Published By : 24 Jun 2016 | Published By : QYRESEARCH
The global market for plastic additives is poised to rise dramatically in the coming years. The increasing demand for plastic additives from the automotive, construction, and consumer appliances industries is likely to boost this market in the near future. However, the high cost of raw materials is expected to limit the growth of this market over the next few years. Apart from this, the recent ban on a wide range of plastic additives is also projected to impact badly on the market’s future performance.
Analysts, however, expect the high returns on investments (ROI) to assist market players in overcoming these issues and drive the market’s growth in the coming years. The introduction of eco-friendly chemicals is also anticipated to propel the global market for plastic additives in the near future.
Asia Pacific to Maintain Dominance among Regional Markets
The worldwide market for plastic additives is spread across Europe, Asia Pacific, North America, and the Rest of the World. Asia Pacific has emerged as the market leader among all the regional markets in terms of the production as well as consumption volume.
The rapid rise in the construction and automotive industry in this region is boosting the Asia Pacific market for plastic additives significantly. Experts project the automotive industry in India and China to grow at a rapid pace over the next few years, which in turn, is anticipated to increase the demand for plastic additives in the region. Other regional markets are also expected to report a healthy rise in their market shares in the coming years.
Leading Players in Global Plastic Additives Market
The worldwide plastic additives market exhibits a consolidated structure with the presence of a number of participants such as BASF, Chemtura Corp., Kaneka, Clariant Exxon, Bayer AG, and Mobil Corp. Among these, BASF emerged as the largest plastic additive manufacturer across the world.