Automotive Additive Market Outlook And Growth Drivers 2023
The global automotive additive market size was valued at USD 9,604.4 million in 2022 and is poised to grow at a significant CAGR of 5.8% during the forecast period 2023-29. It also includes market size and projection estimations for each of the five major regions from 2023 to 2029. The research report includes historical data, trending features, and market growth estimates for the future. Furthermore, the study includes a global and regional estimation and is further split by nations and categories within each region. The research also includes factors and barriers to the automotive additive market growth, as well as their impact on the market's future growth. The report gives a comprehensive overview of both primary and secondary data.
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The global automotive additive market segmentation:
1) By Plastic: Polypropylene (PP), Polyurethane (PUR), Poly-Vinyl Chloride (PVC), Acrylonitrile Butadiene Styrene (ABS)
2) By Plastic Additive: Plasticizers, Anti-Scratch, Stabilizers, Antioxidants, Others
3) By Vehicle: Passenger Cars and Commercial Vehicles
4) By Application: Exterior, Interior, Under the Hood, Electronic & Electrical
The primary factor of the automotive additive market drivers is the enactment of stringent environmental regulations. The automotive additive market report helps to provide the best results for business enhancement and business growth. It further helps to obtain the reactions of consumers to a novel product or service. It becomes possible for business players to take action to change perceptions. It uncovers and identifies potential issues of the customers. It becomes easy to obtain the reactions of the customers to a novel product or service. It also enlightens further advancement, so it suits its intended market.
The automotive additive market research report gives a comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America was the largest region in the automotive additive market report, accounting for the highest share in 2022. It was followed by Asia Pacific, and then the other regions.
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The important profiles and strategies adopted by the automotive additive market key players are Akzo Nobel N.V., BASF SE, Clariant, Covestro AG, The Dow Chemical Company, Evonik Industries, ExxonMobil Corporation, Kaneka Corporation is covered here to help them strengthen their place in the market.
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