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The compound annual growth rate of the global plastic additives market will reach 5.6% by 2027

 Last Update: 2022-09-26
 Source: Internet
 Author: User

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On March 14, according to data from SpecialChem, the global plastic additives market is expected to grow from $45.

Growing demand from the packaging industry is driving the growth of the plastic additives market

On the basis of application, the market is segmented into packaging, consumer goods, construction, automotive, flame retardants, and others

The packaging segment holds the largest market share during the forecast period, with polymers widely used in the packaging and decoration of end-user items in the packaging industry

Certain polymer properties such as light weight, availability of various colors, low reactivity, chemical properties, moisture resistance and flame retardancy are driving the increasing use of polymers in the packaging business

Using the proper plastic additives helps increase longevity, appearance, thermal protection, clarity, haze reduction, and better mechanical quality, all of which are key factors in packaging

Packaging is widely used in industrial and residential use
.
Changes in life>
.
The increasing use of plastics in everyday applications is also driving the plastic additives market
.

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