Performance Additives Market Dynamic Outlook and Influencing Key Growth
Performance Additives Market is expected to rise from its initial estimated value of USD 88.02 billion to an estimated value of USD 164.12 billion by 2026, registering a CAGR of 8.1% in the forecast period of 2020-2026.
Key Market Competitors:
Few of the major competitors currently working in global performance additives market are Akzo Nobel N.V., Altana, Arkema SA, BASF SE, Clariant, Solvay, Evonik Industries AG, Huntsman International LLC, LANXESS, The DOW Chemical Company and many more.
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Performance additives are the various chemicals that are added to the modern-day automotive gasoline and other propelling fuels to stabilize and elevate their octane level, decrease the propensity of pre-ignition, and allow for more power to be made from increased compression and advanced ignition timing. Growing demand for these chemicals from automobile and construction industries are likely to play a major role in the market growth.
Segmentation: Global Performance Additives Market
· By Type (Plastic Additives, Rubber Additives, Ink Additives, Pigment Additives, Paints and Coating Additives)
· By End-Use (Packaging, Household Goods, Construction, Automotive, Industrial, Wood and Furniture, Others)
· By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
Competitive Analysis:
Global performance additives market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of performance additives market are for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Market Drivers:
· Growing population and rapid urbanization
· High demand from end-use industries
· Development of multipurpose additives
Market Restraints:
· Volatile raw material prices
· Stringent environmental regulations related to additives
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Key Insights in the report:
· Complete and distinct analysis of the market drivers and restraints
· Key market players involved in this industry
· Detailed analysis of the market segmentation
· Competitive analysis of the key players involved
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