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Plastics' replacement of traditional materials in a variety of applications is a major factor driving the market's growth. The increasing disposable income and rapid urbanisation are driving the industry forward. The market's rapid growth is aided by increasing demand from the Asia Pacific region. The untapped opportunities in emerging markets for packaging are acting as catalysts for the industry's growth. In addition to this, the rising demand from agricultural and pharmaceutical applications is expected to drive market growth over the forecast period.
In June 2016, Lanxess AG (OTCMKTS: LNXSF) launched Stabaxol P 110, a new hydrolysis stabiliser. When used in thermoplastics like PET and PBT, it performs well. The company has expanded its offering of hydrolysis stabilisers for a variety of applications, including engineering injection moulding, cable sheathing, and paper machine screens, with the addition of this product. This addition also bolstered the demand for the product in the historical period of 2017-2020.
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The major players in the plasticisers coating additives industry are BASF SE, Arkema Group, Evonik Industries AG, Exxon Mobil Corporation, Eastman Chemical Company, LG Chem, and INEOS Group, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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