The global market for polymer processing aids is projected to grow from US$1.71 bln in 2016 to US$2.21 bln by 2021, at a CAGR of 5.2% between 2016 and 2021, as per MarketsandMarkets. Increasing applicability of plastics in varied end-use industries such as automotive, building & construction, consumer goods, and packaging is propelling the growth of the global polymer processing aid market.
The polypropylene segment of the global polymer processing aid market is expected to grow at the highest CAGR between 2016 and 2021, in terms of value. This growth is mainly attributed to the rising demand for lightweight vehicles and increasing usage of polypropylene in the automotive sector. Moreover, expansion of the automotive industry in the Asia-Pacific region is further driving the demand for polypropylene. Polypropylene carrier resins are used in the production of additive masterbatch, owing to their high melting point, water resistance, low electrical conductivity, good chemical & fatigue resistance, good hinge property, and flexibility.
The blown film & cast film segment is projected to grow at the highest CAGR between 2016 and 2021, in terms of value, due to the increasing demand for blown film & cast film from packaging and agriculture industries. In addition, the increasing usage of polymer processing aids to produce blown films & cast films to meet the rising demand for high-quality clean films in China, India, Japan, and South Korea is another significant factor propelling the growth of the Polymer Processing Aid Market in blown film & cast film application. Blown films are extremely durable and have high mechanical strength, whereas, cast films are soft and highly flexible. The use of PPA prevents materials from sticking to the surface of machineries, while processing of polymers into plastics. PPA also helps improve surface quality, eliminate melt fractures, maintain operational temperature, and reduce die deposits.
The Asia-Pacific polymer processing aid market is expected to grow at the highest CAGR during the forecast period, in terms of value. Increasing demand for plastics from varied end-use industries in the Asia-Pacific region is driving the growth of the polymer processing aid market.
Leakage leads to shutdown of Huntsman ethylene oxide unit in Port Neches, Texas
Global Vacuum packaging market to surpass US$22.8 bln by 2024
Chlorinated Polyethylene demand estimated to register 8% CAGR from 2016 to 2021
Fluor reports low net profit on US$154 mln impairment charge for CPC petrochem expansion in Baytown
Crude prices rise from 5 week lows on attack in Nigeria, weaker US dollar
Inter Pipeline Ltd. to decide by 2017 on plans to build 2 propane to propylene plants
Global petrochemicals market to be driven by demand from Asia Pacific until 2020
University of Konstanz Develops a More Sustainable Recycling Method for Polyethylene-Like Plastics
Guidelines on Penalty for Violation of Plastic Waste Management Rules, 2016