Product Code: 61467
The performance additives market is expected to grow at a CAGR of above 8% during the forecast period of 2019-2024. The major factors driving the growth of market studied are the replacement of conventional materials by plastics in several applications, and increasing demand for plastic in emerging nations. On the flipside, the stringent governmental regulations on plastic usage, and depleting natural resources, such as oil & gas are some of the factors hampering the growth of the studied market.
- Plastic additives dominated the market in 2018 and is likely to grow during the forecast period with the increasing application of plastic in various end-user industries, such as construction, automotive, consumer goods, and packaging.
- The research to develop bio-based additives is likely to provide opportunities for the studied market during the forecast period.
- Asia-Pacific dominated the market across the globe, owing to the high demand for plastics, paints & coatings, rubber, leather, automotive, packaging, and adhesives & sealants from numerous end-user industries in the region.
Key Market Trends
Plastic Additives Segment to Dominate the Market Demand
- Plastic additives segment dominated the performance additives market. Plastic additives find extensive application in lubricants, plasticizers, stabilizers, flame retardants, anti-fog additives, pigment wetting agents, and others.
- Plastic additive demand for such applications is expected to increase owing to their growing demand from industries, such as paints & coatings, adhesives & sealants, plastic, packaging, and automotive.
- Asia-Pacific and North America regions have been witnessing strong growth in the residential construction. Besides, Asia-Pacific and Middle East & Africa are experiencing huge domestic as well as foreign investments for setting up industrial units, hospitals, malls, multiplexes, hospitality industry, and IT sector.
- In Asia-Pacific, countries, such as India, Indonesia, Thailand, and Malaysia have been witnessing increase in investments and production in the automotive industry. Besides, regions like North America and Europe, are investing heavily on developing lightweight, hybrid, and greener vehicles.
- Moreover, packaging industry is also growing at a significant rate owing to the growing demand from industries, such as food & beverages, and consumer goods. E-retail has further driven the growth of packaging industry in the recent years, and the trend is likely to continue over the coming years
- Hence, all such favorable trends are expected to increase the demand for paints & coatings, lubricants, adhesives & sealants, etc. which is further projected to create demand for additives during the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region dominated the global market share in 2018. Rising production in industries, such as paints & coatings, plastics, inks, automotive, and electronics, and growing construction activities in the region, have been increasing the consumption of performance additives in the region during the forecast period.
- With growing investments into the residential and commercial construction in the countries, such as India, China, Philippines, Vietnam, and Indonesia, the demand for paints, coatings, plastic, adhesives & sealants is expected to increase in the coming years.
- China has planned numerous airport construction projects, which are currently either in the planning or development phase. Besides, Indian government has planned to construct 100 airports by 2032.
- Indian government has also planned investment target of USD 120.5 billion for developing 27 industrial clusters is expected to boost commercial construction in the country. Besides, residential construction is also increasing in countries, such as India, Indonesia, Vietnam, and Singapore.
- Automotive production is also increasing in the countries, such as India, Thailand, Vietnam, and Indonesia. Besides, China, the world's largest automotive producer, is majorly focusing on increasing the production and sale of electric vehicles in the country. For this purpose, the country has planned to increase the production of electric vehicles (EVs) to 2 million a year by 2020, and 7 million a year by 2025.
- In addition, India is witnessing investments in the automotive industry. For instance, in 2018, Hyundai planned investment of USD 1 billion in India by 2020. SAIC Motor has also announced to invest USD 500 million in India by 2020.
- Online retail shopping is increasing at a higher rate with rising internet technologies and web applications, which has largely supported the growth of the packaging industry in the region. Moreover, the demand for food & beverages, and consumer goods are growing at a high rate due to the increasing income levels, urbanization, and consumers inclining toward technology, hence fueling the demand for packaging industry in the region.
- Hence, such trends in the end-user industries are likely to drive the demand for performance additives in the region during the forecast period.
The performance additives market is a consolidated market, where few major players hold significant share of the market demand. Some of the major players in the market include BASF SE, Dow DuPont., AkzoNobel N.V., Arkema SA, and Honeywell International Inc., amongst others.
