Albany, NY, Jan. 07, 2016 (GLOBE NEWSWIRE) -- Transparency Market Research has published a new report titled “Anti-static Agents Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2023.” According to the report, the global anti-static agents market was valued at US$316.7 million in 2014 and is anticipated to reach US$530.5 million by 2023, expanding at a CAGR of 5.9% between 2015 and 2023.
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Rising demand for anti-static agents in polypropylene (PP), acrylonitrile butadiene styrene (ABS), high-density polyethylene (HDPE), and other plastic applications is estimated to positively impact the market by 2023. Anti-static agents are required to reduce the generation of static charges as well as dust settlement on plastic products. Plastics are increasingly being consumed in the global packaging industry owing to their structural and mechanical properties. Growth in this end-user is expected to chiefly drive the demand for anti-static agents in the next few years. Polystyrene (PS) and low-density polyethylene (LDPE) are other major application segments of the anti-static agents market. Upsurge in disposable income and changes in lifestyle of consumers in developing countries such as China, India, and countries in GCC are likely to boost consumption of plastics. This, in turn, is expected to fuel demand for anti-static agents as they are used as key functional additives during the processing of plastics. Consumption of anti-static agents in key downstream markets, especially electronic and automotive components, is anticipated to be another major factor boosting demand for anti-static agents during the forecast period. However, volatility in prices of raw materials, such as ethylene oxide and fatty acids, coupled with governmental regulations in developed regions are estimated to restrain the market growth during the forecast period.
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Ethoxylated alkamines was the largest product segment, accounting for over 35% share of the global anti-static agents market in 2014. Ethoxylated alkamines are used in polypropylene (PP), and low-density polyethylene (LDPE) applications. Polypropylene (PP) has been the largest application segment of the global anti-static agents market during the past few years. Anti-static agents reduce the overall static decay time, thus making plastic surfaces electrically conductive. Fatty acid esters and alkyl sulfonate are other major product segments of the anti-static agents market.
In terms of demand, Asia Pacific dominated the global anti-static agents market in 2014. This trend is expected to continue in the near future. Growth in key downstream markets such as automotive components, electronic components, and packaging industries is expected to boost demand for anti-static agents in the next few years. Demand for anti-static agents is estimated to be sluggish in Europe and North America due to heavy governmental regulations coupled with saturated end-user markets in these regions. Latin America is likely to witness steady growth, while Middle East & Africa is projected to be the fastest-growing market for anti-static agents in the near future.
The report provides a comprehensive view of the anti-static agents market in terms of volume and revenue. It includes current demand analysis and forecast for product and application segments in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Furthermore, the report provides detailed country-wise analysis of the anti-static agents market in the regions.
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Source:Transparency Market Research