The consumption of packaged and ready-to-eat food is currently the hottest trend in the food and beverage industry. The increasing demand for packaged food has also curated subsequent demands for the raw materials used for packaging. Antiblock additives are used to tackle a generic problem faced by the manufacturers of coatings and films. These additives create small bumps at the edge of the packing which increases the distance between two layers, thereby, containing the blocking. The bolstered demands for good quality packaging products are generating gamut of opportunities in the global antiblock additives market which already held the market size of $970 million in 2018. The market reflects the potential to grow at a positive CAGR of 6% during the forecast period 2019 to 2025.
Geographical Distribution in the Global Antiblock Additive Market
The highest demands for antiblock additive are witnessed from the APAC region which acquired 48% of the global antiblock additive market. The increasing agricultural output and robust demand in the food and beverage industry is escalating the prevalence of antiblock additive market. Moreover, incrementing packaging requirements in the consumer electronics sector from countries such as India, Japan, and China are burgeoning the APAC antiblock additive market volume. Other than the APAC region, the demands for antiblock additive are also increasing in the North American region owing to the uptick in demands for packaged and processed food.
Application Analysis in the Global Antiblock Additive Market
The food and beverage end-user segment is the major application of the antiblock additive market and the sector is witnessing growth at a CAGR of 5.6% during the forecast period. The food and beverage industry requires a considerate amount of plastics such as polyethylene films and polyethylene terephthalate (PET) for packaging purposes. Application of antiblock additives is necessary for a certain range of food products to prevent them from the outside environment. Some of the most prevalent antiblock additives in the market are oxygen scavengers, diatomaceous earth, and ethylene bisstearamide. Other than the food and beverage industry, the consumer electronics segment is also paving opportunities in the global antiblock additives market.
Antilock Additive Market Competitive Landscape
The companies influencing the antilock additive market are Croda International PLC, Evonik Industries AG, Imerys SA, J.M. Huber Corporation, W.R. Grace & Company, Elementis PLC, Honeywell International Inc., BYK Additives & Instruments, Fine Organics, and Specialty Minerals Inc.
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