The global polymer additives market was worth more than USD xx billion in revenue in 2018 and is expected to cross USD xx billion in 2023, growing at a healthy CAGR of over xx% during the forecast period.
Polymer additives are specialty chemicals used to modify the properties of polymer giving it strength, durability and heat sensitivity. Polymer additives are segmented based on type and application of ingredients. Some of the common polymer additives include aniline derivatives, Bisphenol-A Diglycidyl Ether and others.
Based on type, polymer additives can be
- Heat Stabilizers
- Ultraviolet Stabilizers
- Flame Retardants
Based on application polymer additives market can be automotive, caps and closures, film production, foamed polymers, injection molding, wood plastic composites, liquid colour, rubber, polyolefins, PVC, styrenics, polyamides, biopolymers, printing inks, thermal paper and others.
As polymer additives are the major ingredients used in polymers industry, demand from this industry is expected to increase the growth of polymer additives market. Demand from polymers industry is actually increasing because of growing population and extra income in developing countries. The increase in demand from automotive, packaging, construction and other markets is increasing the growth of polymers market which in turn, increases the demand for polymer additives.
Drivers and Restraints of Polymer Additives Market
Growing investments in polymers industry in regions like Asia and the Americas are likely to offer tremendous possibilities for polymer additives market in the future. As a result of accessibility to raw material, multinational businesses are investing in resource-rich regions to be able to limit the overall production cost.
Polymer additives have a probability of volatility in supply and prices. Feedstock chemicals affect the cost of production of polymer additives. Health concerns on the usage of certain polymer additives are a growing trend in the market. Existing and future health regulations concerning the use of certain polymer additives are likely to challenge the market growth.
Polymer Additives Market by Region
Asia was the largest consumer of polymer additives and this pattern is anticipated to continue to be identical over the following few years. Consumption in Asia is showing upward trend because of increase in population growth and economic activity. Growing demand for polymer products will drive polymer additives market in Asia. With major production capacities in China, the region is likely to grow in terms of global supply capability. Demand from North America was relatively stable and is likely to stay same in the next few years. Consumption of polymer additives in the Europe is likely to grow at a significant rate.
Top players in this market include BASF, Chemtura Corporation, Exxon Mobil Corporation, Bayer AG, Clariant Ltd., Kaneka Corporation, Lanxess AG, Zeon Chemicals, Axel Plastics Research Laboratories, Inc., and DOW Plastic Additives among others.
The report covers exhaustive analysis on:
- Global Market Size
- Global Market Segments
- Market Regional Analysis
- Global Market Competitive Landscape
- Production Technology
- Global Market Value Chain
- In depth summary of parent market
- Altering market characteristics in the industry
- Detailed market segmentation
- Historical and forecast market size in terms of volume and value
- Current industry developments
- Competitive landscape
- Potential and niche segments, regions showing promising growth