by The 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 chemical compounds added to polymers or compositions to protect them against degradation caused by light, oxidation, heat and other environmental factors. Common products made from polymers that benefit from stabilization include plastic food packaging, siding, pipes, wire and cable insulation, carpet fibers and synthetic fibers. Polymer stabilizers help to maintain the integrity and performance of polymers during processing, transportation and end-use.
Market Dynamics:
The increasing demand for plastics and polymers from the automotive, packaging, construction and other end-use industries is the major factor driving the polymer stabilizers market growth. According to PlasticsEurope, global plastics production reached 360 million tonnes in 2018 and is expected to grow further in the coming years. Polymer stabilizers play a crucial role in extending the life of plastics and polymers by protecting them against environmental degradation. Furthermore, stringent regulations regarding the use of compounds containing lead, cadmium and other heavy metals are also favoring the demand for eco-friendly and non-toxic polymer stabilizers.
Another key driver for the polymer stabilizers market is the increasing consumption of PVC (polyvinyl chloride) globally. PVC requires heat and light stabilizers to remain structurally strong and maintain a consistent color during processing and end-use. It is one of the most widely used plastics globally with applications in pipes, window frames, cables, flooring and medical devices among others. The global PVC market size was valued at over US$ 60 billion in 2018 and demand is projected to continue surging especially in the emerging nations of Asia Pacific.
Segment Analysis
The global polymer stabilizers market can be segmented into antioxidants, heat stabilizers, light stabilizers, and others. The antioxidants segment currently dominates the market and accounts for over 35% of the total market share. This is because antioxidants play a crucial role in protecting polymers from degradation caused by oxidation during processing or end-use. They help extend the lifecycle of polymers by preventing the formation of cracks and breaks.
PEST Analysis
Political: Stringent regulations regarding the use of chemical stabilizers in food contact materials and children’s toys can restrain the market growth. However, supportive government policies for the polymer industry develop new opportunities.
Economic: The rising disposable incomes and growing demand for specialty polymers from industries like automotive and packaging are fueling the polymer stabilizers market expansion.
Social: Increasing health awarenessamong consumers has led to demand for non-toxic and environmental-friendly polymer stabilizers.
Technological: Advancements in polymer synthesis and development of bio-based and multifunctional stabilizers have helped address various performance requirements.
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 the construction and automotive industries.
The Asia Pacific region is expected to dominate the global polymer stabilizers market over the forecast period. This is attributed to the rising polymer consumption in the region supported by rapid industrialization, urbanization, and infrastructure development activities particularly in China, India, Thailand, Indonesia, and Vietnam.
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. These players are focused on new product launches, strategic partnerships, and facility expansions to strengthen their global presence. For instance, in December 2020, BASF commissioned a new plant for light stabilizers in Thailand to cater to the rising polymer demand in Asia Pacific.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
