New York, United States, Nov. 16, 2023 (GLOBE NEWSWIRE) -- The Global Heat Stabilizers Market Size To Grow from USD 9.5 Billion in 2022 to USD 13.84 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 4.1% during the forecast period.
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Heat stabilizers are chemical additives used in a variety of industries to prevent or lessen the degradation of materials and products when they are exposed to high temperatures, particularly during processing or use. The chemical, mechanical, and physical properties of the materials are preserved with the help of these stabilizers, extending their lifespan and ensuring their functionality at high temperatures. Heat stabilizers are frequently used in the manufacture of plastics to prevent thermal degradation during processing (such as extrusion and injection molding) and when the finished plastic product is exposed to high temperatures throughout the course of its lifetime.
COVID 19 Impact
Global supply networks were disrupted by the epidemic, which had an effect on the availability of both raw materials and completed commodities. This might have had an impact on the production and supply of heat stabilizers, possibly leading to changes in price and delays in delivery. Demand for heat stabilizers fluctuated during the pandemic in a number of industries, including consumer goods, building, and the automobile sector. For instance, the demand for heat stabilizers used in automotive applications was impacted by a fall in automobile industry production and sales. The COVID-19-induced global economic crisis may have had an influence on consumer spending and investment in a number of sectors. This economic volatility may have had an impact on investment choices and purchase decisions for applications involving heat stabilizers.
Heat stabilizers are frequently used in the production of plastics and polymers to prevent thermal degradation during processing and application. With the ongoing growth of the plastics industry, notably in the packaging, automotive, and construction industries, it was projected that the demand for heat stabilizers would increase. The construction industry is a significant consumer of these chemicals due to the fact that heat stabilizers are used in many building materials, including adhesives, sealants, and coatings. The market's growth was influenced by rising infrastructure development projects in emerging economies. In PVC and rubber-based vehicle components, heat stabilizers are frequently employed. As the automotive sector increased, so did the demand for heat stabilizers in this application.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on "Global Heat Stabilizers Market Size, Share, and COVID-19 Impact, By Product (Metal Soaps, Organotin), By Application (Wires & Cables, Pipes & Fittings, Coatings & Floorings, Profiles & Tubing), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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Product Insights
Metal Soaps segment is dominating the market over the forecast period
On the basis of product, the global heat stabilizers market is segmented into Organotin, Metal Soaps, and Others. Among these, the metal soaps segment is dominating the market with the largest market share over the forecast period. Metal soaps are used to generate vast amounts of PVC and other thermoplastic resins, which are widely used in a range of industries, including construction, automotive, packaging, and consumer goods. The continued growth of the plastics sector has had a favorable effect on the market for metal soaps. Metal soaps are a tempting option for companies searching for cost-effective solutions because they are typically more economical than other types of heat stabilizers. The need for heat-stabilized products is growing in a number of end-use industries, including building materials, vehicle components, electrical lines, and cables. To provide these applications with the necessary thermal stability, metal soaps are crucial.
Application Insights
Pipes and fittings segment accounted the largest market share over the forecast period
Based on the application, the global heat stabilizers market is segmented into Coatings & Floorings, Pipes & Fittings, Wires and cables, Profile and tubing, and Others. Among these, the pipes and fittings segment accounted the largest market share over the forecast period. As infrastructure development has drawn more attention, particularly in emerging nations, the need for pipes and fittings has grown. These components are commonly used in water supply systems, sewer networks, irrigation systems, and other construction projects. The requirement for pipes and fittings for plumbing and drainage systems has increased due to the construction of residential and commercial buildings as a result of the rapid urbanization occurring in many parts of the world. In the oil and gas industry, pipes and fittings are utilized to transport hydrocarbons over long distances. The expansion of the oil and gas infrastructure in several locations has led to an increase in the need for heat stabilizers.
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Regional Insights
North America is dominating the market with the largest market share
Among all, North America is dominating the market with the largest market share over the forecast period. Heat stabilizers are widely used in a variety of industries, including those in North America's automotive, building, packaging, and consumer products sectors. The demand for heat stabilizers in the region has grown as a result of the rise of these industries. Infrastructure development and construction initiatives in North America have fueled the demand for heat-stabilized building materials like adhesives, sealants, and coatings.
Asia Pacific is witnessing the fastest market share over the forecast period. Asia Pacific is experiencing rapid industrial and urbanization, which has increased demand for a variety of products that require heat stabilizers, such as plastics, rubber, and building supplies. The construction industry is booming across the Asia Pacific area as a result of massive infrastructure projects and urban development initiatives now underway. Heat stabilizers, which are essential, are used in the production of the pipes, profiles, and fittings used in these projects.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global heat stabilizers market include Chemson, BASF SE, Songwon, BRUNO BOCK, Galata Chemicals, Clariant, Kisuma Chemicals, Pau Tai Industrial Corp., Ika Innovative Kunststoffaufbereitung GmbH & Co. Kg, Asúa Products, S.A., REAGENS SPA, Vikas Ecotech Ltd., Valtris Specialty Chemicals, Jindal Electric & Machinery Corporation, PMC Group, Inc., Baerlocher GmbH, ADEKA CORPORATION, GOLDSTAB ORGANICS PVT LTD, Am Stabilizers Corporation, Nishan Multitrade, MODERN CHEMICALS AND PLASTICS, Amfine Chemical Corporation and other key vendors.
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Recent Market Developments
- In January 2021, the price of plastic additives such PVC heat stabilizers, pigments, processing aids, lubricants, UV stabilizers, and antioxidants would rise by up to 10% starting immediately, according to a BASF release.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global Heat Stabilizers Market based on the below-mentioned segments:
Heat Stabilizers Market, Product Analysis
- Organotin
- Metal Soaps
- Others
Heat Stabilizers Market, Application Analysis
- Coatings & Floorings
- Pipes & Fittings
- Wires and cables
- Profile and tubing
- Others
Heat Stabilizers Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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