Growing demand for these chemicals from automobile and construction industries are likely to play a major role in their market growth.
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The Global Performance Additives Market accounted for USD 75.32 billion in 2016 and is projected to grow at a CAGR of 8.5% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Market Definition: Global Performance Additives Market
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 their market growth.
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Major Market Drivers: Global Performance Additives Market
- Growing population and rapid urbanization
- High demand from end-use industries
- Development of multipurpose additives
Market Restraint: Global Performance Additives Market
- Volatile raw material prices
- Stringent environmental regulations regarding additives
- Market Segmentation: Global Solvent Market
The market is segmented on the basis of type into plastic additives, paint & coatings additives, pigment additives and ink additives.
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On the basis of end-use, the market is segmented into packaging, household goods, automotive, industrial and construction.
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On the basis of geography, the performance additives market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
Major Market Competitors: Global Performance Additives Market
Major Market Players in the Market:
- Akzo Nobel N.V.
- Arkema SA
- BASF SE
- Cytec Solvay
- Evonik Industries AG
- Huntsman International LLC
- Lanxess AG
- The DOW Chemical Company
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