Heat stabilizers market has found increasing growth due to the expanding use of the product in various industries such as automotive and construction. The growth of these related industries will be potentially reflected on the growth of the heat stabilizers market during the forecast period. For instance, auto manufacturers are dedicating significant resources to develop autonomous, electric and hybrid vehicles. These OEMs are also required to cater to demand for increased connectivity in every class of vehicle, including cars with internal combustion engines. Automotive light weighting, a strategy that is designed to reduce vehicle weight is n ow required for reasons much more diverse than fuel efficiency and emissions reductions. At present, engineers want lightweight materials that enhance design and performance of molded and machined parts.
For the past few decades, automotive designers replaced heavier metal components with engineering plastics and composites. This practice has now broadened beyond exterior components and interior fixtures. advances in polymer technology has made it possible for engineers to have a wider range of new and lighter options for underhood and drivetrain components. Significantly, these materials offer greater design liberty and fit in well with the light weighting strategies. But these replacements also necessitate the use of products like heat stabilizers thus acting as indirect drivers for the heat stabilizers market.
In the construction industry as well, heat stabilizers are being widely used as they are being made necessary by innovative solutions for polymer improvement. Polymers are being used in making roofs and outdoor decks more weather-proof, window frames more aesthetic, and due to the protection given by light stabilizers as well as a strong heat resistance resulting from the use of antioxidants or heat stabilizers, plastics for industrial, building and construction solutions are well protected against temperature or even against intense UV radiation, as well as other difficult weather conditions.
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Heat stabilizers market has been classified by form, type and application.
By form, the heat stabilizers market has been segmented into solid and liquid.
By type, the market has been divided into metallic soaps, organotin, and others.
By application, the market has been categorized into profiles & tubing, pipes & fittings, coatings & floorings, wires & cables, and others.
Some of the prominent companies operating in the heat stabilizers market include Kisuma Chemicals, Goldstab Organics Pvt Ltd, Galata Chemicals, Modern Chemicals and Plastics, Adeka Corporation, Baerlocher GmbH, Amfine Chemical Corporation, Chemson Polymer-Additive AG, Clariant, BASF SE, Bruno Bock and Reagens SPA.
Asia Pacific has emerged as one of the region of high growth for the Heat Stabilizers Market as nations like India and China with their burgeoning manufacturing industries have created a massive demand for heat stabilizers. Besides the easy investment norms, inexpensive labor and low production cost in the region are factors that can add to the growth of heat stabilizers market. For instance, the automobile industry in Asia Pacific has increased the demand for PVC as the prevalent trend for light weighting of vehicles has led to plastic and composite materials replacing metal parts.
Healthcare industry expansion has also played a significant role in the growth of the heat stabilizers market as the requirement of PVC in the manufacturing of flexible containers and tubing. The encouragement by Asian governments for electronics and footwear industries will also add a considerable boost to the overall heat stabilizers market.
In terms of revenue share in the heat stabilizers market, Europe follows that of Asia Pacific. The well-established automotive industry in the region is expected to be one of the reasons behind this expansive growth. OEMs in the region are using innovative composite materials to increase fuel efficiency which in turn are increasing the need of heat stabilizers. Stringent regulation on the use of heat stabilizers that can harmful to the environment has urged the use of organic and mixed metal heat stabilizers in Europe. Also growing building and renovation activities in the region are expected to boost the product market during the forecast period.
The heat stabilizers market has also received considerable stimulus from the North America region due to growing construction & renovation activities, electronics industry and a robust demand from the healthcare industry mostly from the United States.
Due to massive infrastructural projects underway in Qatar and UAE, the Middle East & Africa heat stabilizers market is expected to witness significant growth over the forecast period.
Moderate growth is expected to be registered by Latin America heat stabilizers market due to the construction activities and infrastructure enhancement in Brazil, Mexico, and Argentina.
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