April 20, 2024
Polymer Stabilizers Market

Polymer Stabilizers Market Driven By Increasing Plastic Processing Activities

Polymer stabilizers are widely used in plastics to enhance the longevity and efficiency of plastic products by protecting them against heat, ultraviolet radiation, oxidation and other factors that can cause degradation. Some key functions of polymer stabilizers include preventing discoloration, improving weather resistance and heat stability. They are commonly added during plastic processing activities such as extrusion, injection and blow molding. With rapid urbanization and industrialization driving greater plastic consumption globally, the need for stabilizers to ensure quality and effectiveness of plastics over longer usage periods has risen tremendously.

The global 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 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends witnessed in the polymer stabilizers market is the rising preference for heat stabilizers. Heat stabilizers prevent degradation of properties in plastics caused due to excessive heat during processing or in certain applications. With growing requirement for high performance plastics across industries such as automotive, packaging and construction that need to withstand higher temperatures, demand for heat stabilizers has significantly increased. Their long-lasting efficacy coupled with ability to stabilize polymers at elevated temperatures without compromising quality makes them suitable for a wide range of high-heat applications.

Another emerging trend is the development of bio-based and environment-friendly polymer stabilizers. Stricter environmental regulations have prompted stabilizer manufacturers to invest in green chemistries to produce stabilizers from renewable sources with lower toxicity. Natural polyphenols extracted from plants, and biodegradable stabilizers derived from crops are gaining market recognition owing to their eco-friendly attributes. Efforts to replace conventional petroleum-based stabilizers with sustainable alternatives will drive future innovation and growth opportunities in the industry.

Porter’s Analysis

Threat of new entrants: The polymer stabilizers market requires high R&D investments and regulatory approvals, limiting threat of new entrants.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitute products and commoditization of polymer stabilizers.

Bargaining power of suppliers: Few leading suppliers exist with differentiation in product quality, providing them higher bargaining power.

Threat of new substitutes: New stabilizer technologies can substitute existing products, representing a moderate threat from substitutes.

Competitive rivalry: The market is highly competitive with leading global players differentiating based on technology and quality.

Key Takeaways

The Global Polymer Stabilizers Market Demand is expected to witness high growth. The Asia Pacific region currently dominates the market and is expected to witness the fastest growth over the forecast period due to high polymer production.

Regional analysis: Asia Pacific has emerged as the leading consumer of polymer stabilizers owing to large production of polymers in China, India, and other developing countries. China dominates polymer stabilizer usage in the region.

Key players: Key players operating in the polymer stabilizers market are Illumina, Inc., Thermo Fisher Scientific, Inc., Qiagen N.V., F. Hoffmann-La Roche Ltd., Foundation Medicine, Inc. (Roche), Invitae Corporation, NeoGenomics Laboratories, Inc., Myriad Genetics, Inc., Genomic Health, Inc. (Exact Sciences Corporation), Caris Life Sciences, ArcherDX, Inc. (Invitae Corporation), Guardant Health, Inc., Personal Genome Diagnostics Inc., Biocept, Inc., Tempus Labs, Inc.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it