Plastic Stabilizer Market – Overview
Increasing demand from end-use industries such as packaging, building & construction and automotive is anticipated to drive Global Plastic Stabilizer Market growth over the forecast period. The rise of middle class population in developing region of Asia Pacific and Latin America such as China, India, Brazil, and Mexico is driving the growth of manufacturing sector along with increasing purchasing power. In addition, migration towards urban areas, relative increase in per capita consumption and liberal FDI norms have worked together towards the growth of Plastic Stabilizer consumption over the last decade and is set to continue over the forecast period.
Plastic Stabilizer are added to various plastics in order to enrich their properties. They are helpful in providing protection from obstructions such as high temperature, UV rays, oxidation, and chain scission properties. The usefulness of the stabilizers against weathering is determined by the solubility, capability to stabilize in various polymer matrix, the dispersal in matrix, evaporation loss at the time of processing and usage.
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Heat Stabilizers emerged as the leading type segment due to its extensive usage across varied end-use industries in order to prevent polymers from excessive heat. Antioxidant is the second major type of plastic stabilizer, projected to grow at the highest CAGR due to increasing demand from packaging industry, especially food packaging. Geographically, Asia Pacific emerged as the largest regional market for plastic stabilizer followed by North America and Europe. The region accounted for over 40% of the overall market share in 2016 and is set to continue its dominance over the forecast period. Rising construction spending coupled with growth in automotive production and sales is anticipated to bolster the Plastic Stabilizers consumption in the Asia Pacific region. Countries such as China, India, Thailand, Malaysia, Indonesia and South Korea are witnessing prolific growth of packaging and manufacturing sector due to strong economic performance coupled with untapped potential in various regions.
Industry/ Innovation/ Related News:
July 2017- BASF introduced Tinuvin XT 55, its latest generation of HALS for the film, fibers and tapes industry. Tinuvin XT 55 is a high-performance light stabilizer that has a very low contribution to water carryover enabling the production line to run without disruptions.
March 2017– BASF invested in new plastic additives plant in Shanghai, China. BASF has invested more than €200 million globally to increase its production network for plastic additives.
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June 2017- BASF SE announced that the company started operation of engineering plastic at its expanded compounding plant in Germany. This expansion will help company to produce 70,000 tons more Ultramid (PA:polyamide) and Ultradur (PBT:polybutylene terephthalate) every year. This additional capacity increased the flexibility in the worldwide production network of BASF.
October 2016 – Baerlocher introduced Baeropol RST and Baeropol T-Blends for stabilizing recycled plastic materials with the advantages of the key performance properties to provide economical, high-performance stabilization for the technically demanding and price-sensitive reprocessing markets. Baerlocher successfully expanded its capacity to support calcium-based stabilizers in China in order to replace the lead-based stabilizers, which is expected to gain momentum in coming years.
September 2015- SONGWON has launched a semi bead under its SONGNOX PQ range, which makes dosing and handling in the plant easier for customers due to its dust free form. SONGWON has lauched a semi bead under its SONGNOX PQ range, which makes dosing and handling in the plant easier for customers due to its dust free form.
Significant shift of manufacturing centers towards developing regions such as Asia Pacific and Latin America driven by lucrative FDI policies, cheap labor, and wide raw material availability is set to positively influence global plastics stabilizer market. Polymer production in Asia Pacific is touching new heights with extensive demand being experienced from end-use industries such as automotive, construction, electrical & electronics and packaging among others. Companies such as BASF and Songwon are taking up strategies such as expansion and new product launches in order to capture market share and fulfil the burgeoning demand in developed countries. Emerging demand for lightweight plastics in automotive and electronics industry is slated to further uplift demand for polymer stabilizer and motivate industry participants to innovate and adapt to precise application requirements.
BASF SE (Germany), Songwon Industrial Co., Ltd (South Korea), Clariant AG (Switzerland), AkzoNobel N.V (the Netherlands), Evonik Industries AG (Germany), Adeka Corporation (Japan), Solvay SA (Belgium), INDOFIL INDUSTRIES LIMITED (India), Bruggemann Group (Germany), and Baerlocher GmbH (Germany), among others are some of the prominent players at the forefront of competition in the Global Plastic Stabilizer Market and are profiled in MRFR Analysis.
The Global Plastic Stabilizer Market is spanned 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.
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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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