Polymer stabilizers are used as an additive to manufacture plastic products. They are used directly or in combinations in order to prevent oxidation, chain scission, uncontrolled recombination, and crosslinking reactions. Plastics such as poly vinyl chloride and poly carbonate tend to degrade when exposed to heat, cold and light. Radiations from these sources initiate chemical reactions in plastics that result in the breakdown and loss of chemical and physical properties of plastics. The specially-designed polymer stabilizers protect the polymer during processing and ensure that plastic-based end products retain their physical properties while in use, thereby enhancing their longevity. Polymer stabilizers help in the long-term aging of the product after it has been produced.
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Replacement of conventional materials with plastics in various end-use industries is expected to be a key driver of the polymer stabilizer market during the forecast period. Plastics are effective alternatives to wood, metal, and glass in major industries such as automotive and construction. This has fueled the demand for the usage of stabilizers in polymers in the manufacturing of plastic products. However, high manufacturing cost of the stabilizers is a key restraint of the polymer stabilizer market. The polymer stabilizer market is capital intensive and the cost of labor and raw materials is high. The materials used to manufacture polymer stabilizers are highly volatile and need to meet the quality standards and government regulations. Furthermore, the chemical risk involved during production and recycle of plastics hinders the usage of plastic which, in turn, impedes the growth of polymer stabilizers.
Based on type, the polymer stabilizer market can be classified into heat stabilizer, light stabilizer, and anti-oxidant stabilizer. Among these, heat stabilizer is projected to be the dominant segment in the market during the forecast period, due to the high demand from the plastics industry in order to protect end-use products from extreme heat. Increase in demand for non-degradable, and UV & IR-resistant coating materials from the food & beverage, pharmaceutical, and industrial packaging sectors are driving the market of light stabilizers.
On the basis of end-use, the polymer stabilizer market can be divided into packaging, automotive, construction, and consumer goods. The packaging industry is anticipated to be the dominant and fastest growing market for polymer stabilizer during the forecast period. Growth in population across the world is propelling the ready-to-eat packaged food products market, healthcare, and industrial products, thereby leading to an increase in the demand for packaged goods. Moreover, in the automotive industry, both the internal and external sides of the vehicle, seats, dashboards, roof linings, and fuel systems are exposed to extreme light and temperature. So need of high-performance plastics is necessary as they are exposed to extreme conditions of light and temperatures.
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By geography, the polymer stabilizer market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia-Pacific is expected to be the dominant market for polymer stabilizer during the forecast period, due to the rapidly developing packaging, automotive, and construction industries in the region. Infrastructural developments, rise in standard of living, and increase in construction activities have augmented the usage of pipes and fittings, decking, and roofing, thereby boosting the demand for the polymer stabilizer used in these products. China, Japan, and South Korea being the dominant automotive manufacturers in this region drive the polymer stabilizer market. North America and Europe is anticipated to grow at a moderate rate during the forecast period.
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