by Polymer stabilizers are compounds that are added to polymer materials during processing or at any stage of their service lives to enhance the service lifetime and properties of the base polymer. They protect polymers from deterioration caused by environmental factors like heat, light and oxidation. With increasing usage of polymers in various end-use industries like packaging, construction, automotive and others due to benefits like low weight and highdurability, the demand for polymer stabilizers is rising.
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:
The increased usage of polymers in diverse applications is driving demand for polymer stabilizers. With polymers finding wide applications in packaging, automotive, construction and several other industries due to benefits like lighter weight and high durability, their production and consumption rates have risen exponentially. However, polymers are susceptible to degradation from environmental factors like heat, oxygen and light over time. Polymer stabilizers when added to polymers protect them from such deterioration and enhance their service life. The growing end-use of polymers will thus continue propelling the demand for polymer stabilizers to protect the parent polymers and allow their safe and optimal usage.
SWOT Analysis
Strength: Polymer stabilizers improve the durability and longevity of polymers. They protect polymers from degradation caused by heat, light, oxidation or other environmental factors.
Weakness: Strict government regulations regarding the use of certain traditional polymer stabilizers like lead and cadmium-based products. Additionally, the development of alternative green stabilizers requires significant R&D investments.
Opportunity: Growing demand for specialty polymer stabilizers from the construction and packaging industries. Increasing focus on heat resistance and light stability properties of polymers opens new opportunities.
Threats: Volatility in raw material prices may increase the overall production costs. Additionally, strong competition from substitute materials poses a threat.
Key Takeaways
The Global Polymer Stabilizers Market Size is expected to witness high growth over the forecast period of 2023 to 2030.
Asia Pacific currently dominates the market and is expected to maintain its leading position during this period owing to the growth of end-use industries in China and India. Growth in the construction industry due to rapid urbanization along with increasing automotive production are some of the major factors driving the demand for polymer stabilizers in the region.
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. Major players are focusing on new product launches, acquisitions, and expansion strategies to strengthen their market position. For instance, in 2021, Qiagen N.V. acquired Stratos Genomics to expand its portfolio of NGS-based molecular diagnostic products.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
