According to Technavio's market research report, the global packaging additives market will grow at a CAGR of more than 5% during the forecast period. The increasing demand for packaging additives in pharmaceutical packaging is one of the key drivers that will drive the growth prospects for the market during the estimated period. Emerging economies such as Brazil, Russia, India, China, and South Africa (BRICS) are witnessing growth in the pharmaceutical packaging industry due to the rising disposable income and growth in healthcare facilities. The pharmaceutical packaging industry highly relies on resins such as polyvinylidene chloride and ethylene vinyl alcohol to protect their products against light, oxygen, moisture, biological contamination, counterfeiting, and mechanical damage. Some of the key applications of packaging additives include UV additives, masterbatch colorants, stabilizers, and lubricants for blister packaging.
One of the key trends that will gain traction in the global packaging additives market is the emergence of green additives. The growing environmental concerns are compelling manufacturers to come up with eco-friendly additives such as green PDAs. Mild oxidizing bio-based additives such as pro-degradant additives (PDAs) are used for the degradation of PET and PP films.
Competitive landscape and key vendors
The global packaging additives market is highly competitive due to the presence of many vendors. These vendors compete against each other based on factors such as product performance and quality, price, product availability, security of supply, and customer service.
Key vendors in this market are -
Other prominent vendors in the market include PPG, Flint Group, DIC Corporation, and Valspar.
Segmentation by application and analysis of the packaging additives market
Pharmaceutical and healthcare
Packaging additives are highly preferred in the food sector because they improve the appearance and processability of the product and enhance the packaging performance. The segment will continue to rely on packaging additives during the forecasted period to keep the food products fresh and retain its nutritional value for a long period.
Segmentation by geography and analysis of the packaging additives market
In APAC, China is the leading producer and consumer of packaging additives. The food and beverage sector in the region is witnessing growth due to rise in the disposable income. The market will continue to grow for the next four years due to the rising number of consumers of packaging additives in countries such as China, Japan, India, and South Korea.
Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the global packaging additives market?
What are the key market trends impacting the growth of the global packaging additives market?
What are the challenges to market growth?
Who are the key vendors in the global packaging additives market?
What are the market opportunities and threats faced by the vendors in the global packaging additives market?
What are the trending factors influencing the market shares of APAC, Europe, North America, and ROW?
What are the key outcomes of the five forces analysis of the global packaging additives market?
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This upcoming market research report on the packaging additives market is an integral part of Technavio's chemical and materials portfolio and offers key insights into the market space for additives, adhesives, and sealants. Technavio's insightful market research reports also offer insights on the market size, forecast, trends, and industry analysis to help clients build effective growth strategies.
Additionally, by implementing an extensive research approach of quantitative and qualitative data collection methods and assessing the changing demand-supply landscape of the additives, adhesives, and sealants sector, the upcoming market research report on the packaging additives market offers insights into the key market drivers, trends, and eminent challenges that will influence the growth of the key suppliers in this market space.
This market research report on the packaging additives market also takes into account the growth of related market like adhesives and sealants market, which is anticipated to post an impressive CAGR of over 5%, respectively during the forecast period. According to our analysis, rapid urbanization in the Asia-Pacific region is expected to influence the global market significantly. Furthermore, to offer clients the scope to identify potential market opportunities and expand in niche markets, this report on the packaging additives market also covers geographies like Europe, North America, APAC, and ROW.
The upcoming industry report on the packaging additives market also offers insights into fast-growing segments within the consumer and retail industry, including sectors like olefins and specialty chemicals. Additionally, the report also presents insights into the changing competitive landscape and gives clients a complete view of the future direction of the chemicals and materials industry.
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