Wilmington, Delaware , May 02, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "PVC Additives Market by Type (Stabilizers, Impact Modifiers, Processing Aids, Lubricants, Plasticizers, and Others) and Application (Pipes and Fittings, Profiles and Tubing, Wire and Cable, Rigid Sheet and Panel, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the "PVC additives market" was valued at $6.1 billion in 2023, and is estimated to reach $10.7 billion by 2033, growing at a CAGR of 5.8% from 2024 to 2033.
Prime determinants of PVC additives market growth
The global PVC additives market is experiencing growth due to several factors such as surge in construction activities, rapid infrastructure development and replacement of conventional material with PVC. However, regulatory compliance and environmental concerns hinder the market growth. Moreover, growing emphasis on recyclability and circular economy presents opportunities for PVC additives. PVC additives contribute to the development of innovative recycling technologies and processes that enable the efficient recovery and reuse of PVC materials. Advanced additives improve the efficiency of mechanical recycling methods, such as shredding and extrusion, by minimizing degradation and enhancing material compatibility, thereby increasing the yield and quality of recycled PVC products. For instance, compatibilizers and impact modifiers are key additives that improve the compatibility between different plastics such as PVC during recycling. All these factors are anticipated to offer new growth opportunities for the PVC additives market during the forecast period.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $6.1 billion |
| Market Size in 2033 | $10.7 billion |
| CAGR | 5.8% |
| No. of Pages in Report | 340 |
| Segments Covered | Type, Application, and Region. |
| Regional Scope | North America, Europe, Asia Pacific, and LAMEA |
| Country Scope | U.S., Canada; Mexico; Germany; UK; France; Italy; Spain; China; Japan; India; South Korea; Australia; Brazil; Saudi Arabia; and South Africa |
| Drivers | Rise in construction activities Replacement of conventional material with PVC |
| Opportunity | Growing emphasis on recyclability and circular economy |
| Restraint | Regulatory compliance and environmental concerns |
Others segment maintains its dominance by 2033
By type, the others segment held the highest market share in 2023, accounting for more than two-fifths of the global PVC additives market revenue and is estimated to maintain its leadership status during the forecast period. The others segment includes fillers, Flame retardants, and pigments. Fillers are substances added to PVC formulations to improve properties such as strength, stiffness, and thermal conductivity. With increase in demand for lightweight and durable materials in construction and manufacturing sectors, fillers play a crucial role in achieving the desired balance of properties in PVC products. In addition, the aesthetic appeal of PVC products is a significant factor driving the demand for pigments, as they allow manufacturers to create visually appealing finishes that meet consumer preferences and design trends.
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Rigid sheet and panel segment is expected to lead the trail by 2033
By application, the rigid sheet and panel segment held the highest market share in 2023, accounting for more than one-fourth of the global PVC additives market revenue and is estimated to dominate during the forecast period. The versatility and durability of PVC make it a preferable material for manufacturing rigid sheets and panels used in diverse industries such as construction, automotive, and packaging. These rigid PVC products offer excellent resistance to weathering, impact, and chemicals that makes them ideal for outdoor and indoor applications requiring structural integrity and longevity. Moreover, regulatory requirements and consumer preferences for sustainable and environmentally friendly materials are driving innovation in PVC additives.
Asia-Pacific is expected to grow faster throughout the forecast period
Region-wise, Asia-Pacific is the fastest growing region in terms of revenue in 2023 representing 6.1% of the CAGR. The surge in population and rise in standards of living are fueling the construction of new residential and commercial buildings driving the need for PVC additives. These additives play a crucial role in improving the performance and longevity of PVC products, ensuring they meet stringent quality and safety standards amidst diverse environmental conditions prevalent in the Asia-Pacific region such as high temperatures, humidity, and exposure to UV radiation.
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Leading Market Players: -
- Addivant
- Arkema
- BASF SE
- CLARIANT
- Dow
- Eastman Chemical Company
- Evonik
- Solvay
- SONGWON
- The Lubrizol Corporation
The report provides a detailed analysis of these key players in the global PVC additives market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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