Global Packaging Additives MarketAugust 23, 2021 ⚊ 4 Min read ⚊ Views 224 ⚊ FINANCE
Global Packaging Additives Market was valued at US$ XX Mn in 2019 and is expected to reach US$ XX Mn by 2027, at a CAGR of XX % during a forecast period.
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The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding packaging additives market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focus on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies and regional presence. The report also provide PEST analysis, PORTER’s analysis, SWOT analysis to address question of shareholders to prioritizing the efforts and investment in near future to emerging segment in packaging additives market.
Polymers are widely utilized in the packaging sector, with polyolefins being the largest volume polymer used, globally. Numerous additives are used in packaging to provide processing and manufacturing performance enhancements while others permit materials to possess a mixture of improved properties. In addition, it is critical for key players in this industry to be aware of the regulations.
The global market is driven by surge in demand from end-user industries, increase in economic growth, rise in disposable income, and hectic lifestyles of individuals. Additionally, rapid urbanization and growing population supplement the market growth. Nevertheless, volatile raw material prices and stringent government regulations pertaining to the plastic additives industry hamper this growth. Moreover, disposal of plastic waste is the key challenge to be faced by packaging additives manufacturers in the forecast period. Growth of new functional additives are likely to be the lucrative opportunity for market growth.
Based on type, Antifog agents segment holds the largest market in the forecast period and also expected to be dominant throughout the foreseen period. Rising demand for antifog agent’s additive films from the food packaging and agricultural sectors and the increasing demand for packed food items are major factors influencing the growth of this market. Antifog agents are usually available in the form of creams, and spray solutions and gels and wet wipes preferably coatings are applied during the time of the manufacturing processes itself. Anti-fog additives can be added to plastics from where they can move out from the inner side of the plastic.
Based on Application, the global packaging additives market is segregated into five categories that are food, beverages, pharmaceuticals & healthcare, cosmetics & personal care, and others. Among those, food & beverage accounts for more than 70% of the application in the packaging additives market.
Geographically, Asia Pacific is a develop market, followed by North America. The demand in the area is high owing to the presence and development of end-use for the product. The region accounted for over 30% of the global market in 2017. Asia Pacific is a potential market due to the presences of developing countries such as China and India. Modern lifestyle and food preference in these countries is expected to boost the market in the region. The Indian Pharmaceutical & Healthcare sector received a huge boost from government initiative, to transform urban India (100 Smart Cities Mission). Indian Pharmaceutical & Healthcare industries accounts for about 11% of the country’s GDP. These are the key factors expected to drive highest growth rate during the forecast period in Asia-Pacific region.
The Scope of Global Packaging Additives Market: Inquire before buying
Global Packaging Additives Market, by Type:
• UV Stabilizers
• Antifog agents
• Clarifying Agent
Global Packaging Additives Market, by Application:
• Pharmaceutical & Healthcare
• Cosmetic & Personal Care
Global Packaging Additives Market, by Region:
• North America
• Middle East & Africa
• Asia Pacific
• South America
Key Players Operating In Global Packaging Additives Market:
• BASF SE
• Songwon Industrial Co. Ltd
• Cytec Solvay Group
• Adeka Corporation
• Altana AG
• Du Pont De
• Colormatrix Group
• Flint Group
• Lubrizol Corporation
• PPG Industries Inc.
• Sun Chemical Corporation
• Huber Group
• Wacker Chemie AG
• Valspar Corporation
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