Rising cost of metal equipment due to depleting mineral ore resources is increasing the need for plastic. Plastics are being widely utilized in numerous industry verticals due to its low cost and high metal properties.
Portland, Oregon (PRWEB UK) 7 May 2014
Allied Market Research published a new report, titled "Plastic Additives Market (Functions, Types, Applications and Geography) - Size, Share, Global Trends, Analysis, Opportunities, Growth, Intelligence and Forecast, 2012-2020".
As per the observation made in the report, global plastic additives market in terms of volume stood at 12.6 million tons in the year 2013; further, it would grow to reach 17.1 million tons by 2020 with a CAGR of 4.4% during 2013 to 2020.
Rising cost of metal equipment due to depleting mineral ore resources is increasing the need for plastic. Plastics are being widely utilized in numerous industry verticals due to its low cost and high metal properties. Hence, there also rises a need to develop plastic additives that would enrich the properties of a plastic. Therefore, many additive manufacturing firms try to develop chemicals used in construction and automobile equipment.
To view the complete report, visit the website at http://www.alliedmarketresearch.com/plastic-additives-market
Factors such as strict government regulations, pending legal suits, patent imitation suit, etc., are impeding the growth of plastic additive markets.
The report segments the global plastic additives market into Plasticizers, Impact Modifiers,Flame Retardants, Anti-microbial, UV Stabilizers and Antioxidants. In 2013, plasticizers market stood at $21.4 billion and it is analyzed to generate maximum revenues during the estimated period. Hence, it would lead the market both in terms of revenue and share. Such an impressive growth of plasticizers can be credited to its multi-functionality. Flame retardant market is projected to grow the fastest, registering a CAGR of 5.4% during 2013-2020. Further, microbial market would grow at a moderate pace due to rise in demand of disposable material used in healthcare market.
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In terms of geographical analysis, Asia-Pacific generated maximum revenue among other geographies due to excessive raw materials that are low in cost and economical work force. Further, under-developed nations are also garnering importance from global players due less expensive workforce. Hence, Asia Pacific along with RoW is expected to lead the plastic additive market, with a share of 60% by 2020.
View all materials and chemicals market report at http://www.alliedmarketresearch.com/materials-&-chemicals-market-report
The report also provides comprehensive data on important firms operating in plastic additive markets.
They are listed below:
Exxon Mobil Corporation
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