Lack of adequate power infrastructure and increasing demand for reliable electricity delivery are the major driving forces of this market. 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 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. 

 

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 US 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, Kaneka and many more. 

 

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.

 

As MRC wrote before, this July, French specialty chemicals firm Arkema and Omya, a Switzerland-based global provider and distributor of specialty chemicals, entered into an exclusive pan-European distribution agreement, under which Omya will market Arkema's plastic additives range for various polymer markets (impact modifier and processing aid solutions): Plastistrength, Durastrength, Clearstrength and Biostrength across Europe, except Spain and Portugal.