The market for anti-static oils is expected to grow at a CAGR of 5.45% during the forecast period of 2019
NEW YORK, Nov. 12, 2019 /PRNewswire/ --
Market Overview
The market for anti-static oils is expected to grow at a CAGR of 5.45% during the forecast period of 2019 – 2024. The major factors driving the growth of the market studied are the expanding textile industry in Asia-Pacific countries and the growing adoption of bio-based and synthetic lubricants.
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- The US-China trade war's negative impact on the Chinese textile and clothing imports to the United States is going to act as a hindrance to the consumption growth of the product.
- In 2018, Asia-Pacific dominated the global anti-static oils market, with approximately 50% of the global share.
Key Market Trends
Increasing Demand from Weaving
- Weaving is the production process for fabric, by interlacing two sets of yarns, so that they cross each other, normally at right angles, usually accomplished with a hand- or power-operated loom. A power-operated loom is a machinery used to weave cloth and tapestry. The basic purpose of the machinery is to hold the warp threads under tension to facilitate the interweaving of the weft threads.
- Woven fabrics are made of many threads woven on a warp and a weft. Weaving is generally a repetition of three basic actions, also called the primary motions of the loom.
- Shedding, where the warp threads are separated by raising or lowering healed frames to form a clear space where the pick can pass.
- Picking, where the weft or pick is propelled across the loom by hand, an air-jet, a rapier, or a shuttle.
- Beating-up or battening, where the weft is pushed up against the fell of the cloth by the reed.
- Anti-static oil is used in power-operated looms. Anti-static oil is applied to yarn on looms, in order to lubricate and smoothen the hairiness of yarn and eliminate static electricity during textile production, by reducing yarn-to-yarn and yarn-to-metal friction, for higher loom efficiency.
Asia-Pacific Region to Dominate the Market
- In 2018, Asia-Pacific dominated the global market owing to the increasing demand from countries such as China, India, and Vietnam.
- China is the largest textile producing and exporting country in the world. With its rapid growth over the last two decades, the Chinese textile industry has become one of the main pillars of the country's economy and contributes ~7% to China's GDP.
- In 2018, China's textile exports were valued at approximately ~USD 119 billion, a figure that corresponds to ~37.6% of the global market share.
- The Indian textiles and apparels (T&A) industry account for approximately 4% of the global T&A market. The T&A industry is one of the largest and the most important sectors for the Indian economy in terms of output, foreign exchange earnings, and employment. The industry contributes approximately 7% to industrial output in value terms, 2% to the GDP, and 15% to the country's export earnings.
- India's weaving/knitting sector is highly unorganized, with the organized sector contributing to just 5% of the total production. There are about 3.9 million handlooms and 1.8 million power looms in India. Handlooms cater to both ends of the value chain, i.e. mass consumption as well as specialty use.
- At present, there are ~3,544 operational textile mills, which include ~2,184 non-small-scale industries and ~1,360 small-scale industries in the country (2017-2018).
- All the aforementioned factors, in turn, are expected to increase the demand for anti-static oil consumption in the region during the forecast period.
Competitive Landscape
The global anti-static oil market is partially fragmented, with the top four players accounting for a consolidated share of approximately 40% of the market. major players in the market include Transfar Chemicals, Panama Petrochem Ltd, Witsmans Group, and Hansen & Rosenthal Group, among others.
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