Specialty Plastic Additives Market Scope
Specialty plastic additives are materials that are added to polymers to increase their strength, durability, and heat sensitivity. Plastic additives are added to enhance the process-ability, performance, or appearance of the polymer. Demand for plastics additives is strongly dependent on the production and consumption of plastics, in general, but is also influenced by demand from plastics end-use consumer segments and changes in government regulations. The global COVID-19 pandemic has affected manufacturing activities across the globe, which in turn affecting the demand for plastics and also production & processing of them. The most impacted end-use segments of the plastics industry include automotive & transportation, industrial equipment, construction, and electronics.
The Specialty Plastic Additives market study is segmented by Type (Plasticizers, Flame Retardants, Impact Modifiers, Antimicrobials, UV Stabilizers, Antioxidants and Ohers), by Application (Electronics, Construction, Automotive and Others (Aviation, Packaging, Medical)) and major geographies with country level break-up.
Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Specialty Plastic Additives market throughout the predicted period.
BASF SE (Germany), Bayer AG (Germany), Exxon Mobil (United States), The Dow Chemical Company (United States), Songwon Industrial Co. Ltd. (South Korea), Albemarle Corporation (United States), Clariant AG (Switzerland), Evonik Industries AG (Germany) and Lanxess AG (Germany) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Eastman Chemical (United States), Kaneka Corporation (Japan), PolyOne Corporation (United States), Blackwell Plastics (United States) and PMC Group, Inc. (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Specialty Plastic Additives market by Type, Application and Region.
On the basis of geography, the market of Specialty Plastic Additives has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In May 2016, Evonik Industries AG has acquired the specialty & coating additive business of Air Products and Chemicals, Inc. The acquisition has helped the company to strengthen its position in the market for specialty & coating additives.
In January 2015, Songwon has entered into a sales, marketing, and technical service agreement with Kumho Petrochemicals Co. Ltd. to market and supply their polymer and rubber additives products. Songwon is now the exclusive distributor of two of Kumho's products - 'Kumanox 5010L' and 'Kumanox 3020'.
The stringent government regulations from the European government have banned the commercial application of certain specialty plastic additives that include flame retardants, plasticizers, colorants, and other additives. Also, the use of phthalates was banned by most of the economies including China, Europe, and the United States.
Market Trend
- Use of Biodegradable Specialty Plastic Additives
Market Drivers
- Excess usage of plastic products is positively influencing the specialty plastic additive market and expected to have a greater impact in the future.
- Replacement of Conventional Materials by Plastics in Several Applications
- Lower Prices, High Performance and Higher Durability
Opportunities
- Huge Investments in Research and Developments in the Field of Green Chemistry and Increasing Reusability
- Untapped Opportunities in Emerging Markets for Packaging
- Increasing Demand from Agricultural and Pharmaceutical Applications
Restraints
- Stringent Governmental Regulations for Specialty Plastics Additives
Challenges
- Recycling Of Non-Degradable Plastics Waste
Key Target Audience
Specialty Plastic Additives Manufacturers, Raw Material Suppliers, Traders/Exporters/Importers, Government and research organizations, Distributors, and Suppliers, End-use Industries and Others
Customization available in this Study:
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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