Selbyville, DE -- (SBWire) -- 10/05/2018 --Defoamers Market in North America is likely to surpass USD 1 billion by the end of the forecast period. Europe defoamers market will grow at a CAGR over4.5% from 2016 to 2024. Considering geography, Asia Pacific is the fastest growing region registering a CAGR close to 5%. The region holds more than 30% of the market share globally.
The Defoamers Market is set to grow from its current market value of more than $2.9 billion to over $4.3 billion by 2024; as reported in the latest study by Global Market Insights, Inc.
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Rising use of surface active agents in pulp & paper production will likely showcase positive impressions on the defoamers market globally. The pulp & paper industry will grow at a substantial rate in the forecast period with a CAGR of nearly 4.5%. China leads the pulp & paper market in terms of production quantity and has a market share of close to 25%. Following China are the United States, Japan and Germany respectively. As paper is a primary substitute of plastic in the packaging & labeling industry, the demand for paper industry is fueled on a large scale. Busy work schedules and rising home delivery systems are boosting the demand for the packaging industry. The global packaging & labelling industry was valued at over USD 850 billion in 2016.
Paints & coatings is also set to witness healthy gains at a CAGR of over 4% in the coming years owing to is extensive use in the aerospace, automotive, construction and marine industries. The global automotive industry recorded sales of over 90 million cars and commercial vehicles in 2016, while the aerospace industry revenue growth is estimated at a CAGR of around 3%. Extensive use of defoamers in these industries will propel the defoamers market growth in near future.
The use of defoamers as an additive in processed food & beverages is increasing by the years. Due to changing lifestyles, nuclear families, working women and shifting taste and preferences, the demand for processed and instant food & beverages is rising rapidly. Growing food & beverages demand, owing to rapidly increasing urban population, is likely to augment the global defoamers market and on a large scale in the coming years.
Stringent regulatory concerns regarding the product usage is likely to hinder the industry growth in the coming years. The quantity of product to be used, percentage of dosage and concentration levels in food & beverages can adversely affect the defoamers market in near future.
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Environmental advantage of ecofriendly products is fueling the demand for water-based defoamers market. Oil based products have a global market share of about 25%. Also, silicon-based products are on huge demand owing to reduction in biological oxygen demand and accounts for a major chunk of share in the global defoamers market.
Based on application, water treatment accounts to over 25% of the global market share and is likely to grow at a significant rate in the forecast period. Environment and health based concerns due to waste and sewage waters are fueling the needs for waste water management.
Some of the major players operating in the defoamers market include BASF SE, Air Products and Chemicals Inc, Bluestar Silicones, Ashland Inc., Kemira Oyj, Evonik Industries AG, Dow Corning Corp, Clariant, and Wacker Chemie AG.
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North America Defoamers Market to Hit $800m by 2024 : BASF, Dow Corning Corporation, Ashland Inc., Clariant, Kemira Oyj, and 6 Other Companies Profiled
Europe defoamers market size registered over USD 650 million in 2015 and will be influenced by a growing demand for paper & pulp in the packaging industry of the region.