2019 the global plastic additives market will rise to $45.5 billion
According to Markets and Markets, the compound annual growth rate for the global plastics additives market is expected to reach 5% in 2014-2019, reaching $ 45.5 billion in 2019. In 2013, Asia-Pacific leading plastic additives market, the market share of more than 40%. For the country, by 2019 China's consumption of plastic additives in the world will be the first. The United States is currently the world's largest consumer of plastic additives, but in the near future is expected to be beyond China.
Packaging, construction, consumer goods, automotive and other fields of development will promote the market demand for plastic additives. Rising GDP, accelerating the pace of industrialization, plastic raw materials, consumer goods and packaging products will continue to increase the consumption of plastic additives market, the main driving force for growth. The future growth of the plastics additives market is mainly dependent on developing economies such as the Asia-Pacific, South America and Eastern Europe.
Plasticizers are the largest market share in plastic chemicals in 2013 and are expected to dominate the global market by 2019, mainly due to the growth in DOP demand. DOP low cost, suitable for plasticization performance, in many end-use applications are popular, and its demand is rising trend. The growth rate of flame retardants is expected to be the highest during 2014-2019. Increased demand for consumer products and construction applications, particularly in Asia, will continue to drive the market for flame retardants.