May 07, 2018
WELLESLEY, Mass., May 07, 2018 – The increase in commercial construction, automotive, consumer appliances and general manufacturing are set to drive the global market for plastics additives. In a new report Global Markets for Plastics Additives, BCC Research estimates this market will reach $53.3 billion in 2017. The industry is forecast to be worth $68.8 billion by 2022, indicating a compound annual growth rate (CAGR) of 5.2%.
The use of plastics additives will become increasingly important, partly due to the steadily rising technical standards required of polymeric materials, which will grow consumer demand for improved additives. The other factors driving the global market for plastics additives include the rise in plastics consumption, a recovering economy and increasing compliance with environmental regulations. The growing use of electronics in nearly every market is spurring demand, as well.
Additive manufacturers and suppliers are diverse, but most of the larger companies have sizable R&D teams with sales offices and manufacturing facilities in several countries. The most successful plastics additives suppliers are likely to have access to the necessary raw materials at competitive prices.
“The market success of polymers, such as polyvinyl chloride (PVC) or polypropylene (PP), depends not only on the basic polymer but also on the additives that make the plastics as useful as they are,” said BCC Research analyst and report author Srinivasa Rajaram. “Their usefulness is largely attributed to the polymers used to make them and not the additives used. Yet, when concerns arise regarding human health and the environment, plastics additives are often found to be responsible, and the industry is required to either replace the additive or else prove that it is indeed harmless.”
Regulatory and Environmental Issues Hinder Growth
Environmental regulations – based on concerns about limited natural resources, pollution and waste, and clean water and air – are being enacted in countries around the world, and they are influencing and changing the design, manufacture, use and disposal of products in many industries. The electronics industry, where design cycles and product life spans are short, unit builds are high, and manufacturers design, produce and sell globally, is most affected by these regulations. Manufacturers and processors of plastics parts for electrical/electronic equipment must fully understand all the implications of these regulations and must select the best possible materials, including plastic additives, to comply with the regulations.
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Global Markets for Plastics Additives( PLS022F )
Publish Date: May 2018
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