Transparency Market Research predicts that the ethylene bis stearamide market will reach ~USD 530 Mn by 2030. In terms of revenue, the global ethylene bis stearamide market is estimated to expand at a CAGR of ~5% during the forecast period.
The global ethylene bis stearamide market is broadly affected by several factors, including increase in usage of plastics in infrastructure and construction applications and rise in rubber manufacturing. Thus, growth in applications of ethylene bis stearamide in different sectors is propelling the global ethylene bis stearamide market.
Ethylene Bis Stearamide Market: Dynamics
Ethylene bis stearamide is used in various applications, primarily manufacture of plastics, inks & coatings, adhesives & tapes, manufacture of rubber, and asphalts and potting compounds, powder metallurgy. Ethylene bis stearamide is also employed as release agent, antistatic agent, and antifoaming agent in the production of thermoplastics, wires, and paper.
In terms of application, the global ethylene bis stearamide market can be segmented into plastic manufacturing, inks & coatings, adhesives & tapes, rubber manufacturing, asphalts & potting compounds, powder metallurgy and others (defoamers, lacquers, etc.).
The plastic manufacturing segment dominated the global ethylene bis stearamide market in 2019. The plastic manufacturing segment is estimated to expand at a CAGR of 5% during the forecast period. The rise in demand for various polymers, such as
polyvinyl chloride, polypropylene, ABS resins, polystyrene, polyolefins, polyamides, and polyurethanes in various industries such as plastics manufacturing, pharmaceuticals, agricultural, building & construction, and electronics, is attracting investments in the chemical sector. This is estimated to drive the global ethylene bis stearamide market during the forecast period.
Prominent Regions of the Market
Asia Pacific dominated the global ethylene bis stearamide market in 2019. The trend is anticipated to continue during the forecast period. Asia Pacific accounted for 35% share of the global ethylene bis stearamide market in 2019. Its share is anticipated to rise marginally to reach 36% by 2030.
The demand for ethylene bis stearamide is high in Asia Pacific, particularly in China, owing to increase in consumption of ethylene bis stearamide products in the manufacture of various end-use products in applications such as plastic manufacturing, inks & coatings, adhesives & tapes, rubber manufacturing, and asphalts & potting compounds in the region. China is a prominent consumer of ethylene bis stearamide in Asia Pacific.
The expansion of the building & construction industry is a major factor propelling the ethylene bis stearamide market in the region. Asia Pacific is anticipated to remain a highly lucrative region of the global ethylene bis stearamide market during the forecast period, owing to increase in production of plastic-based products in countries such as China and India in the region.
Source: TMR