Comparing 20 vendors in Plastic Additives across 27 criteria.
POWERED BY MARKETSANDMARKETS
Jun 04, 2023
360 Quadrants produces a list of “Top 20 Plastic Additives Companies, Worldwide 2023”, in partnership with MarketsandMarkets. The report recognizes the standouts in the polyurethane market ranging from mid-sized enterprises to Fortune 500 companies existing in the market. The Plastic Additives vendors evaluation was conducted over 200 companies of which the top 20 companies were categorized and recognized as the new economic quadrant leaders.
Key Highlights included in 360 Quadrants:
- The plastic additives market is highly competitive. The growing global demand has changed the dynamics of competition in the market with the emergence of new manufacturers in emerging economies. The market size of plastic additives market size is estimated to reach USD 59.9 billion by 2026, from USD 43.2 billion in 2022, at a CAGR of 5.6% between 2022 and 2026. This growth is attributed to changes in lifestyle, increasing usage of plastics in day-to-day activities, and increasing globalization.
- Asia Pacific is becoming one of the most prominent regions for the growth of the plastic additives industry. In 2022, it accounted for a share of nearly 35% in terms of volume. Europe accounted for the second largest share after the Asia Pacific. The North American market is also growing at a faster pace and is expected to grow on par with the European regions.
- In terms of plastic additives by type, plasticizers accounted for the largest share of the market. This is mostly due to its wide applicability across various applications. The flame retardants segment is also expected to witness the fastest growth during 2022 and 2026.
- The increasing usage of polyolefin plastic packaging in food and beverages and pharmaceutical applications is set to create a high demand for the commodity plastics segment. It is the fastest-growing segment and is expected to hold its position in the coming years due to its rapidly increasing use of economically and environmentally friendly products.
- Plastic additives are widely used in applications such as packaging, construction, consumer goods, and automotive, among other applications. It was observed that in 2022, the packaging application was the major contributor to the plastic additives market, followed by consumer goods and automotive applications. There is growth expected in the automotive sector due to the high demand for plastic molded parts in car manufacturing.
- BASF SE (Ludwigshafen, Germany), Lanxess (Cologne, Germany), Nouryon (Amsterdam, Netherlands), Evonik Industries AG (Essen, Germany), and Dow (Midland, USA) are the key players in the plastic additives market. Together these companies hold a market share of 25%-30%.
- The key market players are adopting various strategies such as new product launches, acquisitions, and partnerships, to expand their geographic reach and cater to the untapped market areas. In March 2022, BASF increased its capacity for plastic additives in Europe. Through this, the company was able to expand its production footprint. The company also launched VALERAS for its plastic additives portfolio, where VALERAS adds value to plastic applications by delivering significant sustainability benefits with additive technical solutions and services.
The Full List
The Full List
|Logo||Company||Headquarters||Year Founded||Holding Type|
|Astra Polymers||Dammam, Saudi Arabia||1993||Private|
|Avient||Avon Lake, USA||2000||Private|
|PMC||Mount Laurel, USA||1994||Private|
|Songwon||Ulsan, South Korea||1965||Private|
Frequently Asked Questions (FAQs)
Plastic additives are chemicals that are added to plastic products during the manufacturing process to improve or modify their properties.
Plastic additives come in a variety of forms that can be utilised in the production of plastic. Stabilizers are one type; they are added to plastic to stop it from deteriorating from environmental influences like heat and light. Plasticizers are a different kind that are used to soften and make the plastic more flexible. Colorants and flame retardants are used to give plastic products their distinctive colours and reduce their flammability. Lubricants improve the flow of the plastic during manufacturing, antioxidants stop plastic from breaking down due to oxygen exposure, and fillers can be used to cut costs. Depending on the type of plastic being produced and the intended use of the finished product, different additives are used.
Plastic additives can improve properties like flexibility, strength, durability, and resistance to heat, UV light, or fire. They can also make the plastic more resistant to chemicals. They improve the way plastic works, making it better for certain uses and cheaper because it doesn't need expensive materials to get certain properties. Also, plastic additives can be used in many different ways and come in many different types, so manufacturers can change the plastic to meet specific needs. Lastly, plastic additives make plastic more durable, so it lasts longer, needs less maintenance, and doesn't need to be replaced as often.
