Plastic Additives Market Size, Share & Trends Report

Plastic Additives Market Size, Share & Trends Analysis Report By Function (Stabilizers, Processing Aids), By Product (Plasticizers, Flame Retardants), By Region, And Segment Forecasts, 2015 - 2022

  • Published Date: Mar, 2016
  • Base Year for Estimate: 2014
  • Report ID: 978-1-68038-565-6
  • Format: Electronic (PDF)
  • Historical Data: 2012 - 2013
  • Number of Pages: 70

Industry Insights

The global plastic additives market size was valued at USD 43.5 billion in 2014. Plastic additives are increasingly utilized for varied functions including property modifiers, extenders, stabilizers, and processing aids in industrial applications. Additives such as antimicrobials, antioxidants, UV stabilizers, plasticizers, and impact modifiers are largely used in compound formulations to improve chemical and physical properties.

Rising industrial output and increased economic activity in emerging economies of Asia and South America are expected to drive the global industry over the forecast period. Regulatory bodies such as the European Commission (EU) amended acts such as the Restriction of Hazardous Substances (RoHS) to regulate and control plasticizers, flame retardants, and other additives owing to adverse effects on human health and environment.

North America plastic additives market

The U.S. FDA has formulated the Code of Federal Regulations (CFR), Title 21, Part 177 to regulate the types of indirect additives used in food contact substances. These requirements are a set of guidelines established to regulate maximum permissible additive quantities used in food processing and packaging applications. The global industry is characterized by volatile raw material prices, coupled with stringent environmental regulations for manufacturing plasticizers, UV stabilizers, and other additives.

Political turmoil in Middle East regarding petrochemicals is further expected to affect supply and pricing dynamics over the forecast period. Other products such as PC and PMMA are gaining importance, especially as substitutes for glass. Growing emphasis on conductive additives such as carbon nanotubes and nanofibers has also been the major factor for promoting them in electrical and electronic applications.

High demand from the automotive and packaging industries is expected to drive the market demand in North America. Furthermore, stringent food, environmental, and medical regulations by regulatory bodies including the EPA and FDA are expected to contribute to high market demand in the coming years.

Emerging economies of Asia and South America such as China, India, and Brazil are witnessing high industrial output due to increased economic activity, which, in turn, is giving rise to manufacturing sector growth. Major corporations that are dominant in North America and Europe are gradually shifting their plastics production capabilities to cater to high potential markets in Asia Pacific and South America. This factor is expected to drive additive consumption in the respective regions.

Plastic additives are expected to undergo changes in terms of their development. Shift towards development of bio-based plastics is a key trend in the market. Green chemistry is a hotbed of a subject in the industry. Many companies such as Emery Oleochemicals have successfully commercialized bio-based plastic additives.

Function Insights

On the basis of function, the global industry has been segmented into property extenders, property modifiers, property stabilizers, and processing aids. Property stabilizers were the leading segment in 2014, accounting for 36.6% share of the overall volume in 2014. Property stabilizers are largely used to increase stability in terms of chemical bonding and thermal and physical properties. The segment is expected to reach USD 4.3 billion by 2022.

Processing aids are expected to register the highest growth in terms of volume over the forecast period owing to their increasing application in the enhancement of plastic extrusion ability. Manufacturers prefer these aids to improve quality and output of PE films, tubes, pipes, and other finished products. This factor is expected to increase the demand for processing aids over the forecast period.

Product Insights

On the basis of product, the global industry has been segmented into plasticizers, flame retardants, impact modifiers, antimicrobials, UV stabilizers, antioxidants, and others. Plasticizers were the leading product segment in 2014, accounting for 51.7% share of the global volume. Plasticizers are largely used in PVC to improve plasticity and fluidity of the material. 

Global plastic additives market

Plasticizers are facing regulatory scrutiny due to presence of phthalates, which are considered to be carcinogenic in nature. Plasticizers are banned in various substances such as toys and child care articles owing to their carcinogenic nature by various agencies such as the European Union and the U.S. EPA. This product segment is expected to witness moderate growth owing to declining market share.

The flame retardants segment is expected to witness significant growth in the coming years owing to increasing regulations regarding workplace safety. These products are increasingly utilized in the manufacturing industries to prevent fire accidents and arson incidents, owing to their thermal efficacy and heat resistance.

Regional Insights

Asia Pacific was the largest regional market in 2014 with a revenue of USD 15.7 billion. Rising industrial output, economic growth, and increasing population in China, India, and Southeast Asia have driven the manufacturing and construction industries in the region. This has led to high demand for plastics with application specific property. Consumer preference for flame retardancy, high impact strength, corrosion resistance, and UV resistance in plastics is expected to drive the APAC market over the forecast period.

The industry in North America and Europe is expected to expand at a volume-based CAGR of 4.1% and 3.9% respectively over the forecast period. Developed nations such as U.S., U.K., Germany, and France are also expected to generate high demand for plasticizers, UV stabilizers, flame retardants, and other additives.

Plastic Additives Market Share Insights

The global market share was dominated by integrated companies providing feedstock as well as final products and supplying them to end users such as automotive, OEMs, construction, electronics, and footwear. The market is marked by the presence of numerous producers who command a majority of the overall share. Key players with a global presence include BASF SE, SABIC, DuPont, ExxonMobil Chemical, Mitsui Chemical, The Dow Chemical Company, and Biesterfield Plastic GmbH.

Technology innovation, product development, and production optimization are crucial for industry participants to maintain a competitive edge. Moreover, the industry is characterized by the presence of integrated players that are involved in raw material and feedstock procurement, along with plastic additives.

Report Scope

Attribute

Details

Base year for estimation

2014

Actual estimates/Historical data

2012 - 2013

Forecast period

2015 - 2022

Market representation

Volume in Kilotons, Revenue in USD Million, and CAGR from 2015 to 2022

Regional scope

North America, Europe, Asia Pacific, and Rest of the World

Report coverage

Revenue forecast, competitive landscape, growth factors and trends

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