Acrylic Processing Aid Market worth $842 Million by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Dec. 18, 2020 /PRNewswire/ -- According to the new market research report "Acrylic Processing Aid Market by Polymer Type (PVC), Fabrication Process (Extrusion, Injection Molding), End-Use Industry (Building & Construction, Packaging, Automotive, Consumer Goods) - Global Forecast to 2025", published by MarketsandMarkets™, the Acrylic Processing Aid Market is projected to reach USD 842 million by 2025, at a CAGR of 6.8% from USD 606 million in 2020.
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Acrylic Processing Aid is an innovative technique to enhance the quality of plastics. Different fabrication processes such as extrusion and injection molding are used to process plastic material with acrylic processing aid. The acrylic processing aid based polyvinyl chloride (PVC) plays a major role for manufacturing strong, flexible, durable, and cost-effective plastics.
PVC is the largest polymer type segment of the Acrylic Processing Aid Market. Asia Pacific was the largest market for acrylic processing aid in 2019, in terms of both volume and value. Factors such as the replacement of conventional material with PVC and rising demand for acrylic processing aid from Asia-Pacific will drive the Acrylic Processing Aid Market.
PVC is a synthetic resin, which is made from the polymerization of vinyl chloride. It has an amorphous structure with polar chlorine atoms and possesses fire retarding properties, durability, and oil & chemical resistance. It is an odorless and solid plastic, mainly used in automobile instrument panels, sheathing of electrical cables, pipes, and doors. PVC provides flexibility that is helpful in making modern automobiles cost-effective, safe, and of high quality. The composition of this material varies depending on requirement of various grades. It also helps in reducing the weight of vehicles because of its lightweight components in comparison to other materials. Most of the PVC resins are fabricated through extrusion, injection molding, thermoforming, calendaring, and blow molding to produce PVC products. This process requires a small amount of Acrylic Processing Aid during fabrication, depending on the type of application; for example, manufacturing of PVC pipes and window components requires less than 1.5 kg of Acrylic Processing Aid for 100 kg of PVC resin.
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Extrusion is projected to be the fastest growing fabrication process in Acrylic Processing Aid Market between 2020 and 2025.
This high growth is backed by the increasing use of acrylic processing aid to produce hollow tubes, pipes, sheets, and films. The recent trend in producing smaller packages with plastics and growing flexible packaging in the hygiene and pharma sector has resulted the growth of extrusion processes and demand for acrylic processing aid. Extrusion is used to process high volume of plastics. The pellets, granules, flakes, or powders are fed into the extrusion machine and melted under high temperature (depending on the type of plastic to be extruded). Single & twin-screw extrusion and die extrusion are the two main types of extrusion techniques. Single & twin extrusion technique is used for melting and pumping of plastic materials, while die extrusion technique is used for the production of different plastic products, such as, pipes, sheet, tubing, and films. Several types of extrusion processes are used for processing plastic materials into finished products.
APAC projected to be fastest growing region for the Acrylic Processing Aid Market during the forecast period
Asia-Pacific is projected to be the largest Acrylic Processing Aid Market between 2020 and 2025. The dominance of this region in the global market is attributed to rising demand from developing countries such as Taiwan, India, and China for infrastructure development, which is one of the major drivers of the market. The increased consumption of acrylic processing aid for fabricating the plastic materials in the region has led to the expansion of plastic manufacturing plants. The per capita consumption of plastics is estimated to rise significantly between 2020 and 2025. The Acrylic Processing Aid Market in Asia-Pacific is projected to register the highest CAGR in terms of value, between the forecasted period.
The key market players profiled in the report include Mitsubishi Chemical Corporation (Japan), Arkema SA (France), Shandong Ruifeng Chemical Co. Ltd. (China), AkdenizChemson (Turkey), The Down Chemical Company (US), Kaneka Corporation (Japan), WSD Chemical Limited (China), Indofil Industries Limited (India), and Novista Group (China).
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