Additives Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product Type (Plastic Additive, Food Additive, Construction Additive, Lubricant Additive, Fuel Additive, Coating Additive, Agrochemical Additive, Medicated Feed Additive & Others), By End User (Packaging, Food & Beverage, Building & Construction, Chemical, Automotive, Aerospace, Animal Husbandry, Others), and Region Forecast 2019-2030

Additives Market size was valued at USD 163.9 billion in 2023 and is projected to grow at 5.1% CAGR from 2024–2030. An additive is an active ingredient added to a product to enhance certain aspects including productivity, shelf life, texture, performance, and efficiency, different kinds of additives in the market are coating, lubricant, fuel, food, plastic, agrochemical, and building additives. Polymer is combined with composite elements known as plastic additives to create plastic products that are utilised in applications like prosthetic hip joints, dashboards, steering wheels, synthetic bumpers, and hypodermic syringes. The expansion of the food and packaging industries as well as the growing use of lightweight materials in the automotive sector are the main key drivers for the growth of the global additives market.

Additionally, there is a greater demand for packaged food and beverage goods due to increased awareness of hygienic eating options. Increasing adverse consequences like headaches, nausea, eye redness, and nausea by usage of additives may hamper the growth of global additives market and also the usage of chemicals in a variety of meals can result in decrease of the additives market growth and huge product costs and banning of its use in developed western countries can be challenging for the global industry growth of additives market. Growing penetration of the product like coating additives, lubricant additives in the construction and automotive sector to open new market growth avenues across the globe is a key opportunities in additives market. However, the use of additives in animal husbandry like adding additives in feed and water of animals to improve their gut and overall performance of health and also using natural additives in animal husbandry is creating a trend in the growth of additives market.

Additives Market Key Developments

• In February 2022, BASF SE, released RegXcellence service for customers using plastic additives, additionally, by providing online solutions, they are opening up new avenues for innovation for companies involved in the plastic additives market.