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According to the new market research report “Antistatic Agents Market by Form (Liquid, Powder), Product (Ethoxylated Fatty Acid Amines, Glycerol Monostearate, Diethanolamides), Polymer (PP, ABS, PE, PVC), End-Use Industry (Packaging, Automotive, Electronics), and Region – Global Forecast to 2024″, The antistatic agents market is projected to grow from USD 437 million to USD 594 million by 2024, at a CAGR of 6.3% from 2019 to 2024.
The growth of this market can be attributed to the increasing demand for antistatic agents from the packaging, electronics, and textiles industries.
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The demand for antistatic agents from various end-use industries such as packaging, electronics, textiles, automotive, etc. is continuously increasing to remove or reduce the static charge accumulation that hampers different processes. Rising population, ongoing urbanization, and increasing disposable income of the middle-class population are factors that have led to the growth of the food processing and food packaging sectors, worldwide. Moreover, the organized retail sector is also flourishing, globally, along with the emergence of supermarkets & convenient stores that have led to the increased demand for branded and packaged food items. This, in turn, is fueling the growth of the food packaging sector, which is significantly contributing to the increased demand.
Antistatic agents are widely used in the automotive industry for manufacturing interior and exterior body parts of automobiles. These agents are used to eliminate the static charge in plastic components that are used in fuel systems, electrical and electronic components, dashboards, seat belts, and engines of automobiles. With the continuous increase in global automobile production due to the growing demand for private and passenger cars, the consumption of antistatic agents in the automotive industry is expected to increase during the forecast period. Moreover, technological advancements in the automotive industry have also contributed to the increased production of automobiles. This has further resulted in the increased demand for antistatic agents in this industry.
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The antistatic agents market is projected to grow from USD 437 million to USD 594 million by 2024, at a CAGR of 6.3% from 2019 to 2024. The growth of this market can be attributed to the increasing demand for antistatic agents from the packaging, electronics, and textiles industries. Antistatic agents are added to polymers to remove or reduce the static charge that has accumulated over their surfaces either by reducing the generation of electric charge or increasing the rate of charge dissipation, or both. This static charge accumulation results in processing complexities, attraction and deposition of dust particles, explosions, or fire hazards.
Major companies operating in the antistatic agents market are BASF SE (Germany), Arkema (France), Clariant (Switzerland), Croda International PLC. (UK), DowDuPont (US), Evonik Industries AG (Germany), Nouryon (Netherlands), Solvay S.A. (Belgium), PolyOne Corporation (US), Riken Vitamin Co., Ltd. (Japan), Mitsubishi Chemical Corporation (Japan), and Kao Group (Japan). These companies have adopted various growth strategies such as new product launches, expansions, mergers & acquisitions, and partnerships to strengthen their position in the antistatic agents market. They are also investing in R&D activities to strengthen their sales and distribution networks and enhance their visibility in the antistatic agents market.
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Clariant (Switzerland) is one of the leading producers of antistatic agents across the globe. The company is focusing on new product launches as well as expansions to consolidate its financial position in the antistatic agents market. In September 2017, Clariant launched an amide/amine-free anti-static concentrate for clean-room and Active Pharmaceutical Ingredient (API) films, which are used in the production of pharmaceuticals. This product launch helped the company in increasing its market presence by producing bio-friendly products and enabling manufacturers in the medical and pharmaceutical sectors to control and minimize risks such as attracting dust and mitigating the dissipative charges. In April 2016, the company introduced AddWorks LXR 408 mainly for the packaging industry to increase the productivity, sustainability, and functionality of the packaging products. AddWorks LXR 408 provides a durable antistatic property to plastic films mainly used in flexible packaging. This solution helps the manufacturers to optimize raw material consumption and lowers production costs.
Kao Group (Japan) is another key player in the antistatic agents market. The company expanded its production capacity of oleochemicals by completing the joint venture between Kao and PT Apical of Apical Group on May 13, 2019. This joint venture aimed at increasing the production capacity of fatty acids, which are required to manufacture antistatic agents. This joint venture is also expected to enable Kao Corporation to extend its reach and strengthen its supply chain to produce high-quality products for a wide range of customers.
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