The global plastic additives market size is projected to reach USD 74.61 billion by 2027, exhibiting a CAGR of 6.2% during the forecast period. Escalating demand for personal protective equipment (PPE) amid the COVID-19 pandemic is expected to propel the growth of this market, states Fortune Business Insights™ in its report, titled “Plastic Additives Market Size, Share & Industry Analysis, By Type (Plasticizers, Flame Retardants, Stabilizers, Impact Modifiers, Others), By End-Use (Packaging, Construction, Automotive, Consumer Goods, Others), and Regional Forecast, 2020-2027”. In March 2020, the World Health Organization (WHO) estimated that 89 million medical masks, 76 million disposable gloves, and 1.6 million goggles will be required each month to fight the pandemic. The need for PPE has only grown since March, with coronavirus cases surging in most countries. Plastic additives are playing a critical role in the manufacturing of PPE for frontline healthcare workers as these materials are easy to produce, are resistant to chemicals and toxic substances, and effectively prevent the transmission of the infection between health workers and patients. The soaring demand for this equipment has triggered innovation not only in large companies but also among small, emerging players. For example, in April 2020, the team researchers from India’s IIT Kanpur and industry partners designed the Polyethylene-based Improvised Protective Equipment under Scarcity (PIPES) made from the non-porous polyethylene material. Thus, the coronavirus is likely to create unprecedented opportunities for players in this plastic industry.
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The global plastic additives market size is projected to reach USD 74.61 billion by 2027, exhibiting a CAGR of 6.2% during the forecast period.
Escalating demand for personal protective equipment (PPE) amid the COVID-19 pandemic is expected to propel the growth of this market, states Fortune Business Insights™ in its report, titled “Plastic Additives Market Size, Share & Industry Analysis, By Type (Plasticizers, Flame Retardants, Stabilizers, Impact Modifiers, Others), By End-Use (Packaging, Construction, Automotive, Consumer Goods, Others), and Regional Forecast, 2020-2027”.
In March 2020, the World Health Organization (WHO) estimated that 89 million medical masks, 76 million disposable gloves, and 1.6 million goggles will be required each month to fight the pandemic.
As per the report, the global market value stood at USD 46.59 billion in 2019.
The report also features the following:Holistic assessment of the factors driving and restraining the market;Comprehensive analysis of all possible market segments;Careful evaluation of the key market players and their strategies; andDetailed research into the regional dynamics shaping the market growth.Restraining FactorStaggering Plastic Pollution Levels Worldwide May Limit Market GrowthThe plastic additives market growth is likely to be inhibited owing the uncontrollable level of plastic pollution facing the world currently.
According to the UN Environment Program (UNEP), at present, nearly 300 million tons of plastic waste is generated every year.
The global plastic additives market size is expected to value at USD 62.50 billion by 2022.
Advantages of the plastic additives such as resistance to microbial activities, antioxidants, ultra-violet stabilizer, plasticizers, and impact modifiers, which are critical for compound formulations in order to enhance chemical and physical properties, are expected to foster market growth over the forecast period.Globally, the plastic additives market is predicted to grow at CAGR of 4.5% in forecast period, providing numerous opportunities for market players to invest in research and development of the market.
Additionally, increasing industrial activities, growing manufacturing output and strong economic growth in the Asia Pacific region is expected to expand market reach of the plastic additives industry over the forecast period.Download Sample Report @ https://www.millioninsights.com/industry-reports/plastic-additives-market/request-sampleFavorable laws and regulation by governmental and international authorities such as EC (Beaches European Commission) and amendments in the Restriction of Hazardous Substances (RoHS) that monitors use of plasticizers, flame retardant and other additives are anticipated fuel market growth in the upcoming years.
However, excessive use of plasticizers, flame retardant and other additives causes adverse effects on human health and the environment condition, thereby restraining market growth to a certain extent.Yet, the recent technological advancement and introduction of new methodologies for the production of the plasticizers, flame retardant and other additives are anticipated to boost market demand in the upcoming years.
Changing market dynamics regarding availability of raw material in the Middle East region are further negatively affect market growth, in the recent years.Additionally, easy availability of the alternative products such as polycarbonate (PC) and poly-acrylic (PMMA) coupled with lowered process are further affecting market performance of the plastic additives industry.
Although, increasing demand from electrical and electronic manufacturing industry is expected to sustain market the growth of the market over the forecast period.The plastic additives market is broadly categorized into four major types based on their functionality such as property extenders, modifiers, property stabilizers and processing aids.
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It presents a comparative detailed analysis of all the regional and major player segments, offering readers a better knowledge of areas in which they can place their existing resources and gauging the priority of a particular region in order to boost their standing in the global market.
The numerical data is backed up by statistical tools such as SWOT analysis, BCG matrix, SCOT analysis, PESTLE analysis and so on.
The statistics are represented in graphical format for a clear understanding on facts and figures.
The generated report is firmly based on primary research, interviews with top executives, news sources and information insiders.
Region-wise Analysis Global Plastic Additives Market covers: • North America• Europe• China• Japan• Southeast Asia• India The Report covers in-depth analysis as follows: • Chapter 1 Plastic Additives Market Overview• Chapter 2 Global Economic Impact on Plastic Additives Industry• Chapter 3 Global Plastic Additives Market Competition by Manufacturers• Chapter 4 Global Plastic Additives Production, Revenue (Value) by Region (2013-2018)• Chapter 5 Global Plastic Additives Supply (Production), Consumption, Export, Import by Regions (2013-2018)• Chapter 6 Global Plastic Additives Production, Revenue (Value), Price Trend by Type• Chapter 7 Global Plastic Additives Market Analysis by Application• Chapter 8 Global Plastic Additives Manufacturers Analysis• Chapter 9 Plastic Additives Manufacturing Cost Analysis• Chapter 10 Industrial Chain, Sourcing Strategy and Downstream Buyers• Chapter 11 Marketing Strategy Analysis, Distributors/Traders• Chapter 12 Market Effect Factors Analysis• Chapter 13 Global Plastic Additives Market Forecast (2018-2023) Buy this report@ https://www.upmarketresearch.com/buy/Global-Plastic-Additives-Industry-Market-Analysis-Forecast-2018-2023“Global Plastic Additives Market Industry Analysis and Forecast 2018-2023” report helps the clients to take business decisions and to understand strategies of major players in the industry.
