Albany, NY -- (SBWire) -- 03/30/2019 --Despite witnessing slow growth across developed nations, demand for anti-static agents will increase in the forthcoming years as their sales opportunities rise in emerging economies. Plastic substrates are often coated with anti-static agents to make their surface more conductive and dissipate static energy. As per Transparency Market Research (TMR), the increasing application of plastics across the automotive and electronics industries will subsequently boost demand for anti-static agents. Besides this, the increasing use of plastics in the packaging industry will augur well for the global anti-static agents market.

As per TMR, the global anti-static agents market was valued at US$316.7 mn in 2014. The market is expected to reach US$530.5 mn by the end of 2023, rising at a CAGR of 5.9% between 2015 and 2023.

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Based on application, the global anti-static agents market is segmented into polyvinyl chloride, high density polyethylene, acrylonitrile butadiene styrene, low density polyethylene, polypropylene, and others. Of these, the others segment, which includes linear low density polyethylene dominated the market, holding a share of 20% in 2014. Polypropylene emerged as the second-largest segment with a share of 19.9% in the same year. It is a widely used plastic across industries such as automotive, packaging, textiles, electrical. Due to its structural properties and effective functionality, application of polypropylene is expected to surge considerably in the near future. The increasing demand for polypropylene will subsequently boost sales of anti-static agents.

In the same year, high density polyethylene (HDPE) emerged as the third-largest application segment. The market is also expected to gain from the rising use of acrylonitrile butadiene styrene (ABS) in automotive, consumer electronics, and rigid packaging industries is expected to considerably fuel demand from the segment in the forthcoming years. Apart from this, TMR expects the demand for anti-static agents in the polyvinyl chloride (PVC) segment to rise as well. As the consumption of PVC increases in the packaging and construction sectors it is expected to fuel demand for anti-static agents in response.

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Rapid Industrialization in Asia Pacific to Seal the Region's Position as Market Leader

Regionally, Asia Pacific led the global anti-static agents market in 2014 with a share of about 49.8% in 2014. Furthermore, TMR expects this region to exhibit the fastest growth during the forecast period. The increasing population in Asia Pacific, favorable government policies, and rising per capita income are the key factors fuelling demand for anti-static agents from Asia Pacific. The anti-static agents sales in Asia Pacific is poised to surge in response to the rapid growth witnessed in the automotive, electronics, plastics, and textile industries across the emerging economies of the region.