Polymer Processing Aid Market size is forecast to reach $2.9 billion by 2025, after growing at a CAGR of 6.2% during 2020-2025. With rise in the consumption of plastics in various end-use industries, such as consumer goods, automotive, building & construction, and packaging is driving the polymer processing aid market. Growing public interest towards sustainable and environment-friendly products will further create small hurdles for the overall market demand for Polymer Processing Aid during the forecast period.
Type – Segment Analysis
Polypropylene segment holds the largest share in the Polymer Processing Aid market. This growth is mainly attributed to the rising demand for lightweight vehicles and increasing usage of polypropylene in the automotive sector. Being a thermoplastic polymer, it can easily be formed into almost any shape. It has excellent chemical and heat resistance and is generally resistant to impact. Given this plastic’s resume, you will frequently find it in car bumpers, gas cans and even the carpet fibers of your car’s interior flooring. It’s also a more economical alternative to expensive plastics of similar strength and durability, which helps drive down the cost of manufacturing. Polybutene copolymer is commonly used for producing processing aid for polymers.
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Application – Segment Analysis
Blow & cast film holds the primary market for Polymer Processing Aid. Blown films, sometimes referred to as tubular films, are manufactured by extruding molten resin vertically through a circular die. Introducing air through the center of the die creates a bubble. The air drives the bubble upward, and slowly cools the material. Nip rollers flatten the material into a tube that can be reeled for creating bags and pouches, or slit and then reeled as a flat sheet of film. Blown films are pre-stretched by virtue of their manufacturing process.
Cast films are made by extruding melted resin horizontally through a flat die to create a sheet of material that is pinned to a highly polished chilled roller by means of an air curtain or vacuum box. Additional chill rollers quickly cool the film prior to trimming and rolling. Cast films are minimally pre-stretched allowing for improved depth of drawing for thermoforming operations. Typically, cast films have an even distribution of polyolefins due to increased gauge consistency due to the manufacturing process.
Geography – Segment Analysis
APAC dominated the Polymer Processing Aid market with a share of more than xx%, followed by North America and Europe. Countries such as India & China are the major region in APAC. According to trademap China and India are largest importers of polypropylene in 2019 and as polypropylene is used by majority of the end use industries for producing various products. So, with increasing demand for polypropylene with other polymers, the Polymer processing aid market is expected to grow in the forecast period. Plastics are primarily used to replace traditional materials, including metal and wood, in products to make them lighter, more durable and more cost effective. This is particularly prevalent in automotive manufacturing, as decreasing the weight of a vehicle can help cut carbon emissions, increase fuel economy and achieve more environmentally friendly end-products.
Drivers – Polymer Processing Aid Market
Growing demand for battery electric vehicles
The shift towards electric vehicles in the developed and developing nations would hamper the growth of existing IC engine vehicles and also help the Polymer Processing Aid market over the forecast timeframe. According to IEA, Norway, the Netherlands and Japan are frontrunners in the electronic vehicles segment. Norway held the share of 46 percent in terms of the global new electric car sales as reported by IEA in 2018. So, with the increasing demand for electric vehicle, manufacturer will look to lower down the vehicle’s weight for which Polymer processing aids can become a disguise.
Availability of various product
They are used in all extrusion processes such as LLDPE blown film, HDPE Pipes, PP Sheets and foams and HDPE Blow molding. HDPE pipe is a type of flexible plastic pipe used for fluid and gas transfer and is often used to replace ageing concrete or steel mains pipelines. It is made from the thermoplastic HDPE (high-density polyethylene), its high level of impermeability and strong molecular bond make it suitable for high pressure pipelines. Whereas blown film & cast film have various products such as food & non-food packaging film, agricultural film and tapes. So, because to that much variety of products the polymer processing aid market is growing.
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Challenges – Polymer Processing Aid Market
Implementation of Stringent Environment Regulations
Governments globally are focusing increasing adoption of sustainable and environment friendly products and implementation of stringent government regulations towards plastic usage, will create hurdles for the Polymer Processing Aid market. Because of the increasing pollution and global warming problems, governments are focusing to minimize the usage of plastic due to which the manufacturing companies are facing problems and with the availability of replacements such as jute bags instead of plastic for handbags, it may hamper the market growth of Polymer processing aid market.
Impact of COVID 19
The rapid spread of coronavirus has had a major impact on global markets as, major economies of the world are completely lockdown due to this pandemic. Because of this major lockdown, suddenly all the consumer market has started to show zero interest towards purchasing any goods. One of the major difficulties, market is facing are the shutdown of all kinds of transportation. Global crisis for all sectors including shipping, which was hit by slowing demand in goods’ production and exports had slowdown the market for Polymer Processing Aid Market.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Polymer Processing Aid market. Major players in the Polymer Processing Aid Market are 3M Company, A. Schulman, Inc., Arkema S.A., Clariant AG, Daikin America, Inc., among others.
In June 2018, Toray Industries acquired a plot measuring about 350,000 m2 in Andhra Pradesh, India, for its local subsidiary Toray Industries (India) Private Limited. The company has decided to establish a new base for its polypropylene (PP) spunbond for hygiene materials business, whose market is expected to expand along with the increasing demand for disposable diapers
Asia-Pacific dominates the Polymer Processing Aid market owing to increasing demand from applications such as consumer goods, automotive, building & construction, and packaging industries.
The growing consumption of plastic is likely to aid in the market growth of Polymer Processing Aid.
Increasing adoption of sustainable and environment friendly products, implementation of stringent government regulations create hurdles for the Polymer Processing Aid market.
COVID-19 pandemic is expected to be the challenge for Polymer Processing Aid Market till the early 2021.
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