Hyderabad, Aug. 21, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Polymer Processing Aid Market Report (2023-2028)," the market is estimated at USD 1.78 billion in 2023. It is expected to register a CAGR of 4.76% during the forecast period.
Polymer processing aids, or PPAs, are additives added to base polymers to enhance processability and improve the quality of end products. The blown film, cast film, and wire and cable industries are witnessing increased demand for PPAs. Moreover, new opportunities are arising from the fiber, raffia, telecommunications, and electric vehicle industries. The market is led by the Asia-Pacific region.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 1.78 billion |
| Market Size (2028) | USD 2.25 billion |
| CAGR (2023-2028) | 4.76% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Growing demand from various industries. |
| Increased demand for plastics. |
Who are the Top Companies in the Global Polymer Processing Aid Market?
The market is fragmented, with the top players accounting for a marginal market share. The significant players in the global polymer processing aid market are,
- 3M
- Ampacet Corporation
- Arkema
- Avient Corporation
- BASF SE
- Clariant
- Daikin Industries Ltd
- Dow
- Evonik Industries AG
- Fine Organic Industries Limited
- Guangzhou Shine Polymer Technology Co. Ltd
- Gujarat Fluorochemicals Limited (GFL)
- Hannanotech Co. Ltd
- Kaneka Corporation
- LG Chem
- MicroMB (INDEVCO Group)
- Mitsubishi Chemical Corporation
- Mitsui Chemicals Inc.
- Nouryon
- Plastiblends
- PMC Group, Inc.
- Shanghai Lanpoly Polymer Technology Co. Ltd
- Solvay
- The Chemours Company
- Tosaf Compounds Ltd
- WSD Chemical Company
Other Reports That Might Be of Your Interest:
- Ferroboron Market Report - The global ferroboron market is expected to register a CAGR of greater than 5.5% over the next five years.
- Tartaric Acid Market Report - The global tartaric market acid is projected to register a CAGR of more than 5% over the next five years.
Key Highlights from the Global Polymer Processing Aid Market Report:
Increasing Demand from Blown Film and Cast Film Segments
- Polymer processing aids in enhancing the quality of finished polymer products during extrusion processes like pipes, film, and tubes. They improve the transparency, smoothness, appearance, and mechanical properties of films.
- The global plastic cast film technology market is currently valued at USD 14,486.6 million. High demand for packaging films, agriculture films, and tapes is driving demand for improved polymer properties.
- The global food packaging market was worth USD 363 billion in 2022, and it is projected to reach USD 512 billion by 2028. The polymer processing aid market is expected to experience rapid growth due to these factors.
Asia-Pacific Leading the Market
- The Asia-Pacific region is expected to continue dominating the polymer processing aid market due to increased demand for plastics in industries like packaging, automotive, and construction.
- China's booming construction industry and government investments in infrastructure are contributing to the demand for polymer processing aid.
- Demand for clean films in food packaging and agriculture sectors in countries like China, India, Japan, and South Korea is also increasing.
- Rising demand for polymer products in aviation, defense, automobiles, telecommunications, and other sectors is driving the market. Polymer processing aids help reduce damage to polyethylene during manufacturing.
What are the Latest Developments in the Global Polymer Processing Aid Market?
- In January 2023, Ampacet Corporation introduced PFAS-free polymer processing aid 1001316-N.
- In October 2022, Clariant introduced new polymer processing additives to facilitate the reuse of plastic in numerous consumer applications.
Mordor Intelligence has Segmented the Global Polymer Processing Aid Market Based on Polymer Type, Application, End-user Industry, and Geography.
- By Polymer Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Polyethylene
- LLDPE
- LDPE
- HDPE
- Polypropylene
- PVC, ABS, and Polycarbonate
- Other Polymer Types
- Polyethylene
- By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Blown Film and Cast Film
- Wire and Cable
- Extrusion Blow Molding
- Fibers and Raffia
- Pipe and Tube
- Other Applications
- By End-user Industry (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Packaging
- Building and Construction
- Transportation
- Textiles
- IT and Telecommunication
- Other End-user Industries
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Asia-Pacific
- China
- India
- Japan
- South Korea
- ASEAN Countries
- Rest of Asia-Pacific
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Russia
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Asia-Pacific
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Polymer Processing Aid Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Tetrahydrofuran (THF) Market Report - The global tetrahydrofuran (THF) market is projected to register a CAGR of 6% over the next five years.
- 2-Ethyl Hexanol Market Report - The market for 2-ethyl hexanol is projected to register a CAGR of more than 5% over the next five years.
- Bio-Based Succinic Acid Market Report - The market for bio-based succinic acid is projected to register a CAGR of less than 2% over the next five years.
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
Attachment
