 2021.
  • As per reports by the Japan Automobile Manufacturers Association (JAMA), the country produced 7,846,955 units of passenger cars and light vehicles in 2021. However, the industry witnessed a 3% decline compared to the production numbers in 2020.
  • All the factors above are expected to drive the demand for plastic additives from various applications in the consumer goods, construction, and automotive industries over the forecast period.
Plastic Additives Market - Growth Rate by Region, 2022 - 2027

Plastic Additives Industry Overview

The plastic additives market is fragmented in nature. Some of the major players in the market (in no particular order) include BASF SE, Adeka Corporation, Lanxess, EVONIK INDUSTRIES AG, and Exxon Mobil Corporation, among others.

Plastic Additives Market Leaders

  1. BASF SE

  2. Adeka Corporation

  3. Lanxess

  4. EVONIK INDUSTRIES AG

  5. Exxon Mobil Corporation

*Disclaimer: Major Players sorted in no particular order

Plastic Additives Market Concentration

Plastic Additives Market News

  • September 2022: BASF showcased VALERAS for its plastic additives portfolio. VALERAS adds value to plastic applications by delivering sustainability benefits with additive technical solutions and services, such as accelerating the plastic journey to a circular economy and net zero emissions. Also, these include several antioxidants and light stabilizers.
  • March 2022: BASF announced an increase in the production capacity for its hindered amine light stabilizers (HALS) at sites in Italy and Germany. Hindered amine light stabilizers (HALS) find their application as stabilizers in plastics and polymers. BASF’s HALS Tinuvin, Chimassorb, and Uvinul are vital in protecting polymers from UV radiation and are effective inhibitors of free-radical-induced degradation.

Plastic Additives Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Report

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Replacement of Conventional Materials by Plastics in Several Applications

      2. 4.1.2 Increasing Demand for Plastics Due to Rapid Urbanization and Rising Purchasing Power Among Consumers

    2. 4.2 Restraints

      1. 4.2.1 Stringent Governmental Regulations on Plastic Usage

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 Type

      1. 5.1.1 Lubricants

      2. 5.1.2 Processing Aids (Fluoro-polymer Based)

      3. 5.1.3 Flow Improvers

      4. 5.1.4 Slip Additives

      5. 5.1.5 Antistatic Additives

      6. 5.1.6 Pigment Wetting Agents

      7. 5.1.7 Filler Dispersants

      8. 5.1.8 Antifog Additives

      9. 5.1.9 Plasticizers

      10. 5.1.10 Other Types

    2. 5.2 Plastic Type

      1. 5.2.1 Polyethylene (PE)

      2. 5.2.2 Polystyrene (PS)

      3. 5.2.3 Polypropylene (PP)

      4. 5.2.4 Polyamides (PA)

      5. 5.2.5 Polyethylene Terephthalate (PET)

      6. 5.2.6 Polyvinyl Chloride (PVC)

      7. 5.2.7 Polycarbonate (PC)

      8. 5.2.8 Other Plastic Types

    3. 5.3 Application

      1. 5.3.1 Packaging

      2. 5.3.2 Consumer Goods

      3. 5.3.3 Construction

      4. 5.3.4 Automotive

      5. 5.3.5 Other Applications

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 ASEAN Countries

        6. 5.4.1.6 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 France

        4. 5.4.3.4 Italy

        5. 5.4.3.5 Spain

        6. 5.4.3.6 Russia

        7. 5.4.3.7 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 United Arab Emirates

        3. 5.4.5.3 South Africa

        4. 5.4.5.4 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 ADEKA CORPORATION

      2. 6.4.2 Arkema

      3. 6.4.3 Baerlocher GmbH

      4. 6.4.4 BASF SE

      5. 6.4.5 Clariant

      6. 6.4.6 Croda International PLC

      7. 6.4.7 Dow

      8. 6.4.8 Emery Oleochemicals

      9. 6.4.9 Evonik Industries AG

      10. 6.4.10 Exxon Mobil Corporation

      11. 6.4.11 KANEKA CORPORATION

      12. 6.4.12 Kemipex

      13. 6.4.13 LANXESS

      14. 6.4.14 Mitsui & Co. Plastics Ltd

      15. 6.4.15 Nouryon

      16. 6.4.16 Peter Greven GmbH & Co. KG

      17. 6.4.17 SABO SpA

      18. 6.4.18 Solvay

      19. 6.4.19 SONGWON

      20. 6.4.20 Struktol Company of America LLC

      5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Rising Research Activities to Develop Bio-based Plastics

    2. 7.2 Innovative Product Applications

**Subject to Availability
You can also purchase parts of this report. Do you want to check out a section wise price list?

Plastic Additives Market Research FAQs

The Plastic Additives Market market is studied from 2017 - 2027.

The Plastic Additives Market is growing at a CAGR of >3.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2021.

BASF SE, Adeka Corporation, Lanxess, EVONIK INDUSTRIES AG, Exxon Mobil Corporation are the major companies operating in Plastic Additives Market.

Plastic Additives Industry Report

Statistics for the 2023 Plastic Additives market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Plastic Additives analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

close-icon
80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!