Growing at a CAGR of close to 5.4%, the global production of nucleating agent is predicted to reach 24,410 MT by the end of 2025, increasing from 16,044 MT achieved in 2017. Increasing application of nucleating agent is anticipated to significantly bode well for the market. As a result, the production of nucleating agent could grow steadily throughout the forecast period. By the end of 2025, the production value is projected to reach a US$ 995 Mn. However, product prices could exhibit a slow downward trend in the coming years.
Global Nucleating Agent Market: Drivers and Restraints
High demand for nucleating agent for polymers is envisaged to give impetus to the global market. The automotive industry witnesses high use of advanced polymer composites. Nucleating agent is also used in the consumer goods industry. Food and beverage is another industry that could augment the demand for nucleating agent since it is used in packaging.
As nucleating agent is used in plastics, rising environmental concerns are expected to stunt the growth of the global market. However, increasing focus on plastic recycling and improving demand in pharmaceutical applications could assure growth to market players.
Global Nucleating Agent Market: Forecast by Product and Application
On the basis of product, the global nucleating agent market is segmented into beta, alpha, and other nucleating agents.
By application, the global nucleating agent market is classified into automotive, consumer products, packaging, and others. Among these, packaging could be a highly profit-making application of nucleating agent. It bags a nearly 45.2% share of the total downstream consumption in the market.
Global Nucleating Agent Market: Forecast by Region
The report includes a study on important regions and countries deemed crucial for the growth of the global nucleating agent market. It covers the MEA, Central and South America, Southeast Asia, India, Japan, China, Europe, and North America.
Followed by Japan, North America is the leading market for nucleating agent. It secures about 43.0% share of the global nucleating agent market in terms of production. Japan collects a 20.0% production share of the market.
Global Nucleating Agent Market: Key Players
The global nucleating agent market marks the presence of top companies such as PolyOne, BASF, Adeka Corporation, and Milliken & Company. As per the findings of the report, the market witnesses the growing prominence of Milliken & Company, a world leader. In 2017, the company held a significant market share vis-à-vis production.
Millad® NX 8000 and Hyperform® Nucleating Agent are the main products sold in the global nucleating agent marke
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