#Plastic #Additives #Market #Size #projected #reach #USD
New York, United States, Oct. 24, 2022 (GLOBE NEWSWIRE) — Asia-Pacific is expected to be the fastest-growing market for plastic additives during the forecast period. Factors such as increased economic activity, increased use of plastics, and rising industrial output have led to market growth. Concerns regarding recycling remain, which can slow down the growth. The market has been segmented into type, plastic type, and its applications.
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Impact of COVID-19
COVID-19 impact on plastic additives has been adverse. Plastic additives demand is directly dependent on plastic demand, which is related to applications, such as construction, packaging, consumer goods, and automotive, which are severely affected. Government lockdowns and other restrictions have impacted the supply chain and disrupted overall plastic production.
Report Scope
| Report Metric | Details |
| Market Size | USD 37.23 Billion by 2030 |
| CAGR | 4.7% (2022-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Plastic Type, Application, Region |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | BASF SE, Evonik Industries, Adeka Corporation, Arkema Group, CLARIANT, Croda International Plc, DOW, ExxonMobil Corporation |
| Key Market Opportunities | Rising Research Activities to Develop Bio-Based Plastics |
| Key Market Drivers | Substitution of Traditional Material Increased Demand for Plastic |
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Regional Analysis
According to Plastics Europe, more than 50% of plastic is produced in Asia-Pacific of which China accounts for 30%. The pandemic’s…
Read on GNW: Plastic Additives Market Size is projected to reach USD
