Packaging Additives Market Overview, Growth and Trend Analysis, 2014 to 2024Packaging ContainersUpdated on Jun 27, 2018 View more like this | Visit FELTON, CA | Contact Grand View Research, Inc. |
The global Packaging Additive Market is anticipated to reach USD 1.01 billion by 2024. The increasing demand
for the use of additives such as antimicrobial agents, antifog agents, and
oxygen scavengers as a result of protecting the packed product such as food,
beverages, and pharmaceutical from the external environment is expected to
boost the market over the forecast period.
In 2016, Asia Pacific contributed to 28.1% of the overall market in
terms of revenue. The market is expected to grow substantially on account of
the increasing demand for packed foods and beverages. Moreover, the growth of
the pharmaceutical manufacturing sector in the region is expected to augment
the growth of the market.
The demand for packaging additives is expected to witness a significant
growth on account of the technological development and lower-cost solutions.
Moreover, major manufacturing companies are investing heavily in R&D to
introduce innovative products and expanding their presence in the global market
by increasing their production capacity to meet the required demand.
UV stabilizers were valued at USD 97.8 million in 2016 and are expected
to grow on account of its utilization for protecting the packaged material from
the external environment such as infrared radiation and ultraviolet radiation
from sunlight. Increasing demand for barrier protection solutions is expected
to drive growth.
Food packaging dominated the global market in 2016 and projected to grow
at a CAGR of 4.4% over the projected period. Additives play a major role in
protecting the packed item. In addition, they help in reducing the formation of
moisture on the surface which allows a consumer to view the product clearly.
Aesthetics play a major role in driving the growth of the market in the
application sector.
The pharmaceutical & healthcare segment is anticipated to be the
fastest growing application over the forecast period. These additives provide
the necessary chemical and physical stability to the packaged product by
protecting it from the external environment such as light, oxygen,
microorganism and moisture. The increasing demand for these additives due to
regulatory pressures and enhanced patient care anticipated to boost the market
over the forecast period. The segment is estimated to be worth USD 212.6
million by 2024.
The key players in the global market are Clariant, Adeka Corporation,
Amcor, Songwon Industrial Co. Ltd, ALTANA AG, Addivant, Cytec Solvay Group,
BASF SE, E.I. Du Pont De Nemours & Company and AkzoNobel.
Hexa Research has segmented the global packaging additive market based
on type, product, application and region:
Segmentation by type, 2014 - 2024 (Tons) (USD Million)
• Antimicrobial agents
• Antifog agents
• Antistatic agents
• Clarifying agent
• Oxygen Scavengers
• UV stabilizers
• Others
Segmentation by product, 2014 - 2024 (Tons) (USD Million)
• Rigid
• Flexible
• Others
Segmentation by application, 2014 - 2024 (Tons) (USD
Million)
• Food
• Beverages
• Pharmaceutical & Healthcare
• Cosmetics & Personal care
Segmentation by region, 2014 - 2024 (Tons) (USD
Million)
• North America
• U.S.
• Europe
• Germany
• UK
• Asia Pacific
• China
• India
• Latin America
• Middle East & Africa
Key players analyzed
• Clariant
• Adeka Corporation
• Amcor
• Songwon Industrial Co. Ltd
• ALTANA AG
• Addivant
• Cytec Solvay Group
• BASF SE
• E.I. Du Pont De Nemours and Company
• AkzoNobel
Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/advanced-materials-industry
