Acrylic Processing Aid Market worth $842 million by 2025 | Key players operating in the market include Mitsubishi Chemical, Arkema SA, Shandong Ruifeng Chemical, Akdeniz Chemson, Dow

According to recent market research "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", 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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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.

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.

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The acrylic processing aid market size is estimated to be USD 606 million in 2020 and is expected to reach USD 842 million by 2025, at a CAGR of 6.8% during the forecast period. Factors such as replacement of conventional material with PVC and rising demand for acrylic processing aid from Asia-Pacific will drive the acrylic processing aid market. The major restraint for the market will be less R&D expenditure in emerging market. However, the increasing demand from building & construction and automotive applications will act as an opportunity for the market.

The key market players profiled in the report include Mitsubishi Chemical Corporation (Japan), Arkema SA (France), Shandong Ruifeng Chemical Co. Ltd. (China), Akdeniz Chemson (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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Mitsubishi Chemical Corporation is one of the major players in the acrylic processing aid market. In order to expand its business, the company is focusing on enhancing its market reach by opening plants to increase the capacity. For instance, in September 2019, Mitsubishi Chemical Corporation’s (Japan) consolidated subsidiary MC PET Film Indonesia has decided to increase the production of polyester film from 20,000 metric tons to 45,000 metric tons by the end of 2021. Similarly, In January 2020, Dow Chemical Company has announced its plans to add a new furnace to its ethylene production facility, thereby expanding the capacity up to 130,000 metric tons.

The companies also adopted new product launch as a strategy to expand their product portfolio and market presence. For instance, in July 2020, Arkema released PLASTISTRENGTH® 562 NA process aid, designed for PVC converters. The new product offers a consistent PVC fusion and filler incorporation, better melt strength and designed for rigid and semi-rigid PVC. Similarly, In April 2020, Novista Group introduced a new product in its Novista’s Topadd series, TP-20. It can be used in the production of bottles, fil/sheet and in construction industry.

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