Hindered Amine Light Stabilizers Market is projected to expand 5% CAGR by 2027

Key Highlights of Hindered Amine Light Stabilizers Market

• The global hindered amine light stabilizers market was valued at US$ 818.26 Mn in 2018 and is anticipated to expand at a CAGR of approximately ~5% during the forecast period

• Hindered amine light stabilizers are widely used in plastics, paints, coatings, adhesives, and sealants, as they prevent cracking and chalking of paints. When combined, UV absorbers and hindered amine light stabilizers offer synergistic effects and simplicity of formulation. Hindered amine light stabilizers protect resins in adhesives and sealants, such as epoxy, polyurethane, and PVC, from the loss of mechanical performance caused by degradation due to light, thereby enhancing durability.

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Key Drivers of Hindered Amine Light Stabilizers Market

• Paints and coatings are widely employed for decorative purposes. When used for decorative purposes, they improve durability and appearance of the surface. They protect surfaces from environmental conditions, weathering, rust, and chemicals. Hindered amine light stabilizers trap free radicals to maintain surface properties such as gloss and prevent cracking and chalking of paints.

• In order to prevent degradation of paints and coatings, yellowing, and chalking caused by UV light, UV absorbers are used along with hindered amine light stabilizers (HALSs) to effectively maintain paint gloss and enhance weather resistance

• The global paints & coatings market is primarily driven by advancements in the building & construction industry. Rise in the number of commercial buildings across the globe is anticipated to propel the global industry for paint & coatings in the near future. These coatings are primarily used in decoration items such as wood flooring, wall painting, furniture, and sculptures. The global paint & coatings industry is estimated to expand significantly, owing to reconstruction and renovations activities in the construction sector. Thus, growth of the global paints & coatings industry is likely to propel the global HALS market during the forecast period.

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Plastics to Offer Lucrative Opportunities to Hindered Amine Light Stabilizers Market

• Among applications, plastics was the most rapidly expanding segment of the global hindered amine light stabilizers market in 2018. The segment is expected to maintain its attractiveness throughout the forecast period, due to wide compatibility of plastics when used in the packaging of food and beverage products.

• Polymeric hindered amine light stabilizers are used to protect a wide range of substrates from UV radiations. These are primarily used to protect the core of materials such as paints, coatings, and adhesives. They are also excellent light stabilizers for systems containing carbon black. They are available in forms such as free-flowing beads and powder. Polymeric hindered amine light stabilizers exhibit higher thermal stability and better extraction resistance.

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Asia Pacific Dominates Hindered Amine Light Stabilizers Market

• Among regions, Asia Pacific accounted for a prominent share of the global hindered amine light stabilizers market in 2018. The region is expected to remain a highly lucrative market during the forecast period, owing to growth of the automotive industry in the region.

• Asia Pacific, along with mature markets such as North America and Western Europe, offers lucrative opportunities to the industrial coatings sector. Asia Pacific is a rapidly growing market for hindered amine light stabilizers. A majority of large manufacturers have established their facilities in the region.

• Presence of some of the most rapidly expanding economies, such as China, India, and South Korea, and rising demand for industrial coatings in the automotive industry play a vital role in driving the demand for industrial coatings in Asia Pacific. This, in turn, is boosting the hindered amine light stabilizers market in the region.

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Top Three Players Account for a Key Share of Hindered Amine Light Stabilizers Market

• The global hindered amine light market is fragmented. The top three players i.e. The Clariant AG, BASF SE, and Adeka Corporation cumulatively accounted for more than 20% share of the global market in 2018.

• BASF SE is one of the leading manufacturers of hindered amine light stabilizers. The company constituted 9.5% share of the global hindered amine light stabilizers market in 2018. The company produces solid and liquid HALS for use in the paints & coatings industry. The company is forward integrated, as it manufactures HALS as well as paints and coatings.

• Clariant AG accounted for 7.1% share of the global hindered amine light stabilizers market in 2018. Market share of the company can be attributed to its continuous focus on innovations, implementation of growth strategies, and extensive research and development activities.

• Other companies include a large number of local manufacturers in India and China, which produce hindered amine light stabilizers in smaller volumes and cater to domestic markets. These are part of the unorganized sector in these countries.

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