11-Jul-2023 | Facts and Factors
According to the Facts & Factors report, the global additives market size was nearly $153 billion in 2022 and is set to increase to about $217 billion by 2030 along with securing the highest CAGR of 5.3% from 2023 to 2030.
Additives are active substances that are added to the product for improving specific features of the product such as performance, shelf life, texture, and output. There are myriad kinds of additives such as construction additives, feed additives, food additives, animal feed additives, plastic additives, coating additives, fuel additives, agrochemical additives, and lubricant additives. Moreover, these additives find lucrative applications in various end-use sectors.
Browse the full “Additives Market Size, Share, Growth Analysis Report By Product Type (Plastic, Construction, Coating, Food, Agrochemical, Lubricant, Fuel, and Medicated Feed), By End-Use (Building & Construction, Packaging, Chemical, Food & Beverages, Aerospace, Automotive, and Animal Husbandry), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 – 2030” report at https://www.fnfresearch.com/additives-market
Beneficial features of the additives are likely to boost the global additives market trends. Growing demand for light substances in the food & packaging and automotive sectors will steer the expansion of the market across the globe.
In addition to this, various other advantages offered by additives include imparting smooth texture to various foods & drinks, maintaining the wholesomeness of foods, and controlling the acid-base food balance apart from retaining a high proportion of nutrition in the food products. In addition to this, additives help in increasing the seasonal crop yield each year.
Nevertheless, adverse health effects owing to the consumption of food mixed with additives will put brakes on the growth of the global additives industry. However, the massive application of additives as stabilizing substances, surfactants, and solubilizing materials will open new growth avenues for the industry across the globe. This will also offset the impact of hindrances on the global industry in the upcoming years.
Segmental Overview:
The global additives market is divided into product type, end-use, and region.
The product type segment of the additives market is sub-segmented into product type, end-use, and region segments. Furthermore, the food segment, which contributed over 45% of the global market share in 2022, is set to establish its segmental dominance in the coming years. The growth of the segment in the next eight years can be subject to the large-scale application of additives in food products for enhancing shelf life, taste, and flavor.
In terms of end-use, the additives industry across the globe is segmented into building & construction, packaging, chemical, food & beverages, aerospace, automotive, and animal husbandry segments. Moreover, the food & beverages segment, which dominated the segmental growth in 2022, is anticipated to record the fastest CAGR in the forthcoming years. The segmental growth over the forecast timeline can be due to the large-scale use of products in the food & beverages sector.
Furthermore, the Asia-Pacific region, which contributed nearly 80% of the overall share of the additives market in 2022, is predicted to record the highest gains of 5.1% in the upcoming years. The regional market surge in the next few years can be subject to escalating demand for additives in building & construction, packaging, automotive, chemical, food & beverages, and animal husbandry sectors in India and China. Apart from this, liberal government policies pertaining to the use of additives in the various end-use sectors have promulgated the scope of growth of the market in the region.
Regional Overview:
Furthermore, the North American additives industry, which contributed nearly more than two-thirds of the global industry share in 2022, is set to make a notable contribution towards the global industry share in the forecast timespan.
The factors that are projected to play a pivotal role in determining the growth of the regional market include the presence of giant players in the countries such as the U.S. and Canada. In addition to this, huge product penetration in the food & beverages sector for enhancing the flavor, texture, and tastes of food & drinks as well as their lifespan will further expedite the regional industry surge.
Report Scope
Report Attribute |
Details |
Market Size in 2022 |
USD 153 Billion |
Projected Market Size in 2030 |
USD 217 Billion |
CAGR Growth Rate |
5.3% CAGR |
Base Year |
2022 |
Forecast Years |
2023-2030 |
Key Market Players |
Lanxess AG, BASF SE, PolyOne Corporation, Clariant AG, Dow Inc., Milliken Chemical, Evonik Industries AG, Eastman Chemical Company, Sanitized AG, BioCote Limited., and others. |
Key Segment |
By Product Type, End-Use, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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Competitive Landscape:
Key players in the global additives market include Lanxess AG, BASF SE, PolyOne Corporation, Clariant AG, Dow Inc., Milliken Chemical, Evonik Industries AG, Eastman Chemical Company, Sanitized AG, and BioCote Limited.
Recent Developments:
- In the last quarter of 2022, Clariant AG, a Switzerland-based specialty chemicals firm, introduced new anti-scratch additive solutions for TPO & PP formulations for increasing the use of plastics in consumer applications. Reportedly, the new solution will help in increasing the lifespan of agricultural mulch films. Apart from this, the new additive has found application transportation sector and electrical & electric sectors. The move is likely to boost the scope of growth of the global additives industry.
- In the first half of 2022, BASF SE, the largest chemical manufacturing firm across the globe, introduced the RegXcellence® service for plastic additives clients. Moreover, RegXcellence® service offers online solutions along with easing regulatory management issues, thereby augmenting various avenues of innovation for players in the plastic additives sector.
- In the second quarter of 2022, Lifeasible, a biotech firm and supplier of agriculture products, declared the launching of nine sweeteners for food additives. The move is aimed at expanding the food additive product line of the firm and increasing its revenues across the globe.
The global additives market is segmented as follows:
By Product Type
- Plastic
- Construction
- Coating
- Food
- Agrochemical
- Lubricant
- Fuel
- Medicated Feed
By End-Use
- Building & Construction
- Packaging
- Chemical
- Food & Beverages
- Aerospace
- Automotive
- Animal Husbandry
By Region
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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