LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global polymer stabilizer market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global polymer stabilizer market will grow at a CAGR of over 5% during the forecast period. The increasing demand for light stabilizers in polymers and plastics is a major factor driving the market’s growth.
Light stabilizers are used to protect plastics and other materials against degradation. When plastics and other materials are exposed to UV radiation, it goes through degradation due to photo-oxidative process. This results in deterioration of mechanical properties, changes in appearance, and the formation of visible defects such as cracks. UV absorbers and HALS are the different types of light stabilizers. UV absorbers function by absorbing harmful UV radiation. Benzophenone and benzotriazole based products are considered as UV absorbers.
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In this report, Technavio highlights the increasing demand for lightweight plastic products in automotive applications as one of the key emerging trends driving the global polymer stabilizer market:
Increasing demand for lightweight plastic products in automotive applications
The lightweight property of plastics enables manufacturers to produce better, fuel-efficient vehicles. For example, every 10% reduction in the weight of the vehicle results in a high reduction in fuel use. The stringent regulatory norms imposed on automotive manufacturers by various government across the globe is the primary reason behind the increasing use of plastics. Lightweight plastics polymers like polypropylene are used in various components of a car such as automotive bumpers, carpet fibers, gas cans, cable insulation, chemical tanks, and carpet fibers.
“Polyurethane is used in automotive suspension bushings, foam insulation panels, elastomeric wheels and tires, electrical potting compounds, flexible foam seating, cushions, and hard plastic parts. Sheathing of electrical cables, pipes, doors, and automobile instruments panels are done using PVC. Therefore, the increasing use of plastic and lightweight plastics polymers will significantly boost the growth in the global polymer stabilizing market during the forecast period,” says a senior analyst at Technavio for research on plastics, polymers, and elastomers.
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Global polymer stabilizer market segmentation
This market research report segments the global polymer stabilizer market into the following end-users (packaging, automotive, building and construction, and consumer goods), types (heat stabilizer, antioxidants, and light stabilizer), and key regions (the Americas, APAC, and EMEA).
The packaging segment held the largest market share in 2017, accounting for nearly 35% share. The market share for this end-user is expected to increase by 2022. The fastest growing end-user is consumer goods, which will account for 15% of the total market share by 2022.
APAC was the leading region for the global polymer stabilizer market in 2017, accounting for a market share of 40%. By 2022, APAC will continue to dominate the market and is expected to witness a growth of nearly 2%.
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