Plastic Additives Market: By Product Type (Antioxidants, Chemical Blowing Agents, Plasticizers, Stabilizers, Flame Retardants, Impact Modifiers, Others) By Application Areas (Packaging, Consumer Goods, Automotive, Construction, Others) By Plastic Type (PVC, Polyolefin, Polyethylene, Polypropylene, Polystyrene, Others), and Geography  

Plastic Additives Market size was valued at USD 45.7 billion in 2022 and is poised to grow at a CAGR of 5.7% from 2023-2029. The Plastic Additives Market in this study is mostly focused on plasticizers, flame retardants, antioxidants, antimicrobials, UV stabilizers, and blowing agents, among other types of plastic additives. Lubricants, color pigments, bio-stabilizers, perfumes, bio-degraders, and anti-static plastic additives are not covered in this report. The purpose of plastic additives such as property modifiers, property stabilizers, property extenders, and processing aids is also covered in this paper. Plastic additives have a diverse product portfolio that has given the plastic product market new opportunities. Plastics are employed in a variety of ways in the market; however, these different types of plastics are created by adding additives.

The additives work as catalysts or fillers to improve the qualities of plastics, which can be employed in a range of applications including automobiles, homes, and telecommunications. Polymers are blended with a variety of materials known as additives to create all plastic products. Plastics are made safer, cleaner, harder, heat and UV-resistant, and antibacterial by adding additives. The increase in the adoption of plastic in construction, packaging, automotive, and other end-user industries is a major factor driving the market over the forecast years. In the construction industry, plastic materials are widely used for the thermal insulation of buildings and to improve the efficiency quality, and safety of the buildings. Moreover, an increase in the usage of plastic products also surged the market over the forecast years. Due to the low price of plastic material, high durability, and high performance with plastic, the development of non-toxic plastic, and the growing commercialization of plastic materials are anticipated to propel the market over the forecast timeframe. The global plastic additives market is surging owing to frequent product approvals and launchings, strategic alliances, and business expansion by the market players. For instance, In October 2019, Clariant introduced 2 new natural-based waxes and dispersing agents for engineering plastics and biopolymers: Licocare RBW 360 TP Vita and Ceridust 1060 Vita.