Global hindered amine light stabilizers market
DUBLIN, November 23, 2023 (GLOBE NEWSWIRE) — “Hindered Amine Light Stabilizers Market Size, Share and Trends Analysis Report” By Type (Monomers, Oligomers, Polymers), By End-Use (Automotive, Construction, Packaging); Added “Regional, Segment Forecast, 2023 – 2030” report ResearchAndMarkets.com Recruitment.
The global hindered amine light stabilizers market size is expected to reach USD 2.84 billion by 2030 and is expected to grow at a CAGR of 9.3% from 2023 to 2030.
This growth is driven by the increasing consumption of hindered amine light stabilizers (HALS) in paints and coatings and plastics and polymers used in various end-use industries such as automotive, construction, and packaging.
Emerging economies in Asia-Pacific, including India, Vietnam, and Indonesia, are experiencing a surge in the development of construction and infrastructure projects due to rapid urbanization. This is expected to increase the demand for his HALS used in the construction industry in these countries. HALS manufacturers have an opportunity to develop stabilizer formulations with reduced environmental impact.
With the increasing demand for environmentally friendly and sustainable products, these companies are developing HALS using environmentally friendly raw materials to improve recyclability and reduce toxicity risks. For example, BASF SE has developed sustainable and VOC-free TINUVIN and LIGNOSTAB. In certain applications, combining UV absorbers with his HALS creates a synergistic effect that improves the photostability of plastic products.
In addition, UV absorbers and other additives used in HALS also play an important role in ensuring the overall photostability of plastic products by protecting them from degradation due to light exposure.Geographically, Asia Pacific is expected to witness the fastest CAGR of 9.8% during the forecast period due to increasing demand from various end-use industries in the region
Hindered Amine Light Stabilizers Market Report Highlights
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Polymer type segment is projected to grow at the highest growth rate of 9.7% from 2023 to 2030 due to increasing usage due to superior stabilization efficiency and improved durability against UV radiation.
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Polymer HALS are widely used in industries such as automotive, aerospace, construction, packaging, and agriculture to prevent photodegradation of polymers and plastics due to exposure to ultraviolet light.
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The construction end-use segment dominated the market with a revenue share of over 36.1% in 2022 due to the growing demand for high-performance materials that can withstand harsh outdoor conditions.
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The global industry is highly competitive with the presence of various established players occupying significant market shares.
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These companies have multiple channels for the production and global distribution of finished products.
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The increasing demand for HALS from various end-use industries has led market players to expand their global footprint and expand their product range to meet the requirements of various applications.
Key attributes:
report attributes |
detail |
number of pages |
124 |
Forecast period |
2022-2030 |
Estimated market value in 2022 (USD) |
$1.4 billion |
Projected market value to 2030 (USD) |
$2.84 billion |
compound annual growth rate |
9.3% |
Target area |
global |
Market trend
Analysis of market drivers
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Growing global automobile industry
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Growing demand for paints and coatings from multiple end-use industries
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Increasing global demand for plastics and polymers
Market restraint analysis
industry analysis tools
competitive environment
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ADEKA Co., Ltd.
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Arkema
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BASF SE
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clariant
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Kaitech Technology Co., Ltd.
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Double Bond Chemical Industry Co., Ltd.
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Everlight Chemical Industry Co., Ltd.
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Green Chemicals Srl
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Meizo Co., Ltd.
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MPI Chemie BV
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Lianlong Co., Ltd.
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Sabospa
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Solvay
For more information on this report, please visit https://www.researchandmarkets.com/r/3lxm4t.
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