High-performance plastic additives are gaining traction in end-user industries on the back of sustainability concerns and are also being used to modify the properties of different polymers.
BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study High-Performance Plastic Additives Market – A Global and Regional Analysis.
According to this study, the global high-performance plastic additives market was valued at $1.04 billion in 2021 and is projected to reach $2.83 billion by 2031.
The following factors are responsible for the increase in demand for high-performance plastic additives:
- Rising demand from the automotive industry
- Replacement of conventional materials in a variety of applications
- Development of innovative applications and rising demand from the electronics industry
The detailed study is a compilation of 144 market data tables and 21 figures spread through 266 pages.
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Analyst’s Take on the Market Projection
According to Sachin Singh, Lead Analyst- BIS Research, “High-performance plastic additives play a significant role in transportation, medical, electricals and electronics, packaging, and aerospace, as well as other applications. High-performance plastic additives have been adopted by these end users as it improves the sliding friction, weight-saving capabilities, rigidity, high stiffness, and durability of the substrates to which they are applied. Also, the expansion of the transportation industry, increasing electrical and electronics products adoption, and demand from the packaging industry are anticipated to drive the market during the forecast period.”
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The End-Used Segment is Expected to be Dominated by the Electrical and Electronics Segment
According to BIS Research’s study, electrical and electronics was the leading end-user segment for the high-performance plastic additives market in 2021. This was largely attributed to the rising sales of electric components across the globe.
The study further suggests that this trend is expected to continue during the forecast period of 2021-2031. The reason behind this is again the growing demand for electric components such as adapters, electromechanical elements, consumer devices, wires and electrical connections, detectors, storage devices, smart electronics, battery components, and semiconductor manufacturing devices.
Major Existing Industry Leaders in the High-Performance Plastic Additives Market
The companies that are profiled have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the established names in the market are
- Solvay S.A.
- Evonik Industries AG.
- Colloids Ltd.
- Brueggemann GmbH & Co. KG
- Americhem, Inc.
- Colortech Inc.
- Tosaf Compounds Ltd.
- BASF SE
- SUQIAN UNITECH CORP., LTD.
- Avient Corporation
- Advanced Polymer Solutions, LLC
- NEWOS GmbH
- Ceramer GmbH
- Karan Industrial Group
Recent Developments in the Global High-Performance Plastic Additives Market
- In October 2022, during K 2022 in Dusseldorf, Germany, Evonik Industries AG displayed its most recent viable strategies for the polymers and foam industries. INFINAM PA, a new and improved grade of PA-12 powders with drastically reduced CO2 emissions for fused deposition 3D printing technologies, was also displayed.
- In September 2022, SABIC unveiled the LNP THERMOCOMP AM DC0041XA51 compound at InnoTrans 2022 in Berlin, Germany. It is an innovative carbon fiber-reinforced, flame-retardant (FR) substance appropriate for pellet-fed additive manufacturing (PFAM/), which is fully complied with E.U. and U.S. rail fire safety requirements.
- In September 2021, 3M expanded its line of boron nitride cooling fillers with new product grades, i.e., boron nitride cooling filler agglomerates CFA 100 and boron nitride cooling filler agglomerates CFA 150. Both consist of soft boron nitride agglomerates, which are used to enhance isotropic thermal conductivity and have applicability in automotive, electrical, and electronic devices and components.
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