Hindered Amine Light Stabilizers (HALS) Market is Projected to Reach a Valuation of US$ 2.2 Billion by 2033 with CAGR of 6.4%

The United States hindered amine light stabilizers market is poised for significant expansion. The increasing application of HALS in the construction market is expected to drive market growth. The increasing spending on infrastructure projects by the government is expected to support the sector. The rise in e-commerce is also contributing to the plastic packaging market growth in the country. The United Kingdom hindered amine light stabilizers market has been growing steadily given the increasing demand for UV-stabilized polymer products.

/EIN News/ — NEWARK, Del, May 09, 2023 (GLOBE NEWSWIRE) — The global hindered amine light stabilizers market revenue is anticipated to reach US$ 2.2 Billion by 2033, up from US$ 1.2 Billion in 2023. Future Market Insight estimated a CAGR of 6.4% for the market between 2023 and 2033.

Demand for paints and coatings has increased in recent decades for various reasons. Architectural coatings are expected to experience the highest level of growth. The usage of architectural coatings has directly impacted the demand for additives such as hindered amine light stabilizers. The rising demand for industrial coatings in various sectors is expected to drive the demand for hindered amine light stabilizers throughout the forecast period.

The demand for plastic packaging materials, automotive components and coatings, and agricultural films is increasing. The use of HALS is on the rise in commercial and industrial settings. These stabilizers are applied in various ways including in the production of UV-resistant coated plastics, wood products, and polymers.

In many applications, plastic materials are utilized with increasing frequency. The design of plastic products is constantly evolving to meet changing requirements. To keep up with these demands, the plastic industry relies heavily on polymers, polymer blends, and polymer additives. 

There has been a significant increase in demand for additives that improve the properties of plastics. This also includes protecting them from damage caused by exposure to UV light and high temperatures. Stakeholders in the plastics industry seek ways to improve product performance. HALS are gradually used to improve the durability and lifespan of plastic products.

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Given the increasing demand for packaged products along with the requirements of the automotive industry, the market is anticipated to continue its growth trajectory. To meet the need for high-quality, durable packaging materials and products, manufacturers are seeking additives like HALS that can provide excellent performance and withstand prolonged exposure to sunlight.

Consumers in both developed and developing countries have diverse mobility requirements. In the coming years, urbanization is anticipated to result in a rise in automobile ownership. This rise in car ownership is predicted to drive up demand for automotive refinish coatings. 

Automotive refinish coatings serve the function of stabilizing paint in various conditions, including exposure to UV rays, humidity, and pollutants. HALS are increasingly used to prevent automotive paint degradation, yellowing, and chalking caused by UV light. They efficiently preserve the sheen of the paint and improve its resistance to various weather conditions. This is likely to open opportunities for market players.

Key Takeaways:

• The hindered amine light stabilizers market in the United States is expected to upsurge at 6.4% CAGR during the forecast period.
• The market in the United Kingdom is anticipated to rise profitably, exhibiting a CAGR of 6.2% through 2033.
• The market in China is expected to thrive considerably, registering a CAGR of 6.3% from 2023 to 2033.
• With a CAGR of 6.3% over the forecast period, the market in Japan is predicted to develop rapidly.
• The market in South Korea is predicted to expand significantly between 2023 and 2033, reaching a CAGR of 6.1%.

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Competitive Landscape:

Hindered amine light stabilizers market players are engaged in the production, distribution, and sale of HALS products. They are also involved in the research and development of new and innovative HALS solutions. They also invest to offer high-quality and cost-effective products to maintain a competitive edge. Moreover, market players aim to expand their global presence. They achieve this by forming strategic alliances, collaborating with other industry players, and acquiring other companies.

Recent Developments:        

• In July 2022, BASF and 3T Industries Sdn Bhd facilitated pineapple plantations in Malaysia to upturn their produce and save resources. To stabilize recycled plastics that were used to shield pineapples from sunburn, 3T Industries deployed BASF’s IrgaCycle.
• SI Group introduced ETHANOX® 4737R, a new fuel antioxidant blend, in May 2019. The product was designed to offer several benefits to function in different weather conditions. ETHANOX® 4737R is particularly effective at stabilizing gasoline and aviation fuel.

Key Players:

• BASF SE
• Adeka Corporation
• Mayzo, Inc.
• SI Group, Inc.
• Addivant

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HALS Market Segmentation:

By Application:

• Packaging
• Automotive
• Agriculture Films
• Construction
• Others

By Type:

• Polymeric
• Monomeric
• Oligomeric

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa(MEA)

Table of Content (ToC):

1. Executive Summary | Hindered Amine Light Stabilizers Market

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033

    4.1. Historical Market Size Value (US$ Million) & Volume (MT) Analysis, 2018 to 2022

    4.2. Current and Future Market Size Value (US$ Million) & Volume (MT) Projections, 2023 to 2033

        4.2.1. Y-o-Y Growth Trend Analysis

        4.2.2. Absolute $ Opportunity Analysis

5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application

Have a Look at the Related Reports of Chemicals & Materials Domain:

Amines Market Share: Amines consumption is projected to grow by 2X during the forecast period, especially on account of the expansion of end-use industries.

Amine Oxide Market Size: The increase in the demand for mild surfactants especially from the personal care industry is expected to drive the global amine oxide market.

Stabilizers Market Trends: Increasing demand for plastics in several end-user segments including packaging, automotive and construction among others has been a major factor driving demand for stabilizers.

Polymer Stabilizers Market Outlook: A recent trend observed is the rising demand for eco-friendly alternatives in polymer stabilizers, which consist of low phenol & VOC (Volatile Organic Compound) content.

Soil Stabilizers Market Demand: The overall soil stabilizers market is distributed across various key regions in the world where the ongoing and forthcoming construction projects reflect a promising opportunity for the manufacturers of soil stabilizers.

Amine Additives in Paints and Coatings Market Growth: Amine additives in paints and coatings market players are seen focusing on expanding their portfolio with specialty additives such as amine additives in paints and coatings.

Piroctone Olamine Market Type: Growing demand for piroctone olamine for the production of hair care and cosmetics products is expected to drive the market.

Diethanolamine Market Analysis Forecast: The increasing demand for diethanolamine from the construction and agricultural industries is expected to drive market demand during the forecast period.

Antioxidant and Stabilizer Agents Market Sale: The market of antioxidant and stabilizer is showing an upsurge in the recent past and the same trend is expected to be followed in the next 8 to 10 years due to numerous factors.

Electronic Sealants Market Value: Increasing demand for electronic sealants in the medical industry for various medical devices is also expected to propel growth in the United States.

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