BASF SE (Germany), Clariant AG (Switzerland), Evonik Industries AG (Germany), Solvay SA (Belgium), Bruggemann Group (Germany), Akzo Nobel N.V (the Netherlands), Songwon Industrial Co., Ltd. (South Korea), Baerlocher GmbH (Germany), ADEKA CORPORATION (Japan) and INDOFIL INDUSTRIES LIMITED (India) are some of the leading companies operating in the Global Plastic Stabilizer Market Analysis.
Global Plastic Stabilizer Market: Regional Segmentation
The Plastic Stabilizer Market has been covered across regions such as the Middle East & Africa, Latin America, North America, Asia Pacific (APAC) and Europe. Asia Pacific continues to be the bright spot for the Global Plastic Stabilizer Market. There are several factors that are supporting the market growth in the region. Asia is home to two of the fastest growing economies in the world (China and India). Rapid industrialization and urbanization in these countries has reflected favourably on the market in the region. Moreover, rapid growth of the packaging industry is creating new growth avenues for market players. The APAC plastic stabilizer market is characterised by a large number of domestic vendors and mid and large-sized companies. In APAC, the market is led by China and the trend is likely to continue throughout the assessment period. It is projected that the APAC Plastic Stabilizer Market is set to post 5.11% CAGR during the forecast period.
North America is the second largest market for Plastic Stabilizer. The U.S. leads the market in the region. A healthy presence of several end-use industries makes North America an attractive business destination for market players. Europe occupies the third spot with an approx. market share of 23%.
The Segmental Analysis of the Global Plastic Stabilizer Market is conducted on the basis of Type, Material, End-Use Industry, Application and Region.
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On the basis of Type, the market has been segmented into light stabilizer, antioxidant, heat stabilizer, and others. In 2016, the heat stabilizer segment held the largest market share. Heat stabilizers are increasingly installed in various manufacturing facilities as well as in construction sites. The antioxidant segment is also expected to witness an impressive growth during the projection period. Antioxidant Plastic Stabilizers find tremendous application in the packaging industry.
On the basis of Material, the market has been segmented into elastomers, thermosetting and thermoplastic. The thermoplastic segment currently accounts for the leading market share. Demand for thermoplastics is expected to remain high over the next several years. Automotive, building & construction, packaging and consumer goods industries are among the key revenue hotspots for thermoplastic based Plastic Stabilizers.
Based on End-Use Industry, the market has been segmented into building & construction, consumer goods, agriculture, packaging, electrical & electronics, automotive, and others. Of these, the packaging segment holds the brightest prospects. By the year 2023, the packaging segment is expected to surpass a valuation of USD 3,200 Mn. This is because Plastic Stabilizers play an important role in manufacturing of film packaging. The consumer segment has captured the second spot and is expected to remain high attractive during the assessment period.
On the basis of Application, the market has been segmented into elastomers, thermosetting, and thermoplastic.
Market Research Future (MRFR) reports that the Global Plastic Stabilizer Market will touch a valuation of USD 8,500 Mn by the year 2023. To arrive at this figure, the market is projected to expand at a compound annual growth rate (CAGR) of 4.49% from 2017 to 2023. Plastic Stabilizers for their salient features such as UV rays resistance, oxidation resistance, and temperature resistance are considered for miscellaneous industrial application.
Plastic Stabilizers enhances the weatherability of substrate and improve the viscosity of materials that facilitate product fabrication and processing. Plastic Stabilizer is extremely popular in processing of pipes, toys, window profile, cable ducts, automotive component, packaging films, among others.
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