The global Plastic Additives Market Growth Accelerated by Increased Demand from the Packaging Industry
Plastic additives are used to enhance the performance and durability of plastics and are commonly added to plastic products during manufacturing. Plastic additives improve fire resistance, UV protection, heat stability and other properties of plastics. They help extend product life and allow for a wide range of applications. The global Plastic Additives Market is estimated to be valued at US$ 45.94 Bn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends : Increased demand from the packaging industry has been a major driver for the growth of the Plastic Additives Market . The packaging industry has seen rising usage of plastics due to growth in e-commerce and on-demand delivery services. Plastic additives allow packaging products to withstand harsh manufacturing and transportation conditions. They provide properties such as UV protection, moisture resis...