Antifog Additives Market to Garner $619.8 Million, Globally, By 2031 at 4.6% CAGR, Says Allied Market Research
Rise in focus on the agriculture sector with increase in government initiatives and investments in the sector drives the growth of the global antifog additives market.
PORTLAND, Ore., Aug. 29, 2022 /PRNewswire/ — Allied Market Research published a report, titled, “Antifog Additives Market by Type (Sorbitan Ester, Glycerol Ester, Polyglycerol Ester, Glycerol Monooleate, Others), by Application (Food Packaging, Agriculture): Global Opportunity Analysis and Industry Forecast, 2021–2031.” According to the report, the global antifog additives industry generated $397.2 million in 2021, and is estimated to reach $619.8 million by 2031, witnessing a CAGR of 4.6% from 2022 to 2031.
Drivers, Restraints, and Opportunities
Rise in focus on the agriculture sector with increase in government initiatives and investments in this sector and rise in implementation in greenhouses for reducing fog formation, improvement of light transmission, and increasing crop productivity drive the growth of the global antifog additives market. However, lack of skilled labor and lack of standard regulations hinder the market growth. On the other hand, rise in implementation from the automotive sector for usage in windows and windscreens to improve the visibility of mirrors and rise in industrialization present new opportunities in the coming years.
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- Manufacturing activities of antifog additives were stopped completely or partially due to lockdown measures implemented in many countries. In addition, disruptions in supply chain and shortage of raw materials presented many challenges in manufacturing activities.
- The demand from the end-use industries such as automotive reduced significantly due to halt in daily operations during the lockdown. The production activities were stopped and the demand of antifog additives in production of windshields, windows, and mirrors was reduced. However, the demand grew slowly post-lockdown as daily operations were back on track.
- Food packaging companies also suffered disruptions in daily operations during the lockdown and initial stages of the pandemic. This, in turn, reduced the demand for antifog additives. However, as the demand for ready-to-eat food increased during the lockdown, the demand for food packaging increased considerably.
The glycerol monooleate segment to maintain its leadership status during the forecast period
Based on type, the glycerol monooleate segment accounted for the highest market share in 2021, contributing to nearly two-fifths of the global antifog additives market, and is projected to maintain its leadership status during the forecast period. This is attributed to increase in focus toward healthcare, rise in R&D activities in the pharmaceutical sectors, extensive usage in the formulation of drugs, and reduction in foaming during drug production. However, the glycerol ester segment is estimated to witness the highest CAGR of 5.1% from 2022 to 2031. This is due to its usage as an antifog additive in polymer films to control the formation of fog on the plastic surface, surged utilization in agriculture, plastic films, and food & packaging industries, and application in greenhouses in the form of films to reduce the formation of fog, improve light transmission, and raise crop productivity by maintaining favorable conditions.
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The agriculture segment to maintain its lead position during the forecast period
Based on application, the agriculture segment contributed to the highest market share in 2021, holding around two-thirds of the global antifog additives market, and is projected to maintain its lead position during the forecast period. This is attributed to its usage to enhance productivity of crops and raise plant efficiency and rise in demand for organic food, medicinal plants for research purposes, and aromatic plants. In addition, antifog additive films such as glycerol esters, sorbitan esters, and others are widely used in plants to enable consistent production and maintain potential sales. Antifog additive films are utilized for preventing the damage to plants from fogging. However, the food packaging segment is estimated to register the highest CAGR of 4.8% from 2022 to 2031, owing to usage of antifog additives with low-density polyethylene (LDPE) and high-density polyethylene (HDPE) food wrap applications. Moreover, sorbitan ester antifog additives are utilized to increase transparency and improve the presentation of packed food contents.
Asia-Pacific to offer lucrative opportunities
Based on region, Asia-Pacific contributed to the largest market share in 2021, accounting for around two-fifths of the global antifog additive market, and is expected to maintain its dominance in terms of revenue by 2031. Moreover, this region is projected to manifest the fastest CAGR of 5.2% during the forecast period. This is due to usage of antifog additive films in greenhouses to reduce the formation of fog, improve light transmission, and raise crop productivity. In addition, there is an increase in the acceptance of antifog additives in packaged food in South Korea, Japan, and India. The research also analyzes regions including North America, Europe, and LAMEA.
Leading Market Players
- Ashland Global Holdings, Inc.
- BASF SE
- Clariant AG
- Corbion N.V.
- Croda International Plc.
- Eastman Chemical Company
- Emery Oleochemicals
- Evonik Industries
- Foreverest Resources Ltd.
- Merck KGaA
- PCC Chemax Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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