Medical Coatings Market Value Share, Supply Demand, share and Value Asia Pacific Plastic Additives Market size | Page 4

Report
Description
Report Description
Request Free Report Sample@ http://www.futuremarketinsights.com/reports/sample/repap-79
The global plastic additives market is forecasted to reach US $ 50 billion by 2020 and is
projected to grow at a CAGR of 3.8% during the forecast period. India and China are the
lucrative markets due to presence of low-cost labor and raw materials. Plasticizers is the
largest revenue generating segment of the plastic additives market valued at US $ 21.4
billion, followed by flame retardants with a CAGR of 5.4% projected for 2013–2020. The antimicrobial segment will also grow at a moderate rate due to increase in demand from the
healthcare industry. The plastic additive industry is energy- and capital-intensive, wherein
gas and oil are the major raw materials. It is easy to use and has numerous applications that
make it an adaptable industry. Asia Pacific is the leader globally in terms of value and volume
and production and consumption, and the key drivers being the surge in its automobile and
infrastructure industry. Additionally, the Chinese and Indian automobile industries are
expected to grow at 8% to 14% respectively during the forecast period 2014 - 2020.
Plastics surfaced as an alternate solution to replace the use of metals in numerous industrial
and non-industrial applications su ch as automotive manufacturing, mechanical fasteners,
medical equipment, and commercial furniture and so on. Plastic additive producers are
currently focusing on developing economies such as Asia Pacific. The region accounted for
around 40% revenue of the plastic additives market as of 2013, which is projected to
increase to 60% by 2020. Increasing awareness regarding conservation of depleting natural
resources is expediting growth of the plastic additives market in Asia Pacific.