Polymer stabilizers are organic and inorganic compounds added to plastics to improve properties such as protection against UV degradation, oxidation, and heat degradation. Common polymer stabilizers include antioxidants, heat stabilizers, and light stabilizers. Polymer stabilizers are widely used in plastics such as PVC, polyethylene, polypropylene, and polystyrene. With the growing demand for plastics and plastic products across various end use industries such as packaging, automotive, building & construction, plastics are seeing an increasing use of polymer stabilizers to enhance their properties and durability.
The Polymer Stabilizers market is estimated to be valued at US$ 8.91 Bn in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the polymer stabilizers market is the rising demand for plastic products from the Asia Pacific region. Asia Pacific region accounts for over half of the global demand for plastics, led by China, India, Japan, and other developing economies. The demand is driven by a growing manufacturing sector and infrastructure development activities in the region. Another major trend is the increasing R&D towards development of bio-based and eco-friendly polymer stabilizers. With stringent regulation around use of toxic stabilizers, key players are focusing on novel product development using renewable raw materials.
Threat of new entrants: The threat of new entrants is moderate as new companies will require huge capital investment to penetrate the established market. Moreover, the existing players have strong brand recognition and economies of scale which creates entry barriers.
Bargaining power of buyers: The bargaining power of buyers is moderate to high as polymer stabilizers market is fragmented with presence of numerous global and regional players. Buyers can negotiate on price with suppliers.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw material suppliers dominate the market. However, easy availability of raw materials limits their bargaining power.
Threat of new substitutes: Threat of substitutes is moderate as there are limited product substitution for polymer stabilizers. However, ongoing research in material science can lead to new substitutes.
Competitive rivalry: The polymer stabilizers market is marked by high competitive rivalry due to presence of numerous global and regional market players.
The Global Polymer Stabilizers Market Size is expected to witness high growth, exhibiting CAGR of 7.7% over the forecast period, due to increasing demand from construction and packaging industries. The market size for 2023 is US$ 8.91 Bn.
The Asia Pacific region dominated the global polymer stabilizers market in 2022. Rapid industrialization and growth of construction and packaging industries in China and India are fueling the demand. Moreover, presence of emerging economies, favorable government policies and increasing foreign investment are contributing to the regional market growth.
Key players operating in the polymer stabilizers market are Adeka Corporation, BASF SE, Chitec Technology Co. Ltd, Clariant, Evonik Industries AG, PMC Group, Polyvel Inc., SABO SpA, SK Capital Partners, Solvay, and Songwon. The market is dominated by leading global players like BASF SE and Songwon, who have wider geographic presence and extensive product portfolio.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it