Polymer Stabilizers Market is Estimated To Witness High Growth Owing To Packaging Industry Adoption Trend
Market Overview:
Polymer stabilizers are chemical substances added to polymers during processing or just after polymerization to improve polymer qualities and enhance mechanical and chemical resistance properties. They protect polymers from breakage, weathering, discoloration, chemical attack, and microbial attack. The major applications of polymer stabilizers include packaging, automotive, building & construction, consumer goods, and others.
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:
The growth of packaging industry is expected to drive the polymer stabilizers market over the forecast period. Packaging plays a crucial role in protecting products from environmental factors like moisture, oxygen, and microorganisms. Polymer stabilizers prevents degradation of polymers used in packaging applications during processing, transportation, and storage. They enhance durability and extend shelf life of packaged products. With increasing population and changing lifestyles, the demand for convenient packaging and longer shelf life products is rising exponentially which is projected to boost the utilization of polymer stabilizers in packaging industry.
Porter’s Analysis
Threat of new entrants: New entrants face high capital requirements for R&D, manufacturing facilities, and marketing. Barriers are high.
Bargaining power of buyers: Buyers have moderate power due to availability of substitutes. Buyers can negotiate on price and demand value-added services from existing suppliers.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to differentiated raw materials and availability of substitutes.
Threat of new substitutes: Threat of substitutes is moderate as polymer stabilizers have applications across various end-use industries.
Competitive rivalry: Intense competition exists among existing players.
SWOT Analysis
Strengths: Wide application base and necessity in plastics processing industry. Established production facilities and distribution network.
Weaknesses: Fluctuation in raw material prices and regulatory compliance requirements increases production costs. Dependence on plastics & polymers industry demand.
Opportunities: Growth in plastics consumption in emerging economies. Innovation in stabilizer technologies to reduce costs and enhance performance.
Threats: Stringent environmental regulations on plastics usage. Shift towards substitutes like bio-based and recyclable materials.
Key Takeaways
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 the packaging sector. Rapid urbanization and growth of the e-commerce industry are fueling the need for packaging materials like plastics and polymers across the world.
Regional analysis: Asia Pacific dominates the global polymer stabilizers market, both in terms of production and consumption. China, India, Japan, and South Korea are the major consumers of polymer stabilizers in the region. Growing manufacturing industries, expanding construction activities, and surging automobile sales in Asia Pacific economies support the regional market growth.
Key players: 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. These market players are focusing on new product launches, capacity expansions and mergers & acquisitions to strengthen their market position.
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