EINPresswire/ -- According to the report, the global plastic additives market was valued at $48.6 billion in 2020 and is projected to reach $79.1 billion by 2030, registering a CAGR of 5.1% from 2021 to 2030.

Market Dynamics:-

Drivers:

The growth of the global plastic additives market is primarily fueled by the increasing adoption of plastic additives in the construction industry, where they enhance durability, flexibility, and resistance to environmental factors. Rapid urbanization and infrastructure development, particularly in emerging economies, further boost market demand.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

Restraints:

However, certain disadvantages associated with lubricant additives such as volatility and environmental concerns may hinder market growth to some extent.

Opportunities:

Rising government initiatives across the Asia-Pacific (APAC) region to promote sustainable waste management and environmentally friendly lubricant alternatives are expected to create lucrative opportunities for market expansion.

Segment Insights

By Type:

The plasticizers segment accounted for nearly one-third of the global market in 2020, owing to their extensive use in PVC plastics to enhance flexibility, durability, and ductility. Meanwhile, the antioxidants segment is projected to record the fastest CAGR of 5.7% through 2030.

By Plastic Type:

The high-performance plastics segment held around three-fifths of the total market in 2020, driven by rising demand for advanced medical devices and healthcare investments in emerging economies such as China and India. On the other hand, the commodity plastics segment is expected to witness the highest CAGR of 6.0%, fueled by growing use in packaging, consumer goods, and pharmaceutical applications.

Regional Analysis:

Asia-Pacific, followed by Europe and North America, dominated the market in 2020, capturing nearly three-fifths of the global share. The region is also expected to exhibit the fastest CAGR of 5.7% during the forecast period, driven by the rising demand for plastic products in rapidly developing economies such as India and China.

Key Market Players:

- BASF SE
- Clariant Ltd.
- Songwon Industrial Co. Ltd.
- Evonik Industries AG
- ExxonMobil Corporation
- Kaneka Corporation
- Albemarle Corporation
- Lanxess Corporation
- Nouryon
- Dow Chemical Company

𝐖𝐚𝐧𝐭 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐚𝐥 𝐃𝐚𝐭𝐚 𝐚𝐧𝐝 𝐆𝐫𝐚𝐩𝐡𝐬, 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬' 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬: /purchase-options

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