New York, US, July 12, 2021 (GLOBE NEWSWIRE) -- Heat Stabilizers Market Overview
According to a comprehensive research report by Market Research Future (MRFR), "Heat Stabilizers Market Information by Form, Type, Application, and Region - Forecast till 2027” the market is slated to grow at a CAGR of 4.4% from 2020-2027.
Key Growth Drivers:
Heat stabilizers can be described as chemical additives that offer protection to polymers and plastics, especially those comprising homopolymers, against degradation and oxidation due to excess heat or UV radiation. Heat stabilizers find a wide range of applications in medical-grade PVC to inhibit oxidation owing to high temperatures that the resin could experience during processing and manufacturing. These additives also help safeguard against extreme heat the resins might be subjected to during autoclaving or storage.
The heat stabilizers industry has been expanding rapidly worldwide, thanks to the soaring demand for plastics, particularly PVC/poly vinyl chloride. PVC has numerous applications, including wires, flooring, films, sheets, cables, pipe, tubes, to name a few. PVC and several other plastics like LDPE and HDPE are witnessing surge in demand across the globe, which would lead to significant growth for the heat stabilizers market in the coming years. Heat stabilizers play an imperative role in the manufacturing of PVC extruded, rolled and molded products, since PVC resins are subjected to irreversible physical as well as chemical changes brought on by extreme stress and temperature.
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Competitive Landscape
The top contenders in the worldwide industry include
- Galata Chemicals (U.S.)
- Clariant International AG (Switzerland)
- Oyak Group (Turkey)
- SONGWON (South Korea)
- BASF SE (Germany)
- PMC Group, Inc. (U.S.)
- Adeka Corporation (Japan)
- Asúa Products, S.A. (Spain)
- Baerlocher GmbH (Germany)
- Reagens S.P.A. (Italy)
- Vikas Ecotech Ltd. (India)
- Ika Innovative Kunststoffaufbereitung GmbH & Co. Kg (Germany)
- Valtris Specialty Chemicals (U.S.)
- Kisuma Chemicals (Netherlands)
- BRUNO BOCK Chemische Fabrik GmbH & Co. KG (Germany)
These firms are striving to bolster their geographical reach while also focusing on introducing newer, and more advanced products via numerous strategies, such as product launches, partnerships, and collaborations. For instance, in April 2021, Clariant (Switzerland) opened a world-class manufacturing unit for light and process stabilizers. The new facility is also owned by Beijing Tiangang Auxiliary Co. Ltd. (Tiangang), which is a private firm with specialization in production of light stabilizers across China.
Market Restraints:
Rigid regulations pertaining to the use of toxic materials such as lead, and cadmium can slow down the growth rate of the heat stabilizers industry to some extent. The use of toxic elements like lead, cadmium and butyltin, can harm not only humans but environment as well.
Browse In-depth Market Research Report (100 Pages) on Heat Stabilizers: https://www.marketresearchfuture.com/reports/heat-stabilizers-market-6129
COVID 19 Analysis of Heat Stabilizers Market
There is no doubt that the COVID-19 outbreak has wreaked havoc on several industries, burdening them with financial challenges. However, heat stabilizers are witnessing steady applications wires & cables, in pipes & fittings, coatings & floorings, profiles & tubing, despite the lockdown.
Market Segmentation
The types of heat stabilizers are light stabilizers, cell reinforcement, heat stabilizers, and more. Heat stabilizers represents the biggest segment in the market as these are increasingly being used in designing materials that have a host of mechanical uses in the building and construction industry. However, the fastest growth will be depicted by the cell reinforcement segment in the years ahead.
With respect to materials, the major segments are thermosetting, elastomers, and thermoplastic. The lead has been taken by the thermoplastic materials with the highest share of 77.70% in the global industry. The demand for this material is extensive in numerous industries including building and construction, consumer goods, and automotive.
Top end-users of heat stabilizers are building and development, bundling, purchaser merchandise, auto, farming, electrical and gadgets, and more.
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Regional Status
The market size for heat stabilizers in Asia Pacific has ballooned up exponentially, turning out to be the biggest out of all the regions. Apart from this, the APAC market growth is in full swing and can soon capture the fastest CAGR during the analysis timeframe, thanks to the fast-paced industrialization across China and India. Surging disposable income, increasing purchasing capacity of the consumers and the exploding population also add to the demand for a variety of consumer goods that require heat stabilizers. China is a prime spot for polymer manufacturers, with the country increasingly witnessing an escalation in the demand for plastic products from different industries.
North America is one of the top consumers for Organotin, given that the government legislations allow their applications in potable water pipes as well as fittings. Organotin has been granted the approvals and certifications for food contact use-cases, which has given a significant boost to the heat stabilizers market in the region. The United States is the world's leading market for organotin stabilisers, with major applications found to be in automotive, agriculture, electricals, cables, healthcare, packaging, and textiles.
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