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Polymer Additives Market Size, Share, and Analysis, By Type (Plasticizers, Antimicrobials, Impact Modifiers, Antioxidants, Flame Retardants, UV Stabilizers, Lubricants, Others), By Functions (Property Stabilizers, Property Modifiers, Processing Aids and Property Extenders), By Ingredients (Ceramic Fiber, Bisphenol A Diglycidyl Ether, Surfactants, Styrene Butadiene Rubber (SBR), Others), By Technology (UV Protection, Anti-Scratch, Mold Release, Anti-Fog, Plasticization, Others), By Application (Consumer Goods, Packaging, Automotive, Agriculture, Coating, Building and Construction, Electrical and Electronic, Others) and Regional Forecasts, 2022-2032
Polymer Additives Market size was USD 49.5 billion in 2021 and projected to grow from USD 54.6 billion in 2023 to USD 85.2 billion by 2032, exhibiting a CAGR of 5.1% during the forecast period.
Polymer additives are the substances that are added to the polymer matrix to enhance the processing ability of polymer like improving the shelf life of material, modify into a required end-use product. Additives are combined to polymers for enhancing the smooth surfaces, support optical qualities, simplify processing, and to provide anti-aging advantages. The addition of additives to polymer has major impact on its performance and stability.
Polymer Additives Market is expected to reach USD 85.2 billion, growing at a CAGR of 5.1% during forecast period owing to the improvements in additives like green chemistry and bio-based compounds which will improve the materials acceptability for usage. The market for polymer additives is expected to increase due to the industrialization, extension of packaging industry and lifestyle modifications. Increasing plastic consumption and widening of industrial sector is expected to drive the demand for the growth of Polymer Additives Market.
Polymer Additives Market is classified based on the Type into Plasticizers, Antimicrobials, Impact Modifiers, Antioxidants, Flame Retardants, UV Stabilizers, Lubricants, Others. Plasticizers segment dominated the market in 2021 owing to the wide range of applications possessed by plasticizers in production of PVC to enhance the fluidity and plasticity nature of product. Flame Retardants segment is expected to dominate the market in the forecast period due to the ability of material to conduct heat well and their usage aerospace and automobile industry.
Polymer Additives Market is classified based on the Functions into Property Stabilizers, Property Modifiers, Processing Aids and Property Extenders. Property Stabilizers segment dominated the market in 2021 and is expected to continue its dominance in the market over the forecast period owing to their wide usage of material due to their improved stability in thermal and chemical bonding with the physical properties. The growing demand and applications of Polymer Additives is expected to boost the growth of the market.
Presence of Various Applications is Expected to Boost the Growth of the Market
The presence of various applications and uses of additives in the packaging, manufacturing, automotive, agriculture and different industries is expected to create growth opportunity for the market. The property like conductivity of carbon nanofibers and carbon nanotubes is expected to boost the growth of the market. The increasing urge of commodities due to the urbanization and the growing disposable incomes is expected to drive the demand for the market growth. Polymer additives play an important role in enhancing the quality of the finished product.
Increasing Urbanization is Expected to Boost the Growth of the Market
Increasing urbanization, growing disposable incomes and modifications of lifestyles are creating demand for goods, automobiles, packaging materials etc. which is expected to boost the growth of the market. Growing awareness on following sustainable practices and the necessity to decrease the carbon footprint is creating demand for the market. Polymer additives provide enhanced environmental presentation and the improved performance of polymer additives is anticipated to drive the growth of the market.
Rules and Regulations by Governments May Restrain the Growth of the Market
The strict rules and regulations set by the government in the manufacture and disposal of the product is expected to restrain the growth of the market. The increasing environmental concerns are also expected to hamper the market growth.
(Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
Polymer Additives Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia Pacific dominated the market in 2021 owing to the increased demand for manufacturing industries in countries of this region along with the presence of properties like resistivity to corrosion, high strength which are resulted in the growth of the market. North America region is expected dominate the market in the forecasted period owing to the various advancements in technology which will assist in the growth of the market.
The COVID-19 outbreak had resulted in the economic downfall. Several countries had imposed lockdowns and travel bans to control the coronavirus spread. Due to the restrictions applied on the material movement, travel bans and downfall of various industries like automotive, manufacturing etc. resulted in the negative impact on the market. The unavailability of raw materials results in reduced production capability. Covid-19 had a negative impact on the growth of the Polymer Additives Market.
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ATTRIBUTE |
DETAILS |
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Study Period |
2018-2032 |
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Base Year |
2022 |
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Forecast Period |
2022-2032 |
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Historical Period |
2019-2021 |
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Growth Rate |
CAGR of 5.1% from 2022-2032 |
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Unit |
Value (USD Billion) |
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Segmentation |
Main Segments List |
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Type |
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Functions |
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Ingredients |
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Technology |
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Application |
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By Region |
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Polymer Additives Market size was estimated at USD 49.5 billion in 2021 and is expected to reach USD 85.2 billion in 2032.
Polymer additives are the substances that are added to the polymer matrix to enhance the processing ability of polymer like improving the shelf life of material, modify into a required end-use product.
Plasticizers and Property Stabilizers segment accounted for the largest Polymer Additives market share.
Key players: BASF, AkzoNobel, DuPont, 3M, Bayer AG, Clariant, CYTEC SOLVAY GROUP, DOW Plastic Additives, Chemtura Corporation, ADEKA, Ferro Corporation, Croda, TCI Chemicals, Clariant Ltd., Exxon Mobil Corporation and Other Prominent Players are the key players in the Polymer Additives Market.
Presence of Various Applications and Increasing Urbanization are the factors driving the Polymer Additives market.
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