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Plastics play a colossal role in our daily lives, dominating various essential applications like packaging films, containers, fibers, PVC pipes, automotive design, agricultural films, and more. At the core of this pervasive plastic use lies the crucial component known as plastic stabilizer.
In the realm of packaging, the transition from traditional materials like papers and leaves to plastics has been a game-changer. The convenience and practicality that plastics offer have led consumers to prefer plastic packaging, altering age-old practices. Agriculture, too, has witnessed a shift with the aggressive integration of plastic stabilizers. Greenhouse films and mulches, made possible by these stabilizers, have become integral components in modern agricultural practices. Furthermore, the widespread use of plastics in everyday items, consumer goods, electrical appliances, and construction materials has spurred a growing demand for plastic stabilizers.
The epicenter of this surge in demand is the Asia Pacific region, which stands as the largest and fastest-growing market for plastic stabilizers. Notably, the robust demand from developing powerhouses like China and India has propelled the global market for plastic stabilizers. Projections indicate that the Asia Pacific region will contribute to over 40% of the global plastic stabilizer market in the next five years. This unprecedented growth is notably witnessed in countries like China, Japan, South Korea, and Taiwan, where the electrical and electronic industry has undergone significant advancements. The upswing in plastic stabilizer consumption is intricately linked to the remarkable strides made in infrastructure development, particularly in China and India, fueled by substantial investments.
The allure of plastic stabilizers lies in their ability to enhance the durability and performance of plastics, making them more suitable for diverse applications. These stabilizers act as guardians, ensuring that the integrity of plastics is maintained, especially when subjected to external factors such as heat, light, and other environmental conditions.
As industries continue to rely heavily on plastics for their varied needs, the demand for plastic stabilizers is poised to escalate further. The reliance on plastic packaging, the agricultural shift towards plastic-based solutions, and the persistent use of plastics in sectors like electronics and construction underscore the indispensability of plastic stabilizers in our modern, plastic-dominated world.
The widespread consumption of plastics in our daily lives has placed plastic stabilizers at the forefront of ensuring the resilience and adaptability of plastic materials. The escalating demand, particularly in the dynamic Asia Pacific region, signifies the pivotal role that plastic stabilizers play in sustaining and advancing our plastic-dependent way of life.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | By Type, Application and Region |
Plastic Stabilizer Market Highlights:
Plastic Stabilizer Market Overview
The Plastic Stabilizer Market in the global market is expected to grow at a high CAGR of 4.5% to reach a market value that will account for USD 9231.3 million by the end of the forecasted period 2022-2030.A type of plastic additive which is used for increasing the plastic properties is generally named a plastic stabilizer. Some of these properties are prevention of oxidation, protection from high temperatures and harmful UV rays, and chain scission (at high temperature, the molecular deterioration in the stabilizers in polymer). These properties help in making the plastic more weatherable for the substrate for maintaining the viscosity in the material which further helps in fabrication and processing. The major applications in which plastic stabilization is used are toys, window profiles, packaging films, pipes, cable ducts, automotive components and many other in the global market.
COVID 19 Analysis
The situation of the global pandemic of COVID 19 has affected the normal lives of the people as now one has to fight for financial front along with the health front. Owing to the lockdown situation and post lockdown situation, the economies are pushed towards forced recession as revenues are dropped to extreme depth. Because of the shutdown of various manufacturing units, the plastic stabilizer market also observed a deep downfall in revenues and suffered a great amount of loss.
It is expected that the Plastic Stabilizer Market will recover from this global pandemic situation at the end of the first quarter and the beginning of the second quarter in the global market during the forecasted period.
December 2023 – Irgastab® PUR 71 will be introduced by BASF next month. This is an innovative antioxidant designed to improve regulatory compliance as well as performance in polyols and polyurethane foams.
November 2023 – Swiss specialty chemicals company focusing on sustainability, Clariant, has signed a supply agreement with Conser, a MAIRE Group subsidiary, for maleic anhydride catalysts. The partnership aims at jointly developing next-generation catalysts based on Clariant’s popular SynDane series for improved productivity, cost efficiency and sustainability.
Market Dynamics
- Drivers
Owing to the increase in demand for the different plastic stabilizers in the plastic stabilizer market in the global market is growing at a tremendous pace. Another factor that drives the plastic stabilizer market is the increasing use of heat stabilizers and the rising demand for thermal for inhabiting deterioration for plastic polymer stabilizer that are heat prone. These plastic stabilizers are ultra-violet absorbers and hence protect the environment as well.
- Opportunities
The increasing demand for plastic stabilizers in the global market. Owing to the increasing demand for fire retardants specifically urethane, polyester, and PVC plastics provides various growth opportunities during the forecasted period. Also, the increasing demand of the automotive industry and construction industry and the use of plastic stabilizers in them provide growth opportunities to the plastic stabilizer market.
