Polymer stabilizers market

Global Polymer Stabilizers Market is projected to reach around US$ 14.97 Billion by 2030, in terms of revenue, exhibiting a CAGR of 7.7% during the forecast period (2023-2030).

Global Polymer Stabilizers Market: Drivers

• Development of organic stabilizers: Development of organic stabilizers is expected to hold lucrative growth opportunities over the forecast period. This is attributed to the growing public health and environmental concerns as use of heavy metal stabilizers leads to various environmental concerns. Ongoing research &development on bio-based plastics is projected to bring bright market opportunities. For instance, in September 2020, Bicocca University of Crowdfunding has launched new research projects "100% Bioplastic” to develop a new material of natural and biodegradable origin.
• Increase in demand for lightweight automobile: Growing trend of lightweight automobiles is increasing production of automobiles. Use of plastics in automotive industry improves the fuel-efficiency of vehicle. Automotive components that are made using plastics are impellers, pump housings, carburetor floats, reservoirs, bumper, locks, door handles, steering wheel, cup holders, seatbelt, head rests, dashboard, lightings, bumpers, liquid reservoirs, etc.

Global Polymer Stabilizers Market: Restraints

• Strict regulations and ban on single use plastic: Ban on plastics bags across various countries is expected to hamper the market growth. For instance, in 2019, the European parliament has voted to ban single-use plastic cutlery, cotton buds, straws, and stirrers as part of a sweeping law against plastic waste that despoils beaches and pollutes oceans. EU member states are trying to introduce measures to reduce the use of plastic food containers and plastic lids for hot drinks. By 2025, plastic bottles should be made of 25% recycled content, and by 2029, 90% of them should be recycled in Europe. Unfavorable condition arising due to the negative impact of the Covid-19 on the global economy is again expected to restrict the market growth.  

 Global Polymer Stabilizers Market: Opportunity

• Growing public health & environment concerns : Development of organic stabilizers is expected to hold lucrative growth opportunities over the forecast period. This is attributed to the growing public health and environmental concerns as use of heavy metal stabilizers leads to various environmental concerns.
• Bio-based plastics to increase Polymer stabilizers market demand: Ongoing research &development on bio-based plastics is projected to bring bright market opportunities. For instance, in September 2020, Bicocca University of Crowdfunding has launched new research projects "100% Bioplastic” to develop a new material of natural and biodegradable origin.

Global Polymer Stabilizers Market: Trends

• Growing trend of Digitalisation: Strong growth of e-commerce sector due to growing trend of digitalization is contributing to the growth of the packaging industry. For instance, during 2018, express delivery companies delivered around 49 billion parcels in the China, which reflects about 23% increase over the previous year. The country witnessed rapid growth in the fast-moving consumer goods (FMCG) sector, during 2018. Growing trend of lightweight automobiles is increasing production of automobiles. Use of plastics in automotive industry improves the fuel-efficiency of vehicle. Automotive components that are made using plastics are impellers, pump housings, carburetor floats, reservoirs, bumper, locks, door handles, steering wheel, cup holders, seatbelt, head rests, dashboard, lightings, bumpers, liquid reservoirs, etc.

Global Polymer Stabilizers Market: Key Developments

• In April 2023, Acquisition of Shares in Interagro (UK) Limited by Nichino Europe Co. Ltd. Interagro is a UK-based manufacturer and distributor of adjuvants and biostimulants. Through this acquisition of shares, Nichino Group aims to expand our business portfolio beyond synthetic chemical pesticides in order to realize our vision of becoming a leading company in the life science field.
• In February 2023, ADEKA CORPORATION (President and Chief Executive Officer: (Hidetaka Shirozume) has decided to expand and relocate the R&D Center of ADEKA KOREA CORPORATION to Hwaseong in order to significantly expand the R&D functions of the Electronics and IT materials business.
• In August 2023, Solvay and Agru sign long-term supply agreement for use of Solef® PVDF in high-purity semicon water piping systems.

Global Polymer Stabilizers Market: Regional Analysis

• Regionally, Asia-Pacific region is expected to account for the largest revenue share in the global polymer stabilizers market during the forecast period. The major reason for this is the rapid industrialization and the rise in the automobile industry in the region. Moreover, China, which is the world's second largest economy, is expected to contribute to the growth of the polymer stabilizers market. Furthermore, rising population in the region is supporting the demand for packaged goods.
• The Europe and North America regions are predicted to exhibit moderate growth rates. The rise in the consumer awareness regarding environmental concerns is promoting the adoption of these products. Rise in construction activities coupled with the economic growth of the countries in the region are other key factors propelling growth of the market in these regions.  

 Figure 1. Global Polymer Stabilizers Market Share (%), By Region, 2022

Global Polymer Stabilizers Market: Segmentation

• The global polymer stabilizers market report is segmented into Product Type, End User, and Region
• Based on Product Type, the market is segmented into Antioxidants, Heat Stabilizers, and Light Stabilizers. Out of which, Antioxidants is expected to dominate the global market over the forecast period and this is attributed to the fact that they prevent the rate of auto oxidation by interfering with the radical propagation reaction.
• Light Stabilizers segment is also expected to witness significant growth in the near future owing to the growing demand for UV absorber for blocking the harmful UV rays and thus delaying aging of plastic products.
• Based on End User Industry, the market is segmented into Packaging, Automotive, Consumer Goods, Building and Construction, and Other End User Industries. Out of which, Packaging is expected to dominate the global market over the forecast period and this is attributed to the growing retail sector worldwide which is creating demand for plastic in packaging sector.
• Automotive segment is also expected to witness significant growth in the near future owing to the growing trend of lightweight automobile for improving fuel-efficiency of the vehicles. Plastics are used to fabricate lightweight component of automobile.

Figure 2. Global Polymer Stabilizers Market Share (%), By Product Type, 2022

Global Polymer Stabilizers Market: Impact of Coronavirus (COVID-19) Pandemic

Around the world, the COVID-19 outbreak had a negative effect on a number of industries. Companies are operating remotely as a result of the government's strict rules and regulations designed to stop the infection from spreading. Many businesses are attempting to put strict controls in place to operate with the fewest risks possible. Several number of businesses shut down their manufacturing facilities that had a negative effect on the market for mineral salt ingredients. Lack of workers has stopped all mining and extraction activities.

Global Polymer Stabilizers Market: Key Companies

Key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis. Some of the key players in the global 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

*Definition: Polymer stabilizers are used in the plastic manufacturing industry. These chemicals are designed to prevent the degradation of the plastic in a controlled manner. These chemicals also help in prolonging the useful life of the plastic product. These chemicals are categorized as peroxide decomposers, radical chain initiation inhibitors, and radical scavengers.

Polymer Stabilizers Market Detailed Segmentation:

• By Product Type:
  • Antioxidants
  • Heat Stabilizers
  • Light Stabilizers
• Market, By End-User:
  • Packaging
  • Automotive
  • Consumer Goods
  • Building and Construction
  • Other End User Industries
• By Region:
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa