Growing demand from packaging Industry is expected to drive the High-Performance Plastic Additives market in the forecast period 2024-2028.
According to TechSci Research report, “High-Performance Plastic Additives Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, The global High-Performance Plastic Additives market is anticipated to upsurge at an impressive rate in the forecast period 2024-2028. A significant factor fueling the growth of the High-Performance Plastic Additives market is the increase in its use in packaging and automotive industries due to its advanced characteristics and adequate properties. The use of plastic additives is expected to expand in the next years due to increased demand for food and beverage packing material, flame retardant chemical, and antioxidants which will further fuel the expansion of the High-Performance Plastic Additives market. For instance, the resin and functional material businesses, as well as the production of additives, advanced solar coating, and the Niaga innovation project, were all bought by Covestro in September 2020 from Koninklijke DSM N.V. The need for the expansion of the High-Performance Plastic Additives market will be fueled by the electronics industry due to increase demand of E-commerce.
Furthermore, the market is being further stimulated by the extensive use of High-Performance Plastic Additives in transportation, and medical. However, fluctuations in the raw material cost that can slow down the market growth. Also, strict government rules regarding plastic production can further slowdown market growth.
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Global High-Performance Plastic Additives Market is segmented based on plastic type, additive type, end user, and region.
Based on plastic type, the market is categorized into Fluoropolymers, High-performance Polyamides, Sulfone Polymers, and others. High-performance Polyamides are expected to hold the largest market share in the forecast period, 2024-2028. High-performance Polyamides are utilized in various applications due to their high thermal conductivity, high stiffness, flame resistance, low moisture assimilation, high specific strength, superior impact resilience, and chemical stability.
Based on additive types, the market is fragmented into Plasticizers, Flame Retardants, Lubricants, Antioxidants, and others. Plasticizers is expected to grow at the highest rate during the forecast period. This can be attributed due to non-volatility, processability, and compatibility with the host material.
Based on end user, the market is segmented into transportation, medical, electrical & electronics packaging, and others. The packaging segment will experience the highest market share during the forecast period. This can be attributed to the demand increase demand from the packed food industry.
Major companies operating in the global High-Performance Plastic Additives market are:
- BASF SE
- Saudi Basic Industries Corp
- Arkema S.A.
- Solvay S.A.
- Evonik Industries AG
- 3M Co.
- L.Brueggemann GmbH & Co. KG
- Ensinger GmbH
- Colloids Ltd.
- Colortech Inc.
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“During the projected period, the Asia Pacific region is anticipated to increase at the fastest rate. Automotive, medical, and packaging industries are predicted to have a long-term need for high-performance plastic additives. Investments in new manufacturing facilities will likely boost production capacity, which would likely speed up market expansion. Additionally, in North America, E-commerce demand increasing result in safe and secure packaging is the key factor contributing to the market’s long-term growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“High-Performance Plastic Additives Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Plastic Type (Fluoropolymers, High-performance Polyamides, Sulfone Polymers, Others) By Additive Type (Plasticizers, Flame Retardants, Lubricants, Antioxidants, Others) By End User (Transportation, Medical, Electrical & Electronics Packaging, Others), By Region and Competition, has evaluated the future growth potential of global High-Performance Plastic Additives market and provides statistics & information on market size, structure, and future market growth. The report intends to provide innovative market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global High-Performance Plastic Additives market.”
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