The report Packaging Additives Market by Type (Antioxidants, UV Stabilizers, Antifog agents, Clarifying Agent and Others), by Application (Food, Beverages, Pharmaceutical & Healthcare, Cosmetic & Personal Care and Others) and by region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America) is expected to reach US$ XX Mn by 2027, at a CAGR of XX % during a forecast period.
Several additives are used in packaging to offer processing and production performance enhancements while others allow materials to have an assortment of enhanced properties. Packaging Additives are substances that are added in materials, such as plastic, paints, rubber, and others to develop their performance and to strengthen their physical, mechanical, & barrier properties. Packaging Additives offer strength, durability, quality, and other key properties to materials. They are used to progress performance and durability of materials used in Cosmetic & Personal Care, rubber, paint, and ink industries.
Antifog agents sector are rapidly increasing during the forecast period.
Antifog agents dominated the global market by acquiring almost 35% share of the global market at a dynamic CAGR of in 2017. Antifog agents are materials added during the manufacturing to enhance the processability, performance, and appearance of the polymer. As a main additive, Antifog agents is widely used in Food, Paints & Coatings, healthcare, etc. Food sector is the major downstream of Antifog agents, taking 30% of the world Antifog agents consumption in 2017, while Pharmaceutical & Healthcare sector taking for 18% and 14%, respectively.
The Packaging Additives Market in Asia Pacific region is expected to hold the largest share during the forecast period.
Geographically, APAC is a leading market for the Packaging Additives on accounts of its high demand in Food industry and various Cosmetic & Personal Care sector. The growth in disposable income has transformed the lifestyle preferences of individuals, which is growing the sales of consumer goods such as Cosmetic & Personal Care, and Beverages in the Asia Pacific region, which is positively impacting the adoption of antifog agents in the market. Antioxidants are extensively used in the plastics used to manufacture lightweight Cosmetic & Personal Care parts. The pharmaceutical application segment is likely to be the second highest growing segment of the global packaging additives market during the foreseen period in APAC. The packaging market is rising due to the growth in the Pharmaceutical & Healthcare activities in the developing economies such as APAC and the Middle East.
Key players operating in the global packaging additives market are BASF SE, Songwon Industrial Co. Ltd, Cytec Solvay Group, Clariant, Addivant, Adeka Corporation, AkzoNobel, Altana AG, Du Pont De, and Amcor. Key players and manufactures are focusing on entering the new market by producing and launching technically advance and cost-effective products in the market. Production capacity expansion, brand portfolio expansion, mergers, collaborations, joint ventures and acquisitions of innovative businesses is the key trend to foot hold and penetrate market.
Maximize market research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about global packaging additives market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for taking in product strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global packaging additives market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global packaging additives market positioning of competitors.
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