TAGS: Additives for Packaging Flame Retardants Polymer Reinforcement
The global additives market size is projected to grow at a CAGR of 4.6% to reach USD 222.6 billion by 3030 from USD 155.4 billion in 2021. Stabilizers, epoxidized soybean oil (ESO), and phosphorus-based flame-retardant additives are examples of specialty additives used in end-use industries like agriculture, healthcare, and pharmaceuticals, and packaging films.
Segmentation of Additives Market
The overall additives market has been segmented into the product type, end-use, and region.
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By product type (Plastic additives, food additives, construction additives, lubricant additives, fuel additives, coating additives, agrochemical additives, medicated feed additives, and others)
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By end-use (Packaging, food & beverage, chemical, automotive, aerospace, building & construction, animal husbandry, and others)
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By region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)
Based on end-use, the global additives market is segmented into packaging, food & beverage, chemical, automotive, aerospace, building & construction, animal husbandry, and others. Based on the regions, the global additives market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, North America accounted for the highest market share of 37.2% in the global additives market and was anticipated to maintain its dominance throughout the forecast period.
The use of additives in pigments, thickeners, defoamers, and others for manufacturing submarines & ships may increase the demand for additives in the Asia-Pacific region. Moreover, additives are used to enhance the properties of plastics and resins, such as durability, strength, flexibility,
lightweight, and others. China being the world's largest manufacturer of plastics & resins, may increase the demand for additives in the region.
Leading companies in the additives market include
Dow,
Evonik,
BASF,
Clariant,
Eastman Chemical Company,
Milliken,
Sanitized AG,
Avient,
Lanxess, and
BioCote. These market players have focused on acquisitions and expansion to gain a larger market share in the additives market.
Explore Additives Portfolio for Packaging Application
Source: Market Statsville Group