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(MoneyNewsWire.Net, March 14, 2018 ) Plastic Stabilizer Market – Overview
With rapid increase in the usage of plastics worldwide, the market for Plastic Stabilizers is flourishing exceedingly well. Market Research Future, a firm which specializes in market reports related to the Chemicals and Materials sector among others, published in its recent report on Plastic Stabilizer Market Research Report- Forecast to 2023 that the market is anticipated to grow s expected to grow at a CAGR of 4.49% and is anticipated to reach USD 8,577.1 million till 2023.
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Plastic Stabilizer mainly works like a type of plastic additive that enhances the properties of plastics. The demand surge recorded for plastics in various sectors, especially in the automobile sector have provided a huge boost to the plastic stabilizer market. High levels of plastic usage in various other applications have also motivated the plastic stabilizer market further. Application of plastic stabilizers in the package industry for example has also boosted the demand level for this market. Use of plastics in packaging of FMCG goods especially has significantly boosted the demand levels for the plastic stabilizer market.
The addition of plastic stabilizers improves the quality of plastics in its various applications, thereby creating a positive demand level for the market. Incremental levels of population growth in the recent years have further developed this market indirectly, by way of rise in demand for plastic product. The sector may face certain hindrances in the form of chemical risks in the production process and government regulations and quality standards.
Latest Industry News:
Nov 2017: Addivant, the world’s leading supplier of liquid phosphite antioxidants for plastics, announced recently that China’s National Health and Family Planning Commission (NHFPC) has expanded the usage limit for its nonylphenol-free stabilizer, WESTON 705, in polyethylene from 1500ppm to 2000ppm. The result of more than seven years of research and investment, WESTON 705 is the most thoroughly tested new plastic antioxidant on the market.
April 2017: LANXESS Corporation, a former subsidiary of the former Bayer MaterialScience, has completed its acquisition of Chemtura. With this acquisition, Lanxess significantly expands its market position for flame retardant additives. The high-effectiveness of the bromine flame retardant additives used among others in the construction industry, are an ideal complement for the existing Lanxess business with phosphorus-based flame retardant additives.
Oct 2017: Solvay S.A., has launched its latest innovation in the stabilization technology portfolio. The Cyasorb Cyxtra V9900 is a UV stabilizer that aids reinforced plastics and thermoplastic olefins to meet regulations mandated by governmental bodies to reduce CO2 emissions. Due to the new norms there is a surge in the demand for reinforced plastics from the automotive sector, in order to meet the requirement for lightweight automobiles pertaining to lowering CO2 emissions.
Jan 2017: Plastics additives company Baerlocher GmbH is pushing into the recycling market with its resin stabilization technology. The Munich-based company said Baeropol RST brand is an off-shoot of work the company was doing with major resin makers when employees realized the stabilizer also had applications downstream in the recycling market as well.
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Plastic Stabilizer Market - Competitive Analysis
With the entry of new industry players in the Plastic Stabilizer segment, a trend of solid, volume-driven growth has been observed in the market with the addition of new and advanced products. Companies are aiming to capture & solidify their share of the market segment, by competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.
The prominent players in the Global Plastic Stabilizer Market are BASF SE (Germany), Songwon Industrial Co., Ltd (South Korea), Clariant AG (Switzerland), Akzo Nobel N.V (the Netherlands), Evonik Industries AG (Germany). Some other important market players are ADEKA CORPORATION (Japan), Solvay SA (Belgium), INDOFIL INDUSTRIES LIMITED (India), Bruggemann Group (Germany), and Baerlocher GmbH (Germany), among others.
Plastic Stabilizer Market – Segments
The global plastic stabilizer market is segmented on the basis of type, material, end use industry and region.
On The Basis Of Type: Heat Stabilizer, Antioxidant, Light Stabilizer and Others.
On The Basis Of Application: Thermoplastic, Thermosetting, And Elastomers
On The Basis Of End Use Industry: Packaging, Building & Construction, Automotive, Consumer Goods, Electrical & Electronics, Agriculture and Others.
On The Basis Of Region: Asia Pacific, Europe, North America, Latin America and the Middle East & Africa.
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Plastic Stabilizer Market - Regional Analysis
The Global Plastic Stabilizer Market is spans across five key regions: Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among them, Asia Pacific accounted for the largest share of the market in 2016, and is projected to grow at the highest CAGR of 5.11% during the review period. The dominance of Asia Pacific region is primarily attributed to the increasing demand for the product in manufacturing consumer goods and expanding production capacity in this region. Asia Pacific region is closely followed by North America, which accounted for the second largest market share in 2016. The U.S. accounted for the highest market share in North America and is expected to remain dominant throughout the forecast period owing to greater penetration of end use industries in the country.
Europe is a significant region in the Global Plastic Stabilizer Market. It accounted for a 23% share of the market in 2016. Germany dominates the regional market in terms of value and volume due to increasing demand from a well-established automotive industry. Europe is followed by Latin America and the Middle East & Africa, which are estimated to grow at moderate rate during the forecast period.
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