NEW YORK, Nov. 16, 2023 /PRNewswire/ — The functional additives market is expected to grow by USD 1.29 billion from 2023 to 2028. In addition, the growth momentum of the market will progress at a CAGR of 5.49% during the forecast period, according to Technavio. Rising online and internet sales of functional additives are notably driving the functional additives market. However, factors such as Volatile raw material prices of functional additives may impede market growth.
The market is segmented by application (foods and beverages, pharmaceutical and healthcare, personal care and cosmetics, and others), type (oxygen scavengers, UV stabilizers, antistatic agents, antimicrobial additives, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). We provide a detailed analysis of 20 companies operating in the functional additives market including ADEKA Corp., Akzo Nobel NV, Altana AG, Amcor Plc, Arkema Group, Avient Corp., BASF SE, Clariant International Ltd., Dow Chemical Co., DuPont de Nemours Inc., Dynea AS, Evonik Industries AG, Lanxess AG, Milliken and Co., RPM International Inc., Sabo Spa, SI Group Inc., Solvay SA, Songwon Industrial Co. Ltd., and The Sherwin Williams Co.
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Functional Additives Market 2024-2028: Company Analysis
ADEKA Corp. – The company offers functional additives such as water-borne resins, epoxy resins, low-chlorine epoxy resins, and urethane resins.
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Functional Additives Market 2024-2028: Segmentation
Application
- The foods and beverages segment is estimated to witness significant growth during the forecast period. Functional additives are used in the food sector to improve the packaging performance shelf life and processability of the products. The large share of the global beverage packaging market is expected to be attributed to bottles and cans in the beverages sector. Paperboard, plastics, glass, metals, and paperboards are part of the packaging segment.
- type (oxygen scavengers, UV stabilizers, antistatic agents, antimicrobial additives, and others)
Geography
- APAC is estimated to contribute 61% to the growth of the global market during the forecast period. The increase in demand for foods, beverages, pharmaceuticals, and consumer goods is caused by increased consumption. Demand for flexible packaging is expected to be driven by the growing number of people in India and China, particularly as regards food and beverages.
- North America, Europe, South America, and Middle East and Africa
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Functional Additives Market 2024-2028: Key Highlights
- Historic Market Size 2018-2022
- CAGR of the market during 2024-2028
- Detailed information on factors that will assist functional additives market growth during the next five years
- Estimation of the functional additives market size and its contribution to the parent market
- Forecasts on upcoming trends and changes in consumer behavior
- The growth of the functional additives market
- Analysis of the competitive landscape and detailed information on companies
- Comprehensive details of factors that will impede the growth of functional additives market companies
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The Global Coating Additives Market size is estimated to grow by USD 3,331.68 million between 2022 and 2027 exhibiting a CAGR of 5.86%.
The polymer-based solubility enhancement excipients market size is estimated to grow by USD 3,907.24 million at a CAGR of 16.84% between 2023 and 2028.
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Functional Additives Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.49% |
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Market growth 2024-2028 |
USD 1.29 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
4.66 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 61% |
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Key countries |
US, China, India, Japan, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
