Polymer Processing Aid Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.76 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Polymer Processing Aid Market Analysis
The Polymer Processing Aid Market size is expected to grow from USD 1,787.62 million in 2023 to USD 2,255.55 million by 2028, registering a CAGR of 4.76% during the forecast period.
The COVID-19 pandemic harmed the polymer processing aid market. Global lockdowns and severe rules enforced by governments resulted in a catastrophic setback as most production hubs were shut down. Nonetheless, the business is recovering from 2021 and is expected to rise significantly in the coming years.
- Over the medium term, major factors driving the studied market include increasing demand for polymer processing aids in blown film and cast film and rising demand from the wire and cable segment.
- However, quality difficulties and high product costs due to polymer processing aid depending on the polymer utilized during the extrusion process are important barriers projected to stymie market expansion.
- Nevertheless, the increasing need for polymer processing aid in the fiber and raffia company, forthcoming telecommunications projects, and increasing electric vehicle penetration are expected to offer various lucrative opportunities for the market's growth.
- The Asia-Pacific region dominated the polymer processing aid market globally, with the highest consumption from countries such as China, India, and Japan.
Polymer Processing Aid Market Trends
Increasing Demand from Blown Film and Cast Film Segment
- A polymer processing aid is used during polymer formulation when molten polymers are subjected to extrusion processes to 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 and cast film segment.
- According to the Packaging Association and Plastics Industry Association, the global plastic cast film technology market is estimated to be worth USD 14,486.6 million in 2023. The cast film technique is mostly utilized in food and industrial packaging.
- 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.
- According to the International Mining and Resources Conference (IMARC), the global market value of food packaging was USD 363 billion in 2022 and is expected to reach USD 512 billion in 2028.
- Moreover, according to the Plastics Industry Association, the packaging segment of the global plastic film market is predicted to reach 30,280.8 kilotons by 2023. Plastic film packaging is utilized in industries such as food packaging, pharmaceutical packaging, and medical packaging.
- The polymer processing aid market is expected to grow rapidly over the forecast period due to all the abovementioned factors.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for polymer processing aid during the forecast period. Due to the increasing demand for plastics from various end-user industries like packaging, automotive, and building and construction, the demand for polymer processing aid is increasing in countries like China, India, Japan, and South Korea.
- According to the Packaging Association and Plastics Industry Association, the Asia-Pacific plastic cast film technology market is estimated to be worth USD 6,263.6 million in 2023. The cast film technique is mostly utilized in food and industrial packaging.
- China is amid a construction mega-boom. The country includes the largest building market in the region, making up 20% of all construction investments globally. The Chinese government is estimated to include an annual limit for new infrastructure bonds worth CNY 3.85 (~USD 572.49) trillion in 2022, up from CNY 3.65 trillion (~USD 542.75 million) in 2021.
- Polymer processing helps improve product surface quality, eliminate melt fractures, and reduce 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. It 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 manufacturing.
- 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.
- According to Organisation Internationale des Constructeurs d'Automobiles (OCIA), Asia-Pacific, the largest automotive production region, also witnessed a growth rate of 7% in 2022. The production of motor vehicles increased from 46.76 million in 2021 to 50.02 million in 2022, respectively.
- Moreover, around 27.02 million motor vehicles were produced in China in 2022, compared to 26.12 million motor vehicles produced in 2021, witnessing a growth rate of about 3%.
- According to the Directorate General of Civil Aviation (DGCA), India's aviation sector rapidly expanded. The industry had established itself as a cost-effective and trustworthy alternative to time-consuming and lengthy excursions by road or rail. With a discernible development pattern, India was predicted to become one of the world's major aviation markets by 2034. As of fiscal year 2022, IndiGo was the market leader in the sector, accounting for around 55% of the market.
- The above factors and government support are expected to increase the demand for polymer processing aid during the forecast period.
Polymer Processing Aid Industry Overview
The polymer processing aid market is fragmented, with the top players accounting for a marginal market share. Some of the key companies in the market include 3M, Arkema, The Chemours Company, Mitsubishi Chemical Corporation, and Kaneka Corporation, among others.
Polymer Processing Aid Market Leaders
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3M
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KANEKA CORPORATION
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The Chemours Company
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Mitsubishi Chemical Corporation
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Arkema
*Disclaimer: Major Players sorted in no particular order
Polymer Processing Aid Market News
- January 2023: Ampacet Corporation has introduced PFAS free polymer processing aid 1001316-N which can be utilized in blown film extrusion for numerous end use applications.
- October 2022: Clariant introduces new polymer processing additives at K 2022 to support the long-term evolution of polymers. This new product facilitates the reuse of plastic in numerous consumer applications.
