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Polymer stabilizer is chemical compound, which is used while manufacturing plastic products to prevent the degradation of the products caused by direct exposure to environmental conditions. It prevents plastics & rubbers from thermal degradation, damage through UV exposure, and oxidation. It allow the polymer to retain its properties for a longer time period. The global polymer stabilizer market covers different types of industries such as construction & infrastructure, manufacturing, oil & gas, and automotive.
Top Impacting Factors:
The growth of the polymer stabilizer market seems to be promising as the demand for polymers or plastic is expected to grow in the forecast period. The rise in demand for polymer stabilizers is driven by many factors such as the penetration of plastic as an effective substitute for glass, wood, and metal due to its ease of use, durability, and cost-effectiveness, which impacts the polymer industry positively. The application of plastics in various end-user industries, which include packaging, agriculture, medical, construction, automotive, electronics, jewelry, and others leads to drive the market growth.
Moreover, there is high demand for plastic products in developing countries such as India, China, and South Africa, which is expected to drive the growth of the market during the forecast period. Furthermore, the rise in urbanization across the globe has increased the demand to build infrastructure such as residential and transportation. By 2050, the global population is estimated to grow approximately by two billion from 7.7 billion to 9.7 billion, hence increasing population drives the growth of the market.
Factors such as the high manufacturing cost for stabilizer. Secondly the stringent government regulations on utilization of the chemicals and materials which slowdowns the polymer stabilizer market growth. The sales for polymer stabilizer decreased in the year 2020, due to imposition of lockdown by the government of many countries. The COVID-19 pandemic has decreased production level due to presence of limited capacity of employee due to strict COVID-19 rules. This has hampered the growth of this market significantly during the pandemic.
Segmental Overview:
The polymer stabilizers market is segmented on the basis of product type, end-user, and region. By product type, it is divided into antioxidant stabilizers, light stabilizers, heat stabilizers, and antiozonant stabilizers. By end-user, it is classified into packaging, automotive, building & construction, consumer goods, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By product type: The polymer stabilizers market is divided into antioxidant stabilizers, light stabilizers, heat stabilizers, and antiozonant stabilizers. The segment includes all the polymer stabilizers offered by the manufacturers such as Tinuvin®, Uvinul® and Chimassorb®, and others. Companies such as Bayers AG, BASF SE, chemtura corporation and others. provide a complete range of plastic additives. Polymer stabilizers manufacturers and distributors have started marketing of the company to widespread the products and increase the sale and revenue of the polymer stabilizers.
By end-user: The polymer stabilizers market is categorized into packaging, automotive, building & construction, consumer goods, and others. The packaging industry has a wide use of plastics or polymer which is used in all different sector of industries hence dominates the market share in end-user segment followed by the consumer goods and the automotive sector. Growth in population and high disposable income which leads to high demand for modern convenience and ready to eat packaged product which drives the market growth.
By region: The polymer stabilizers market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific region dominates the market share in polymer stabilizers market, due to extensive demand for the decorative products made from plastics. The major players are striving to develop manufacturing units in these markets to improve production quantities as well as serve the Asian industries including construction, electronics, plastics, automotive, and others.
Major global players in the polymer stabilizers market are strengthening their businesses and offerings in Asian region, realizing the extensive growth opportunities for industrial growth in the country. Moreover, China is one of the major exporters of polymer stabilizers globally. The rapid industrial development of China has motivated polymer stabilizers manufacturers to establish their production units in the country. The low labor and material costs in China help manufacturers produce this at lower prices. The Chinese polymer stabilizers market also includes many small manufacturers who generally, serve the Asian demand. Furthermore, industries such as manufacturing, energy, mining, and agriculture are some of the major industries in China. Hence, the development of these industries creates opportunities for the growth of polymer stabilizers in China.
Competitive Analysis:
Competitive analysis and profiles of the major players in the polymer stabilizers such as, ADEKA Corporation, Akzo Nobel N.V., BASF SE, Baerlocher GmbH, Clariant AG, Cytec Solvay group, Kyowa Chemical Industry Co. Ltd., Songwon Industrial Co. Sumitomo Chemical Co. Ltd., TCI America are provided in this report. Major players have adopted technological advancement & product launch, acquisition, business expansion as key developmental strategies to improve the product portfolio of the polymer stabilizers market. For instance, in press release of 12 Nov, 2022, SONGWON industrial, Co,. Ltd listed the new launches in K 2022 which includes two new products SONGNOX® 9228 antioxidant and SONGSORB® 1164 UV absorber these products are used in, building & construction agriculture, home & personal care applications and packaging industry.
Key Market Segments
Key Market Players