Country-Niche Players Dominate the Market Holding ~65% of Market Presence Despite the Presence of about ~500 Competitors Comprising a Significant Number of Large Global Players Players and Regional Players, finds a recent market study on the Global Plastics Additives Market
Chemicals used to process, alter, or polymerize polymers’ final qualities are known as plastic additives. To increase the strength, heat sensitivity, and durability of these items, these are added to polymers. In many industrial applications, plastic additives are utilized in a variety of kinds, such as stabilizers, processing aids, modifiers, flame retardants, and plasticizers.
Ken Research shares 3 key insights on this high-opportunity market from its latest research study.
Country Niche Players Dominate the Market Holding a 65% Share in Terms of the Number of Competitors; Followed by Regional Players with a 30% Share
A comprehensive competitive analysis conducted during the Research Study found that the global plastics additives market is highly competitive with ~500 players including globally diversified players, and regional players, as well as a large number of country-niche players having their niche in plastic additives advancement for multiple industries.
Plastic additives are used in a wide range of industrial applications as stabilizers, processing aids, modifiers, flame retardants, and plasticizers, among others. The strict restrictions being implemented by the European Commission to govern and regulate the use of chemicals and materials like plastics due to their adverse effects on the environment and human health is one of the main factors contributing to the high adoption of plastic additives.
Additives change a substance’s properties to give it a new feature in plastics. These help advance the government’s goals by enhancing the cleanliness or safety of plastics.
According to the research findings, the country’s niche players held the dominant position in the market in 2021, in terms of the number of companies with about ~65% followed by regional players which account for ~30% of the market presence.
Global Players Having Diverse Presence across Different End-use Industries Promote market growth.
With numerous global corporations and small producers operating their companies through a variety of products and a vast distribution network, the market is considerably competitive by nature. From product manufacturing to final product distribution to multiple places, the enterprises in the sector have a high degree of integration.
Key players have a significant presence in various end-user industries like packaging, food, consumer goods, construction, automotive, and various others. Not just key players but also emerging players are expanding in different industries with plastic additives products and are also investing in strategies like collaborations and technological development to compete in the industry.
Post-Covid, Trend of Launching Products with Wider Sustainability is Being Adopted
Due to lockdown measures implemented in numerous nations to limit the spread of the virus, the COVID-19 breakout at the beginning of 2020 saw a significant increase in the use of e-commerce rather than the more conventional brick-and-mortar transactions. The e-commerce industry is still growing and is anticipated to continue doing so in the years to come.
The pandemic has also recently led to a rise in single-use plastic bags and boxes due to hygiene concerns, favorably influencing the use of plastic packaging in e-commerce and, in turn, favorably impacting the market for plastic additives.
Apart from that, covid-19 has also augmented the demand for plastics for the production of safety kits. The public has been using personal protective equipment (PPE) more frequently. Plastics are used to make disposable PPE, such as gloves, filter facepiece respirators, gowns, and eye protection.
According to the National Library of Medicine, an estimated 1.6 million tons of plastic garbage were produced every day worldwide as a result of the COVID-19 pandemic. It is, therefore, boosting the demand for plastic additives for sustainability concerns rising across the globe.
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Increased Adoption of Plastics Additives in Various Parts of the World leading to Major Industry-Wide Developments, Acquisitions, and Deal-Wins
- In May 2022, by incorporating a new manufacturing line into the current production facilities, BASF increased the antioxidant Irganox® 1010’s production capacity at its Jurong Island, Singapore, facility to meet the rising demand and support the expansion plans of their clients. With the investment in Singapore, BASF is one of the top providers of phenolic antioxidants.
- In June 2022, BASF and Institute cyclos-HTP co-published an insight into the mechanical recycling of co-extruded flexible packaging films including polyamides (PE/PA multilayer films).
With tie layer materials, co-extruded PE/PA multilayer films with PA6 and PA6/6.6 concentrations of up to 30% were employed. Cyclos-HTP examined the recycling compatibility and recyclability of these films in the PE film stream from industrial sorting operations for domestic flexible plastic packaging trash based on the approved CHI standard.
- The Ministry of Environment, Forest and Climate Change, Government of India, has notified the Plastic Waste Management Amendment Rules, 2021, which prohibits specific single-use plastic items with low utility and high littering potential by 2022. This is to the clear directive given by the Prime Minister to phase out single-use plastic by 2022, keeping in mind the negative impacts of littered plastic on both terrestrial and aquatic ecosystems.
With effect from 30 September 2021, plastic carry bags’ thickness has been increased from 50 microns to 75 microns, and then to 120 microns with effect from 31 December 2022, to reduce littering caused by lightweight plastic carrier bags. As a result of the increase in thickness, this will also permit the reuse of plastic carry.
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Key Topics Covered in the Report
- Snapshot of Global Plastic Additives Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of Global Plastic Additives Market
- Historic Growth of the Overall Global Plastic Additives Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Plastic Additives Market
- Overview, Product Offerings, and SWOT Analysis of Key Competitors
- Covid-1919 Impact on the Overall Global Plastic Additives Market
- Future Market Forecast and Growth Rates of the Total Global Plastic Additives Market and by Segments
- Market Size of Plastic Type / Application Segments with Historical CAGR and Future Forecasts
- Analysis of Plastic Additives Market in Major Regions
- Major Production / Consumption Hubs in the Major Regions
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Country
Major Companies Profiled in the Report
- BASF SE
- The DOW Chemical Company
- AkzoNobel
- Clariant AG
- Nabaltec
- Mitsui Chemicals
- LANXESS AG
- Repi S.r.l.
- Songwon Industrial Co. Ltd.
- Albemarle Corporation
- Kaneka Corporation
Notable Emerging Companies Mentioned in the Report
- Baerlocher China
- Nanjing Union Rubber Chemicals Co. Ltd. (NURCHEM)
- Van Horn, Metz & Co., Inc.
- K-Tech (India) Limited
- Flamingo Additives & Colourants LLP
- Deifel GmbH & Co. KG
- Newos GmbH
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Plastic Additive Manufacturers
- Packaging Manufacturers
- Plastic Manufacturers
- Chemical Companies
- Government Ministries and Departments of Chemical Industry
- Sustainability Researchers
- Food Processing Companies
- Vehicle Manufacturers
- Construction Dealers
- Commodity Plastic Manufacturers
- Engineering Plastic Manufacturers
- High-Performance Plastic Manufacturers
- Petrochemical Companies
Time Period Captured in the Report
Historical Period: 2019-2021
Forecast Period: 2022E-2030F
For More Information on the Research Report, refer to below links: –
Global Plastic Additives Market: Ken Research
Contact Us: –
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249