Plastic stabilizer is an important type of additive used in adding value to the end product and improve the desired properties of material. The stabilizers are broadly classified in heat stabilizer, light stabilizer, and antioxidant. The major applications of heat stabilizers can be seen in vast number of industries including packaging, automotive, consumer products, and building & construction industry. The global plastic goods market is growing at a significantly higher CAGR to reach a three digit billion dollar figure, which is expected to push the growth of the global plastic stabilizer market during the forecast period. Packaging, especially, food & beverages packaging industry is expected to fetch major share of demand for plastic stabilizer. Apart from packaging materials, the ability of plastic stabilizer to produce better, durable, stronger, and at the same time relatively cheaper materials such as molded containers, films, and cushioning is expected to fuel its demand during the review period.
Key Players Profiles and Competitive Analysis:
Some of the key players in the global plastic stabilizer market are SONGWON (South Korea), BASF SE (Germany), Clariant AG (Switzerland), PMC Group, Inc. (U.S), Akzonobel NV ( the Netherland) , Evonik Industries AG (Germany), Albemarle Corporation (US), Solvay SA (Belgium), L. N. Chemical Industries (India), and Styro Chemical Industries (India), among others..
The study was conducted using objective combination of primary and secondary information including inputs from key participants in the industry. The report contains comprehensive market and vendor landscape in addition to SWOT analysis of key vendors.
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The global plastic stabilizer market is segmented on the basis of type, end use industry, and region. On the basis of type, the market is divided into heat stabilizer, light stabilizer, and antioxidant. Among these types, heat stabilizer holds maximum number of share of the global plastic stabilizer market. This is attributed to the increasing demand from pipe making industry for heat treating polyvinylchloride (PVC) material.
Light stabilizers are a group of additives that are added into plastics to minimize or prevent the damage to plastics caused by exposure to the environmental parameters of light, heat and air. The light stabilizers are further segmented into Benzophenones, benzotriazoles, Hindered Amine Light Stabilizers (HALS).
Antioxindant is an important type of plastic stabilizes, which witness rising demand in packaging Industry.
Based on the end use industry, the global plastic stabilizer market is segmented into packaging, automotive, building & construction, consumer goods, and others. Among them, the use of plastic stabilizer in the manufacturing polymeric material to be used in packaging is expected to lead its overall demand and the growing demand for harmless, eco-friendly and mainly a bio-degradable packaging materials by consumers.
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Asia Pacific, North America, Europe, the Middle East & Africa, and Latin America are the major regions in which the global plastic stabilizer market is segmented. Among them, Asia Pacific is growing at the highest CAGR owing the rising population and increasing demand for the product in packaging industry. India, China, and Japan are the leading markets in this region due to the presence of leading end use industries such as building & construction, and packaging. North America is the second most substantial region in the global plastic stabilizer market. This is attributed to an increasing demand for plastic stabilizer in the region driven by growing use of packaging in both household and industrial applications. The U.S is the major market in this region due to the presence of major key players and technological advancements in the field of green chemistry. Europe holds a significant market share following North America on account of an increasing research and development in plastic materials. Countries namely the U.K, Germany, Belgium, and the Netherlands are the major markets in this region. The Middle East & Africa is holding comparatively smaller share in the global plastic stabilizer market. In coming years, the region is anticipated to gain momentum with an increasing use of plastics in construction and food industry. Latin America is a growing at a significant rate in the global plastic stabilizers market to join hands with the leading regions in the market.
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