What's the market peak of the Plastic Additives market?

The market is subject to witness a substantial growth due to the increasing demand for various industrial applications such as property modifiers, extenders, stabilizers and processing aids. Advantages of the plastic additives such as resistance to microbial activities, antioxidants, ultra-violet stabilizer, plasticizers, and impact modifiers, which are critical for compound formulations in order to enhance chemical and physical properties, are expected to foster market growth over the forecast period.

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Globally, the plastic additives market is predicted to grow at CAGR of 4.5% in forecast period, providing numerous opportunities for market players to invest in research and development of the market. Additionally, increasing industrial activities, growing manufacturing output and strong economic growth in the Asia Pacific region is expected to expand market reach of the plastic additives industry over the forecast period.

Favorable laws and regulation by governmental and international authorities such as EC (Beaches European Commission) and amendments in the Restriction of Hazardous Substances (RoHS) that monitors use of plasticizers, flame retardant and other additives are anticipated fuel market growth in the upcoming years. However, excessive use of plasticizers, flame retardant and other additives causes adverse effects on human health and the environment condition, thereby restraining market growth to a certain extent.

Yet, the recent technological advancement and introduction of new methodologies for the production of the plasticizers, flame retardant and other additives are anticipated to boost market demand in the upcoming years. Variation in the price of raw materials along with lack of availability are expected to limit market progress substantially. Changing market dynamics regarding availability of raw material in the Middle East region are further negatively affect market growth, in the recent years.

Additionally, easy availability of the alternative products such as polycarbonate (PC) and poly-acrylic (PMMA) coupled with lowered process are further affecting market performance of the plastic additives industry. Although, increasing demand from electrical and electronic manufacturing industry is expected to sustain market the growth of the market over the forecast period.

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