The global plastics additives market was valued at $41.4 billion in 2013. According to a recent report, it is expected to grow at a compound annual growth rate of 4.9 percent to generate revenues of $57.8 billion by 2020.
The market research included companies such as BASF, Exxon Mobil, Bayer Ag., Zeon Chemicals, Dow Plastic Additives and others. It looked at the growth potential for chemicals added to polymer/plastic processing and production, including plasticizers, flame retardants, UV stabilizers, antioxidants and others.
The report notes that government intervention could both bolster and hamper growth. On the one hand, increased environmental awareness has led to a government-driven push to promote non-toxic plastic additives, creating growth in the plastic additives market. On the other hand, increased government regulations related to phthalates based plasticizers could further hamstring the commercialization of these additives. Phthalates are already banned in the U.S. in toys and other children’s products.
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