SEATTLE, Nov. 30, 2018 (GLOBE NEWSWIRE) -- The global antistatic agents market was valued at US$ 416.1 million in 2017 and is projected to exhibit a CAGR of 6.3% during the forecast period (2018–2026).
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Key Trends and Analysis of the Antistatic Agents Market:
Demand for antistatic agents is increasing as these agents prevent static buildup that may lead to contamination during storage, packing, and transport. Antistatic agents also prevent dust accumulation that may adversely affect performance and appearance of plastic products. They also reduce risk of electrostatic discharge that may damage electronic components. According to India Brand Equity Foundation, electronics products market in India is projected to witness a CAGR 41% during 2017-20 to reach US$ 400 billion by 2020. Therefore, increasing demand for electronic products is expected to boost growth of the antistatic agents market.
Moreover, launch of new products is fuelling growth of the global antistatic agents market. For instance, in May 2017, Intertec launched antistatic surface coating treatment for glass fiber reinforced polyester outdoor enclosures. In April 2016, Ascend Performance Materials introduced No-Shock anti-static fiber for apparel manufacturers.
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Key Market Takeaways:
- Packaging end-use industry accounted for the highest market share of 30% in 2017 in the global antistatic agents market. This is owing to increasing demand for plastic packaging from various industries such as electronics, food and beverages, and others. According to a Coherent Market Insights’ survey, global bioplastic packaging market is expected to reach US$ 34.47 billion by 2025, thereby driving the packaging segment growth in the market.
- Asia Pacific accounted for a market share of 48% in 2017 in the global antistatic agents market and is projected to be the fastest growing market throughout the forecast period. This is attributed to increasing demand for antistatic agents form the automotive industry, especially in China, India, and ASEAN countries. According to the National Bureau of Statistics of China, the production output of motor vehicles was 2811.9 in 2016, which increased by 14.8% from 2015. This growth is propelling demand for antistatic agents as these are widely used in automotive parts to prevent static build-up.
- North America accounted for the second largest market share in the global antistatic agents market in 2017. This is attributed to growing electronics industry in the region. According to the U.S. Census Bureau, annual U.S. retail sale of electronics and appliances in 2011 was US$ 99.93 billion, which increased to US$ 103.52 billion in 2014.
- Europe accounted for a significant market share in the global antistatic agents market, owing to increasing demand for antistatic agents from plastic industry in the region. According to the Plastics Europe, plastic production in Europe in 2015 was 58 million tons, which increased to 60 million tons in 2016.
- Some of the major players operating in the global antistatic agents market include, Akzo Nobel N.V., 3M Company, BASF SE, Ampacet Corporation, DowDuPont Inc., Arkema Group, Clariant AG, Croda International plc., Mitsubishi Chemical Corporation, Kenrich Petrochemicals Inc., and Solvay S.A. among others.
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