Market Overview
The polymer processing aid is used in the manufacturing of plastics to expand the quality of the finished product. Polymer processing aid is added to molten polymers when they are subjected to the extrusion process. Polymer processing aids enhance the smoothness and surface aspect, improve the film transparency, and boosts the product appearance as well as the mechanical properties of the polymer.
Polymer Processing Aid Market Dynamics
The polymer processing aid market is mainly driven by the increasing demand in the manufacturing of PE films. Growing demand for new advanced materials is propelling the demand for polymer processing aid which helps in the molding of materials into products. Polymer processing aid will witness a rise in demand because of its use in producing high-quality polymer products which can be further used in aviation, defense, telecommunications scientific research labs, automobile, industrial and commercial facilities, manufacturing companies, and much more.
The demand for plastics in end-use businesses
There is a huge demand for plastics in end-use industries such as automotive, consumer goods, packaging, and construction which is expected to drive the growth of the industry. Polymers processing aid also reduces time, consumes little energy, aids in constant production, helps reduce cycle times, consumes little energy, and others.
Growing demand for battery electric vehicles
The growing penetration of electric vehicles across developed and developing nations is expected to spur the growth of the polymer processing aid market during the forecast period. According to International Energy Agency (IEA), the Netherlands, Japan, and Norway are prime candidates in the electronic vehicles segment. According to EIA, Norway held a share of 46% in terms of the global new electric vehicle sales in 2018. With the increasing demand for polymer from electric vehicles and the growing need to improve fuel efficiency, manufacturers are emphasizing reducing the vehicle’s weight.
Availability of various products
Polymer processing aids are used in various extrusion processes such as HDPE Pipes, LLDPE blown film, HDPE Blow molding, and PP Sheets and foams. HDPE pipe is widely used for fluid and gas transfer applications. Polymers made from a thermoplastic such as HDPE (high-density polyethylene), are often used to replace aging concrete or steel mains pipelines owing to their high level of impermeability and strong molecular bond make them suitable for high-pressure pipelines. The blown film & cast film have various products such as agricultural film, food & non-food packaging film, and tapes. Thus, demand for a wide range of products will drive the growth of the polymer processing aid market during the forecast period.
COVID-19 Impact Analysis ON Polymer Processing Aid Market Growth
The outbreak of COVID-19 has had a significant impact on global markets as major economies across the world are compelled to impose lockdown due to this pandemic. Owing to this major lockdown, suddenly the consumer market started to show zero interest in purchasing any goods. One of the major difficulties the market is facing is the shutdown of all kinds of state and local transportation, especially for non-essential goods. A global crisis for all sectors including shipping was hit by slowing demand in goods’ production and exports. This led to a slowdown in the market for polymer processing aid market.
Polymer Processing Aid Market Segment Analysis
Based on the type, the global polymer processing aid market has been classified as Polypropylene, Polyethylene, and others.
The polypropylene segment accounted for the highest share during the forecasting period
The polypropylene segment held the largest share in the market in 2020 and is expected to witness high growth during the forecast period. The market growth is primarily attributed to the increasing usage of polypropylene in the construction and electrical & electrons industries and the growing demand for lightweight vehicles. Its superior characteristics such as ease of forming shapes, heat and chemical resistance, and high resistance to impact are driving the product demand. It is widely used in the fabrication of car bumpers, gas cans, and even the carpet fibers of your car's interior flooring. Moreover, it is a more economical alternative to peer plastics of similar strength and durability, which helps drive down the cost of manufacturing.
Based on the application, the global polymer processing aid market has been classified as Blown Film & Cast Film, Wire & Cable, and Extrusion Blow Molding.
Blown and cast film segment accounted for the highest share during the forecasting period
Blow and cast film held the largest share in the polymer processing aid market. Blown films are manufactured by extruding molten resin vertically through a circular die. The high demand for blow and cast film is attributed to the growing demand for efficient packaging solutions from various eduse industries and the high growth of the Fast Moving Consumer Goods (FMCG) Industry during the forecast period.
Polymer Processing Aid Market Geographical Analysis
Based on geography, the study analyzes the Global polymer processing aid market in the global market, including Europe, Asia-Pacific, North America, South America, and the Middle East & Africa.
Asia-pacific leads the Global Polymer Processing Aid Market throughout the forecast period
APAC dominated the polymer processing aid market, followed by North America and Europe. Countries such as India & China are key contributors to APAC. According to the trade map, China and India are the largest importers of polypropylene in 2019. The high growth of the polymer processing aid market in the Asia Pacific is attributed to the growing demand for polyethylene, polypropylene, and other polymers from numerous end-use industries such as automotive, construction, packaging, and consumer goods. Plastics are primarily used to replace traditional materials, including wood and metal, in various applications to make them lighter, durable, and 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.
Polymer Processing Aid Companies and Competitive Landscape
The global polymer processing aid market is highly competitive. The key players in the global polymer processing aid market which are contributing to the growth of the global market include 3M Company (U.S.), A. Schulman, Inc. (U.S.), Arkema S.A. (France), Clariant AG (Switzerland), Daikin America, Inc. (Japan), Fine Organics (India), Micro-Epsilon (Lebanon), PolyOne Corporation (U.S.), Tosaf Group (Israel), and Wells Plastics Ltd. (U.K.) among others.
3M Company
Overview: The 3M Company is an American multinational conglomerate corporation operating in the fields of industry, worker safety, US health care, and consumer goods. The company produces over 60,000 products under several brands, including adhesives, abrasives, laminates, personal protective equipment, passive fire protection, window films, paint protection films, dental and orthodontic products, electrical and electronic connecting and insulating materials, medical products, car-care products, electronic circuits, healthcare software, and optical films. It is based in Maplewood, a suburb of Saint Paul, Minnesota
Product Portfolio: 3M Company offers adhesives, abrasives, laminates, passive fire protection, personal protective equipment, and others.
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• Visualize the global polymer processing aid market segmentation composition by type, application, and region, highlighting the critical commercial assets and players.
• Identify commercial opportunities in the global polymer processing aid market by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of global polymer processing aid market - level 3 segmentation.
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The global polymer processing aid market report would provide access to an approx. 45 market data table, 41 figures, and 180 pages.
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