Dublin, Nov. 23, 2023 (GLOBE NEWSWIRE) -- The "Hindered Amine Light Stabilizers Market Size, Share & Trends Analysis Report By Type (Monomeric, Oligomeric, Polymeric), By End-use (Automobile, Construction, Packaging), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global hindered amine light stabilizers market size is expected to reach USD 2.84 billion by 2030, growing at a CAGR of 9.3% from 2023 to 2030
The growth is driven by rising consumption of hindered amine light stabilizers (HALS) in paints & coatings and plastics & polymers, which are used in different end-use industries, including automobile, construction, and packaging.
In emerging economies of Asia Pacific, including India, Vietnam, Indonesia, etc., construction and infrastructure project development is proliferating owing to rapid urbanization. This is expected to fuel the demand for HALS used in the construction industry in these countries. Manufacturers of HALS have opportunities to develop stabilizer formulations with reduced environmental impact.
With the growing demand for eco-friendly and sustainable products, these companies use eco-friendly raw materials to develop HALS, improving recyclability and reducing toxicological risks. For instance, BASF SE has developed sustainable and VOC-free TINUVIN and LIGNOSTAB. In specific applications, combining ultraviolet absorbers and HALS can create a synergistic effect, resulting in enhanced light stability of plastic products.
In addition, other additives used in ultraviolet absorbers and HALS also play a crucial role in ensuring the overall light stability of plastic products by protecting them from the degradation caused by light exposure. On the basis of geographies, the Asia Pacific region is expected to witness the fastest CAGR of 9.8% over the forecast period owing to the growing demand from various end-use industries in the region
Hindered Amine Light Stabilizers Market Report Highlights
- The polymeric type segment is projected to grow at the highest growth rate of 9.7% from 2023 to 2030 owing to its increasing use due to superior stabilization efficiency and better durability against UV radiation
- Polymeric HALS are widely used in industries, such as automotive, aerospace, construction, packaging, and agriculture, to prevent the photodegradation of polymers and plastics due to their exposure to UV radiation
- The construction end-use segment dominated the market with a revenue share of over 36.1% in 2022 due to the rising requirement for high-performance materials that can withstand harsh outdoor conditions
- The global industry is competitive owing to the presence of various well-established players that account for a significant market share
- These companies have multiple channels for the production and global distribution of their finished products
- Increasing demand for HALS from various end-use industries has led the market players to increase their global footprint and broaden their product range to cater to the requirements of different applications
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 124 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $1.4 Billion |
| Forecasted Market Value (USD) by 2030 | $2.84 Billion |
| Compound Annual Growth Rate | 9.3% |
| Regions Covered | Global |
Market Dynamics
Market Driver Analysis
- Growing Global Automotive Industry
- Rising Demand For Paints & Coatings From Multiple End-Use Industries
- Increasing Global Demand for Plastics and Polymers
Market Restraint Analysis
- Threat of Substitutes and limited efficiency of hindered amine light stabilizers in long-term light exposure applications
Industry Analysis Tools
- PORTER's Analysis
- Macroeconomic Analysis - PESTLE Analysis
Competitive Landscape
- Adeka Corporation
- Arkema
- BASF SE
- CLARIANT
- Chitec Technology Co., Ltd.
- DOUBLE BOND CHEMICAL IND., CO., LTD.
- Everlight Chemical Industrial Co.
- Greenchemicals S.r.l.
- Mayzo, Inc.
- MPI Chemie BV
- Rianlon Corporation
- SABO S.p.A.
- Solvay
For more information about this report visit https://www.researchandmarkets.com/r/3lxm4t
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