by Market Overview:
Polymer stabilizers are used to protect polymers from degradation caused due to processing, weathering, and other applications. Polymer stabilizers inhibit degradation of polymers induced by heat, oxidation, UV light and other environmental factors. They enable extended use of polymers in various applications.
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 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the polymer stabilizers market is the development of multifunctional stabilizers. Earlier, polymer stabilizers were developed to provide a single function i.e. either thermal stability or UV stability. However, with growing demand for stabilized polymers, manufacturers are offering stabilizer packages with blended functionality. These multifunctional stabilizers provide protection against multiple degradation factors such as heat, oxidation and UV light. They help reduce degradation of polymers used in applications exposed to multiple environmental stresses. This trend allows for development of stabilized polymers with enhanced durability and stability.
SWOT Analysis
Strength: The polymer stabilizers market is experiencing high demand from various end-use industries such as construction, automotive, and packaging.
Polymer stabilizers help enhance properties of plastics and polymers and extend their lifespan.
Weakness: Stringent regulations regarding the use of certain chemical stabilizers may hamper market growth. Some stabilizers containing heavy metals pose environmental and health hazards.
Opportunity: Growing construction industry in emerging nations and increasing use of plastics in various applications offer significant growth opportunities. Also, development of bio-based and environment-friendly polymer stabilizers presents new opportunities.
Threats: Volatility in raw material prices may increase overall production cost. Also, slowdown in certain end-use industries acts as a market threat.
Key Takeaways
The Global Polymer Stabilizers Market Size is expected to witness high growth, exhibiting CAGR of 7.7% over the forecast period, due to increasing demand from the construction industry. Widespread usage of plastics in various construction applications such as pipes, fittings, insulation materials, and profiles drives the market.
Regional analysis: Asia Pacific dominates the global polymer stabilizers market and is expected to continue its dominance during the forecast period. Abundant availability of raw materials and growth of end-use industries in countries such as China, India, and Japan are factors pushing the regional market.
Key players operating in the polymer stabilizers market include 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 with the presence of numerous global and domestic players. Key players are focused on new product launches, mergers, and capacity expansions to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
