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Global plastic additives market to grow through key companies

Source:Technavio Release Date:2023-11-14 434
Plastics & RubberOthers Industry FocusIndustry Updates
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In 2017, the plastic additives market was valued at USD 42.05 billion. From a regional perspective, APAC held the largest market share, valued at USD 17.22 billion. The plastic additives market size is estimated to grow by USD 19.86 billion from 2022 to 2027 at a CAGR of 6.45% according to Technavio. The report analyzes the market's competitive landscape and offers information on several market companies.


The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services.


The plastic additives market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as prospects.


Major drivers


  • Increasing demand for recycled plastics from the packaging industry
  • Developing countries to boost the demand for plastic additives
  • Increased demand from the e-commerce market


Key challenges


  • Harmful effects of plasticizers on the environment
  • Ban of phthalates plasticizers
  • Volatility in raw material prices


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