Finding significant application in various end-user industries plastic additives are gaining major traction over time. The increasing incorporation of plastics for a large number of applications is further fueling the demand for plastic additives. Replacing conventional materials, plastics are becoming a vital part of the several manufacturing facilities and units. Engineered plastics possess superior properties including electrical and mechanical attributes that make them a superior choice over other materials such as paper, metal, ceramic, and glass. Furthermore, the increasing demand for light weighing materials is further driving the plastic demand, further driving the utilization of plastic additives. As plastic additives improve the processing characteristics and properties of plastics, they play a major role in gaining high-performance plastics. The Asia Pacific market for plastic additives has showcased tremendous growth opportunities for the plastic additives manufacturers, with a significant demand growth reflected by this region.

Key Developments in Plastic Additives Production Landscape

With the continual requirements for plastic additives, leading companies producing plastics additives are working towards transforming the production landscape of plastic additives to ensure that future requirements are addressed effectively. The Asia Pacific region being a lucrative market for plastic additives, leading manufacturers of plastic additives are leveraging the potential held by Asia Pacific countries, thereby gaining major profitability over time.

BASF, for instance, a leading name in the plastic additives landscape, is making similar efforts for strengthening its presence in the Asia Pacific region. The company has notably recognized the increasing demand for plastic additives, thereby making strategic arrangements to gain benefits from the same. BASF initiated a new and the company’s first plastic additives factory in Shanghai, China and the seventh production site of BASF around the world. Targeting the robust demand in China, this new factory that would come in production in two phases in 2019 and 2020 respectively is claimed to a production capacity of about 42000 tons. Apart from the production expansion, the company focuses on innovation as its next crucial strategy that could help it maintain a significant market position.

BASF is not the only plastic additives manufacturer that focused on production expansion. Clariant, a globally recognized specialty chemicals provider and a prominent manufacturer of plastic additives recently announced the introduction of two new completely-owned additives facilities in its Zhenjiang, China site. This multi-million investment would place the plastic additives business of the company in China on track for further expanding its offering of high-end, customized solutions for coatings, plastics, and ink industries.

New Offerings Redefine Plastic Additives Capabilities

Innovations remain at the heart of development and profitability for plastic additives manufacturers. Companies are constantly working towards introducing new and improved plastic additives that could help achieve significant performance of plastics. For example, a leading chemical company Solvay recently showcased its advancements in UV stabilization for plastics at Asia’s leading trade fair for plastics and rubber, Chinaplas. The stabilizers protect the appearance and physical properties of plastics from the exposure to UV light and provide an optimal balance of cost and process efficiencies. Solvay presented its complete portfolio that focuses particularly on the prominent market in the Chinese province.

 Another company providing polymer additives, Addivant has also introduced a breakthrough product in the plastic additive space, nonylphenol-free stabilizer WESTON 705, which has secured the approval for food contact in China. Furthermore, a next-gen LLDPE (linear low-density polyethylene) packaging based on WESTON 705 has been commercialized, thereby bringing new level of performance, safety, and efficiency in food packaging across Asia, Europe, and North America. An in-depth analysis of the plastic additives market is presented into the research publication.

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