Grand View Research, Inc. - Market Research And Consulting.According to a new report by Grand View Research, Inc growing usage of the additive in food packaging, agricultural, optical glasses, mirrors, and automobiles, as it reduces fogging and improves visibility will propel market growth over the next eight years. The low cost of production coupled with the boom in food processing and packaging industries in emerging and developing economies including China, India, Vietnam, and Thailand is expected to drive industry expansion over the forecast period.
The global anti-fog additives market is expected to reach USD 2.21 billion by 2024, according to a new report by Grand View Research, Inc. Increasing demand for functional and packaged foods, primarily in China, India, Brazil and Thailand, Singapore and Vietnam, is likely to augment market expansion. New applications for these additives in architectural structures such as greenhouses and skylights will create immense industry potential in the near future.
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Growing product demand in master batches for manufacturing polymers namely LDPE, LLDPE, EVA, and PVC as they offer a higher level of durability and performance will propel industry size over the forecast period. The growing demand for high-quality and efficient optical products is likely to impact market growth positively over the next eight years. Growing preference for biodegradable food packaging and agricultural films will open new market avenues over the next few years.
Further key findings from the report suggest:
The global anti-fog additives market demand was 310.5 kilo tons in 2015 and is expected to reach 526.6 kilo tons by 2024, growing at a CAGR of 6.1% from 2016 to 2024
Agricultural films accounted for 28.2% of the global volume in 2015 and will witness substantial growth on account of rising government spending along with increasing requirement of high-quality crops. Also, agricultural films exhibit high durability, thermal resistance, and tensile strength which helps in extending the shelf life of agricultural products. This factor, in turn, is expected to augment demand for anti-fog additives over the forecast period.
Asia Pacific will witness tremendous gains at a CAGR of 6.7% in terms of volume on account of growing demand for processed food. Developments in the food processing sector including preservation technologies including cold storage, and climate control storage are expected to augment growth.
MEA is expected to witness a significant increase in demand for anti-fog additive owing to growing demand for packaged food in light of the expansion of retail food outlets and new product launches. Demand for the product is expected to reach 46.5 kilo tons by 2024.
Major market participants include A. Schulman, Inc., AkzoNobel N.V, Croda International PLC, Evonik Industries AG, PCC Chemax Inc., Fine Organics, Palsgaard, Polyvel Inc., PolyOne Corporation, and Ampacet Corporation. Product innovation by key market players to improve the durability and long-term performance of their products over a wide range of temperatures is likely to propel demand for the product. Various companies including AkzoNobel N.V., Ampacet Corporation, and Croda International PLC are focusing on creating multifunctional products that provide anti-static and dispersion properties along with the anti-fogging function to gain industry share.
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Sorbitan esters will witness significant growth at a CAGR of 7.0% in terms of revenue owing to its growing consumption in LDPE, LLDPE, PVC, and EVA films for food packaging and agricultural applications, as they have anti-fog, anti-static, and dispersion properties.
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Grand View Research has segmented the global anti-fog additives market on the basis of product, application and region:
Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
Ethoxylated sorbitan esters
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
Food packaging films
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research Guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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