Plastic Additives Market will Reach $57.8 Billion, Globally, by 2020 – Allied Market Research
PORTLAND, Oregon, April 8, 2014 /PRNewswire/ –
Allied Market Research today published the most comprehensive and strategically
analyzed report titled “Plastic Additives Market (Functions, Types, Applications and
Geography) – Size, Share, Global Trends, Analysis, Opportunities, Growth, Intelligence and
Forecast, 2012-2020″. The global plastic additives market in terms of volume was estimated
at 12.6 million tons in 2013 and is expected to reach 17.1 million tons by 2020 growing at
a CAGR of 4.4% during 2013-2020.
Decreasing mineral ore sources have increased the cost of metal equipment, which has
triggered the application of plastics to replace the metal equipment. The low cost of
plastic equipment and properties that match metal equipment is also pushing the higher
adoption of plastics in a number of applications. Thus the demand for additive which
enhances the properties of plastics is also on rise. The companies involved in
manufacturing of additives are majorly concentrating on specialty chemicals that are used
in construction and automobile equipment.
The global plastic additives market growth is dampened by strict government
regulations as some plastics additives such as Chlorinated flame retardant are banned in
countries, namely Canada, U.S. and the European Union. The pending legal suits are also
hindering the growth of plastic additive market. Companies are facing problems with
lawsuits such as patent imitation suit, commercial application of banned product etc.
The plastic additives manufactures have high focus on developing economies due to
economical advantages. Asia-Pacific is the largest revenue generating region among other
geographies due to the availability of low cost raw material and economical work force.
However, the availability of economical work force in under developed economies such as in
Africa is also attracting the global players. The Asia-Pacific and Rest of the world
region shared 42.1% revenue in 2013 which is expected to soar to 60% by 2020. The increase
in consumption of plastic products and raising awareness for the preservation of depleting
resources is facilitating the growth of plastic additive market in these regions.
Plastic additive market by type is segmented into Plasticizers, Flame Retardants,
Impact Modifiers, Antioxidants, Anti-microbial and UV Stabilizers. The plastic additive
market by types is ruled by plasticizers in terms of volume as well as values. The
plasticizers market was valued of $21.4 billion in 2013 and expected to lead in terms of
revenue generation throughout the analysis period. The multiple applications of
plasticizers in manufacturing plastic products are promoting the market as compared to
others segments. The flame retardants plastic additives market has highest growth
potential which is forecast to grow at a CAGR of 5.4% during 2013-2020. Furthermore,
antimicrobial market which is expected to grow at a moderate growth is promoted due to
increase in demand for disposable products in healthcare industry.
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Plastic additives market is expected to grow in developing economies such as India,
China, and Japan. The developing economies are more lucrative for the global players
operating in this market due to availability of low cost labors and raw materials.
The companies involved in the manufacturing of chemicals are trying to capture the
natural resources to create monopolistic environment in supply chain of plastic additive
and other chemicals market. Recently, Neftegaz America Shelf (a subsidiary of Roseneft)
acquired 30% shares of deepwater exploration of ExxonMobil (Gulf of Maxico). This
agreement had initiated the production and refining of petroleum products in that block.
Key companies included in the company profiles are BASF, Chemtura Corporation, Exxon Mobil
Corporation, Bayer Ag, Clariant Ltd. and Kaneka Corporation.
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