Northbrook, IL -- (SBWire) -- 11/23/2018 --According to the new market research report "Antifoaming Agent Market by Type (Water Based, Oil Based, and Silicone Based), and Application (Pulp & Paper, Oil & Gas, Food & Beverage, Paints & Coatings and Water Treatment) - Global Trends & Forecasts to 2021", global market size of antifoaming agent was USD 5.29 Billion in 2015, which is projected to reach USD 6.59 Billion by 2021, at a CAGR of 3.8% between 2016 and 2021. The growing manufacturing industry and increasing demand from applications are expected to drive the antifoaming agent market during the forecast period.
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Silicone-based captures the largest share of the antifoaming agent market
The antifoaming agent market is segmented based on types, namely, water-based, oil-based, and-silicone based. In 2015, silicone-based captured the maximum share of the overall market and is expected to witness the second-highest growth rate during the forecast period. The demand of silicone-based is increasing because of its properties such as low surface tension, chemical inertness, thermal stability, and complete solubility in water.
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Growing demand from pulp & paper application to drive the antifoaming agent market
The antifoaming agent market is also segmented based on applications. The major applications of the antifoaming agent market are pulp & paper, oil & gas, paints & coatings, water treatment, pharmaceuticals, food & beverage, textile, and others. Pulp & paper is the leading application of the antifoaming agent market due to its high demand for pulp & paper manufacturing.
North America the largest antifoaming agent market
The antifoaming agent market is broadly segmented into five regions, namely, North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. North America is the largest antifoaming agent market, closely followed by Asia-Pacific, in terms of value. The rising demand from applications such as paints & coatings and pulp & paper in this region is driving the antifoaming agent market.
Currently, North America is the largest antifoaming market, in terms of value, closely followed by Asia-Pacific. Some of the factors driving the growth of the North American market are high growth of end-use industries, local manufacturing, and increased number of domestic players in various market segments. Asia-Pacific is expected to be the fastest-growing antifoaming agent market due to high demand from pulp & paper and paints & coatings applications. The presence of major countries such as China, India, and Japan is also a major driver of the antifoaming agent market in the region.
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Currently, various market players such as Air Products and Chemicals Inc. (U.S.), Dow Corning Corporation (U.S.), Evonik Industries (Germany), BASF (Germany), Kemira (Finland), Ashland (U.S.), Elements Plc. (U.K.), and Shin-Etsu Chemical Company Ltd. (Japan) dominate the global antifoaming agent market.
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Antifoaming Agent Market to Rise at a CAGR of 4.0% by 2021
Antifoaming Agent Market by Type (Water Based, Oil Based, and Silicone Based), and Application (Pulp & Paper, Oil & Gas, Food & Beverage, Paints & Coatings and Water Treatment) - Global Trends & Forecasts to 2021