Plastic additives in a future pace.
The plastic additive market is projected to reach $ 56.7 billion by 2023. Growth in the market can be attributed to the robust growth of the industrial sector, rising production capacities of automotive and consumer good companies, and the increasing demand for high-efficiency polymer products in various downstream industries. As growing technological advancements are shifting government focus towards the adoption of biodegradable plastics from traditional polymers, consumption of bio-based plasticizers, stabilizers and other plastic additives is expected to increase at a robust pace in the coming years. Moreover, increasing application of lightweight, highly resistant and high-performance polymers in auto parts and construction products development is anticipated to aid the growth of the plastic additive market, globally. Major players BASF SE, Evonik Industries AG, DowDuPont Inc., Akzo Nobel N.V., Mitsubishi Chemical Holding Corporation, Clariant AG, Lanxess AG, Kaneka Corpor...