Sellbyville, DE -- (SBWIRE) -- 07/02/2020 -- In the recently complied research report by Global Market Insights, Inc., plastic additives market size is likely to grow substantially by 2026. Brand owners and manufacturers have upped their investments in plastic additives and are adding it to base polymer plastics to enhance their attributes and make them ideal for a slew of applications.

Leading companies are buoyed by the fact that plastic additives reduce raw material costs, enhance processability, and extend the lifespan of the product. Given that majority of plastics are vulnerable to degradation when exposed to high temperature, oxygen, and UV light from sun rays, additives are being added to withstand the deterioration of the plastic and bolster the life span of the product.

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Trends

Of late, trend of plastic additives to act as flame retardants is likely to instill stakeholders' confidence. In view of popularity of plastics in transport, electrical and telecommunication applications, flame retardants are increasingly being included in plastics to keep up with the mandatory regulations.

End-users are exhibiting increased traction for recycled plastic in pipe extrusion in light of its environmentally-friendly and economic upsides. Several companies are adding impact modifiers and stabilizers to offer extra protection against degradation and propel the recycled plastics mechanical properties.
Growth drivers

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. BASF
2. Clariant
3. Bayer AG
4. Songwon Industries Co., Ltd
5. DowDuPont
6. Albemarle Corporation
7. Evonik Industries AG
8. Kaneka Corporation
9. Lanxess, Sabik Imprint
10. Exxon Mobil Corporation

Use of plasticizers such as trimellitic, phthalatic, benzoic to bolster the durability and flexibility of plastics is likely to add fillip to plastic additives market. Plasticizers are being used to make the film clingy and prevent bacteria from getting into the food. Accordingly, thriving food & beverage industry augurs well for plastic additives market.

The unseen protection provided by impact modifiers has created revenue generating opportunities for leading companies. Impact modifiers are being added to brittle plastics to boost the shock absorption ability. Notably, impact modifiers such as EPDM, SBS and butadiene rubber.

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Application of antioxidants is also likely to provide opportunities galore as these compounds are being used to derail the degradation of plastics at the time of processing. Prominent manufacturers are likely to invest in antioxidants such as trivalent phosphorous compounds and sterically hindered phenols. With antioxidants preventing thermal oxidation reactions, end-users are likely to warrant plastic additives.

With growing demand for plastic products in APAC in a range of end-use applications such as automotive and pharmaceutical, stakeholders will be eyeing to expand their footprints in India and China. Besides, demand for plastic additives in circuit boards, plastic telephone and cable insulation is likely to provide opportunity galore for stakeholders.

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