Polymer Stabilizer Market size is forecast to reach $9 billion by 2025, after growing at a CAGR of 3.5% during 2020-2025. Polymer stabilizers are used as an additive in plastic goods manufacturing. They are used either directly or in combinations to avoid oxidation, chain scission, uncontrolled recombination and reactions to cross linkage. Plastics such as polyvinyl chloride and polycarbonate appear to degrade during heat, cold and light exposure. Radiations from these sources initiate chemical reactions in plastics which lead to the breakdown and loss of plastics’ chemical and physical properties. During processing, the specially designed polymer stabilizers protect the polymer and ensure plastic-based end products retain their physical properties while in use, thereby enhancing their longevity. Polymer stabilizers aid in the product’s long-term aging after its manufacture.
By Product Type – Segment Analysis
The market is segmented into product type which includes antioxidants, heat stabilizer, light stabilizer, and others. Due to the high demand from the plastics industry to protect end-use goods from extreme heat, heat stabilizer is expected to be the dominant segment on the market during the forecast period. The market is driven by increased demand for non-degradable, and UV & IR-resistant coating materials from the food & beverage, pharmaceutical, and industrial packaging sectors.
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By End Use Industry – Segment Analysis
On the basis of end use industry, the market is segment into packaging, automotive, consumer goods, building and construction, and so on. During the forecast period, the packaging industry is projected to be the leading and fastest-growing market for polymer stabilizers. Population growth across the world is propelling the market for ready-to – eat prepared food items, healthcare products, and manufacturing products, resulting in increased demand for packaged goods. In addition, both the inner and outer sides of the car, seats, dashboards, roof linings, and fuel systems are exposed to intense light and temperature in the automotive industry. High-performance plastics are therefore required, as they are exposed to intense light and temperature conditions.
Geography – Segment Analysis
Due to the rapidly growing packaging, automotive and construction industries in the region, Asia-Pacific is expected to be the dominant market for polymer stabilizers during the forecast period. Developments in infrastructure, growing living standards and increasing construction activities have increased the usage of pipes and fittings, decking and roofing, thus raising demand for the polymer stabilizer used in these items. The polymer stabilizer market is driven by China, Japan and South Korea as the dominant automotive manufacturers in this area.
Drivers – Polymer Stabilizer Market
The usage of energy-efficient plastics in the construction sector is driving the growth of the market
In construction sector, plastic helps to maximize energy efficiency, durability, and performance. In U.S, many plastic construction goods encourage the effective use of energy and other resources. A year-long study showed that the use of plastic construction and building materials saved 467.2 trillion Btu of energy over alternative building materials. This is enough energy saved over the course of a year to meet the 4.6 million U.S. household’s total annual energy requirements. The growing demand of energy-efficient materials leads the demand of polymer stabilizers which is driving the market growth.
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Challenges – Polymer Stabilizer Market
The high manufacturing cost of light stabilizer is one of the major factors that constraints the growth of the market
The big limiting factor for the growth of the polymer stabilizer market is the light stabilizer ‘s high production costs. The demand for light stabilizers is capital-intensive with labor-related costs, and the materials are strong. The materials used to manufacture light stabilizers are highly volatile and applications-specific and need to follow the quality & government requirements when providing optimum coating solutions that not only have long-term benefits but also have viable short-term benefits.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Polymer Stabilizer market. Polymer Stabilizer Market top 10 companies 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.
In November 2019, Chemson sets particular store by creating environmentally friendly additives. Therefore, the company is able to give a broad range of heavy metal-free stabilizers, with a focus on high-performance calcium / zinc systems and organically based stabilizers. The use of solid stabilizers provides further environmental advantages.
The growing usage of energy-efficient plastics in the construction sector and hindered amine light stabilizer (HALS) in the packaging industry are expected to drive the market growth.
Currently, due to COVID-19 outbreak, various financial experts have warned the investors to not invest in the plastic production. In addition, the government of various countries have banned the plastic production, the innovation of organic materials comes into picture which have totally changed the value chain of plastic industry.
Related Reports :
A. Heat Stabilizers Market
B. PVC Stabilizers Market
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