Press release
Acrylic Processing Aid Market Growth And Forecast 2023-2030
The Global Acrylic Processing Aid Market is poised for remarkable growth, projecting a Compound Annual Growth Rate (CAGR) of 7.10% during the forecast period spanning from 2023 to 2030. Processing aids, known for enhancing the melting processability of polymeric compounds economically and with high quality, are integral in various Polyvinylchlorides (PVC) applications. These applications range from rigid foam and tubing to window profiles, trim boards, and sheets.
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Market Dynamics and Trends:
The increasing demand for acrylic processing aids in industries such as automotive, consumer goods, building & construction, and packaging is a significant driver for market growth. The market is propelled by the substitution of traditional materials with PVC, coupled with a rising demand for acrylic processing aids, particularly in the Asia-Pacific region.
The surge in demand for cost-effective aids has been evident across various sectors, prompting a shift from conventional building materials like wood, metal, concrete, and clay. The versatility, cost-effectiveness, and excellent track record of acrylic processing aids position them as a pivotal polymer in the construction industry.
The substitution of traditional materials with Polyvinyl Chloride (PVC) is on the rise due to PVC's superior mechanical, electrical, and chemical properties. Acrylic processing aids facilitate the PVC fabrication process, offering advantages such as faster fusion, higher production output, enhanced melt strength, and better surface gloss. The cost-effectiveness of acrylic processing aids makes them particularly prevalent in Asian countries.
Limited R&D Expenses in Emerging Countries:
While emerging markets in Asia-Pacific and South America show promise for acrylic processing aids, limited Research and Development (R&D) expenditure in these regions hampers overall advancements. Small and medium-sized firms dominate these markets, but their constrained financial resources limit R&D efforts, impacting the overall progress of acrylic processing aid development.
Market Segmentation Analysis:
The acrylic processing aid market is segmented by polymer, with a focus on polyvinyl chloride and others. The increasing usage of polyvinyl chloride in acrylic processing aids is driven by its amorphous structure, fire-resistant properties, and versatility in applications such as automotive instrument panels, electrical wire sheathing, pipelines, and doors.
Geographical Share:
Asia-Pacific is poised to remain a key player in the global acrylic processing aid market, with significant investments in the construction sector. Countries like China, India, Japan, and South Korea are expected to drive market expansion. The impact of the COVID-19 pandemic temporarily slowed industrial activities, affecting demand and supply chains in 2020.
Companies and Competitive Landscape:
The acrylic processing aid industry is highly competitive, featuring both global and regional players. Companies like LG Chem Ltd., Kaneka Corporation, Arkema SA, The DOW Chemical Company, and others are focusing on acquisitions, R&D, product differentiation, and innovation to maintain a competitive edge.
In July 2020, Arkema introduced PLASTISTRENGTH® 562 NA process aid, offering PVC converters an optimal balance between processing performance and formulation cost. This innovative solution enables consistent PVC fusion and filler integration, increasing melt power and ensuring efficient processing in rigid and semi-rigid extruded or calendared PVC products.
Major Players:
LG Chem Ltd.
Kaneka Corporation
Arkema SA
The DOW Chemical Company
Mitsubishi Rayon Co., Ltd.
3M Company
BASF SE
Shandong Ruifeng Chemical Co. Ltd.
Akdeniz Kimya A.S.
Shandong Rike Chemicals Co., Ltd.
Relevant Reports:
Polymer Processing Aid Market: https://www.datamintelligence.com/research-report/polymer-processing-aid-market
Aerosol Printing And Graphics Market: https://www.datamintelligence.com/research-report/aerosol-printing-and-graphics-market
Peracetic Acid Market: https://www.datamintelligence.com/research-report/peracetic-acid-market
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DataM Intelligence 4Market Research is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
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