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Plastic additive is a diversified industry with various types of additives such as property modifiers, property extenders, property stabilisers and processing aids and is set to demonstrate a high growth rate over the next few years. Major end use markets served by the industry include commercial construction, automotive, consumer appliances industry and general manufacturing industries. The plastic additive industry being energy and capital intensive, oil and gas are considered as major raw material suppliers for the industry.
The global plastic additives market is expanding, according to a report released by Transparency Market Research. Global plastic additives market revenue reached $39.7 billion in 2011 and is expected to hit $47.8 billion by 2016, recording a 3.8% average annual growth from 2011 to 2016. The global plastic additives market continues to grow and discover new growth opportunities mainly due to increase in end use markets such as commercial construction, automotive, consumer appliances industry and general manufacturing industries. Initial high implementation cost remains the major concern; however the high ROI (return on investment) is expected to overcome this concern and drive the growth of the plastic additive market. The other factors driving the market include rise in plastic consumption, recovering economy, and compliance with environment.
Among all the geographical regions, Asia Pacific is leading globally both in terms of production and consumption of plastic additives due to increase in end use market such as automobile industry and construction industry. Moreover, the automobile industry in
The opportunities in plastic additives market are vast as many market players are continuously investing and focusing on new product development, according to the report.
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