The report "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 grow at fastest CAGR, in terms of volume, during the forecast period”
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.
“PET is projected to be the fastest growing polymer in clarifying agents market, in terms of value”
Polyethylene terephthalate (PET) is considered as a semi-crystalline polymer with lightweight and colorlessness. Ethylene glycol and dimethyl terephthalate are used in the production of PET. It is widely used for packages drinking water and airated soft drinks across the globe. The organized retail industry is boosting the market for packed food and beverages and thereby driving the clarifying agents market.
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“Asia Pacific is expected to be the fastest growing market for clarifying agents during the forecast period, in terms of value and volume.”
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).