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. Acrylic Processing Aid is an innovative technique to enhance the quality of plastics. Different fabrication processes such as extrusion and injection molding are used to process plastic material with acrylic processing aid. The acrylic processing aid based polyvinyl chloride (PVC) plays a major role for manufacturing strong, flexible, durable, and cost-effective plastics.
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PVC possesses superior mechanical, electrical, abrasion resistance, chemical resistance, among other properties compared to conventional materials such as metals, glass, paper, and ceramic. Continuous innovation and the need for lighter material in several applications are encouraging the replacement of these conventional materials by plastic in several applications. The manufacturers of PVC use acrylic processing aid during the fabrication process because it provides faster fusion, increased production output, improved melt strength and elasticity, reduced plate-out and melt texture, improved surface gloss and finishing, better thickness, and tensile strength. Acrylic processing aid is more popular in Asian countries due to its cost-effectiveness and properties for producing good quality products.
APAC projected to be fastest growing region for the acrylic processing aid market
Asia Pacific is the most promising market for plastics and related industries, including acrylic processing aid. The region is characterized by growing population economic developments. The Asia Pacific market is segmented into China, India, Japan, South Korea, Indonesia, Taiwan, and the Rest of Asia Pacific (which includes Malaysia, Thailand, Philippines, Pakistan, and Bangladesh).
The increasing demand from the building & construction, packaging, consumer goods, and automotive industries is driving the market for acrylic processing aid in the region. The increase in employment rate, purchasing power of the middle class and an increase in foreign investments in various industries of the economy are some important factor that drives the market. The need for environment-friendly products is driving innovation in the plastics industry. High-end products such as consumer goods and electronic devices demand damage-free surfaces. This increases the need for anti-scratch products, which in turn drives the market for acrylic processing aid.
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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