Plastic Additives Market Worth 50.86 Billion USD by 2021 - Seite 2

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Packaging industry is the largest consumer of plastic additives

The packaging sector is the dominating application segment of the Plastic Additives Market. Packaging is widely used for industrial and household purposes. Change in lifestyle and globalization have triggered the demand plastic additives from the packaging industry. Increasing use of plastics in consumer goods is also expected to drive the growth of the plastic additives market.

Asia-Pacific to be the largest market during forecast period 

The plastic additives market is broadly segmented into five regions, namely, Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. Asia-Pacific is the largest market of plastic additives, in terms of volume. The growing packaging industry coupled with the increasing demand from the retail industry drives the market of plastic additives in the region. Polymer industries are witnessing high growth in developing countries such as India and Brazil

Currently, the global plastic additives market is dominated by various market players, such as Songwon Industrial Co. Ltd. (South Korea), Albemarle Corporation (U.S.), Clariant AG (Switzerland), BASF SE (Germany), and The Dow Chemical Company (U.S.), among others. The leading players mainly concentrate on new product development to enhance their market reach and make innovative products available to a large number of customers.

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