The global plastics additive market is expected to see good growth over the next five years, according to two market research reports that have been released. Plastics additives are the substances that are added in various polymers during processing to help improve the properties and characteristics of the polymers such as strength, texture, durability, heat sensitivity, UV and chemical resistance.
According to Allied Market Research, the global plastic additives market was valued at $41.4 billion in 2013 and is expected to generate revenue of $57.8 billion by 2020 at a CAGR of 4.9% during 2013-2020. The global plastic additives market in terms of volume was estimated at 12,619.8 Kilo Tons in 2013 and is expected to reach 17,071.7 Kilo Tons by 2010 growing at a CAGR of 4.4% during 2013-2020. Drivers that will impact the growth of the plastic additives market include an increase in environmental awareness and intervention by government to promote non-toxic plastic additives.
The Freedonia Group, a Cleveland-based market research firm, reported that the U.S. plastic additives market represents a 3.2 billion-pound industry. U.S. demand for specialty plastics is forecast to rise 4.5% annually to 4.0 billion pounds in 2017 driven by a rebound in the key construction market. Processing aids and property modifiers are expected to be the fastest growing types while plasticizers will remain the largest segment. PVC will remain the dominant resin and will grow the fastest.
Plastics Color stays on top of new plastic additives technology and keeps abreast of regulatory issues, health concerns, and processing technologies for materials with these additives to help our customers obtain the best products with the highest value to their customers. Call us with any questions you might have about additives and how they might enhance the products you produce.