Bright outlook for manufacturers of plastic additives
According to a recent study by market researcher Ceresana, global demand for plastic additives was about 31.5 million tons in 2016, more than half of which was processed in the Asia-Pacific region. North America ranks second in global demand. Plastics are increasingly replacing other materials such as wood or metal. As a result, the demand for plastic additives will continue to increase: Ceresana expects to reach about $60 billion in revenue by 2024, based on demand and price developments. Ceresana's latest study looks in detail at the development of specific plastic additives in 16 of the most important countries.
Plastics are increasingly becoming the first choice for the construction industry. The construction industry must be persuasive on many fronts, such as efficiency, quality, environment and fire protection. Therefore, the largest number of plastic additives around the world are utilized in this application area. Plastic additives used in packaging processing rank second. Plastic packaging is becoming more and more popular because it is lightweight, easy to handle, microwavable and visually appealing. Additions can be easily identified, and the product stays fresh and strongly supported for a long time. Ceresana also predicts an increasing demand for plastic additives in this application area.
fillers account for the highest demand
Fillers are the most commonly used additive type for plastic processing. Plasticizers and pigments account for the second and third. More than 16 million tons of plastic used in 2016: fillers can increase the amount of material mixture without changing the main characteristics. The production of high-quality plastics is also on the rise to meet the exact needs of individual consumers. These highly filled plastics contain up to 85% filler, in many cases have excellent mechanical properties and are even more cost effective than conventional materials.
Plasticizers are substances added to plastics to improve elasticity, softness, and flexibility in processing and use. PVC manufacturers account for the highest proportion of global demand for plasticizers. For example, they are used to produce profiles for Windows or doors. Since PVC is a brittle, hard and white material, the largest number of additives worldwide are applied to this plastic type to suit different applications.