The antistatic agents market is projected to grow from USD 437 million to USD 594 million by 2024, at a CAGR of 6.3% from 2019 to 2024. The key factor driving the growth of the market is the increasing demand for antistatic agents from the packaging, electronics, and automotive industries.
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Key Market Players
BASF SE (Germany), Arkema (France), Clariant (Switzerland), Croda International PLC. (UK), DowDuPont (US), Evonik Industries AG (Germany), Nouryon (Netherlands), Solvay S.A. (Belgium), PolyOne Corporation (US), Riken Vitamin Co., Ltd. (Japan), Mitsubishi Chemical Corporation (Japan), and Kao Group (Japan), among others are the major players operating in the market. These players have been focusing on developmental strategies such as new product launches, expansions, mergers & acquisitions, and partnerships to expand their businesses to untapped and potential markets.
Based on end-use industry, the antistatic agents market has been segmented as follows:
Others (Footwear, Pharmaceuticals, and Furniture)
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In October 2017, Clariant launched an amide/amine-free anti-static concentrate for clean-room and Active Pharmaceutical Ingredient (API) films, which are used in the production of pharmaceuticals. This product launch helped the company in increasing its market presence by producing bio-friendly products and enabling manufacturers in the medical and pharmaceutical sectors to control and minimize risks such as attracting dust and mitigating the dissipative charges.
On May 13, 2019, Kao Corporation of Kao Group expanded its production capacity of oleochemicals by completing the joint venture between Kao and PT Apical of Apical Group. This joint venture aimed at increasing the production capacity of fatty acids, which are required to manufacture antistatic agents. This joint venture is also expected to enable Kao Corporation to extend its reach and strengthen its supply chain to produce high-quality products for a wide range of customers.
Based end-use industry, the packaging industry is projected to lead the antistatic agents market during the forecast period, in terms of volume.
The major end-use industries of antistatic agents are packaging, electronics, automotive, textiles, and others. The demand for plastics and resins from the packaging industry is growing at a rapid pace across the globe. Antistatic agents are one of the major functional agents used in the plastics industry for the processing of plastic resins. Major challenges faced by manufacturers of antistatic agents include efficient management of wastes and disposables that are generated by the packaging and electronics industries.