An insightful report titled "Plastic Additives Market (Functions, Types, Applications and Geography) - Size, Share, Global Trends, Analysis, Opportunities, Growth, Intelligence and Forecast, 2012-2020" was published by Big Market Report. The global plastic additives market is poised to reach 17.1 million tons by 2020 growing at a CAGR of 4.4% during 2013-2020. In 2013, global plastic additives market was estimated at 12.6 million tons in terms of volume.
Rising cost of metal equipment due to depleting mineral resources have triggered the application of plastics to replace the metal equipment. The low cost of plastic equipment and properties that match metal equipment is also pushing the higher adoption of plastics in a number of applications. Thus, rise in additive demand that adds to quality of plastics has also been witnessed. Specialty chemicals used in construction and automobile equipment are focus areas of additive manufacturing companies
The global plastic additives market growth is stifled by strict government rules as some plastics additives such as Chlorinated flame retardant are banned in countries, namely Canada, U.S. and the European Union. The pending legal suits are also deterring the growth of plastic additive market. Companies are facing difficulties with lawsuits such as patent imitation suit, commercial application of banned product etc.
Due to economic advantages, plastic additives manufactures have high focus on developing economies. Due to availability of low cost raw material and economical work force, Asia-Pacific is the leading revenue generating region among other geographies. However, the availability of economical work force in under developed economies such as in Africa is also attracting the global players. The Asia-Pacific and Rest of the world region shared 42.1% revenue in 2013 which is expected to soar to 60% by 2020. The increase in consumption of plastic products and raising awareness for the preservation of depleting resources is facilitating the growth of plastic additive market in these regions.
Plastic additive market consist of Plasticizers, Flame Retardants, Impact Modifiers, Antioxidants, Anti-microbial and UV Stabilizers. In terms of values and volume, plastic additive market by types is dominated by plasticizers. In 2013, the plasticizers market was valued at $21.4 billion and is anticipated to lead in terms of revenue generation during the analysis period. The multiple applications of plasticizers in manufacturing plastic products are promoting the market as compared to others segments. The flame retardants plastic additives market has highest growth potential which is forecast to grow at a CAGR of 5.4% during 2013-2020. Furthermore, antimicrobial market which is expected to grow at a moderate growth is promoted due to increase in demand for disposable products in healthcare industry.
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Plastic additives market is projected to grow in developing economies such as India, China, and Japan. The developing economies are more profitable for the global players operating in this market due to availability of low cost labors and raw materials.
The companies involved in the manufacturing of chemicals are trying to capture the natural resources to create monopolistic environment in supply chain of plastic additive and other chemicals market. Recently, Neftegaz America Shelf (a subsidiary of Roseneft) acquired 30% shares of deepwater exploration of ExxonMobil (Gulf of Maxico). This agreement had initiated the production and refining of petroleum products in that block. Key companies included in the company profiles are BASF, Chemtura Corporation, Exxon Mobil Corporation, Bayer Ag, Clariant Ltd. and Kaneka Corporation.