Nucleating and Clarifying Agents Market worth $3.8 billion by 2024 | Key Players include Milliken & Company, ADEKA CORPORATION, BASF SE, Clariant AG, PolyOne Corporation, Imerys S.A.

According to recent market research "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", The global nucleating and clarifying agents market size 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. Growth in this market is attributed mainly to the rise in the consumption of plastic across the globe and increase in packaging applications.

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The global nucleating and clarifying agents market size 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. The major factors driving this market’s growth include rise in consumption of plastic across the globe and increase in packaging applications. Nucleating and clarifying agents are plastic additives used to impart transparency and improve properties such as thermal stability, impact resistance, and crystallization temperature of plastic products.

Based on form, the nucleating and clarifying agents market has been segmented into powder, granules, and liquid. The powder segment accounts for the largest market share in 2018, owing to its 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. Powdered nucleating and clarifying agents are in the form of small particles that offer large surface areas and reduce difficulties while compounding with other chemicals or polymers.

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Nucleating and clarifying agents are plastic additives used to impart transparency and improve properties such as thermal stability, impact resistance, and crystallization temperature of plastic products. The global nucleating and clarifying agents market size 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% during the forecast period. Growth in this market is attributed mainly to the increasing consumption of plastic across the globe and increase in the packaging applications.

Some of the major companies operating in the nucleating and clarifying agents market include Milliken & Company (US), ADEKA CORPORATION (Japan), BASF SE (Germany), Clariant AG (Switzerland), PolyOne Corporation (US), Imerys S.A. (France), Zibo Rainwell Chemical Industry Co., Ltd. (China), GCH Technology Co., Ltd. (China), Plastiblends India Limited (India), and New Japan Chemical Co., Ltd. (Japan). These companies have adopted various strategies, such as new product developments/launches, expansions, acquisitions, and collaboration, to strengthen their position in the nucleating and clarifying agents industry. They also invest in R&D activities to enhance their sales, distribution networks, and market visibility.

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Milliken & Company (US) is one of the leading players in the nucleating and clarifying agents market. The company expanded its chemical manufacturing plant and knowledge center in Singapore to meet the high demand for chemicals from countries such as China and India in August 2019. The new manufacturing facility is expected to aid in the production of Hyperform nucleating agents for polypropylene and polyethylene as well as specialty colorants for applications such as houseware, personal care products, industrial and institutional cleaners, and polyurethane foams. This expansion is expected to help the company increase its market share in the Asia Pacific region. Moreover, in March 2019, the company plans to increase the production capacity of its clarifiers by 50% in the US. This expansion is expected to be undertaken to meet the increase in demand and reduce the carbon footprint during the manufacture of PP products.

ADEKA CORPORATION (Japan) is another key player in the nucleating and clarifying agents market. ADEKA CORPORATION acquired 17.1% of the stocks of SHOWA KOSAN Co, Ltd., a Japan-based chemical trading company. This acquisition was undertaken to develop and maintain business relations between the two companies and for the distribution of ADEKA CORPORATION products such as polymer additives, epoxy and urethane resins, as well as materials used in electronics and IT products. This acquisition has helped the company increase its share in the nucleating and clarifying agents market and boost shareholder value by increasing profit.

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