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Hindered Amine Light Stabilizers (HALS) Industry to See Robust Expansion, Valued at $2.84 Billion by 2029
Hindered Amine Light Stabilizers (HALS)
What Is the Projected CAGR for the Hindered Amine Light Stabilizers (HALS) Market from 2024 to 2025?
The market for Hindered Amine Light Stabilizers (HALS) has seen a swift expansion recently. It is projected to rise from $1.43 billion in 2024 to $1.63 billion in 2025, experiencing a Compound Annual Growth Rate (CAGR) of 14.2%. This significant growth during the historic period is due to several factors including the need for UV radiation protection, enhanced polymer stabilization, the burgeoning automotive industry, a surge in demand for coatings and paints, and an increase in plastic packaging.
What are the Expected Market Size and CAGR for Hindered Amine Light Stabilizers (HALS) by 2029?
The market for Hindered Amine Light Stabilizers (HALS) is projected to witness significant expansion in the coming years, with the market size predicted to reach $2.84 billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 14.9%. The surge during the forecast period is associated with the growing consumption of eco-friendly and sustainable materials, the increasing demand in the packaging sector, adherence to regulations, a rise in automotive electrification, as well as heightened demand in the aerospace and defense sectors. Main trends anticipated in the forecast period encompass UV protection in polymers, enhanced weather resistance, the incorporation of nanotechnology, and blends of antioxidants, along with an evolving HALS chemistry.
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Which Factors Are Driving the Global Hindered Amine Light Stabilizers (HALS) Market Expansion?
The construction sector's expansion is expected to spur the need for Hindered Amine Light Stabilizers (HALS) in the upcoming years. The construction domain is vast, encompassing various areas from mining, quarrying, and forestry to infrastructure and building construction, product production and supply, and even repair, service, and disposal. Plastics incorporating light stabilizers and UV absorbers are equipped to withstand light and heat in challenging construction environments, helping experts navigate market challenges. For instance, according to the European Union's Luxembourg-based statistical office, Eurostat, in December 2023, the EU's Research and development (R&D) spending escalated to €352 billion ($384.42 billion) in 2022 - a 6.34% increase from €331 billion ($361.48) of the previous year. Therefore, the increasing demand from the construction sector fuels the growth of the Hindered Amine Light Stabilizers (HALS) market.
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Which Segment Currently Holds the Largest Share of the Hindered Amine Light Stabilizers (HALS) Market?
The hindered amine light stabilizers (hals) market covered in this report is segmented -
1) By Type: Polymeric, Monomeric, Oligomeric
2) By Application: Plastics, Paints and Coatings, Adhesives and Sealants, Other Applications
3) By End Use Industry: Packaging, Automotive, Agriculture Films, Construction, Other End User Industries
Subsegments:
1) By Polymeric: Long-Chain Polymeric HALS, Multi-Functional Polymeric HALS
2) By Monomeric: Low Molecular Weight Monomeric HALS, High Molecular Weight Monomeric HALS
3) By Oligomeric: Short-Chain Oligomeric HALS, Medium-Chain Oligomeric HALS
Which Major Trends Are Shaping the Future of the Hindered Amine Light Stabilizers (HALS) Industry?
The key trend shaping the Hindered Amine Light Stabilizers (HALS) market is the enlargement of production facilities. To meet the growing demands from emergent markets, main stakeholders in the Hindered Amine Light Stabilizers (HALS) field are prioritizing the growth of their production infrastructure. For example, in March 2022, BASF, a chemical firm based in Germany, has plans to escalate its HALS production capacity at its establishments in Pontecchio Marconi, Italy, and Lampertheim, Germany. This step is a part of a multi-phase investment strategy devised to meet the escalating need for light stabilizers in long-lasting plastic applications. Moreover, this investment seeks to fortify supply security for clients across the globe.
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Which Key Players Dominate the Hindered Amine Light Stabilizers (HALS) Industry Globally?
Major companies operating in the hindered amine light stabilizers (HALS) market include ADEKA Corporation, Beijing Tiangang Auxiliary Co., Chitec Technology Co. Ltd., Clariant AG, Double Bond Chemical Ind. Co. Ltd., Everlight Chemical Industrial Corp., Everspring Chemical Co. Ltd., Lambson Limited, Rianlon Corporation, SABO S.p.A, Solvay SA, SUNSHOW Corp., Tokyo Chemical Industry Co. Ltd., UNIQCHEM GmbH, BASF SE, Arkema Group, Lycus Ltd., Mayzo Inc., Songwon Industrial Co. Ltd., TinToll Ltd., Valtris Specialty Chemicals, Wellspring Chemical Corporation, Adeka Palmarole SAS, AkzoNobel N.V., Ampacet Corporation, Baerlocher GmbH, Dover Chemical Corporation, Emery Oleochemicals, Evonik Industries AG, Galata Chemicals LLC, IGM Resins
What Are the Fastest-Growing Regions in the Hindered Amine Light Stabilizers (HALS) Market?
Asia-Pacific was the leading region in the market for hindered amine light stabilizers (HALS) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hindered amine light stabilizers (HALS) market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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