Plastic additives market to register CAGR of 5% to reach US$45.5 bln by 2019

06-May-15

The global plastic additives market is projected to register a CAGR of 5% between 2014 and 2019 to reach US$45.5 bln by 2019, as per Research and Markets. The global plastic additives industry is driven by increasing consumption of plastics by the growing population, rising disposable income of the people, and rapid pace of urbanization and industrialization especially in the Asia-Pacific region. Plastic additives are used in various applications such as packaging, construction, automobile, consumer goods, and other applications such as agriculture, furniture, and sports among others. The plastic additives market can be classified into three key segments, on the basis of plastic type- commodity plastics, engineering plastics, and high performance plastics. Commodity plastics are the largest plastic additives segment by plastic type mainly attributed to the decreasing prices of polyolefins due to the shale gas boom. The plastic additives market can be classified into application segments, such as packaging, consumer goods, automotive, construction, and others. Packaging segment is the largest market of plastic additives due to growing demand from food & beverage, pharmaceutical, and agricultural end-use industries. The plastic additives market can be classified into four key segments, on the basis of type plasticizers, flame retardants, impact modifiers, stabilizers, and other additives. Flame retardants segment is the fastest-growing type as it was due the increasing demand from various applications such as consumer goods and construction.