The global Polymer Stabilizers Market is estimated to be valued at US$ 8.91 Bn in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Polymer stabilizers are additives that are added to help extend the lifetime of polymers and plastics. They help prevent degradation and discoloration caused by environmental factors such as heat, light, and microbes. Common polymer stabilizers include antioxidants, light stabilizers and heat stabilizers.
Market key trends:
One of the key trends in the polymer stabilizers market is the growing demand for heat and light stabilized plastics. As plastics are increasingly used in applications where they will be exposed to heat, light and outdoor weathering, the demand for effective heat and light stabilizers is growing. Stabilizer formulations that can provide protection against multiple degradation pathways such as heat, light and oxidation are gaining more popularity. Manufacturers are focusing on developing multi-functional stabilizers that can cater to modern applications with combined requirements.
Market Trends:
The Polymer Stabilizers Market is witnessing high demand for hindered amine light stabilizers. Hindered amine light stabilizers (HALS) work as free-radical scavengers and protect polymers from degradation caused by light exposure. They have excellent processability and stabilization performance. Thus, they are highly preferred over other conventional light stabilizers like UV absorbers. Rising application of plastics in industries like automotive and packaging is driving the need for effective light stabilizers like HALS.
SWOT Analysis
Strength: Hinder amine light stabilizers have excellent light stability and processability. They provide long-term thermal stability to plastics.
Weakness: Traditional UV absorbers have better stability at high temperatures compared to HALS. Certain polymer stabilizers can degrade polymers at very high temperatures.
Opportunity: Increasing use of plastics in electric vehicles and growth in emerging economies will propel stabilizers demand. Development of bio-based and non-toxic stabilizers presents an opportunity.
Threats: Stringent environmental regulations around toxic stabilizers and fluctuation in raw material prices are threats.
Key Takeaways
The global Polymer Stabilizers Market Share is expected to witness high growth, exhibiting CAGR of 7.7% over the forecast period, due to increasing use of plastics in automotive industry.
Regional analysis: North America dominated the market in 2023, accounting for more than 30% of global shares. Asia Pacific is expected to witness fastest growth through 2030 on back of growing plastics and automotive industries in China and India.
Key players operating in the Polymer Stabilizers Market are Adeka Corporation, BASF SE, Chitec Technology Co. Ltd, Clariant, Evonik Industries AG, PMC Group, Polyvel Inc., SABO SpA, SK Capital Partners, Solvay, and Songwon.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it