Technavio, a technology research and advisory company announced in their global plastic additives market report the leading vendors of the market.
Plastic additives are used to improve the chemical, physical, and mechanical properties and the performance of the plastic material that they are added to. They can be used in different ways in the plastic industry, in particular all types of polymer compositions. They are an essential factor in molds or masterbatches.
The top vendors held a majority of the market share in 2016. These key vendors are laying emphasis on technological advances by proposing innovative and high-quality products in order to consolidate their market shares.
“The prominent vendors operating in the market offer a comprehensive portfolio of plastic additives having a wide range of specialized and standard applications to gain a competitive edge over others. Thus, these strategies are likely to intensify competition among key players in the coming years,” says Mohd Shakeel Iqbal, a lead plastics, polymers, and elastomers research analyst from Technavio.
This category of vendors includes:
BASF. This company has increased its global plastic additives production. It will invest in a number of operating sites across the world: US, Europe, and APAC. Antioxidants (known as Irganox), process stabilizers, light stabilizers, flame retardants, blends, and pigments are part of the manufactured products.
After Clariant and The Dow Chemical Company, follows Evonik Industries, a producer of polymer materials and intermediates for consumption in the rubber and plastics industries. Its products can be used every day for consumer goods, animal nutrition, and healthcare products..
As for ExxonMobil, it produces polymer resin, polyethylene, and plastic additives, which enable to enhance the performance of products. The plastic additive products include modifiers, plasticizers, lubricants, and extenders.
LANXESS. This leading specialty chemicals company has marked the market with the strategic acquisition of Chemtura, which is one of the major plastic additive-producing companies; a good way to enter this market.
Mitsui Chemicals’ plastic additives are used in automobile, electronic, housing, and others. The various types of plastic additives manufactured by Mitsui Chemicals include stabilizers, blowing agents, impact modifiers, pigments, and processing aids.
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