Jersey City, NJ, March 31, 2023 (GLOBE NEWSWIRE) -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global High-Performance Plastic Additives Market Size, Share & Trends Analysis Report By End-User (Transportation, Medical, Electrical And Electronics, Packaging), Plastic Type (Fluoropolymers, High-Performance Polyamides, Sulfone Polymers, Liquid Crystal Polymers, Polyimides), And Additive Type (Plasticizers, Flame Retardants, Lubricants, Anti-Oxidants, Stabilizers)- Market Outlook And Industry Analysis 2031"
The global high-performance plastic additives market is estimated to reach over USD 2541.36 million by 2031, exhibiting a CAGR of 9.17% during the forecast period.
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High-Performance plastic additives provide increased chemical, water, and scratch resistance, lower coefficient of friction, enhanced gloss, improved water repellency, suppression of shark skin, and reduced surface roughness, to name a few advantages. Plastic additives are also used to increase polymer flow, making them easier to process. Internal lubricants allow materials to flow more freely by reducing heat dissipation and viscosity. The growing use of lightweight elements in automotive components to improve vehicle efficiency is likely to enhance the regional market.
Growing R&D for non-toxic plastic product development is expected to drive the global market. The development of additives that can dramatically lower the deterioration time of this product will be a game changer. One of the important factors supporting the growth of the plastic additives market is the rising usage of pro-oxidant additives by the industrial sector to promote thermo-oxidation and photo-oxidation, which increases the number of extractable chemicals correspondingly.
Recent Developments:
- In October 2022, Evonik Industries AG showcased its most recent viable plans for the polymers and foam industries at K 2022 in Dusseldorf, Germany. INFINAM PA, a new and enhanced grade of PA-12 powders with much lower CO2 emissions for fused deposition 3D printing methods, was also showcased.
List of Prominent Players in the High-Performance Plastic Additives Market:
- Solvay S.A.
- Evonik Industries AG.
- Colloids Ltd.
- SABIC
- Ensinger
- L.Brueggemann GmbH & Co. KG
- Americhem, Inc.
- Colortech Inc.
- Tosaf Compounds Ltd.
- Arkema
- BASF SE
- 3M
- SUQIAN UNITECH CORP., LTD.
- Nouryon
- Avient Corporation
- Kemipex
- Advanced Polymer Solutions, LLC
- NEWOS GmbH
- Ceramer GmbH
- Karan Industrial Group
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High-Performance Plastic Additives Market Report Scope:
| Report Attribute | Specifications |
| Market size value in 2022 | USD 1172.28 Mn |
| Revenue forecast in 2031 | USD 2541.36 Mn |
| Growth rate CAGR | CAGR of 9.17 % from 2023 to 2031 |
| Quantitative units | Representation of revenue in US$ Million, Volume (KT), and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report coverage | The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
| Segments covered | End-User, Plastic Type, And Additive Type |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
Market Dynamics:
Drivers:
Throughout the past two decades, the packaging industry has seen remarkable growth. The growing popularity of convenience foods is driving up the need for food-grade plastic used in packaging. Furthermore, the expanding e-commerce sector around the world is one of the primary drivers driving the packaging sector, which is promoting the market growth. It is used in the production of automotive parts due to its lightweight nature and inexpensive cost.
Lightweight automobile components minimize fuel consumption, increasing vehicle efficiency. Regulatory agencies' various regulations for the grades of automobile plastics have greatly boosted the market for flame retardant additives. This factor is expected to augment the growth of the global High-Performance Plastic Additives Market.
Challenges:
Phthalates are one of the most regularly used plasticizers, increasing the transparency, flexibility, and durability of materials. They are mostly used to soften PVC and as additives due to their cheaper cost. Yet, phthalates may have a number of negative health and environmental consequences. For example, they are not biodegradable and are released into the environment during polymer manufacture. They are also possible endocrine disruptors with the potential to cause male infertility. Furthermore, because of their high volatility, large amounts of phthalates in the air might deposit the material in the body. Such negative impacts have the ability to stymie market growth.
Regional Trends:
The Asia Pacific high-performance plastic additives market is expected to record a substantial market share in terms of revenue and is projected to develop at an elevated CAGR in the near future due to the region's growing population and fast urbanization, as well as increased investment in residential and commercial buildings. Because of increased packaging applications in emerging markets and rising research and development efforts in the market, North America is predicted to be the fastest-growing region in terms of high-performance additives market growth. Increased R&D for non-toxic plastic product development is predicted to improve the local market.
The European Union's (E.U.) strict limits on the use of phthalates in food and medical applications are expected to provide an opportunity for the development of new and improved polymer additives.
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Segmentation of High-Performance Plastic Additives Market-
By End-User-
- Transportation
- Medical
- Electrical and Electronics
- Packaging
- Others
By Plastic Type-
- Fluoropolymers
- High-performance Polyamides
- Sulfone Polymers
- Liquid Crystal Polymers
- Polyimides
- Others
By Additive-Type-
- Plasticizers
- Flame Retardants
- Lubricants
- Anti-Oxidants
- Stabilizers
- Others
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
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