Antiblock Additive Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The market for antiblock additives is expected to register a CAGR of more than 5%, globally, during the forecast period. Antiblock additives are substances that are added to plastic sheets and films to prevent them from sticking to each other. They improve the processing, life cycle, and performance of the films. They are used in making polyolefin films. Furthermore, they tend to decrease the coefficient of friction between films, thus preventing them from adhering to each other. The growing application of antiblock additives in the food packaging and agriculture sector has been driving the market growth.
* However, the high dosage levels of antiblock additives is negatively affecting the optical properties of plastic films. This is likely to hinder the growth of the studied market. Moreover, unfavorable conditions arising due to the COVID-19 outbreak are expected to hinder the market's growth.
* The growing demand for antiblock additives in the packaging of medicines is likely to provide opportunities for the antiblock additive market over the next five years.
* The Asia-Pacific region is expected to dominate the antiblock additive market, owing to the rising demand from the food packaging and agriculture sector in the region.
* The food packaging segment is the primary segment in the market studied, owing to the quickening pace of life and changing eating habits.
* The increasing demand for antiblock additives in food packaging due to the rising consumer awareness about ready-to-eat packaged food is likely to drive the market growth.
* Improved shelf-life, coupled with heightened efficiency in the prevention of content contamination, is expected to boost the growth of the food packaging market, thereby increasing the demand for antiblock additives.
* Furthermore, government initiatives to increase crop output are anticipated to boost the demand for food packaging during the forecast period.
* The Asia-Pacific countries, like China, India, and Vietnam, have been registering strong growth in the food packaging and agriculture sector. This is expected to drive the consumption of antiblock additives in the region over the forecast period.
* The Asia-Pacific region stands to be the fastest-growing market for antiblock additive. Factors, such as the rising agriculture industry, have been driving the antiblock additive requirements in Asia-Pacific.
* The inorganic antiblock additive segment is anticipated to grow at a significant pace during the forecast period, owing to factors, like cost effective and easy availability.
* The demand for greenhouse films is increasing in the agriculture sector owing to their UV and thermal resistance properties. Thus, the demand for antiblock additives is likely to increase over the forecast period.
* Greenhouse films help in the faster formation of yields, less water consumption, and large production of crops. The expansion in the agriculture industry is expected to propel the demand for antiblock additives during the forecast period.
* Asia-Pacific countries, like China, India, and Vietnam, are witnessing increasing agriculture output, which further provide thrust to the antiblock additive market.
* Hence, all such market trends are expected to drive the demand for antiblock additives during the forecast period.
The global antiblock additive market is fragmented in nature, with some large players and many small players operating in the market. While some of the prominent players in the market are Imerys Performance Additives, Ampacet Corporation, A. Schulman Inc. (LyondellBasell), WR Grace & Co.-Conn, and Evonik Industries AG, among others.