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(MoneyNewsWire.Net, March 28, 2018 ) The global antiblock additive market was valued at USD 839.3 Million in 2016 and is projected to reach USD 1,109.6 Million by 2021, at a CAGR of 5.7% during the forecast period. The growth of the antiblock additive market in the next five years is projected to be the highest in Asia-Pacific, and the Middle East & Africa. Growing food and pharmaceutical packaging, along with increased focus on agricultural output in the Asia-Pacific region is projected to fuel the demand for antiblock additive.
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Based on product type, the antiblock additive market has been segmented into organic and inorganic. The antiblock additive market is led by the inorganic segment, in terms of value, mainly due to its cost-effectiveness and ease of availability.
Based on polymer type, the antiblock additive market has been segmented into LLDPE, LDPE, HDPE, BOPP, PVC, and others. The LLDPE segment is estimated to account for the largest share of the antiblock additive market in 2021, in terms of value. LLDPE polymer type is preferred by plastic film & sheet manufacturers due to its low cost, high tensile strength, and easy applicability in almost every application.
Based on application, the food packaging segment is expected to grow at the highest CAGR, in terms of value, during the forecast period due to increasing consumer awareness for convenience and ready-to-eat packaged food. The increasing disposable income of people and their high spending power has led to high demand for packaged food.
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Asia-Pacific is projected to be the fastest-growing antiblock additive market, in terms of value, during the forecast period due to rapidly growing packaging application, in countries such as Japan, India, and South Korea. Furthermore, improving economic condition and infrastructural developments are primarily responsible for high demand for antiblock additive. In addition, increasing focus on improving agricultural output has led to increased use of antiblock additive in the region.
High dosage levels of inorganic antiblock additive is the major factor restraining the growth of the antiblock additive market. Increase in inorganic antiblock concentration levels significantly increases density, affects optical properties of plastic film, and increases haze. This has driven manufacturers to use newer alternatives, which deliver optimum clarity and high resistance to blocking.
Some of the key players in the antiblock additive market are Honeywell International Inc. (U.S.), W.R. Grace & Co. (U.S.), Specialty Minerals Inc. (U.S.), Imerys S.A. (France), and Fine Organics (India). W.R. Grace and Imerys are among the top players leading the antiblock additive market. Imerys has been mainly focusing on acquisition as part of its strategic developmental activity. In January 2017, the company acquired the mineral-based solution producer Damolin A/S (Denmark), thus strengthening its reach in the European market of animal feed, cat litter, and oil and chemical absorbents.
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