The report "Polymer Processing Aid Market by Polymer Type (Polyethylene (LLDPE, LDPE, HDPE), Polypropylene), Application (Blown Film & Cast Film, Extrusion Blow Molding, Wire & Cable, Pipe & Tube, Fibers & Raffia) - Global Forecast to 2021, " published by MarketsandMarkets, the global market is projected to grow from USD 1.71 Billion in 2016 to USD 2.21 Billion by 2021, at a CAGR of 5.2% between 2016 and 2021. 

Increasing applicability of plastics in varied end-use industries such as automotive, building & construction, consumer goods, and packaging is propelling the growth of the global polymer processing aid market.

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Polypropylene to register the highest CAGR in the global polymer processing aid market between 2016 and 2021 

The global polymer processing aid market has been segmented on the basis of polymer type into polyethylene (LLDPE, LDPE, HDPE, and others), polypropylene, and others. The polypropylene segment of the global polymer processing aid market is expected to grow at the highest CAGR between 2016 and 2021, in terms of value. This growth is mainly attributed to the rising demand for lightweight vehicles and increasing usage of polypropylene in the automotive sector. Moreover, expansion of the automotive industry in the Asia-Pacific region is further driving the demand for polypropylene. Polypropylene carrier resins are used in the production of additive masterbatch, owing to their high melting point, water resistance, low electrical conductivity, good chemical & fatigue resistance, good hinge property, and flexibility.

Blown film & cast film to be the fastest-growing application segment of the global polymer processing aid market  

The blown film & cast film segment is projected to grow at the highest CAGR between 2016 and 2021, in terms of value, due to the increasing demand for blown film & cast film from packaging and agriculture industries. In addition, the increasing usage 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 is another significant factor propelling the growth of the Polymer Processing Aid Market in blown film & cast film application. Blown films are extremely durable and have high mechanical strength, whereas, cast films are soft and highly 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.

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Asia-Pacific to be the fastest-growing region in the global polymer processing aid market 

The Asia-Pacific polymer processing aid market is expected to grow at the highest CAGR during the forecast period, in terms of value. Increasing demand for plastics from varied end-use industries in the Asia-Pacific region is driving the growth of the polymer processing aid market.

Polymer Processing Aid Market Key Players

Key players operating in the global polymer processing aid market include 3M Company (U.S.), A. Schulman, Inc. (U.S.), Arkema S.A. (France), Clariant AG (Switzerland), Daikin America, Inc. (Japan), Fine Organics (India), Micro Epsilon (Lebanon), PolyOne Corporation (U.S.), Tosaf Group (Israel), and Wells Plastics Ltd. (U.K.), among others.

A. Schulman, Inc. (U.S.) is one of the key polymer processing aid manufacturers, globally. The company has been focusing on expansions and acquisitions to strengthen its presence in the market. For instance, in April 2015, the company established a new masterbatch production plant in Turkey. The plant produces premium masterbatches for packaging industries. This expansion strategy has helped the company enhance its supply of masterbatch in the Middle East & Africa. Moreover, in September 2014, the company acquired Compco Pty. Ltd. (Australia), which is a manufacturer of plastic compounds and masterbatches for USD 6.7 million. This acquisition strategy will help the company expand its business operations in Australia.

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Clariant AG (Switzerland) is another key player in the global polymer processing aid market. As a part of its strategic development activities, the company has been focusing on expansions and new product launches. In February 2016, the company has invested USD 7.57 million to expand the production capacities and capabilities of additive masterbatch at its manufacturing plants located in Shanghai, Singapore, and the U.S. This expansion strategy will help the company offer a wide range of high temperature additives to its potential customers.