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| Polymer Stabilizers Market |
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 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Polymer stabilizers are commonly used to prevent degradation and improve the
shelf life of polymers. Ultraviolet light stabilizers are extensively used as
polymer stabilizers to protect polymers from photo-oxidation and discoloration
caused by UV radiation. Rising demand from end-use industries such as
automotive, building and construction is driving the demand for UV light
stabilizers, thereby fueling the growth of the global polymer stabilizers
market.
Market Overview:
Polymer stabilizers are additives that are added to polymers to extend their
lifespan by protecting them from environmental factors such as heat, light and
oxidation. UV light stabilizers protect polymers from degradation caused by UV
radiation. There is extensive use of UV light stabilizers in applications such
as durable coatings, films, pipes and sheets where long-lasting performance is
essential.
Market key trends:
One of the key trends in the polymer stabilizers market is the growing demand
for non-tin UV absorbers. Traditional tin-based UV absorbers are being replaced
by alternative non-tin UV absorbers due to environmental and regulatory issues
related to tin compounds. Non-tin UV stabilizers such as hydroxyphenylbenzotriazoles
and triazines are gaining popularity. These stabilizers are increasingly used
in applications such as agricultural films, automotive parts and packaging due
to their capability to provide protection from UV degradation without harming the
environment.
Segment Analysis
The global polymer stabilizers market is segmented into antioxidants, heat
stabilizers and light stabilizers, among others. The antioxidants segment
dominated the overall market in 2022, accounting for around 35% share of the
total market revenue. Antioxidants helps in protecting polymers from
degradation caused by heat, light and other factors. Due to their wide
applications across various end-use industries like packaging, construction and
automotive, the demand for antioxidants is high, driving the growth of this
segment.
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 demand from various end-use industries like
packaging, construction and automotive.
Regional analysis - North America held the largest share of around 35% of the
global polymer stabilizers market revenue in 2022. However, Asia Pacific is
expected to witness the highest growth during the forecast period owing to
rapid industrialization and expanding manufacturing sector in countries like
China and India.
Key players - 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. The market is fragmented in nature with top 5 players accounting for
around 35-40% of the global revenue. Companies are investing in R&D to
develop innovative products and expand their geographical footprint.
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