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Plastic Additives Market Size
- Report ID: GMI5471
- Published Date: Mar 2023
- Report Format: PDF
Plastic Additives Market Size
Plastic Additives Market size surpassed USD 57.48 billion in 2023 and is poised to observe nearly 4.5% CAGR from 2024 to 2032. High adoption of plastic additives in the automotive sector will drive market development.
Increasing use of plastic across various sectors due to its exceptional properties will influence market growth. Plastic is replacing traditional materials like metal, glass, and paper in these industries at a faster rate owing to its extraordinary attributes including strength, dependability, flexibility, and resistance to heat and pressure. Several sectors including automotive, construction, textile, electrical & electronic, agricultural, and packaging, use plastic additives for multiple purposes.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Plastic Additives Market Size in 2023: | USD 57.48 billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 4.5% |
| 2032 Value Projection: | USD 85.6 Billion |
| Historical Data for: | 2018 to 2023 |
| No. of Pages: | 200 |
| Tables, Charts & Figures: | 279 |
| Segments covered: | Type, Plastic Type, End use and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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New rules and restrictions on the consumption of petroleum-based polymers will have positive impact on the plastic additives market. The U.S. Environmental Protection Agency (EPA) states that the packaging materials like plastics, coatings, papers, etc. need to be deemed safe for food packaging usage. Numerous scientific studies have discovered limitations on various plastic additives, including specific kinds of plasticizers and flame retardants. Due to various laws, it is predicted that the market will gradually phase out these flame retardants.
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Plastic Additives Market Scope