Some common plastic additives used in food packaging are antimicrobial agents and antioxidants. Antimicrobial agents stop bacteria and fungi from growing, and antioxidants stop fats and oils in food from turning rancid. Plastic packaging is also made more flexible and easier to work with by adding plasticizers like phthalates. UV stabilisers keep the plastic from breaking down when it's exposed to UV light, and slip agents make it easier to work with. Colorants are also used to add colour to the packaging of food. It's important to remember that these additives are carefully regulated to make sure they are safe for use with food, and their use is limited and restricted based on what they are used for and what kind of food they come in contact with.
A plasticizer is a chemical additive that is added to a plastic during the manufacturing process to increase the flexibility, durability, and workability of the material. Plasticizers work by lowering the intermolecular forces between polymer chains in the plastic, making it more pliable and easier to shape. This increased flexibility enables the plastic to be moulded into various shapes and sizes, as well as making it more resistant to cracking or breaking under stress. Plasticizers that are commonly used include phthalates, adipates, and citrates. However, some plasticizers have been found to have negative health and environmental effects, and research into safer alternatives is ongoing.
There are numerous additives that can be used in polymers, but here are four of the most common: Stabilizers: These are chemicals that protect polymers from degradation caused by heat, light, or other environmental factors. UV stabilisers, which protect against UV radiation, and antioxidant stabilisers, which prevent oxidation, are two examples. Plasticizers: These are chemicals that are added to polymers to make them more flexible and workable. Plasticizers weaken the intermolecular forces between polymer chains, making the material more pliable and shapeable. Flame retardants: They are chemicals that are added to polymers to make them less flammable. Flame retardants function by interfering with the combustion process, either by reducing the available fuel or by forming a barrier between the polymer and the flame. Colorants: They are substances that give polymers their desired colour. Colorants can be mixed with other additives such as plasticizers or stabilisers or added directly to the polymer resin. Pigments are a type of colourant that is commonly used in polymers.
Plastics contain additives for a variety of reasons, including: Improving performance: Plastic additives can improve properties such as strength, flexibility, and durability, making them suitable for a variety of applications. Extending the lifespan of plastics: Additives can shield plastics from environmental factors like heat, light, and humidity, which can cause degradation over time. Enhancing appearance: Colorants and pigments can be used to add colour and improve the appearance of plastic products. Cost reduction: By replacing more expensive materials with less expensive ones, additives can be used to reduce the cost of manufacturing plastics. Compliance with regulatory requirements: Some additives, such as flame retardants, are required by law to comply with safety regulations. Overall, additives are critical to the performance, appearance, and longevity of plastic products, as well as the plastic manufacturing process.
Functional additives are chemicals that are added to plastics to make them better for certain uses. They are made to change the way the plastic works in a specific way, which lets manufacturers meet the different needs of different products. Antimicrobials, conductive additives, anti-static additives, lubricants, and cross-linking agents are all examples of functional additives that are used in the plastics industry. These additives can help make plastic products look better, last longer, be stronger, and have other good qualities. In the plastics industry, it is important to use functional additives to meet the needs of many different industries, such as electronics, medical devices, packaging, automotive, and construction.
Plastic additives are important because they can improve how well, how long, and how nice-looking plastic products are. Plastic additives can make plastic materials stronger, more flexible, and more resistant to heat. This lets them meet the different needs of different applications. Additives can also lengthen the life of plastic products by protecting them from things like UV radiation, heat, and humidity. Plastic additives are also a big part of making sure that safety, hygiene, and sustainability rules are met. By adding functional additives to plastic products, manufacturers can change their properties to meet specific performance needs. This makes functional additives an important part of the plastics industry.
There are many good things about plastic additives, but there are also some possible bad things that could happen if they are used: Effects on the environment: Some additives to plastic, such as phthalates and bisphenol A (BPA), are bad for the environment and for people's health. These chemicals can stay in the environment for a long time and can be harmful to aquatic life and other types of life. Health concerns: Some additives to plastic have been linked to health problems like messed up hormones, cancer, and problems with how people grow and develop. For example, lab animals that were given phthalates had trouble getting pregnant. Migration: Additives in plastic can move from the plastic into food or other products, which could expose people to chemicals that are bad for them. Regulatory issues: Some plastic additives have been banned or limited in some countries because of safety concerns, which could cause problems in the supply chain. Lack of transparency: Some companies may not tell customers what kinds or how much of the additives they use in their products. This makes it hard for customers to make smart decisions about how to use them. Overall, plastic additives have a lot of benefits, but it's important to think carefully about how to use them and what risks they could pose to people's health and the environment.