July 19, 2024
Polymer Stabilizers Market

Projected Rise In Construction Activities To Boost The Growth Of Polymer Stabilizers Market

The global Polymer Stabilizers Market is estimated to be valued at US$ 8.91 Bn in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Polymer stabilizers are chemical additives that are added to polymers and polymer products during their manufacturing process. They help to improve the mechanical properties and thermal stability of polymers by protecting them against degradation caused by heat, oxidation, light and other factors. Stabilizers also extend the lifetime and durability of polymers. Common polymer stabilizers include antioxidants, light stabilizers and heat stabilizers. They find wide applications in industries such as packaging, building & construction, automotive and consumer goods. Rising demand from these end-use industries is expected to drive the global polymer stabilizers market during the forecast period.

Market key trends:
One of the key trends in the polymer stabilizers market is the shift towards phosphite and hindered amine light stabilizers (HALS). Conventional UV absorbers require high loading levels for effective light stabilization. However, phosphite and HALS provide equivalent or better light stability at lower loading levels. They have low color, are less volatile and have better compatibility with polymers. As a result, many polymer manufacturers are replacing UV absorbers with phosphite and HALS to obtain cost benefits without compromising on quality and performance. This growing replacement of conventional UV absorbers with phosphite and HALS is expected to propel the demand for polymer stabilizers.
Porter’s Analysis

Threat of new entrants: The threat of new entrants in the polymer stabilizers market is moderate. High capital investments required and stringent certifications needed to enter this market pose as entry barriers. Additionally, established players enjoy economies of scale which new entrants may find difficult to attain.

Bargaining power of buyers: The bargaining power of buyers in the polymer stabilizers market is moderate. Buyers have moderate to high bargaining power due to the availability of substitutes. However, stringent regulations related to product quality limit alternatives.

Bargaining power of suppliers: The bargaining power of suppliers is moderate. Commodity nature of raw materials limits supplier power. However, suppliers operating at a global scale have some control over pricing.

Threat of new substitutes: The threat of new substitutes is low to moderate. While organic stabilizers are substitutable, inorganic and mixed-metal stabilizers have limited substitutes. Developing novel stabilizers pose high entry barriers.

Competitive rivalry: Competition in the polymer stabilizers market is high due to the presence of numerous global and regional players. Capacity expansions and new product launches intensify competition.

Key Takeaways

The global Polymer Stabilizers Market Share is expected to witness high growth, exhibiting CAGR of 7.7% over the forecast period, due to increasing demand from the construction industry.

Asia Pacific dominates the global polymer stabilizers market and is expected to grow at the fastest rate during the forecast period. Abundant raw material availability and strong growth in end-use industries such as packaging, construction, and automotive drive the market in the region. China and India account for around half of the global demand.

Key players operating in the 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. These players are focusing on capacity expansions and new product launches to strengthen their market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it