India, China to drive growth of global plastic additives market projected to grow at 3.8%

摘要

THE global plastic additives market is forecasted to reach US$ 50 bin by 2020 and is projected to grow at a CAGR of 3.8% during the forecast period. India and China are the lucrative markets due to presence of low-cost labour and raw materials, as per Futuremarketinsights.com. Plasticizers is the largest revenue generating segment of the plastic additives market valued at US$21.4 bin, followed by flame retardants with a CAGR of 5.4% projected for 2013-2020. The anti-microbial segment will also grow at a moderate rate due to increase in demand from the healthcare industry. The plastic additive industry is energy-and capital-intensive, wherein gas and oil are the major raw materials. It is easy to use and has numerous applications that make it an adaptable industry. Asia Pacific is the leader globally in terms of value and volume and production and consumption, and the key drivers being the surge in its automobile and infrastructure industry. Additionally, the Chinese and Indian automobile industries are expected to grow at 8 to 14% respectively during the forecast period 2014-2020.