January 27, 2025
Boston: According to the latest study from BCC Research, “Global Markets for Plastics Additives” is expected to grow from $61.5 billion in 2024 to $80.7 billion by 2029, at a compound annual growth rate (CAGR) of 5.6% from 2024 through 2029.
The market’s growth is propelled by the ability to enhance the properties of plastic products, such as durability, flexibility and thermal stability. This report segments the market by product type, application, and end user. It also covers market dynamics, key manufacturers, ESG trends and the regulatory landscape. The market is analyzed by region into North America, Europe, Asia-Pacific, and the Rest of the World, with market estimates provided in millions of dollars.
The demand for plastics is increasing as environmental concerns push for additives that make plastics more recyclable and eco-friendlier. There is also a need for antimicrobial and hygienic plastic products. New regulations on plastic use are driving the development of better additives. The move towards a circular economy encourages using recycled plastics in valuable applications, meeting environmental and market needs.
The factors driving the market include:
Industrial Demand: Packaging, automotive, and construction industries need enhanced plastic properties. Additives improve plastics' durability, stability, and appearance, driving demand as these industries grow.
Emerging Economies: Rapid industrialization in emerging economies, especially Asia-Pacific, boosts plastic consumption. Increased purchasing power and urbanization increase demand for plastic products and packaging.
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Report Synopsis
Report Metric |
Details |
Base year considered |
2023 |
Forecast period considered |
2024-2029 |
Base year market size |
$58.9 billion |
Market size forecast |
$80.7 billion |
Growth rate |
CAGR of 5.6% from 2024 to 2029 |
Segments covered |
Product Type, Application, End User, and Region |
Regions covered |
North America, Europe, Asia-Pacific, and the Rest of the World (RoW) |
Market drivers |
|
Interesting facts:
The report addresses the following questions:
1. What is the projected size and growth rate of the market?
2. What market segments are covered in the report?
3. Which end-user segment will dominate the market in 2029?
4. Which region has the largest share of the market?
Market leaders include:
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Global Markets for Plastics Additives( PLS022H )
Publish Date: Nov 2024
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