The global epoxy type stabilizers market is anticipated to grow at a significant pace of around 4% to 5% CAGR over the forecast period from 2022 to2032. Growth in the market is driven by increasing adoption of epoxy type stabilizers for various applications.
Stabilizers play a significant role in enhancing the appearance and physical properties of polymer materials. However, with growing demand for better stabilizers from various industries, consumers have shifted their focus towards epoxy type stabilizers.
Epoxy type stabilizers are advanced stabilizers featuring superior adhesiveness due to the presence of epoxy group. They are compatible with a wide range of polymers and are being increasingly used across various applications on account of their ability to enhance strength, thermal stability and corrosion resistance of materials.
Rising adoption of epoxy stabilizers for improving the aesthetic features of various products is providing impetus to the growth of epoxy type stabilizers. These types of stabilizers extend the life span of substrates by protecting them from decay, corrosion and UV light induced distortion. Moreover, they provide higher gloss retention of substrates and significantly decrease blistering and crack formation.
The epoxy-based coatings, paints, and sealants often turn yellow and chalk due to excessive heat and sunlight. In order to minimize and eliminate this, epoxy type stabilizers are being increasingly utilized. This will continue to boost their sales during the forecast period.
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Which Factors Are Triggering the Sales of Epoxy Type Stabilizers?
The robust expansion of epoxy type stabilizers market is attributed to the exponential growth of end-use industries such as automotive and transportation, building and construction, food and beverages, and packaging.
Epoxy type stabilizers have become ideal choices for protecting substrates from various degrading forces as well as for improving the lifespan of products. These stabilizers significantly enhance the adhesiveness of coatings, paints, sealants and several other products.
Growing usage of epoxy-based composites across various industries is anticipated to boost the sales of epoxy type stabilizers during the forecast period. During the last few years, epoxy-based composites have replaced concrete in various applications due to their various advantages such as higher strength, corrosion resistance and durable nature.
As the demand for epoxy type stabilizers for light weight composite materials used in automotive, wind turbine blades, construction and other industries continues to rise, the overall market is bound to witness significant growth over the forecast period.
Consumers are increasingly utilizing epoxy type stabilizers to prevent or slow down degradation of polymers due to heat, UV light and cold as well as to enhance the appearance of the products.
Additionally, innovation in epoxy type stabilizers will further accelerate the growth of epoxy type stabilizers market in the future. Key players are constantly investing larges amounts on research and development activities for introducing ecofriendly bio-based stabilizers.
What are the Challenges Faced by the Epoxy Type Stabilizers Industry?
Despite their growing adoption, there are various factors that are challenging the growth of epoxy type stabilizers market. Some of these factors are the availability of various alternatives and the expensive nature of epoxy type stabilizers.
What Makes North America the Most Attractive Market for Epoxy Type Stabilizers?
North America will continue to remain the most dominant market for epoxy type stabilizers during the forecast period. The North American epoxy stabilizers market is driven by increasing demand from end-use industries, heavy presence of leading market players, and rising government investments.
With rapid economic boom and changing lifestyle across countries such as the United States and Canada, people are showing a keen interest in improving the appearance of their homes. They are employing products like epoxy resins, coatings, paints and stabilizers to enhance the aesthetic features of wood, concrete, composite and plastic products and prevent their degradation. This in turn is triggering the growth of epoxy type stabilizers market in the region.
Similarly, increasing usage of epoxy type stabilizers across automotive, packaging, marine and electronics industries will further push the growth of the market during the forecast period.
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How will Growth Unfold in Asia Pacific?
Spurred by rapid expansion of leading end-use industries, Asia Pacific is anticipated to grow at the highest CAGR over the forecast period. Countries like India and China are experiencing strong demand for epoxy type stabilizers due to increasing investments in construction industry, rising production and sales of automotives, favorable governmental support and growing consumer awareness regarding the benefits of using epoxy type stabilizers.
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Market Competition
Some of the key participants present in the global epoxy type stabilizers market include Clariant AG, Solvay S.A., ADEKA Corporation, BASF SE, Songwon Industrial Co., Ltd., Akzo Nobel N.V., Kyowa Chemical Industry Co., Ltd., Huntsman Corporation, Evonik Industries AG, and Albemarle Corporation.
These key market players are continuously focusing on developing innovative stabilizers with efficient features. Besides this they have adopted growth strategies such as partnerships, collaborations, acquisitions and strengthening of distribution channels to expand their business across attractive regions.