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Table of Contents
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Drivers
- 4.1.1 Replacement of Conventional Materials by Plastics in Several Applications
- 4.1.2 Increasing Demand for Plastic in Emerging Nations
- 4.2 Restraints
- 4.2.1 Stringent Governmental Regulations on Plastic Usage
- 4.2.2 Depleting Natural Resources, such as Oil and Gas
- 4.3 Industry Value-Chain Analysis
- 4.4 Porters 5 Force Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5 MARKET SEGMENTATION
- 5.1 Type
- 5.1.1 Plastic Additives
- 126.96.36.199 Lubricants
- 188.8.131.52 Processing Aids (Fluoropolymer-based)
- 184.108.40.206 Flow Improvers
- 220.127.116.11 Slip Additives
- 18.104.22.168 Antistatic Additives
- 22.214.171.124 Pigment Wetting Agents
- 126.96.36.199 Filler Dispersants
- 188.8.131.52 Antifog Additives
- 184.108.40.206 Plasticizers
- 220.127.116.11 Stabilizers
- 18.104.22.168 Flame Retardants
- 22.214.171.124 Impact Modifiers
- 5.1.2 Rubber Additives
- 126.96.36.199 Accelerators
- 188.8.131.52 Antidegradants
- 184.108.40.206 Blowing Agents and Adhesive Agents
- 5.1.3 Paints and Coatings Additives
- 220.127.116.11 Biocides
- 18.104.22.168 Dispersants and Wetting Agents
- 22.214.171.124 Defoamers and Dearaters
- 126.96.36.199 Rheology Modifiers
- 188.8.131.52 Surface Modifiers
- 184.108.40.206 Stabilizers
- 220.127.116.11 Flow and Leveling Additives
- 18.104.22.168 Other Paints and Coatings Additives
- 5.1.4 Fuel Additives
- 22.214.171.124 Deposit Control
- 126.96.36.199 Cetane Improvers
- 188.8.131.52 Lubricants
- 184.108.40.206 Antioxidants
- 220.127.116.11 Anticorrosion
- 18.104.22.168 Fuel Dyes
- 22.214.171.124 Cold Flow Improvers
- 126.96.36.199 Antiknock Agents
- 188.8.131.52 Other Fuel Additives
- 5.1.5 Ink Additives
- 184.108.40.206 Rheology Modifier
- 220.127.116.11 Slip/Rub Material
- 18.104.22.168 Defoamers
- 22.214.171.124 Dispersants
- 126.96.36.199 Antioxidant
- 188.8.131.52 Chelating Agents
- 184.108.40.206 Other Ink Additives (Wetting Agents, Driers, and PH Modifiers)
- 5.1.6 Leather Additives
- 220.127.116.11 Finishing Agents
- 18.104.22.168 Fat Liquors
- 22.214.171.124 Syntans
- 126.96.36.199 Other Leather Additives (Auxiliaries/Feel/Modifiers)
- 5.1.7 Lubricant Additives
- 188.8.131.52 Dispersants and Emulsifiers
- 184.108.40.206 Viscosity Index Improvers
- 220.127.116.11 Detergents
- 18.104.22.168 Corrosion Inhibitors
- 22.214.171.124 Oxidation Inhibitors
- 126.96.36.199 Extreme-pressure Additives
- 188.8.131.52 Friction Modifiers
- 184.108.40.206 Other Lubricant Additives
- 5.1.8 Adhesives and Sealants Additives
- 220.127.116.11 Antioxidants
- 18.104.22.168 Light Stabilizers
- 22.214.171.124 Tackifier
- 126.96.36.199 Other Adhesives and Sealants Additives
- 5.2 Geography
- 5.2.1 Asia-Pacific
- 188.8.131.52 China
- 184.108.40.206 India
- 220.127.116.11 Japan
- 18.104.22.168 South Korea
- 22.214.171.124 Rest of Asia-Pacific
- 5.2.2 North America
- 126.96.36.199 United States
- 188.8.131.52 Canada
- 184.108.40.206 Mexico
- 5.2.3 Europe
- 220.127.116.11 Germany
- 18.104.22.168 United Kingdom
- 22.214.171.124 France
- 126.96.36.199 Italy
- 188.8.131.52 Rest of Europe
- 5.2.4 South America
- 184.108.40.206 Brazil
- 220.127.116.11 Argentina
- 18.104.22.168 Rest of South America
- 5.2.5 Middle East & Africa
- 22.214.171.124 Saudi Arabia
- 126.96.36.199 South Africa
- 188.8.131.52 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis**
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles
- 6.4.1 Adeka Corporation
- 6.4.2 AkzoNobel NV
- 6.4.3 Arkema SA
- 6.4.4 Asahi Glass Co. Ltd
- 6.4.5 Ashland Inc.
- 6.4.6 Baerlocher GmbH
- 6.4.7 BASF SE
- 6.4.8 Clariant AG
- 6.4.9 Dow
- 6.4.10 Eastman Chemical Company
- 6.4.11 Evonik Industries AG
- 6.4.12 ExxonMobil Corporation
- 6.4.13 Mitsui Chemicals
- 6.4.14 Hexion Inc.
- 6.4.15 Performance Additives
- 6.4.16 Lubrizol Corporation (Berkshire Hathaway)
- 6.4.17 Huntsman Corporation
- 6.4.18 Cytec Solvay
- 6.4.19 Lanxess AG
- 6.4.20 Honeywell International Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Research to Develop Bio-based Additives