Albany, NY -- (SBWIRE) -- 07/07/2014 -- According to a new market report published by Transparency Market Research "Plastic Additives Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019", the market was valued at USD 11.16 billion in 2012, and is expected to reach USD 15.90 billion by 2019, growing at a CAGR of 5.2% from 2013 to 2019. Lack of adequate power infrastructure and increasing demand for reliable electricity delivery are the major driving forces of this market.
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The Plastic additive is a diversified industry with various types of additives such as property modifiers, property extenders, property stabilizers and processing aids and is set to demonstrate a high growth rate over the next few years. Major end use markets served by the industry include Transparency Market Research commercial construction, automotive, consumer appliances industry and general manufacturing industries.
The plastic additive industry being energy and capital intensive, oil and gas are considered as major raw material suppliers for the industry. The global plastic additives market continues to grow and discover new growth opportunities mainly due to increase in end use markets such as commercial construction, automotive, consumer appliances industry and general manufacturing industries. Initial high implementation cost remains the major concern; however the high ROI (return on investment) is expected to overcome this concern and drive the growth of the plastic additive market. The other factors driving the market include rise in plastic consumption, recovering economy, and compliance with environment.
Among all the geographical regions, Asia Pacific is leading globally both in terms of production and consumption of plastic additives due to increase in end use market such as automobile industry and construction industry. Moreover, the automobile industry in China and India is expected to grow at over 8% and 14% respectively. The demand from mature markets such as U.S. and Europe is also expected to increase due to recovery from a sluggish economy.
The opportunities in plastic additives market are huge as many market players are continuously investing and focusing on new product development. BASF remains the biggest manufacturer of plastic additives; other manufacturers include Chemtura Corporation, Exxon Mobil Corporation Bayer AG, Chemtura, Kaneka and many more. This report helps to identify factors, which will be the driving force behind the plastic additives market and sub-markets in the next five years.
The report provides extensive analysis of the plastic additives industry, current market trends, industry drivers and challenges for better understanding of the plastic additives market structure. The report has segregated the plastic additives industry in terms of its function, product types and geography. The overall chemical industry production grew by about 2.0% in 2011 in spite of reduced demand of plastic in end used segment in the last two quarters. Also, the industry is forecasted to grow by 1.5% in 2012 and 2.0% in 2013. Such a growth is a positive sign for a mature industry.
This growth is mainly due to growth in the emerging market economies and recovery of major end-use markets. As the U.S. is one of the major markets for the chemical industry, fall in the U.S. natural gas prices as compared to global crude oil prices turns out to be a positive sign for the U.S. chemical industry. This decrease in price of natural gas has improved the cost competitiveness of the U.S. chemical industry, thus driving further the growth of the global chemical industry. End user application market (31%) leads in consumption of chemicals globally followed by service sectors (16.6%). Countries like Saudi Arabia, China, Iran, India, Russia, Korea, and Brazil are expected to be the future destinations for chemical manufacturers to invest during 2012-2020. Plastic additive is a diversified industry with a diverse range of additives such as property modifiers, property extenders, property stabilizers and processing aids and is set to demonstrate a high growth rate over the next few years. The economic crisis has slowed down the growth rate of the plastic additive industry in the recent past, but it has still survived to continue growing and it is expected to develop at a CAGR of 3.8% from 2011 to 2019.
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