Clarifying Agents Market worth $338 million by 2027 | Key players Milliken & Company (US), ADEKA Corporation (Japan), Avient Corporation (US), BASF SE (Germany).

According to recent market research the "Clarifying Agents Market by Form (Powder, Granules, Liquid), Polymer (PP, PE, PET), Application (Packaging, Consumer Products, Electronics) and Region (Europe, North America, Asia Pacific, MEA, SA)- Global Forecast to 2027", is projected to reach USD 338 million by 2027, at a CAGR of 7.5% from USD 235 million in 2022. The clarifying agents' market is mainly driven by the demand for different types of polymers such as PP, PE, and PET in packaging applications, increase in consumption of plastics, growing usage in pharmaceutical applications. Moreover, it is also driven by rapidly developing and emerging economies such as India, Brazil, and Argentina.

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Granules form is projected to be the fastest growing segment in global clarifying agents market, in terms of value, during the forecast period. Considering its cost-effectiveness, granule form clarifying agents are finding its relevant use in packaging and consumer products application in various industries. Granule form is made compatible with conventional feeders and can achieve decent efficiency in material handling.

Polyethylene terephthalate (PET) is considered as a semi-crystalline polymer with lightweight and colourlessness. Ethylene glycol and dimethyl terephthalate are used in the production of PET. It is widely used for packages drinking water and aerated soft drinks across the globe. The organized retail industry is boosting the market for packed food and beverages and thereby driving the clarifying agent's market.

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The significant growth of the packaging industry coupled with the increasing demand for packaged food & beverages are projected to lead the growth of clarifying agents' market in this region. China is estimated to be the largest market for clarifying agents in the region. The presence of key companies, such as ADEKA Corporation (Japan), New Japan Chemical Co., Ltd. (Japan), and GCH Technology Co., Ltd. (China), and established polymer manufacturing facilities in this region are projected to drive the demand for clarifying agents.

New product launches and expansions are the major growth strategies adopted by the key players in the market. The key global players in the clarifying agents market include Milliken & Company (US), ADEKA Corporation (Japan), Shandong Rainwell New Materials Technology Co., Ltd. (China), Avient Corporation (US), BASF SE (Germany), New Japan Chemical Co., Ltd. (Japan), GCH Technology Co., Ltd. (China), Qingdao Jade New Material Technology (China), Guangzhou Bolong Chemical Co. Ltd. (China), and Ta Haw Enterprise Co. Ltd. (Taiwan).

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Milliken & Company is the leading manufacturer of clarifying agents. The company offers clarifying agents through the chemical business segment and serves several markets, including automotive & transportation, building & construction, coatings, paints & inks, comfort, consumer goods, electronics, medical, and packaging. The company has registered more than 5,500 patents since 1927. It has a strong geographical presence with more than 70 global locations, 44 plants, 18 offices/labs, ten showrooms, and six distribution centers. In March 2019, Milliken increased the production capacity for clarifiers by 50% in the US. This expansion is expected to meet the increase in demand and reduce the carbon footprint during the manufacture of PP products. In October 2019, Milliken launched Millad NX 8000 ECO, a clarifying agent for polypropylene (PP) tailored for use in the extrusion blow molding (EBM) process.

ADEKA Corporation is one of the leading manufacturers of clarifying agents. Its operations are carried out through the following segments: chemical, life sciences, food products, and others. The chemical products segment produces semiconductor materials, electronic circuit board etching equipment, light-curing resin, optical recording materials, polymer additives, polyvinyl chloride stabilizers, plasticizers, flame retardants, epoxy resin, surfactants, lubricating oil additives, propylene glycol, and hydrogen peroxide. The company offers clarifying agents through its polymer additives segment under the chemical segment. It has a presence in Europe, Asia Pacific, North America, and South America.

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