Clarifying Agent Market Size, Share, Global Analysis 2023

According to Precision Business Insights (PBI) latest report the clarifying agent market was valued at USD 348.7 million in 2022 and is expected to grow at 7.3% CAGR during the forecast period 2022 to 2029. The increasing demand for different transparent polymers in consumer products, the demand for clear and visually appealing beverages in the food industry and the demand for clarifying agents in the pharmaceutical industry to clarify medications and ensure their purity are major drivers propelling the clarifying agent industry. Furthermore, the growing development of environmentally friendly substitutes for plastic packaging, and innovative filtering techniques to improve accuracy and efficiency in contaminant removal increases the opportunities and broadens the market. Moreover, packaging provides a strategic advantage in the food industry by opening up new opportunities for new distribution channels, providing better visualization presentation, lowering the cost, differentiating and highlighting the product and brand and improving the logistics services for customers and thereby leading to the surge of market. Furthermore, the powder form of clarifying agent for the packaging of consumer goods has experienced a surge in the market and is expected to increase over the forecast years.

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The clarifying agent market is segmented based on form, type, on basis of polymer, end-user industry and geography.

Based on the form, the market is segmented into the following:
• Powder
• Granules
• Liquid

Based on the type, the market is segmented into the following:
• Natural
• Synthetic

Based on the polymer, the market is segmented into the following:
• PP
• PET
• Others

Based on the end-user industry, the market is segmented into the following:
• Packaging
• Pharmaceutical
• Cosmetic
• Automotive
• Food and Beverage
• Electronic

Based on Geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Based on End-User Industry, the packaging industry is currently dominating the clarifying agent market. The segment is expected to grow at the highest CAGR, in terms of value during the forecast period owing to the growing urban population and increasing demand for plastic packaging from the food and beverage industry. The industry is currently booming in the Asia Pacific and is expected to grow due to the disposable income of consumers and changing lifestyles. The increased demand for vegetables and packaged fruits globally is also driving the demand for clarifying agents, where transparent packaging is necessary. For convenience in handling and disposal and savings in transportation costs the consumer preference is shifting from rigid to flexible packaging which further is expected to support the growth of the market.

Europe Leads Clarifying Agents Market
The clarifying agent market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The Europe is accounted for major revenue share in global clarifying agent market and the market is driven by innovation, industrial expansion and technological development in the packaging industry. Germany is expected to offer healthy growth opportunities, it is expected to witness high growth during the forecast period because of the high use of polymer products in packaging industry. The major players operating in Europe include BASF SE, and ALTANA among others that owe to the clarifying agent market success in Europe. North America Clarifying agents market is also expected to grow at a high CAGR during the forecast period.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players

The clarifying agent market further reveals that the key players increasingly adopting strategies such as the launch of newer products, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In September 2022, Milliken & Company launched an impressive new clarifier plant in Blacksburg, South Carolina

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Key player profiles in the clarifying agent market report are Milliken & Company, BASF SE, PolyOne, ADEKA Corporation, Avient Corporation, New Japan Chemical CO., Ltd, GCH Technology Co., Ltd, Qingdao Jade New Material Technology, Guangzhou Bolong Chemical Co. Ltd, Ta Haw Enterprise Co. Ltd and Shandong Rainwell New Materials Technology Co., Ltd

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This release was published on openPR.