Wilmington, Delaware, United States, Nov. 15, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global hindered amine light stabilizers market was estimated at a value of US$ 1.1 billion in 2022. It is anticipated to register a 6.6% CAGR from 2023 to 2031 and by 2031, the market is likely to attain US$ 2.0 billion by 2031.
In order to stop the chain reactions that free radicals generated during UV-induced polymer breakdown start, hindered amine light stabilizers function as radical scavengers. By neutralizing these free radicals, these stabilizers successfully stop further deterioration. This guarantees that polymers' mechanical and optical qualities hold true for an extended amount of time. It is anticipated that increased use of high-performance polymers will accelerate the expansion of the hindered amine light stabilizers sector in the near future.
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Market Trends for Hindered Amine Light Stabilizers
- HALS are very effective at shielding polymers from UV deterioration and environmental stress, which helps them comply with a variety of regulations. To ensure that their products satisfy the required environmental standards and to comply with these rules, the majority of end-users are using HALS.
- Manufacturers in the construction, automotive, and packaging industries are integrating these stabilizers into their product designs to comply with regulatory requirements and to match the growing emphasis on sustainable practices.
- Over the course of the forecast period, an increase in customers who are concerned about the environment is expected to propel the growth of the hindered amine light stabilizers market.
- Customers that care about the environment favor products manufactured with less environmentally harmful components. HALS makes it possible for businesses to produce goods that are both robust and effective. These goods satisfy the needs of environmentally conscious consumers and are also eco-friendly
Key Findings of Market Report
- An increase in investments in waste management and a rise in the usage of sustainable materials have resulted from the surge in plastic garbage.
- Governments around the world are putting a strong emphasis on sustainable development by using recyclable and environmentally friendly materials.
- By prolonging the lifespan of polymers and plastics, HALS helps lower the frequency of component replacements.
- In light of the manufacture and disposal of these components, this helps to lessen the overall environmental impact.
- HALS prolongs the stability and functionality of different components, hence lowering the frequency of replacements
- In the upcoming years, it is anticipated that the implementation of strict environmental rules would accelerate the market's growth for amine light stabilizers
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Few of key developments by the players in this market are:
| Company name | Key Developments |
| BASF | In order to power the McIntosh, Alabama facility, BASF's plastic additives company teamed up with Noria Energy in March 2023 to design a first-of-its-kind floating solar panel that consists of UV absorber and HALS manufacturing. |
| UniteChem Group | China's UniteChem Group declared in November 2022 that it would open an office as well as warehouse in Savannah, Georgia, in addition to a regional headquarters in New Jersey, by the end of 2022, in order to penetrate the American market for light stabilizers. |
Global Hindered Amine Light Stabilizers Market: Key Players
To increase their market share, the majority of businesses producing hindered amine light stabilizers are pursuing alliances, partnerships, and mergers and acquisitions. In an effort to grow their market share for hindered amine light stabilizers, they are also investing in the research and development of new goods.
The following companies are well-known participants in the global hindered amine light stabilizers market:
Clariant AG, ADEKA Corporation, BASF SE, Solvay S.A., SABO S.p.A., Greenchemicals SpA, Rianlon Corporation, Everlight Chemical Industrial Corp., ,Chitec Technology Co., Ltd. Double Bond Chemical Ind., Co., Ltd., Beijing Tiangang Auxiliary Co., Ltd., Mayzo, Inc., Lambson Ltd., MPI Chemie B.V
Global Hindered Amine Light Stabilizers Market Segmentation
Type
Polymeric, Monomeric, Oligomeric
Application
Paints & Coatings, (Automotive Coatings, Industrial & Protective Coatings, Architectural & Construction Coatings, Wood Coatings), Adhesives & Sealants, Plastics, Others
Region
North America, Latin America, Asia Pacific, Europe, Middle East & Africa
Global Market for Hindered Amine Light Stabilizers: Regional Outlook
Various reasons are propelling the growth of the hindered amine light stabilizers market throughout the region. These are:
- From 2023 to 2031, Asia Pacific is expected to have a major share. From 2023 to 2031, Asia Pacific is anticipated to have the greatest share. Regional market dynamics are being driven by China's and India's rapid industrialization as well as the expansion of the manufacturing industry.
- The hindered amine light stabilizers industry statistics in North Europe and America are being driven by the implementation of strict environmental rules and an increase in expenditure in research and development activities. Owing to a rise in investments in infrastructure development, emerging nations in Latin America and the Middle East and Africa are also increasing market revenue. The market trajectory for hindered amine light stabilizers is experiencing significant growth in these regions due to an increase in awareness concerning environmental sustainability.
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