Lucintel’s latest market report analyzed that plastic additive provides attractive opportunities in the packaging, construction, consumer goods, and automotive applications. The plastic additive market is expected to reach $47.5 billion by 2028 with a CAGR of 5%. In this market, plasticizers is the largest segment by product type, whereas packaging is largest by application.
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Based on product type, the plastic additive market is segmented into plasticizers, stabilizers, flame retardants, and impact modifiers. The plasticizers segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to because it helps in enhancing the properties of plastics for a variety of applications, such as packaging, consumer goods, and chemical industries.
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The Plastic Additive Market is marked by the presence of several big and small players. Some of the prominent players offering plastic additive include Songwon Industrial, Albemarle, Clariant AG, BASF SE, and The Dow Chemical Company.
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