Green Polymer Additive Market – Technological Advancements In Green Chemistry And Consumer Awareness Is Expected To Drive The Market To An Upward Growth Trajectory

Pune, India, March 2023, MRFR Press Release/Market Research Future has published a Half- Cooked Research Report on the Global Green Polymer Additive MarketGlobal Green Polymer Additive Market

The green polymer additives are nature-based polymer components that are added to polymers to enhance their properties. Green polymer additives help in increasing the toughness and flexibility of polymers. The use of green polymer additive enhances the recyclability of the polymers; this reduces the use of additives such as phthalates. The green polymer additives are classified into various product Products: lubricants, release agents, special plasticizers, viscosity regulators, antistatic agents, antifogging agents, and anti-blocking or slip agents. It has a wide range of applications in packaging, automotive, building & construction, and electronics & consumer goods, among others.

Global Green Polymer Additive Market Highlights

According to the MRFR analysis, the global Green Polymer Additive market size is projected to reach USD 3,002.76 million by 2030 at a CAGR of 6.76%.

The surging demand for green polymer additives in various end use industries is primarily driving the global green polymer additive market. Also, the rising demand for sustainable and eco-friendly products are the important factors influencing the market positively. The government regulations supporting nature-based polymer products are expected to provide an optimistic opportunity for market growth.

However, the high cost of green polymer additives is expected to hamper the market growth over the forecast period.

COVID-19 Impact on the Global Green Polymer Additive Market

The COVID-19 outbreak has had a negative impact on the global green polymer additive market and exposed various challenges for various end use industries such as automotive and packaging. South Korea, Japan, and Italy are significantly affected by the COVID-19 pandemic, that causes decrease in revenue growth of various automotive companies, and has negative impact on green polymer additives market. The production of green polymer additives declined amidst the COVID-19 pandemic as the market players had to shut production facilities or operate the facilities below the optimal production capacities to prevent the spread of the COVID-19. However, Tier-1 market players have continued operations at their production facilities.

The companies are working aggressively toward safeguarding their employees' health and well-being while also supporting government goals of maintaining critical business activities such as healthcare, power generation, and food production.

Additionally, the change by key players in this global market are providing the essential products required for medical application is a key factor driving the growth of the market. The major key players of the market, such as Dow, Evonik Industries AG, contribute to the global world in this critical situation. Dow repurposed its existing facilities to produce hand sanitizers. Furthermore, the teams of Evonik Industries AG with 3D Systems Corporation, EOS Global, and teams the multinational printing firm HP Inc, bundle their expertise in additive manufacturing to support hospitals with 3D-printed medical devices used in the fight against the COVID-19 pandemic. These companies are donating polyamide 12 powder required for 3D printing in the medical industry for medical devices. 

The supply side has faced several issues owing to the limitations on travel and the lockdown across regions. In conclusion, every end-use industry is facing a challenge for smooth operations during this period. However, the pandemic is expected to have a short-time impact across the global markets. On the other hand, the long-term impact is expected to have a moderate effect, and the operations across this market would bounce back to normal gradually.

Market Trends & Opportunities

• Government regulations in support of nature-based polymer products

Green polymer additives are biodegradable and enable green polymers to form and help mitigate the rising environmental concerns. The upsurge in demand for substituting petroleum-based polymer additives due to environmental concerns fuels market growth. The nature-based polymer products have unique properties such as low toxicity and low migration and are one of the major alternatives for petroleum-based polymer additives. Rising public acceptance for nature-based polymers is expected to fuel market growth over the forecast period.

Moreover, the development of renewable epoxidized soybean oil (ESO) technology-based additives resulted in increased interest of material researchers and industries in the development of new bio-based materials, made from renewable and biodegradable resources potential to reduce the use of conventional plastic goods. Such developments are expected to thrive a positive push for market growth in the forthcoming years.

Another key factor driving market demand growth is attracting many stringent regulations from government agencies towards natural-based polymer products. To keep a check on chemical substances used in green polymer additives manufacturing, the government has enacted regulations such as the registration, evaluation, authorization, and restriction of chemicals act (REACH). These regulations promote the use of eco-friendly chemicals and restrict harmful chemicals. Several environmental laws forbid the use of di-octyl phthalate in polymers owing to the demand for economically sustainable chemical products.

The European Union industrial policy is pushing the industrial and academic world toward developing sustainable alternatives to fossil-fuel-based products and declaring the bio-based products sector to be a priority sector with high potential for future growth, reindustrialization, and addressing societal challenges. In this frame, bio-based polymers have shown steady growth over the past years.

Another regulation driving the market is Clean Air Act, this law is the United States' primary federal air quality law, intended to reduce and control air pollution across the globe. The Clean Clear Act supports nature-based materials to decrease environmental pollution and provide a clean and safer product to consumers.

Competitive Landscape

The global green polymer additive market is fragmented and consists of many organized and unorganized industry players. Manufacturers focus mainly on the expansion of production capacities, continuous product launches, and collaborations with key stakeholders to gain a competitive advantage over other players. Key players include Emery Oleochemicals (US), DuPont De Nemours, Inc. (US), Clariant AG (Switzerland), Dow (US), BASF SE (Germany), Lanxess (Germany), AkzoNobel NV (Netherlands), Evonik Industries AG (Germany), PolyOne Corporation (US), Solvay (Belgium), GC Innovation America (US), Arkema Inc (France).Read More Article Details - Green Polymer Additive market