“Growing use in packaging and household goods industries is a prime factor for the growth of the Performance Additives Market”
The global performance additives market is projected to reach USD 110.35 billion by 2031, at a CAGR of 8.0%, in terms of value.
This growth can be attributed in parts to the rising investments in new manufacturing plants for packaging in various countries. This growth also stems from a rise in demand for rigid and flexible packaging in the food and beverage packaging industries.
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“Plastic segment is the largest type segment of the performance additives market”
Plastic additives are ingredients that are added in polymer to improve its characteristics, such as strength, durability, and heat sensitivity. Plastic additives are materials that are added to enhance the processability, performance, or appearance of the polymer. Plastic additives have found widespread applications in building & construction, packaging, transportation, textiles, electronics, and other sectors, such as healthcare, consumer goods, and telecommunication. The demand for plastic additives is estimated to grow on account of the increasing consumption of plastic and the rising disposable income of consumers.
“Rising demand in Asia-Pacific drives the performance additives market“
The Asia-Pacific region is the largest and the fastest-growing performance additives market, in terms of value and volume. High economic growth rate, growing manufacturing industries, cheap labor, increasing foreign investments, and increase in the applications of performance additives across the packaging, automotive, industrial, and construction industries are some of the major factors expected to fuel the growth of the market in this region. Countries such as China, South Korea, and Japan are expected to drive the growth of the Asia-Pacific performance additives market.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
The breakdown of primary interviews is given below.
• By Company Type: Tier 1 – 57%, Tier 2 – 29%, and Tier 3 – 14%
• By Designation: C level – 43%, Director level – 21%, and Others – 36%
• By Region: North America – 9%, Europe – 8%, Asia-Pacific – 50%, Middle East & Africa – 8%, and South America – 25%
The key companies profiled in this report include BASF SE (Germany), AkzoNobel N.V. (Netherlands), Solvay S.A. (Belgium), Evonik Industries AG (Germany), Lanxess (Germany), Arkema SA (France), and Huntsman International LLC (U.S.), Altana AG (Germany), Clariant (Switzerland), and The Dow Chemical Company (U.S.).
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The market is segmented based on type, end-use industry, and region. This report covers the performance additives market, in terms of value and volume, and forecasts its market size till 2031. The report also provides company profiles and competitive strategies adopted by the key players in the global performance additives market.
Reasons to Buy the Report
The report will help the market leaders/new entrants in this market in the following ways:
This report segments the performance additives market comprehensively and provides the closest approximations of revenues for the overall market and the subsegments across different verticals and regions.
It will help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
It will help stakeholders understand competitors and gain more insights to better their positions in the business. The competitive landscape section includes new product developments, partnerships, and mergers & acquisitions.
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
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