|Fastest Growing Market:||Asia-Pacific|
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The market for polymer processing aids was valued at USD 1644 million in 2021 and is expected to record a CAGR of over 4% during the forecast period 2022-2027.
The COVID-19 pandemic negatively affected the demand for polymer processing aids in 2020. However, the market is now estimated to have reached pre-pandemic levels.
· Over the medium term, major factors driving the market studied include increasing demand for polymer processing aids in blown film & cast film and rising demand from the wire & cable segment.
· Growing demand for polymer processing aid in the fiber & raffia segment is expected to offer various lucrative opportunities for the market’s growth.
· By application, the blown film & cast film segment is expected to dominate the market owing to an increase in the production of food & non-food packaging, agriculture films, and tapes.
· The Asia-Pacific region dominated the polymer processing aid market across the globe, with the highest consumption from countries such as China, India, and Japan.
Scope of the Report
The polymer processing aid market is segmented based on polymer type, application, end-user industry, and geography. By polymer type, the market is segmented into polyethylene, polypropylene, PVC, ABS, polycarbonate, and other polymer types. By application, the market is segmented into blown film & cast film, wire & cable, extrusion blow molding, fibers & raffia, pipe & tube, and other applications. By end-user industry, the market is segmented into packaging, building and construction, transportation, textiles, IT and telecommunication, and other end-user industries. The report also covers the size and forecasts for the polymer processing aid market in 16 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million) and volume (kiloton).
|PVC, ABS, and Polycarbonate|
|Other Polymer Types|
|Blown Film & Cast Film|
|Wire and Cable|
|Extrusion Blow Molding|
|Fibers and Raffia|
|Pipe and Tube|
|Building and Construction|
|IT and Telecommunication|
|Other End-user Industries|
Key Market Trends
Increasing Demand from Blown Film & Cast Film Segment
· Polymer processing aid is used during polymer formulation when molten polymers are subjected to extrusion processes so that they can be formulated into pipes, film, tubes, and other products. Polymer processing aid improves the quality of finished products.
· Polymer processing aids help in increasing film transparency, improving smoothness, improving product appearance, and improving mechanical properties. Owing to these factors, the demand for polymer processing aid is increasing in the blown film & cast film segment.
· Additionally, the rise in demand for packaging films, agriculture films, and tapes is increasing the demand for polymers such as high-density polyethylene (HDPE), linear low-density polyethylene (LLDPE), and low-density polyethylene (LDPE) with improved properties such as high mechanical strength and durability. Due to this, the demand for polymer processing aids is expected to rise, which would stimulate its market.
· The market for cast film is expected to record a CAGR of over 3%, and the market for multi-layer blown films is projected to register a CAGR of over 6% during the forecast period.
· Owing to all the abovementioned factors, the polymer processing aid market is expected to grow rapidly over the forecast period.
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Asia-Pacific Region to Dominate the Market
· Asia-Pacific region is expected to dominate the market for polymer processing aid during the forecast period. In countries like China, India, Japan, and South Korea, owing to the increasing demand for plastics from various end-user industries like packaging, automotive, and building & construction, the demand for polymer processing aid has been increasing.
· The use of polymer processing aid helps in improving the surface quality of products, eliminating melt fractures, and reducing die deposits. These factors are expected to positively impact the polymer processing aid market.
· Additionally, the demand for polymer processing aid is expected to increase to meet the demand for clean films in food packaging and agriculture sectors in countries like China, India, Japan, and South Korea, which will stimulate the polymer processing aid market in the region.
· Furthermore, the optimum utilization of polymer processing aids can reduce the damage to polyethylene during the manufacturing process.
· Thus, the rise in demand for polymer products from various applications such as aviation, defense, automobile, telecommunication, scientific research labs, commercial facilities, and others is fueling the demand for polymer processing aid and thus, propelling its market.
· The blow molded plastics market in China is projected to register a CAGR of over 5% during the forecast period and is expected to reach USD 16 billion by 2025. This is likely to provide lucrative opportunities for the polymer processing aid market.
· The aforementioned factors, coupled with government support, are expected to contribute to the increasing demand for polymer processing aid during the forecast period.
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The polymer processing aid market is fragmented, with the top players accounting for a marginal share of the market. Some of the key companies in the market include 3M, Arkema, The Chemours Company, Mitsubishi Chemical Corporation, and Kaneka Corporation, among others.
- · In April 2021, Avient Corporation announced plans to feature its portfolio of sustainable materials and colorant technologies at Chinaplas 2021, held in Shenzhen in China. The sustainable solutions or products include HiFormer Liquid Polymer Processing Aid for cast and blown polyolefin film and offer significant performance enhancements.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Increasing Demand for Polypropylene from the Packaging Industry
4.1.2 Usage of PVC and HDPE in the Building and Infrastructure Industry
4.2.1 Stringent Governmental Regulations on Plastic Usage
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 Polymer Type
5.1.3 PVC, ABS, and Polycarbonate
5.1.4 Other Polymer Types
5.2.1 Blown Film & Cast Film
5.2.2 Wire and Cable
5.2.3 Extrusion Blow Molding
5.2.4 Fibers and Raffia
5.2.5 Pipe and Tube
5.2.6 Other Applications
5.3 End-user Industry
5.3.2 Building and Construction
5.3.5 IT and Telecommunication
5.3.6 Other End-user Industries
220.127.116.11 South Korea
18.104.22.168 ASEAN Countries
22.214.171.124 Rest of Asia-Pacific
5.4.2 North America
126.96.36.199 Rest of Europe
5.4.4 South America
188.8.131.52 Rest of South America
5.4.5 Middle-East and Africa
184.108.40.206 Saudi Arabia
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 Ampacet Corporation
6.4.4 Avient Corporation
6.4.5 Chenguang Fluoro and Silicone Elastomers Co. Ltd
6.4.7 Daikin Industries Ltd
6.4.9 Evonik Industries AG
6.4.10 Fine Organics
6.4.11 Guangzhou Shine Polymer Technology Co. Ltd
6.4.12 Gujarat Fluorochemicals Limited (GFL)
6.4.13 Han Nanotech Co. Ltd
6.4.14 Kaneka Corporation
6.4.15 LyondellBasell Industries Holdings BV
6.4.16 MicroMB (INDEVCO Group)
6.4.17 Mitsubishi Chemical Corporation
6.4.18 Mitsui Chemicals Inc.
6.4.21 PMC Group Inc.
6.4.22 Shanghai Lanpoly Polymer Technology Co. Ltd
6.4.24 The Chemours Company
6.4.25 Tosaf Compounds Ltd
6.4.26 BASF SE
6.4.27 LG Chem
6.4.28 WSD Chemical Limited
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Electric Vehicles Penetration
7.2 Upcoming Projects in the Telecommunication Sector
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Frequently Asked Questions
What is the study period of this market?
The Polymer Processing Aid Market market is studied from 2017 - 2027.
What is the growth rate of Polymer Processing Aid Market ?
The Polymer Processing Aid Market is growing at a CAGR of >4% over the next 5 years.
Which region has highest growth rate in Polymer Processing Aid Market ?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Polymer Processing Aid Market ?
Asia-Pacific holds highest share in 2021.
Who are the key players in Polymer Processing Aid Market ?
3M, Arkema Group, KANEKA CORPORATION, The Chemours Company, Mitsubishi Chemical Corporation are the major companies operating in Polymer Processing Aid Market .