Key Highlights of Hindered Amine Light StabilizersMarket
· Theglobal hindered amine light stabilizers market wasvalued at US$ 818.26 Mn in 2018 and is anticipated to expand at a CAGR ofapproximately ~5% during the forecast period
· Hinderedamine light stabilizers are widely used in plastics, paints, coatings,adhesives, and sealants, as they prevent cracking and chalking of paints. Whencombined, UV absorbers and hindered amine light stabilizers offer synergisticeffects and simplicity of formulation. Hindered amine light stabilizers protectresins in adhesives and sealants, such as epoxy, polyurethane, and PVC, fromthe loss of mechanical performance caused by degradation due to light, therebyenhancing durability.
Key Drivers of Hindered Amine Light StabilizersMarket
· Paintsand coatings are widely employed for decorative purposes. When used fordecorative purposes, they improve durability and appearance of the surface.They protect surfaces from environmental conditions, weathering, rust, andchemicals. Hindered amine light stabilizers trap free radicals to maintainsurface properties such as gloss and prevent cracking and chalking of paints.
· In orderto prevent degradation of paints and coatings, yellowing, and chalking causedby UV light, UV absorbers are used along with hindered amine light stabilizers(HALSs) to effectively maintain paint gloss and enhance weather resistance
· Theglobal paints & coatings market is primarily driven by advancements in thebuilding & construction industry. Rise in the number of commercialbuildings across the globe is anticipated to propel the global industry forpaint & coatings in the near future. These coatings are primarily used indecoration items such as wood flooring, wall painting, furniture, andsculptures. The global paint & coatings industry is estimated to expandsignificantly, owing to reconstruction and renovations activities in theconstruction sector. Thus, growth of the global paints & coatings industryis likely to propel the global HALS market during the forecast period.
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Plastics to Offer Lucrative Opportunities toHindered Amine Light Stabilizers Market
· Amongapplications, plastics was the most rapidly expanding segment of the globalhindered amine light stabilizers market in 2018. The segment is expected tomaintain its attractiveness throughout the forecast period, due to widecompatibility of plastics when used in the packaging of food and beverageproducts.
· Polymerichindered amine light stabilizers are used to protect a wide range of substratesfrom UV radiations. These are primarily used to protect the core of materialssuch as paints, coatings, and adhesives. They are also excellent light stabilizersfor systems containing carbon black. They are available in forms such asfree-flowing beads and powder. Polymeric hindered amine light stabilizersexhibit higher thermal stability and better extraction resistance.
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Asia Pacific Dominates Hindered Amine LightStabilizers Market
· Amongregions, Asia Pacific accounted for a prominent share of the global hinderedamine light stabilizers market in 2018. The region is expected to remain ahighly lucrative market during the forecast period, owing to growth of theautomotive industry in the region.
· AsiaPacific, along with mature markets such as North America and Western Europe,offers lucrative opportunities to the industrial coatings sector. Asia Pacificis a rapidly growing market for hindered amine light stabilizers. A majority oflarge manufacturers have established their facilities in the region.
· Presenceof some of the most rapidly expanding economies, such as China, India, andSouth Korea, and rising demand for industrial coatings in the automotive industryplay a vital role in driving the demand for industrial coatings in AsiaPacific. This, in turn, is boosting the hindered amine light stabilizers marketin the region.
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Top Three Players Account for a Key Share ofHindered Amine Light Stabilizers Market
· Theglobal hindered amine light market is fragmented. The top three players i.e.The Clariant AG, BASF SE, and Adeka Corporation cumulatively accounted for morethan 20% share of the global market in 2018.
· BASF SEis one of the leading manufacturers of hindered amine light stabilizers. Thecompany constituted 9.5% share of the global hindered aminelight stabilizers market in 2018. The company produces solid and liquid HALSfor use in the paints & coatings industry. The company is forwardintegrated, as it manufactures HALS as well as paints and coatings.
· ClariantAG accounted for 7.1% share of the global hindered amine lightstabilizers market in 2018. Market share of the company can be attributed toits continuous focus on innovations, implementation of growth strategies, andextensive research and development activities.
· Othercompanies include a large number of local manufacturers in India and China,which produce hindered amine light stabilizers in smaller volumes and cater todomestic markets. These are part of the unorganized sector in these countries.
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