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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Some of the prominent key players are:
- 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)
- Ta Haw Enterprise Co. Ltd. (Taiwan)
Driver: Demand for polymers in packaging applications
The packaging industry is expected to grow significantly due to the growing urban population and increasing demand for plastic packaging from the food & beverage industry. The packaging industry in emerging markets such as Asia Pacific and the Middle East & Africa is expected to grow due to the increase in disposable income of consumers and changing lifestyles. The increasing demand for packaged fruits and vegetables globally is also driving demand for clarifying agents, wherein packaging is intended to be transparent. The shift in consumer preference from rigid to flexible packaging due to advantages such as convenience in handling and disposal and savings in transportation costs, among others, are also expected to support the growth of the market.
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 colourlessness. 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.
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.
