High Performance Plastic Additives Market to be Dominated by packaging sector applicability through 2028
Growing demand from packaging Industry is
expected to drive the High-Performance Plastic Additives market in the forecast
period 2024-2028.
According to TechSci Research
report, “High-Performance Plastic
Additives Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028”, The global High-Performance Plastic Additives market
is anticipated to upsurge at an impressive rate in the forecast period 2024-2028.
A significant factor fueling the growth of the High-Performance
Plastic Additives market is the increase in its use in packaging and automotive
industries due to its advanced characteristics and adequate properties. The use
of plastic additives is expected to expand in the next years due to increased
demand for food and beverage packing material, flame retardant chemical, and
antioxidants which will further fuel the expansion of the High-Performance
Plastic Additives market. For instance, the resin and functional material businesses,
as well as the production of additives, advanced solar coating, and the Niaga
innovation project, were all bought by Covestro in September 2020 from Koninklijke
DSM N.V. The
need for the expansion of the High-Performance Plastic Additives market will be
fueled by the electronics industry due to increase demand of E-commerce.
Furthermore, the market is
being further stimulated by the extensive use of High-Performance Plastic
Additives in transportation, and medical. However, fluctuations in
the raw material cost that can slow down the market growth. Also, strict
government rules regarding plastic production can further slowdown market
growth.
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data Figures spread through XX Pages and an in-depth TOC on the "Global
High Performance Plastic Additives Market"
Global High-Performance
Plastic Additives Market is segmented based on plastic type, additive type, end
user, and region.
Based on plastic type,
the market is categorized into Fluoropolymers, High-performance Polyamides,
Sulfone Polymers, and others. High-performance Polyamides are expected to hold
the largest market share in the forecast period, 2024-2028. High-performance
Polyamides are utilized in various applications due to their high thermal conductivity, high stiffness, flame
resistance, low moisture assimilation, high specific strength, superior impact
resilience, and chemical stability.
Based on additive types, the market is fragmented into
Plasticizers, Flame
Retardants, Lubricants, Antioxidants, and others. Plasticizers is expected to grow at the
highest rate during the forecast period. This can be attributed due to non-volatility,
processability, and compatibility with the host material.
Based on end user, the
market is segmented into transportation, medical, electrical & electronics packaging,
and others. The packaging segment will experience the highest market share during
the forecast period. This can be attributed to the demand increase demand from
the packed food industry.
Major companies operating
in the global High-Performance Plastic Additives market are:
- BASF
SE
- Saudi
Basic Industries Corp
- Arkema
S.A.
- Solvay
S.A.
- Evonik
Industries AG
- 3M
Co.
- L.Brueggemann
GmbH & Co. KG
- Ensinger
GmbH
- Colloids
Ltd.
- Colortech
Inc.
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“During
the projected period, the Asia Pacific region is anticipated to increase at the
fastest rate. Automotive, medical, and packaging industries are predicted to
have a long-term need for high-performance plastic additives. Investments in
new manufacturing facilities will likely boost production capacity, which would
likely speed up market expansion. Additionally, in North America, E-commerce
demand increasing result in safe and secure packaging is the key factor
contributing to the market’s long-term growth,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“High-Performance Plastic Additives Market- Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By
Plastic Type (Fluoropolymers, High-performance Polyamides, Sulfone Polymers,
Others) By Additive Type (Plasticizers, Flame Retardants, Lubricants,
Antioxidants, Others) By End User (Transportation, Medical, Electrical &
Electronics Packaging, Others), By Region and Competition,
has evaluated the future growth potential of global High-Performance Plastic
Additives market and provides statistics & information on market size,
structure, and future market growth. The report intends to provide innovative
market intelligence and help decision-makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the global High-Performance
Plastic Additives market.”
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