Top 20 Plastic Additives Companies, Worldwide 2023: MarketsandMarkets 360 Quadrant Revealed

CHICAGO, Sept. 5, 2023 /PRNewswire/ -- MarketsandMarkets has released 360 Quadrant for Top 20 Plastic Additives Companies, Worldwide 2023 to help businesses make quicker and more informed decisions. Companies' market presence and product footprint are used to build quadrants, which will be revised annually.

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The market for plastic additives was estimated to be worth USD 45.6 billion in 2021, and it is anticipated to expand to USD 59.9 billion by 2026, with a compound annual growth rate of 5.6%. Growing demand from the packaging industry is the main driver of market expansion. The market has been driven by the rise of the packaging business, which has been sparked by changes in lifestyle and globalization. Packaging is widely utilized for industrial and domestic reasons. The growing prevalence of plastic in daily life applications is another factor driving the global market.

Roofing, storage containers, pipes, wires, electronics, toys, kitchenware, safety equipment, cosmetics, home goods, seat belts, door panels, greenhouse films, and silage sheet are a few of the common uses for plastic additives. The market is also fueled by the rapidly expanding industrial sector in developing nations like Brazil, Mexico, and India.

Unveiling the Market Leaders: Honoring Excellence in Plastic Additives Markets

BASF SE largest plastic additives producer, which has facilities in more than 80 nations. By establishing a solid technological foundation, the company's strong R&D skills enable it to create creative solutions and fulfill the shifting market demands in the short and long term. Chemicals, materials, industrial solutions, surface technologies, nutrition & care, agricultural solutions, and others make up the company's seven business segments. Plastic additives are provided by BASF through its industrial solutions division. It is active in North America, APAC, South America, Africa, and the Middle East countries but mostly operates in Europe. In Pontecchio Marconi, Italy, BASF SE built a new plant for the plastic additives industry..
The Dow Chemical corporation the business has been concentrating on the creation of new products and making investments in R&D projects to produce plastic additives based on cutting-edge technologies. The business provides services to a number of end-use industries, such as the automotive, construction, chemical processing, electronics, oil & gas, packaging, paints & coatings, personal care, and pharmaceutical sectors. The corporation has activities in North America, Latin America, Europe, the Middle East & Africa, and APAC. These operations include production facilities and sales offices. The business has been making significant investments in the creation of novel plastic additives with enhanced qualities..
Evonik Industries AG is one of the top leading player in plastic Industry. The organization has a positive reputation in the marketplace. Specialty chemical manufacturing is what it does. The business provides commodities for a variety of uses, including packaging, consumer goods, automotive, and construction. The business operates in more than 100 nations. It employs over 2,560 people in research and development across 37 locations, and it makes investments in new product development and innovation to promote growth and profitability as well as sustainability and performance.
Nouryon is the fourth-largest producer of plastic additives. It is a chemical business that prioritizes a sustainable future. AkzoNobel rebranded its AkzoNobel Specialty Chemicals as Nouryon in October 2018. The R&D department of the business focuses on innovation through the creation of novel plastic additive products. The business is improving its portfolio of businesses and broadening the breadth of its activities in an effort to obtain a competitive edge over rivals. With operations in North America, South America, the Middle East and Africa, Asia Pacific, and Europe, the corporation has a significant geographic reach. The organization is able to serve the market more effectively because to its robust supply and distribution networks.
Lanxess is the fifth-largest producer of plastic additives. Speciality chemicals, rubber, and plastics are among the products it develops, produces, and markets. The business focuses on enhancing its product offerings and has implemented inorganic growth tactics. For instance, the business entered into an agreement to purchase US-based Emerald Kalama Chemical. It is a well-known producer of specialized chemicals. LANXESS is present in Europe, North America, Latin America, and Asia on a global scale.

CATEGORIZATION OF PLASTIC ADDITIVES COMPANIES ON 360 QUADRANTS

Plastic Additives companies evaluation was conducted for 70 companies, of which the top 20 were categorized and placed in the quadrant under Market Leaders, Contenders, Innovators, and Emerging Companies.

All the companies in the market leader segment demonstrated strong offerings and the ability to influence the market's direction with their deep expertise. These companies include BASF, DOW, Evonik, Lanxess, Clariant, Kaneka and Avient.

Albemarle, Nouryon, Songwon and Ampacet have been recognized as contenders in the Plastic Additives quadrant. The contenders are companies with a strong market presence, excelling in specific niches. While not offering the full range of market leaders, they wield significant influence and impact. These companies focus on specific technologies and aim to establish leadership within their chosen segment.

In the quadrant, innovators are highly innovative companies with a strong product portfolio, but a smaller market presence compared to leaders. They push industry boundaries with forward-thinking approaches and have the potential to become major players despite lower corporate growth strategies. Adeka, Sakai, PMC, Baerlocher, BYK and Astra Polymers have been identified as the innovators in the quadrant.

The 360 Quadrants effectively evaluates emerging companies in the Plastic Additives industry. They focus on specific areas and offer specialized knowledge, targeted support, flexible terms, and competitive prices. While they may have limited capabilities, they are preferred for specific use cases. These companies employ strategies to expand sales and reach a broader client base. This segment of the quadrant has identified Milliken, Sabo, and ARGUS as emerging companies.

Evaluation Criteria

The vendor evaluation was conducted on over 70 companies of which the top 20 were categorized and recognized as the quadrant leaders. Factors such as revenue, geographic presence, vendor's market share, and business strategies have been considered to evaluate the Plastic Additives quadrant. The top criteria for company evaluation were Type (Plasticizers, Stabilizers, Flame Retardants, and Impact Modifiers), Plastic Type (Commodity, Engineering and High-Performance) and Application.

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360Quadrants Scoring Methodology

360 Quadrants employs a comprehensive and transparent scoring methodology to evaluate companies. It identifies relevant evaluation criteria, collects, and validates data from multiple sources, and employs an algorithm that considers parameter weights to generate scores. Normalization ensures fair comparisons, and the aggregated scores categorize solutions into quadrants such as Market Leaders, Contenders, Innovators, and Emerging Companies. This unbiased approach equips users with accurate information, empowering them to make well-informed decisions and select solutions that best suit their needs and objectives.

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