Asia-Pacific region is projected to be the fastest-growing market for polymer stabilizers 2022

Polymer stabilizers prevent the degradation of polymers which can be induced by light, heat, weathering, or oxygen. The global size of the polymer stabilizer market was estimated at USD 6.88 billion in 2017 and is projected to reach USD 8.35 billion by 2022, at a CAGR of 4.0% from 2017 to 2022. The replacement of conventional materials by plastics in various industries, along with the increasing demand for light stabilizers in the Asia Pacific is driving the polymer stabilizer market.

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Capacity expansions, new product launches, contracts & agreements, and mergers & acquisitions are the strategies adopted by the key players to strengthen their positions in the polymer stabilizer market. New product launches, and capacity expansions are the two key strategies adopted by major players such as BASF SE (Germany), Clariant International Ltd. (Switzerland), and Songwon Industrial Co., Ltd. (South Korea).

Heat stabilizer accounted for the largest share in terms of value, of the overall polymer stabilizer market in 2016. The market is led by the heat stabilizer segment majorly due to a strong demand from the plastics industry, especially for PVC products such as pipes, conduits, and fittings. However, the market for the light stabilizer is projected to grow at the highest CAGR in terms of value, from 2017 to 2022. The rapidly growing demand from the packaging and building & construction industries is leading to an increasing demand for UV stabilizer products, thus boosting the demand for the polymer stabilizer.

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The packaging end-use industry accounted for the largest share of the overall polymer stabilizer market in 2016, in terms of value. This is due to the rising income levels, growing employment opportunities, improving economic conditions, and the rising standards of living of consumers who are looking for more convenience packaging products. The rise in the use of plastics in heavy and light packaging is expected to drive the demand for polymer stabilizer in various end-use applications in the packaging segment. The aging population in regions including the Asia Pacific and Europe is leading to an increasing demand for pharmaceutical packaging.

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The Asia-Pacific region is projected to be the fastest-growing market for polymer stabilizers from 2017 to 2022, in terms of value. High economic growth in emerging economies and increase in disposable incomes have made the region an attractive market for polymer stabilizer manufacturers. Increasing construction activities along with higher real disposable incomes are primarily responsible for the high demand for polymer stabilizers in the region.

Also, an increase in the demand for agricultural output in the region, is leading to an increasing demand for heat stabilizers in irrigation pipes, as well as in greenhouses. The countries considered in the Asia-Pacific region are China, Japan, India, South Korea, Thailand, Indonesia, Australia, and Rest of Asia-Pacific.

Reference:

https://www.marketsandmarkets.com/Market-Reports/polymer-stabilizer-market-262329717.html?utm_source=blog%2FML

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