Research Nester Analytics LLC assesses the growth of the global plastic additives market which is anticipated to be on account of increasing investment in recyclable plastic technology to move towards a circular economy amid stringent plastic decomposition and waste management regulations.
New York – June 23, 2023 - Research Nester Analytics LLC recent market research analysis on “Plastic Additives Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a detailed overview of the global plastic additives market in terms of segmentation by type, plastic type, application, and by region.
Increasing Demand for Bio-Based Plastic Additives Supports Market Growth
Conventional polymers can be converted into biopolymer counterparts using bio-based starting materials. The bio-based polymer can be chemically equivalent to its petrochemical counterpart. This implies that the polymer's characteristics and performance are unaffected by an increase in the proportion of renewable carbon that incorporates. As fossil fuels evolve into scarcer and customer demand for environmentally favorable alternatives rises, biopolymers as well as bioplastics are increasingly considered replacements for polymers derived from petrochemicals alone. Bioplastics account for approximately one percent of the roughly 360 million tons of plastic generated annually. This may seem insignificant, but both demands, as well as manufacturing capacity, are expanding rapidly. The global bioplastics manufacturing capacity was more than 2 million tons in 2019 and is projected to reach about 2.4 million tons by 2024. Bio-based polymers and polyamides are being increasingly utilized in demanding applications, including transportation, electronics, and athletic product components. To ensure that these polymers meet efficiency specifications, their mechanical characteristics must be modified.
Some of the major growth factors that are associated with the growth of the global plastic additives market are:
Growth Drivers:
• Replacement of conventional material with recycled plastic
• Rising demand for plasticizers in automotive industries to improve the flexibility, and durability of polymer materials, including PVC and polyurethane
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By application, the global plastic additives market is segmented into packaging, automotive, agriculture, building & construction, consumer goods, and electronics. The building & construction segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period owing to the properties such as enhanced impact strength, reduced brittleness, higher elongation, better coupling, and increased plasticity. Moreover, the segment is expected to hold a market revenue of USD 19.14 billion in the near future. In the building and construction sector, these additives have been widely accepted for use in applications including building materials, flooring, hoses, floor tiles, and carpets. Plastic additives are used in the construction sector to preserve aesthetic qualities, thermal protection, long-term resilience, and the integrity of polymer characteristics throughout processing. Additionally, plastic additives increase the lifespan of building applications that use UV-sensitive materials. The expanding building and construction sector will considerably fuel the expansion of the plastic additives market.

By region, the North America plastic additives market is to generate a revenue of USD 9.54 billion by the end of 2035. The market growth in the region is expected owing to the growing demand for plastic across various industries, including construction, automotive, and others. On the other hand, plastic additives technology advancements and growing environmental concerns have fueled the development of eco-friendly additives, contributing to regional market growth.
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This report also provides the existing competitive scenario of some of the key players of the global plastic additives market which includes company profiling of Arkema, The Dow Chemical Company, Struktol Company of America, LLC, LANXESS, SONGWON, Kaneka Corporation, Solvay, Clariant AG, BASF SE, Daikin Industries, Ltd., LG Chem, Evonik Industries AG, among others.
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