Polymer Processing Aid Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Drivers
- 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
- 4.1.3 Other Drivers
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4.2 Restraints
- 4.2.1 Quality Difficulties and High Product Costs due to Polymer Processing Aid
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 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 (Market Size in Value
-
5.1 Polymer Type
- 5.1.1 Polyethylene
- 5.1.1.1 LLDPE
- 5.1.1.2 LDPE
- 5.1.1.3 HDPE
- 5.1.2 Polypropylene
- 5.1.3 PVC, ABS, and Polycarbonate
- 5.1.4 Other Polymer Types
-
5.2 Application
- 5.2.1 Blown Film and 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
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5.3 End-user Industry
- 5.3.1 Packaging
- 5.3.2 Building and Construction
- 5.3.3 Transportation
- 5.3.4 Textiles
- 5.3.5 IT and Telecommunication
- 5.3.6 Other End-user Industries
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5.4 Geography
- 5.4.1 Asia-Pacific
- 5.4.1.1 China
- 5.4.1.2 India
- 5.4.1.3 Japan
- 5.4.1.4 South Korea
- 5.4.1.5 ASEAN Countries
- 5.4.1.6 Rest of Asia-Pacific
- 5.4.2 North America
- 5.4.2.1 United States
- 5.4.2.2 Canada
- 5.4.2.3 Mexico
- 5.4.3 Europe
- 5.4.3.1 Germany
- 5.4.3.2 UK
- 5.4.3.3 France
- 5.4.3.4 Italy
- 5.4.3.5 Russia
- 5.4.3.6 Rest of Europe
- 5.4.4 South America
- 5.4.4.1 Brazil
- 5.4.4.2 Argentina
- 5.4.4.3 Rest of South America
- 5.4.5 Middle-East and Africa
- 5.4.5.1 Saudi Arabia
- 5.4.5.2 South Africa
- 5.4.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Abalysis (%) **/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 3M
- 6.4.2 Ampacet Corporation
- 6.4.3 Arkema
- 6.4.4 Avient Corporation
- 6.4.5 BASF SE
- 6.4.6 Clariant
- 6.4.7 DAIKIN INDUSTRIES, Ltd.
- 6.4.8 Dow
- 6.4.9 Evonik Industries AG
- 6.4.10 Fine Organic Industries Limited
- 6.4.11 Guangzhou Shine Polymer Technology Co. Ltd
- 6.4.12 Gujarat Fluorochemicals Limited (GFL)
- 6.4.13 HANNANOTECH CO., LTD.
- 6.4.14 Kaneka Corporation
- 6.4.15 LG Chem
- 6.4.16 MicroMB (INDEVCO Group)
- 6.4.17 Mitsubishi Chemical Corporation
- 6.4.18 Mitsui Chemicals Inc.
- 6.4.19 Nouryon
- 6.4.20 Plastiblends
- 6.4.21 PMC Group, Inc.
- 6.4.22 Shanghai Lanpoly Polymer Technology Co. Ltd
- 6.4.23 Solvay
- 6.4.24 The Chemours Company
- 6.4.25 Tosaf Compounds Ltd
- 6.4.26 WSD CHEMICAL COMPANY
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Increasing Electric Vehicles Penetration
- 7.2 Upcoming Projects in the Telecommunication Sector
Polymer Processing Aid Industry Segmentation
Polymer Processing Aids (PPAs) are additives added to the base polymer to improve the material's processability, processing properties, and the end product's quality. The polymer processing aid market is segmented based on polymer type, application, end-user industry, and geography. The market is segmented by polymer type into polyethylene, polypropylene, PVC, ABS, polycarbonate, and other polymer types. The market is segmented by application 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. Each segment's market sizing and forecasts are based on revenue (USD).
| Polymer Type | Polyethylene | LLDPE |
| LDPE | ||
| HDPE | ||
| Polymer Type | Polypropylene | |
| PVC, ABS, and Polycarbonate | ||
| Other Polymer Types | ||
| Application | Blown Film and Cast Film | |
| Wire and Cable | ||
| Extrusion Blow Molding | ||
| Fibers and Raffia | ||
| Pipe and Tube | ||
| Other Applications | ||
| End-user Industry | Packaging | |
| Building and Construction | ||
| Transportation | ||
| Textiles | ||
| IT and Telecommunication | ||
| Other End-user Industries | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| ASEAN Countries | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| UK | ||
| France | ||
| Italy | ||
| Russia | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Polymer Processing Aid Market Research FAQs
What is the current Polymer Processing Aid Market size?
The Polymer Processing Aid Market is projected to register a CAGR of 4.76% during the forecast period (2024-2029)
Who are the key players in Polymer Processing Aid Market?
3M, KANEKA CORPORATION, The Chemours Company, Mitsubishi Chemical Corporation and Arkema are the major companies operating in the Polymer Processing Aid Market.
Which is the fastest growing region in Polymer Processing Aid Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Polymer Processing Aid Market?
In 2024, the Asia-Pacific accounts for the largest market share in Polymer Processing Aid Market.
What years does this Polymer Processing Aid Market cover?
The report covers the Polymer Processing Aid Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Polymer Processing Aid Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Polymer Processing Aid Industry Report
Statistics for the 2024 Polymer Processing Aid market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Polymer Processing Aid analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