- Restraints
The Plastic Stabilizer Market is increasing at a high pace but some factor restrains the growth of the Plastic Stabilizer Market in the global market like increasing regulation for use of lead in various plastic stabilizers hampers the growth of the plastic stabilizer market in the global market. Another factor that hinders the growth of the Plastic Stabilizer Market is the increasing restrictions on using plastic products and various campaigns regarding the ban of plastic restrain the growth.
Value Chain Analysis
The Plastic Stabilizer Market has gained a lot of popularity and is expected to grow even further during the forecasted period. The growth of the Plastic Stabilizer Market is accelerating owing to the increasing construction of malls, PVC flooring homes, buildings, and hotels in the Middle East and the Africa region help in increasing the infrastructure of this region. Also, the U.S. which is the dominating sector is investigating a great amount in the Plastic Stabilizer Market and hence helps in its growth in the global market.
Market Segmentation
The Plastic Stabilizer Market in the global market has been divided based on the type, material, and end-use industry.
Based on Type
The Plastic Stabilizer Market in the global market has been divided based on the type into antioxidant type, heat stabilizer type, light stabilizer type, and many others. Out of all these types, the largest market share is held by the heat stabilizer owing to its increasing use in the construction and building industry. Antioxidant type is also increasing at a fast pace.
Based on Material
The Plastic Stabilizer Market in the global market has been divided based on the material into elastomers material, thermosetting material, and thermoplastic material. The largest share is held by the thermoplastic material owing to its use in the automotive industry, packaging industry, consumer goods industry, and many other industries.
Based on End-Use Industry
The Plastic Stabilizer Market in the global market has been divided based on the end-use industry into the automotive industry, building and construction industry, packaging industry, electrical and electronics industry, agriculture industry, consumer goods industry, and many others. The largest market share is held by the packaging industry.
Regional Analysis
The Plastic Stabilizer Market in the global market has been divided based on the region into North America region, Asia-Pacific region, Europe region, the Middle East and Africa region, and the Latin America region. The largest market share has been held by the Asia-Pacific region owing to its increasing demand for manufactured consumer goods. Its increasing production capacity is another factor which makes helps in dominating the global market.
The second-largest market share in the global market is held by the North American region owing to the presence of the U.S. who dominates in the North American region and is estimated to grow further during the forecasted period. The third-largest market share in the global market has been held by the Europe region. In the European region, Germany holds the largest share and dominates the market owing to the well-established automotive industry followed by the Latin America region, the Middle East, and Africa region respectively.
Competitive Landscape
The most prominent key market players in the Plastic Stabilizer Market in the global market are as follows:
- BASF SE (Germany)
- Songwon Industrial Co., Ltd. (South Korea)
- Clariant AG (Switzerland)
- Akzo Nobel N.V. (The Netherlands)
- Evonik Industries AG (Germany)
- ADEKA CORPORATION (Japan)
- Solvay SA (Belgium)
- INDOFIL INDUSTRIES LIMITED (India)
- Bruggemann Group (Germany)
- Baerlocher GmbH (Germany)
These market key players use various policies and strategies like innovation in production style, the launch of a new product, collaboration, mergers and acquisitions, and partnerships for sustaining their position in the global market.
Recent Developments
- Owing to the increasing usage of hindered amine light stabilizers (HALS) for the increasing use of energy-efficient plastic mostly in the construction industry, the packaging industry is increasing at a very high pace and hence drives the market during the forecasted period.
- Owing to the capacity of survival in extreme conditions like heat, humidity, and light the packaged products like food packaged items and bottles are increasing in the global market as it reduces the premature failure during the life of the product because of the presence of various stabilizers.
- With the growing technology now plastic stabilizers are entering the agriculture sector as well by providing agriculture packaging services which are specifically designed for protection from extreme temperatures, chemicals, and heat, and owing to this advantage it is commonly used in mulches, tunnels, and irrigation system.
- Owing the increasing demand in the United States for the retail market leads to growth of the packaging industry during the forecasted period.
- Owing to the highly effective and cost-efficient, PVC flooring is trending for about 50 years and used in various private and public sectors like schools, hotels, and other commercial places as it is durable.
December 15, 2021 – Reagens and Evans Chemetics, a wholly owned subsidiary of Bruno Bock, have reached the final agreement under which Reagens USA is acquiring Evans Chemetics’ Thioester Business comprising the Evanstab® family of secondary antioxidants products.
Report Overview
The Plastic Stabilizer Market research report consists of the following aspects:
- Market Overview
- COVID 19 Analysis
- Market Dynamics
- Value Chain Analysis
- Market Segmentation
- Regional Analysis
- Competitive Landscape
- Recent developments
The Plastic Stabilizer Market research report contains the factors that drive the global market along with the restraining factor. This research report also contains the past functions of the plastic stabilizer market and the impact of the global pandemic on the revenue of the Plastic Stabilizer Market. The future market growth of the plastic stabilizer market is also estimated and mentioned.
User
Consulting in chemical experts, investors and trade experts, government bodies, association bodies, and industrial bodies, suppliers and traders, manufacturers and distributors of plastic stabilizers, manufacturers and distributors of plastic stabilizers, and many others.
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