Lucintel’s latest market report analyzed that plastic additive provides attractive opportunities in the construction, packaging, consumer goods, and automotive industries. The plastic additive market is expected to reach $48.5 billion by 2025 with a CAGR of 2%. In this market, plasticizer is the largest segment by product type, whereas construction is largest by end use industry. The development of bio based plasticizers and growing consumption of nanopowder or nanoparticle aluminum hydroxides provides strategic growth path in this market.
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Based on product type, the plastic additive market is segmented into plasticizers, flame retardants, pigments, stabilizers, impact modifiers, antioxidants, blowing agents, and others. The plasticizers segment is accounted for the largest share of the market in 2020 supported by growth in demand for flexible polyvinyl chloride (PVC) plastic in film & sheet, wire & cable, and flooring applications and flame retardant additive is expected to register the highest CAGR during the forecast period due to more stringent fire safety standards and growth in the markets of construction and electrical & electronics.
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The plastic additive market is marked by the presence of several big and small players. Some of the prominent players offering plastic additive include Clariant, BASF SE, ExxonMobil, Akzo Nobel, and The DowDuPont, Evonik Industries, Lanxess, and Nabaltec and others.
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