Polymer Additives are components, added to the polymer to modify its properties such as plasticity, temperature, and chemical resistance, colorants, and others. Polymers include lubricants, plasticizers, viscosity modifiers, antistatic and antifogging agents, and others. Polymer additives enhance properties of the polymer to make it suitable for specific applications. The Global Green Polymer Market is anticipated to grow at a CAGR of 7 % during the forecast period.
Demand For Green Plastics and Environmental Concerns Are the Prime determinants Of the Market
A spate of environmental laws exemplified by the European Union forbidding the use of di-octyl phthalate in polymers owing to demand economically sustainable chemical products. Green Polymer Additives are biodegradable additives, which enable the formation of green polymers and help mitigate environmental concerns.
The demand for substituting petroleum-based additives due to environmental concerns over growing plastic pollution, renewable nature, low toxicity and public acceptance of green polymers is another driver of the market. The development of renewable epoxidized soybean oil (ESO) technology based additives is creating a demand for green polymers in the market.
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Enactment of regulations such as the registration, evaluation, authorization, and restriction of chemicals act (REACH) is another driver of the market. These regulations promote the use of eco-friendly chemicals and restrict harmful chemicals. Another regulation driving the market is Clean Air Act.
Technological And Product Development Strategies Is Expected To Yield High Dividends
Due to its attractive benefits such as renewable, and biodegradability, poly-lactide acid (PLA) is considered as a very promising ecological, bio-sourced and biodegradable plastic materials. Research is ongoing in biopolymer made of lignin, abundant natural material and a byproduct of the paper industry. Such developments are expected to possess the most massive market opportunity.
The high cost of bio-polymer additives and fluctuation in the price of stock materials is expected to dent the market
The high cost of biopolymer additives and fluctuations in stock materials is a restraint on the market. The concerns of food security need to be mitigated. However, the growing usage of eco-friendly packaging materials is expected to overcome the constraints.
North America dominates the global green polymer additive market holding 40 % of the market share in 2016 owing mainly to consumers awareness and increasing appeal for green and eco-friendly packaging. The presence of significant players and technological advancements in Europe drives its second position of the global green polymer additive market after North America. The U.K, Germany, Belgium, and the Netherlands account for the most significant market share of the region.
Asia Pacific is expected to gain momentum in the field of green chemistry owing to ongoing R&D activities. Latin America success of producing green fuel such as bioethanol and biodiesel is expected to present it with a significant market opportunity. The Middle East & African market is supposed to be led by Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar.
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