Sanyo Chemical Industries, Ltd. (Thailand) announced the expansion of its production facility for permanent antistatic agents, which is scheduled to operate from April 2021, with a view to meeting the rising demand from Thailand.
MarketsandMarkets™ View Point:
Sanyo Chemical Industries, Ltd. is one of the leading players in the performance chemical business. This expansion of the production facility is expected to help the company establish a strong foothold in the market in Thailand. The company will also be able to strengthen its supply chain by diversifying its global manufacturing. The growing demand for packaging and transporting electronics and medical devices has increased the consumption of antistatic agents. These electronics and medical devices require high cleanliness, because of which the manufacturers use antistatic agents to impart the antistatic properties to prevent dust attraction, fire, and explosion, which is caused by static electricity. Sanyo Chemical Industries, Ltd. is focusing on manufacturing new products by adaption advanced technologies to meet the requirement of consumers. With this expansion, the company aims to establish a dense rivalry and increase competitiveness among the local and global market players. The adoption of antistatic agents in the final product is less, as it results in added cost and the subsequent increase in the price of end products. Also, antistatic agents are incorporated with resins for packaging of food products. In some cases, these agents tend to penetrate through the resin and contaminate the food, which is a concern in the food industry about the use of antistatic agents for food packaging.
Impact of Expansion
Sanyo Chemical Industries, Ltd. is one of the prominent players in Asia Pacific that manufacture and offer surfactants, agents for papermaking, resins for paint and ink, raw materials for polyurethane foams used in automobile seat cushions, and agents for textiles. The company also has its presence in China, Japan, South Korea, Taiwan, and the US through its subsidiaries and affiliates. Expansion of the production facility in Thailand can help the company meet the rising demand for permanent antistatic agents and also increase the global market share. “Rising applications such as packaging and transporting materials for electronic devices, precision components, and explosion-proof materials in Thailand have led the company to expand its production facility,” said Mr. Ibrahim Rassiwala, (Senior Research Analyst at MarketsandMarkets™).
The increase in consumption of antistatic agents by various end-use industry such as packaging, electronics & semiconductor and in the textile industries are driving the market for antistatic agents. The figure given below showcases the opportunities in the antistatic agents market.
FIGURE 1 ANTISTATIC AGENTS MARKET, 2019 VS. 2024 (USD MILLION)
e – Estimated, p – Projected
Source: Related Research Publications, Government Publications, Company Press Releases, Company Annual Reports, Company Websites, Company Publications, and MarketsandMarkets™ Analysis
Impact on Top Competitors
Some major competitors in the antistatic agents market are BASF SE (Germany), Arkema (France), Clariant (Switzerland), Croda International PLC. (UK), DowDuPont (US), Evonik Industries AG (Germany), Nouryon (Netherland), Solvay S.A., PolyOne Corporation (US), Riken Vitamin Co., Ltd. (Japan), and Mitsubishi Chemical Corporation (Japan). With the new production facility, Sanyo Chemical Industries, Ltd. will be able to increase its share in the antistatic market. Moreover, the company will be able to strengthen its presence in the Asia Pacific region.
Conclusion
Permanent antistatic agents are used to avoid the troubles caused by static electricity during packaging and transporting of electronics and medical device. The capacity expansion of Sanyo Chemical Industries, Ltd. in Thailand will assist its growth as one of the key players in the antistatic agents market and widen its footprint in the Asia Pacific region. The company’s efforts in expanding its portfolio of antistatic agents with similar expansion in the production facility in other regions such as the Middle East & Africa, Europe, and North America will widen product offerings within the business across the globe.
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