Plastic Stabilizer Market worth USD 8,577.1 million by 2023 | Top Worldwide Vendors Analysis | BASF SE, Solvay SA, Bruggemann Group, Adeka Corporation

Market Synopsis:

The Plastic Stabilizer is estimated to be valued at USD 8,577.1 million by the end of 2023 and expected to grow at a CAGR of 4.49% during the review period. The major factors favoring growth of the market are the surging demand of plastic in automotive industry to replace conventional material, huge consumption of plastics in day to day life, and rising demand of plastics in Asia Pacific. Application of phenolic antioxidant in packaging industry accounted for the largest market share. It has been projected to grow at the highest CAGR on account of the increasing demand of the product for packaging of food and other retail products. Consumer goods industry is the second major consumer of plastic stabilizer accounted for second largest share of the market in 2016.

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.

Industry News:

In, 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.

In, 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.

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Regional Analysis:
Geographically, the global Plastic Stabilizer is segmented into-

• North America,
• Latin America,
• Asia Pacific,
• Europe,
• Middle East & Africa

Among these, 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.

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.

Top Key Global Vendors:

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)

Market Categorization:

The Global Plastic Stabilizer Market is categorized by type, application, end use industry and region.

By Application-

• Thermoplastic,
• Thermosetting,
• Elastomers

By Type-

• Heat Stabilizer,
• Antioxidant,
• Light Stabilizer

By End-Use Industry-

• Packaging,
• Building & Construction,
• Automotive,
• Consumer Goods,
• Electrical & Electronics,
• Agriculture

By Geographically-

• Asia Pacific,
• Europe,
• North America,
• Latin America,
• the Middle East & Africa

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