The global acrylic processing aid (APA) market size was USD 645.4 Million in 2016, and is projected to reach USD 1,173.6 Million by 2026, registering a CAGR of 6.2% between 2016 and 2026. In this report, 2015 is considered as the base year and the forecast period is between 2016 and 2026.
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The rapid growth of building & construction industry and increasing demand for various applications such as pipes, flooring, roofing, windows & doors, containers, and trimboard in the Asia-Pacific region, and growth of other industries such as packaging, automotive, and consumer goods have led to the growth of the APA market.
Polyvinylchloride (PVC) polymer type projected to be the largest market for APA between 2016 and 2026
Polyvinylchloride (PVC) is projected to be the largest polymer type of the APA market between 2016 and 2026. It provides flexibility which is helpful in making modern automotive cost-effective, safe, and of high quality. It helps in reducing the weight of vehicles owing to the lightweight of its components in comparison to other materials. PVC is also less expensive as compared to other plastics.
Extrusion to be the fastest-growing fabrication process for APA between 2016 and 2026
The fabrication process is used to process the plastic materials with APA. Some of the major fabrication processes for APA includes extrusion, injection molding, and others. Extrusion is expected to be the fastest-growing fabrication process of the APA market between 2016 and 2026. Extrusion is used to process high volume of plastics. The pellets, granules, flakes, or powders are fed into the extrusion machine and melted under high temperature (depending upon the type of plastic to be extruded).
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Asia-Pacific to be the fastest-growing market for APA between 2016 and 2026
Asia-Pacific is projected to be the fastest-growing APA market between 2016 and 2026. The market for APA in Asia-Pacific is expected to grow at a high rate owing to investments in various industries, such as building & construction, packaging, automotive, and consumer goods. The increasing purchasing power of the middle class is also an important factor that drives the Asia-Pacific APA market. Emerging industries in developing countries of this region are creating opportunities for the APA market.
Currently, the APA market is dominated by various market players such as LG Chem Ltd. (Korea), Kaneka Corporation (Japan), Arkema SA (France), The Dow Chemical Company (U.S.), and Mitsubishi Rayon Co., Ltd. (Japan), 3M Company (U.S.), BASF SE (Germany), Shandong Ruifeng Chemical Co. Ltd (China), Akdeniz Kimya A.S. (Turkey), and Shandong Rike Chemicals Co., Ltd. (China).
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