Antistatic Agents Market: Key Revenue Pockets
The antistatic agents market is projected to grow from USD 437 million in 2019 to USD 594 million by 2024, at a CAGR of 6.3% from 2019 to 2024. The growth of this market can be attributed to the increasing demand for antistatic agents from the packaging, electronics, and textiles industries. Antistatic agents are added to polymers to remove or reduce the static charge that has accumulated over their surfaces either by reducing the generation of electric charge or increasing the rate of charge dissipation, or both. Antistatic agents can be applied both, internally and externally over the surfaces. The external antistatic agents are applied or coated over the surface of materials, while the internal antistatic agents are added to raw materials during the manufacturing of final products.
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Based on form, the antistatic agents market has been segmented into liquid, powder, and others. The others segment includes antistatic agents in the form of granules and emulsions. In terms of value, the liquid segment is estimated to account for the largest share of the market in 2019. The growth of this segment can be attributed to the higher tendency of liquid antistatic agents to migrate over the surfaces of materials as compared to other forms of antistatic agents. The application of liquid antistatic agents results in non-sticky surfaces, and as such, these agents are used in the textiles industry to improve the weaving operations. These ionic liquids can be transparent or translucent and do not hamper the optical properties of the final products.
Based on polymer, the antistatic agents market has been segmented into Polypropylene (PP), Acrylonitrile Butadiene Styrene (ABS), Polyethylene (PE), Polyvinyl Chloride (PVC), and others. The polypropylene segment is estimated to account for the largest share of the antistatic agents market in 2019 in terms of volume. The growth of this segment can be attributed to the increasing use of polypropylene in rigid packaging, flexible packaging, commodity packaging, and film manufacturing.
Based on end-use industry, the antistatic agents market has been classified into packaging, electronics, automotive, textiles, and others. The packaging end-use industry segment is projected to grow at the highest CAGR during the forecast period, in terms of value. The growth of this segment can be attributed to the significant developments taking place in the field of rigid and flexible packaging and increased demand for packaging films & sheets laced with antistatic agents from the food & beverages industry.
The Asia Pacific antistatic agents market is projected to grow at the highest CAGR between 2019 and 2024, in terms of value. The growth the market in the Asia Pacific region is due to increasing disposable income of the middle-class population, easy availability of cheap labor, and increased investments in various industries such as packaging, automotive, textiles, and electronics. Manufacturers of antistatic agents have expanded their material production units in China and India, thereby contributing to the growth of the antistatic agents market in this region. Key players operating in the antistatic agents market are making efforts to tap growth opportunities in the Asia Pacific region either by establishing their manufacturing plants or setting-up their distribution channels in the region to widen their customer reach.
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