The global polymer processing aid market is expected to grow from USD 1.71 Billion in 2016 to USD 2.21 Billion by 2021, at a CAGR of 5.2% during the forecast period. Increasing applicability of plastics in end-use industries such as automotive, building & construction, consumer goods, and packaging is driving the growth of the global polymer processing aid market.
The global polymer processing aid market has been segmented on the basis of polymer type, namely, polyethylene (LLDPE, LDPE, HDPE, and others), polypropylene, and others. The polyethylene segment is expected to lead the global polymer processing aid market, in terms of value and volume.
The increased consumption of HDPE, LLDPE, and LDPE in building & construction, consumer goods, and automotive industries is fueling the growth of the polyethylene segment. The polypropylene segment of the global polymer processing aid market is expected to grow at the highest CAGR from 2016 to 2021, in terms of value, owing to the rising demand for polypropylene from building & construction and packaging industries.
On the basis of application, the global polymer processing aid market has been classified into blown film & cast film, extrusion blow molding, wire & cable, pipe & tube, fibers & raffia, and others. The blown film & cast film application is projected to be the largest application segment of the global polymer processing aid market.
This growth is mainly attributed to the increasing use of polymer processing aids to produce blown films & cast films to meet the rising demand for high-quality clean films in China, India, Japan, and South Korea. Blown films are extremely durable and have high mechanical strength, whereas, cast films are soft and flexible. The use of PPA prevents materials from sticking to the surface of machineries, while processing of polymers into plastics. PPA also helps improve surface quality, eliminate melt fractures, maintain operational temperature, and reduce die deposits.