Market Research Future published a Cooked Research Report on “Global Plastic Stabilizer Market Research Report” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023
Plastic Stabilizers are additives used during the production of plastic components to reduce the loss of optical and mechanical properties significantly. These stabilizers can increase the service life of the product in multitudes while reducing the consumption of resources caused by the aging of the product. Due to the increased production of plastic materials, Plastic Stabilizers invariably witness a vast market demand, and hence, its market garners massive traction on a global platform.
A renowned research firm – Market Research Future (MRFR) asserts that the Global Plastic Stabilizers Market is projected to reach USD 8,577.1 MN by 2023, registering around 4.49% CAGR throughout the assessment period (2017-2023). The endlessly growing plastic industry is expected to create huge market demand due to the large inclusions of plastic products in people’s lives. Additionally, augmented demand from the burgeoning packaging industry acts as a significant tailwind pushing the market growth further.
Moreover, a range of advantages that these Plastic Stabilizers offer to plastic products such as increased durability push up the market demand colossally. Wide absorption of these stabilizers in some of the major end-user industries such as manufacturing of plastic decking, automotive components, packaging, window profiles, pipes, cable ducts, toys, films, etc. foster the market demand.
Stabilizers being an essential substrate of plastic manufacturing, growth in the plastic industry define the growing market landscape. Additional actors that support market growth include growing population, urbanization, and industrialization across the globe. The ever-increasing consumer electronics market also provides an impetus to the market growth to an extent. Increasing investments transpired into the R&D activities to bring novelties into stabilizers in terms of bettering the product and in associated technology is fostering the market growth.
Global Plastic Stabilizer Market – Competitive Analysis
Highly competitive, the Plastic Stabilizer Market appears to be fragmented, with several players forming a competitive landscape. To gain a substantially sizeable competitive advantage, these players incorporate strategic initiatives such as collaboration, mergers & acquisitions, expansion, and technology launch.
Players active in the Global Plastic Stabilizer Market are Songwon Industrial Co., Ltd (South Korea), Clariant AG (Switzerland), BASF SE (Germany),Evonik Industries AG (Germany), Solvay SA (Belgium), Akzo Nobel N.V (the Netherlands), Adeka Corporation (Japan), Baerlocher GmbH (Germany), Indofil Industries Limited (India), and Bruggemann Group (Germany), among others.
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Industry/Innovation/ Related News:
October 16, 2019 —- Clariant AG (Switzerland), a specialty chemicals company, showcased its advanced additive technology at K 2019. Clariant additives promote the recyclability of plastic waste without compromising the valuable properties of the material. The newly developed AddWorks PKG 906 Circle for polyolefin film enables plastic packaging producers to garner some of their critical business goals. Clariant is shining the spotlight with its capable additives that can make it easier to recycle post-production and post-consumer plastic waste while retaining the material’s performance properties.
Global Plastic Stabilizer Market – Segments
For the scope of understanding, the report is segmented into four market dynamics
By Type: Antioxidant, Heat Stabilizer, Light Stabilizer, and others.
By Application Material: Thermosetting, Thermoplastic, Elastomers, and others.
By End-use Industries: Electrical & Electronics, Automotive & Transportation, Packaging, Consumer Goods, and others.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Global Plastic Stabilizer Market – Geographical Analysis
Asia Pacific is the largest market for Plastic Stabilizers, globally. The significant share of the region attributes to the augmenting product demand from consumer goods led by the rising population and urbanization. Besides, the rapid industrialization in the region is creating huge market demand. APAC accounts for the largest producer and consumer of Plastic Stabilizer.
Also, the region attracts foreign investors with its raw material advantage and cost-competitive workforce. Resultantly, many major players having global presence are rapidly shifting their production bases to the region, which drives the regional market growth further. Continuing with such growth trends, the region is expected to continue its dominance throughout the forecast period, registering 5.11% CAGR.
North America accounts for the second leading market for plastic stabilizers worldwide. Factors fostering the growth of the market include massive consumption of the product across industries such as automotive & transportation, electrical & electronics, packaging, consumer goods, and others. In 2016, the plastic stabilizer market in the US held the largest share in the region.
Europe is another significantly growing market for Plastic Stabilizers, which had accounted for about 23% share in 2016. This significant share of the region attributes to augmenting demand from the burgeoning end-use industries in the region, including automotive & transportation, electrical & electronics, packaging, and consumer goods, among others. Germany, among other European countries, holds the largest share in the regional market owing to the enormous market demand generated by the matured automotive industry in the region.
Browse Key Industry Insights spread across 123 pages with 222 market data tables & 18 figures & charts from the report, “Plastic Stabilizer Market Information: By Type (Heat Stabilizer, Antioxidant, Light Stabilizer, and Others), Material (Thermoplastic, Thermosetting, and Elastomers), and by End Use Industry (Packaging, Building & Construction, Automotive, Consumer Goods, Electrical & Electronics, Agriculture, and Others), and Region – Growth Potential, Price Trends, Competitive Market Share & Forecast 2023” in detail along with the table of contents: https://www.marketresearchfuture.com/reports/plastic-stabilizer-market-4442
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