Asia Pacific Plastic Additives Market Trends and Competitive Landscape Outlook to 2020
Future Market Insights has announced the addition of the “Plastic Additives Market: Asia Pacific Industry Analysis and Opportunity Assessment 2014-2020" report to their offering.
Future Market Insights has announced the addition of the “Plastic Additives Market: Asia Pacific Industry Analysis and Opportunity Assessment 2014-2020" report to their offering.
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The global plastic additives market is forecasted <strong>to</strong> reach US $ 50 billion by <strong>2020</strong> <strong>and</strong> is<br />
projected <strong>to</strong> grow at a CAGR of 3.8% during the forecast period. India <strong>and</strong> China are the<br />
lucrative markets due <strong>to</strong> presence of low-cost labor <strong>and</strong> raw materials. <strong>Plastic</strong>izers is the<br />
largest revenue generating segment of the plastic additives market valued at US $ 21.4<br />
billion, followed by flame retardants with a CAGR of 5.4% projected for 2013–<strong>2020</strong>. The antimicrobial<br />
segment will also grow at a moderate rate due <strong>to</strong> increase in dem<strong>and</strong> from the<br />
healthcare industry. The plastic additive industry is energy- <strong>and</strong> capital-intensive, wherein<br />
gas <strong>and</strong> oil are the major raw materials. It is easy <strong>to</strong> use <strong>and</strong> has numerous applications that<br />
make it an adaptable industry. <strong>Asia</strong> <strong>Pacific</strong> is the leader globally in terms of value <strong>and</strong> volume<br />
<strong>and</strong> production <strong>and</strong> consumption, <strong>and</strong> the key drivers being the surge in its au<strong>to</strong>mobile <strong>and</strong><br />
infrastructure industry. Additionally, the Chinese <strong>and</strong> Indian au<strong>to</strong>mobile industries are<br />
expected <strong>to</strong> grow at 8% <strong>to</strong> 14% respectively during the forecast period 2014 - <strong>2020</strong>.<br />
<strong>Plastic</strong>s surfaced as an alternate solution <strong>to</strong> replace the use of metals in numerous industrial<br />
<strong>and</strong> non-industrial applications such as au<strong>to</strong>motive manufacturing, mechanical fasteners,<br />
medical equipment, <strong>and</strong> commercial furniture <strong>and</strong> so on. <strong>Plastic</strong> additive producers are<br />
currently focusing on developing economies such as <strong>Asia</strong> <strong>Pacific</strong>. The region accounted for<br />
around 40% revenue of the plastic additives market as of 2013, which is projected <strong>to</strong><br />
increase <strong>to</strong> 60% by <strong>2020</strong>. Increasing awareness regarding conservation of depleting natural<br />
resources is expediting growth of the plastic additives market in <strong>Asia</strong> <strong>Pacific</strong>.
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