Market Overview:
Plastic stabilizers are chemical additives that are used to protect the carrier material from thermal degradation, UV-damage, oxidation and others. Market Research Future (MRFR) has published a report stating that the The Plastic Stabilizer Market Size in the global market is expected to grow at a high CAGR of 4.5% to reach a market value that will account for USD 8,577.1 million by the end of the forecasted period.
Market Drivers and Restraints:
Increasing demand for packaging materials that do not get degraded due to factors such as direct or indirect exposure to sunlight, heat, UV radiations, microorganisms and others is majorly fueling the growth of the global Plastic Stabilizer Market Size. Rapid expansion of industries such as pharmaceutical, cosmetics, personal care, food and beverages and others is inducing high demand for plastic stabilizers, leading to the expansion of the global Plastic Stabilizer Market Size. However, stringent regulatory framework imposed by the government on the production of plastic materials and stabilizers is likely to act as a restraining factor to the expansion of the global Plastic Stabilizer Market Size during the forecast period.
Market Segmentation:
The global Plastic Stabilizer Market Size has been segmented on the basis of type, material and end use. Based on type, the Plastic Stabilizer Market Size has been segmented into heat stabilizer, antioxidant, light stabilizer, and others. The heat stabilizer segment commanded for the major share in the global Plastic Stabilizer Market Size during the year 2016 owing to its increased utilization in various end-use industries. Based on material, the global Plastic Stabilizer Market Size has been segmented into thermoplastic, thermosetting, and elastomers. Among these, the thermoplastic segment commanded for the major share of 77.07% in the global Plastic Stabilizer Market Size. Based on end-use industry, the global Plastic Stabilizer Market Size has been segmented into packaging, building & construction, consumer goods, electrical & electronics, automotive, agriculture, and others. Among these, the packaging industry segment is dominating the global Plastic Stabilizer Market Size.
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Regional Analysis:
Geographically, the global Plastic Stabilizer Market Size has been segmented into five major regions such as North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. The Asia Pacific region commanded for the largest market share in the global Plastic Stabilizer Market Size in the year 2016 and is forecasted to expand at the notable CAGR of 5.11% during the assessment period. Rise in demand for plastic stabilizers in rapidly expanding manufacturing and packaging industries are majorly contributing to the growth of the Plastic Stabilizer Market Size in the Asia Pacific region. The North America region commanded for the second largest share in the global plastic stabilizers market during the year 2016 owing to the presence of large number of end-use industries in this region. Increased research and development for introducing high-quality Plastic Stabilizer equipment in the global market are aiding the growth of the Plastic Stabilizer Market Size in the Europe region. It commanded for 23% share of the global Plastic Stabilizer Market Size in the year 2016. Whereas, the Middle East and Africa region is projecting moderate growth in the global Plastic Stabilizer Market Size during the assessment period.
Key Players:
The major players profiled by MRFR that are operating in the global Plastic Stabilizer Market Size are Songwon Industrial Co., Ltd (South Korea), BASF SE (Germany), ADEKA CORPORATION (Japan), Clariant AG (Switzerland), Evonik Industries AG (Germany), Akzo Nobel N.V (the Netherlands), Solvay SA (Belgium), INDOFIL INDUSTRIES LIMITED (India), Bruggemann Group (Germany), Baerlocher GmbH (Germany), and others. The players in the global Plastic Stabilizer Market Size are aiming towards business expansion by increasing their investments on research and development and planning strategic mergers and acquisitions to sustain the competition in the global Plastic Stabilizer Market Size.
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