Antistatic Agents Market is Estimated to Witness High Growth Due to Increasing Demand from Electronics Industry & Growing Automotive Production
The Antistatic Agents Market is estimated to be valued at USD 1.68 Bn in 2024 and exhibit a CAGR of 5.1% over the forecast period 2024-2031. The increasing demand for antistatic agents from the electronics industry on account of their property to prevent damage from static electricity is a key factor driving the market. Furthermore, the growing production and sales of automotive around the world has augmented the consumption of antistatic agents significantly.
The growth of the antistatic agents market is determined by two key drivers - increasing demand from the electronics industry and growing automotive production. Antistatic agents play a crucial role in the electronics industry by protecting sensitive components of electronic devices from static electricity during manufacturing and transportation. They are widely used across various segments including computers, smartphones, televisions etc. The automotive industry is another major end-use sector, where antistatic agents find applications in areas such as interior and exterior plastic parts. They prevent accumulation of static charge on plastic automobile components. The rising sales of vehicles globally has thus fueled the consumption of antistatic agents in the automotive sector over the past few years.
Growing Electronics Industry is Fueling Demand for Antistatic Agents
The rapid growth of the electronics industry has been one of the major market drivers for the antistatic agents market. The extensive use of antistatic agents in the manufacturing of electronic components such as printed circuit boards, integrated circuits, and semiconductors has significantly contributed to the demand. Antistatic agents are essential in the electronics industry as they help reduce static electricity build-up and prevent damage to delicate electronic parts during production and storage. With increasing electronics demand worldwide, the need for antistatic protection of electronic goods is also growing steadily, thus propelling the antistatic agents market.
Increasing Automotive Production Supporting Market Growth
Rising automotive production globally has positively impacted the antistatic agents market. Antistatic agents find extensive applications in the manufacturing of automotive components such as seating, interiors, and electrical systems. They help control static build-up during automotive fabrication and also provide protection against corrosion. With the automotive industry witnessing rapid transformation, extensive R&D is being undertaken to develop lightweight vehicles using advanced plastics. This has amplified antistatic agent use as they prevent damage to plastic automotive parts from static charges accumulated during production. Thus, strong automotive manufacturing growth is expected to boost antistatic agents demand in the coming years.
Stringent Environmental Regulations Curtailing Growth
Many antistatic agents contain volatile organic compounds (VOCs) that release gases which can be harmful to the environment. Strict environmental regulations imposed by various authorities on VOC emissions are limiting the use of such antistatic agents, especially in developed nations. Growing concerns regarding emissions of toxic and hazardous chemicals is prompting manufacturers to develop environment-friendly alternatives with low VOCs. However, this transition increases production costs, which can negatively impact the antistatic agents market.
Availability of Bio-Based Substitutes Threatening Market
Increased R&D efforts are being made to develop bio-based and natural antistatic solutions derived from renewable resources like plants, animals, and microorganisms. These substitutes offer comparable performance to conventional petroleum-based antistatic agents without harming the environment. Some key bio-based options that can replace traditional antistatic agents include glycerol, sorbitol, and choline chloride. The growing preference for natural and sustainable chemicals over synthetic ones is a major restraint to the petroleum-driven antistatic agents market.
Growing Usage in Packaging Industry Presenting Prospects
The packaging industry has emerged as a lucrative end-use sector for antistatic agents in recent years. Their rising demand from the food and beverage packaging domain, especially for PET and HDPE packaging materials, is opening up significant opportunities. Antistatic agents provide protection against lightning discharge and triboelectric charging during manufacturing, filling, transportation, and storage of packaged products. Features like dust resistance and lower noise also support their increasing use in the packaging industry. Eco-friendly antistatic agents compliant with food safety regulations will gain traction going forward.
Expanding Healthcare Vertical Augmenting Prospects
Healthcare emerges as a key market for future expansion, with growing applications of antistatic agents in medical devices manufacturing, laboratories, hospitals, and pharmaceutical production. They help control static in sensitive production areas and protect delicate equipment from damage. Features like non-toxicity, dust resistance, and moisture retention propel antistatic agent preference in healthcare. Areas presenting opportunities include protective coverings, diagnostics, sterilization packaging, medical grade plastics, and 3D printing. The exponential healthcare industry expansion will continue rising demand, driving the overall antistatic agents market growth.
Link - https://www.coherentmarketinsights.com/market-insight/antistatic-agents-market-2319
Key Developments
- In June 2020, Clariant Plastics & Coatings Healthcare Polymer Solutions, a well-known global provider of sustainable solutions for the plastics industry, introduced a new line of static-reducing functional plastic compounds. These compounds are designed to enhance the reliability of drug delivery devices by improving dose accuracy. The new resins are part of the broader 'medical grade' MEVOPUR line, which includes color and additive concentrates as well as ready-to-use polymer compounds.
- In December 2021, Alfa Chemistry, a leading player in the global antistatic agent market, announced the availability of a diverse range of halide quaternary ammonium salts. This offering is part of its extensive selection of quaternary ammonium compounds (QACs), which also includes quaternary phosphonium compounds, quaternary ammonium hydroxides, polyquaternium, and acid radical quaternary ammonium salts.
Key Players
3M, BASF SE, DowDuPont, Akzo Nobel N.V., Croda International Plc, Schulman, Inc., Arkema, Solvay, Evonik Industries AG, Clariant, LyondellBasell Industries N.V., Mitsubishi Chemical Holdings Corporation, Ampacet Corporation, Kenrich Petrochemicals Inc., Fineotex, and Associated Chemicals
