The Global Nucleating and Clarifying Agents Market is Projected to Reach USD 3.8 Billion by 2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 3, 2020--
The “Nucleating and Clarifying Agents Market by Form (Powder, Granules, Liquid), Polymer (Polypropylene, Polyethylene, Polyethylene Terephthalate), Application (Packaging, Consumer Products, Automotive, Electronics), Region - Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.
The global nucleating and clarifying agents market is estimated to be USD 2.8 billion in 2019 and is projected to reach USD 3.8 billion by 2024, at a CAGR of 6.1% from 2019 to 2024. Increasing consumption of plastic across the globe and growth in packaging applications are the main factors that have led to the growth the nucleating and clarifying agents industry. Increasing awareness about negative impact of plastics is restraining the growth of the market.
The powder segment is estimated to account for the largest share in 2019. The powder segment accounts for the largest market share in 2018, owing to capability to generate a smooth texture on the final product surface and reduce the phenomenon of pinhole, big ripple, and snow pattern caused by static defects. The powder form of nucleating and clarifying agents is in the form of small particles that offer large surface areas and reduce difficulties while compounding with other chemicals or polymers.
Based on the polymer, the PP segment is estimated to account for the largest share of the market in 2019. PP is a semi-crystalline polymer and takes a long time to crystallize while processing. Thus, nucleating and clarifying agents are used to accelerate the crystallization rate, improve optical properties, and increase the rate of production. The demand for nucleating and clarifying agents for PP polymers is expected to increase due to an increase in the market for packaging and consumer products.
The packaging segment is anticipated to be the largest market for nucleating and clarifying agents during the forecast period in terms of value and volume. Nucleating and clarifying agents are required in packaging applications to enhance mechanical properties, thermal stability, and impart transparency to the final products, which are expected to drive the market for packaging application. The major drivers that aid growth of the packaging application are rapid urbanization, changing consumer lifestyle, economic trends, rising health consciousness among different classes of consumers, and developments in packaging materials and technologies.
By region, the Asia Pacific nucleating and clarifying agents market is expected to grow at the highest rate between 2019 and 2024. The market growth in this region is attributed mainly to the higher purchasing power of the population, which has led to an increase in the demand for packaged food and superior quality consumer products, in turn, driving the market for nucleating and clarifying agents in the region during the forecast period.
This report covers the nucleating and clarifying agents market by form, polymer, application, and region. It aims at estimating the size and future growth potential of the market across various segments. The report also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.
The report provides insights on the following:
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For more information about this report visit https://www.researchandmarkets.com/r/597dz7
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SOURCE: Research and Markets
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PUB: 01/03/2020 09:20 AM/DISC: 01/03/2020 09:20 AM