NEW YORK, Jan. 7, 2016 /PRNewswire/ -- This BCC Research report identifies and measures the market opportunities for the full range of plastics additives. The global additives market is broken down and measured by various parameters, and future growth is forecast for both the overall market and other possible market segments through 2021.
Use this report to:
Identify and measure market opportunities for the full range of plastics additives.
Gain information about the applications of the plastics additives industry.
Analyze the effect of environmental and regulatory factors on the supply chain, value and demand for plastic additives.
Analyze the market distribution of plastics additives in Asia Pacific, Europe, and North America and the rest of the world.
The global market for plastics additives was valued at $48.2 billion in 2015. This market is estimated to grow from nearly $50.6 billion in 2016 to $64.6 billion by 2021 with a compound annual growth rate (CAGR) of 5.0 % for the period of 2016-2021.
Property modifiers, the leading segment of this market, will grow from nearly $27.9 billion in 2016 to nearly $35.9 billion by 2021 with a CAGR of 5.2%.
The property extenders segment will grow from $9.3 billion in 2016 to $11.9 billion by 2021 with a CAGR of 5.1%.
Plastics play an important part in everyday life because their versatility allows them to be used in everything from car parts to doll parts, from soft drink bottles to the refrigerators they are stored in. Plastic materials and products play an important part in cutting-edge technologies used in the space program, in bulletproof vests and prosthetic limbs, as well as in a myriad of everyday products. In fact, plastics have permeated every facet of human life, in agriculture and water consumption, building construction, communications, small and bulk packaging, education, medicine, transportation, defense and consumer durables. One of the main reasons for the popularity of plastics is the tremendous range of properties exhibited by them, because of their ease of processing. As a result, the demand for plastics in modern living has been steadily increasing.
All these plastics products are made from an essential polymer mixed with a complex blend of materials known as additives. Without additives, plastics would not work, but with them they can be made safer, cleaner, tougher and more colorful. Additives cost money, of course, but by reducing production costs and making products last longer they help save money and conserve the world's precious raw material reserves. In fact, our world today would be a lot less safe, a lot more expensive and a great deal duller without the additives that turn basic polymers into useful plastics. Plastic additives will continue to gain in importance in the future, not only because of the steadily rising technical standards required of polymeric materials, but also because customers are under increasing pressure to keep on raising productivity.
This translates into an increasing demand for even better additives. The market success of polymers, such as polyvinyl chloride (PVC) or polypropylene (PP), depends not only on the basic polymer but also on the additives that make the plastics as useful as they are. Their usefulness is largely attributed to the polymers used to make them and not the additives used. Yet, when concerns arise regarding human health and the environment, plastics additives are often found to be responsible, and the industry is required to either replace the additive or else prove that it is indeed harmless.
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