The Global High-Performance Plastic Additives Market Size is valued at 1172.28 million in 2022 and is predicted to reach 2541.36 million by the year 2031 at a 9.17% CAGR during the forecast period for 2023-2031.
Performance additives are compounds added to modern-day automobile gasoline and other propelling fuels to stabilize and raise its octane level, reduce the likelihood of pre-ignition, and allow for more power to be created through higher compression and advanced ignition timing. High-performance adhesives are widely utilized in the automation, construction, medical, transportation, aerospace and defense industries. High-performance adhesives are light in weight, which is why they are commonly used in the automobile industry to manufacture lightweight vehicles.
However, COVID-19 has significantly impacted the global market. Numerous government limitations have hampered the production and supply of commodities, raw materials, and finished goods. Because of the epidemic, most chemical manufacturers in China have been compelled to temporarily close their doors. China is the primary market for these additives and their raw materials, and their impact on the worldwide market is expected to be significant. The supply of raw materials was hampered during the shutdown, affecting the production of various additives and derivatives. Moreover, labor shortages are impacting the market throughout the outbreak.
Recent Developments:
- In October 2022, Evonik Industries AG showcased its most recent viable plans for the polymers and foam industries at K 2022 in Dusseldorf, Germany. INFINAM PA, a new and enhanced grade of PA-12 powders with much lower CO2 emissions for fused deposition 3D printing methods, was also showcased.
Competitive Landscape:
Some of the High-Performance Plastic Additives Market players are:
- Solvay S.A.
- Evonik Industries AG.
- Colloids Ltd.
- SABIC
- Ensinger
- Brueggemann GmbH & Co. KG
- Americhem, Inc.
- Colortech Inc.
- Tosaf Compounds Ltd.
- Arkema
- BASF SE
- 3M
- SUQIAN UNITECH CORP., LTD.
- Nouryon
- Avient Corporation
- Kemipex
- Advanced Polymer Solutions, LLC
- NEWOS GmbH
- Ceramer GmbH
- Karan Industrial Group
Market Segmentation:
The high-performance plastic additives market is segmented on the basis of end-user, plastic type, and additive type. Based on end-user, the market is segmented as transportation, medical, electrical and electronics, packaging, and others. By plastic type, the market is segregated into fluoropolymers, high-performance polyamides, sulfone polymers, liquid crystal polymers, polyimides, and others. The additive type segment includes plasticizers, flame retardants, lubricants, anti-oxidants, stabilizers, and others.
Based On Product, The Plasticizers Segment Is Accounted As A Major Contributor In The High-Performance Plastic Additives Market
The plasticizers category is expected to hold a major share of the global high-performance plastic additives market in 2021. Polymer plasticity is changed to meet the needs of various application areas. They make it easier to handle raw materials during the manufacturing process and also change the frictional coefficient according to the application. The most widely utilized products are poly-carboxylic acid esters with aliphatic or branched alcohols with moderate-length chains. Ester plasticizers are chosen based on a cost-performance analysis, toxicity, non-volatility, processability, and compatibility with the host material. Yet, over 90% of all plasticizers are employed in the manufacture of flexible PVC. The category is predicted to grow due to the rising demand for flexible PVC polymer.
The Packaging Segment Witnessed Growth At A Rapid Rate
The packaging segment is projected to grow at a rapid rate in the global high-performance plastic additives market. Various types of items necessitate different types of packing materials. Transparent, food-grade, medical-grade, opaque, porous, moisture-resistant, heat-resistant, and other plastic materials are available on the market. Plastic is one of the most cost-effective alternatives to metals and alloys in packaging. Furthermore, convenience food is in high demand due to the hectic lifestyles of city dwellers. The market is predicted to be pushed by rising demand for plastic packaging from the food and beverage, medical, pharmaceutical, and other industries.
The Asia Pacific High-Performance Plastic Additives Market Holds A Significant Revenue Share In The Region
The Asia Pacific high-performance plastic additives market is expected to witness the highest market share in terms of revenue in the near future. The rapid rise of the e-commerce sector is boosting the growth of the regional packaging industry, resulting in the development of the regional market. Furthermore, increased disposable incomes encourage customers to spend more on home décor, ornamental products, and furniture, which has benefited the Indian and Chinese furniture markets.
The rising global demand for Chinese goods is likely to fuel the local plastics industry. Additionally, North America holds a large share of the worldwide market due to the rising use of plastics and polymers in the packaging, construction, aerospace & defense, food & beverages, general manufacturing, and car industries. Advancing investments in the aerospace and defense sectors for the development of improved materials are projected to provide an opportunity for the market in this area.
High-Performance Plastic Additives Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2022 |
USD 1172.28 Mn |
|
Revenue forecast in 2031 |
USD 2541.36 Mn |
|
Growth rate CAGR |
CAGR of 9.17 % from 2023 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million, Volume (KT), and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
End-User, Plastic Type, And Additive Type |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
Solvay S.A., Evonik Industries AG., Colloids Ltd., SABIC, Ensinger, L.Brueggemann GmbH & Co. KG, Americhem, Inc., Colortech Inc., Tosaf Compounds Ltd., Arkema, BASF SE, 3M, SUQIAN UNITECH CORP., LTD., Nouryon, Avient Corporation, Kemipex, Advanced Polymer Solutions, LLC, NEWOS GmbH, Ceramer GmbH, and Karan Industrial Group. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Corporate
Office :
Office No.5170, 5th Floor Marvel Fuego, Magarpatta Rd, Pune, 411028
info@insightaceanalytic.com
