The Latin America, Middle East and Africa Plastic Additives Market would witness market growth of 6.5% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 1,933.3 Kilo tonnes, showcasing a growth of 6.4% (2023-2030).
The applications of plastic additives are diverse, reflecting the adaptability of these compounds to meet specific requirements across various industries. Stabilizers, including antioxidants and UV stabilizers, are integral to preserving plastics' physical and chemical properties. Antioxidants mitigate the effects of oxidation, preventing the degradation of polymers over time. UV stabilizers protect against the harmful effects of ultraviolet radiation, maintaining the integrity of plastic products exposed to sunlight.
Moreover, plasticizers are essential additives that impart flexibility and elasticity to plastic materials. Commonly used in producing PVC (polyvinyl chloride), plasticizers enhance the workability and versatility of the polymer, making it suitable for applications such as flooring, cables, and medical tubing. Flame retardants are incorporated into plastics to enhance their resistance to ignition and combustion. Flame retardant additives ensure that plastic materials meet stringent safety standards in industries where fire safety is paramount, such as electronics and construction. Likewise, the aesthetic appeal of plastic products is often a crucial factor influencing consumer preferences. Colorants and pigments provide a spectrum of colors to plastics, contributing to the visual appeal of items ranging from packaging materials and consumer goods to automotive components.
Additionally, the UAE is known for its ambitious infrastructure development projects, including iconic structures, transportation networks, and urban planning initiatives. As per the Dubai Statistics Center, in 2022, there were 13,236 buildings under construction in Dubai and 1,941 completed buildings. Rapid urbanization has increased demand for housing, commercial spaces, and public amenities. Cities like Dubai and Abu Dhabi have grown substantially, requiring more infrastructure and real estate developments. Thus, the growing construction sector in the LAMEA region will lead to increased demand for plastic additives.
The Brazil market dominated the LAMEA Plastic Additives Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,972.3 million by 2030.The Argentina market is showcasing a CAGR of 7.7% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 6.2% during (2023 - 2030).
Free Valuable Insights: The Worldwide Plastic Additives Market is Projected to reach USD 79.4 Billion by 2030, at a CAGR of 5.2%
Based on Plastic Type, the market is segmented into High-Performance Plastics, Commodity Plastic, and Engineering Plastic. Based on Application, the market is segmented into Building & Construction, Packaging, Automotive, Consumer Goods, Agriculture, Electrical & Electronics, and Others. Based on Type, the market is segmented into Plasticizers, Flame Retardants, Impact Modifiers, Antioxidants, Lubricants, Antimicrobials, UV Stabilizers, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Plastic Type (Volume, Kilo Tonnes, USD Billion, 2019-2023)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2023)
By Type (Volume, Kilo Tonnes, USD Billion, 2019-2023)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2023)
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