Surge in Demand for Architectural Coatings to Provide Impetus for Market Growth
Hindered amine light stabilizers were primarily developed as metal deactivators and photo stabilizers. Additional research uncovered that the oxime structure of hindered amine light stabilizers also served as an anti-oxidant (AO). Additives such as hindered amine light stabilizers are used to enhance the performance of polypropylene that are predominantly used in artificial turfs. The adoption of hindered amine light stabilizers is higher in applications wherein high performance is a key parameter and chemistry of plastic is suitable. This additive has garnered noteworthy popularity across the world as a high-performance UV absorber.
Over the past couple of decades, an uptrend in the demand for paints & coatings was observed, owing to a range of factors. Out of the three major types of paints & coatings, including OEM coatings, special purpose coatings, and architectural coatings, the uptake of architectural coatings is projected to be the highest. The ascending adoption of architectural coatings in institutional, commercial, and residential sectors has directly influenced the demand for additives such as hindered amine light stabilizers. Furthermore, surge in demand for industrial coatings in various sectors, such as automotive, aerospace, marine, wood, etc., is another factor that is expected to propel the hindered amine light stabilizers market during the forecast period (2019-2027). Thus, the hindered amine light stabilizers market is expected to reach a market value of ~US$ 904 Mn by the end of 2020.
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Application in Plastics Creates Substantial Demand for Hindered Amine Light Stabilizers
Plastics or plastic materials are increasingly being used in an array of applications. From straightforward single-use devices to complex components in advanced products, the design aspects of these products are evolving with changing requirements. The plastic industry, thus, to fulfill these rapidly changing requirements predominantly relies on various polymers, polymer blends, and polymer additives. The demand for additives to develop plastics has witnessed a notable growth, as they protect polymer from UV-light induced oxidative and thermal stress.
Within the hindered amine light stabilizers market, the plastics application segment is estimated to hold a significant market, as hindered amine light stabilizers are increasingly being used to provide UV-protection to plastic materials. The plastic segment is projected to account for roughly ~75% share of the hindered amine light stabilizers market.
While stakeholders in the plastics industry continue to explore the potential scope for improvement in product performance, it has triggered the need for quantitative and qualitative analysis of hindered amine light stabilizers.
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Studies Explore Potential Uses of Hindered Amine Light Stabilizers for Large Joint Replacement Procedures
While the paints & coatings and plastics application segments are expected to hold significant share of the hindered amine light stabilizers market in terms of market share and value, owing to research and advancements in arthroplasty, use of hindered amine light stabilizers is on the rise, particularly for large joint replacement. Traditionally, ultra-high molecular weight polyethylene (UHMWPE) has played a critical role as a bearing component material in joint replacement procedures.
However, issues pertaining to wear resistance surfaced repeatedly, which paved the way for the entry of Highly Crosslinked Polyethylenes. In 2018, a UHMWPE covered with hindered amine light stabilizers was developed for applications, such as large joint replacement procedures in which a high degree of resistance to wear and optimum mechanical properties is imperative. The results of the biocompatibility and mechanical tests offered significant promise– a factor that has persuaded experts in the field to fuel investments to identify the benefits and advantages of hindered amine light stabilizers.
While research and development are likely to open new avenues for the hindered amine light stabilizers market, stakeholders are also expected to lean toward inorganic growth strategies, including mergers & acquisitions, collaborations, product launches, and strategic alliances. For instance, the SONGWON Industrial Group and Sabo S.p.A. that are long-term business partners launched a new and cutting-edge light stabilizer system, SABO®STAB UV 216, which was primarily developed for complex agricultural applications.
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Analysts’ Viewpoint
The hindered amine light stabilizers market is estimated to grow at a moderate CAGR of ~5% during the forecast period. This growth is largely driven by the increasing adoption of industrial and architectural coatings wherein hindered amine light stabilizers are used. While UV protection of plastic and preventing resins from changing color are expected to remain the major areas of applications, the potential benefits of polymer additives in the medical field offer significant promise for stakeholders operating in the hindered amine light stabilizers market. The Asia Pacific region will remain the most prominent regional hindered amine light stabilizers market, owing to fast-paced urbanization and sheer size of the market in this region.
Hindered Amine Light Stabilizers Market – Scope of the Report
The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global hindered amine light stabilizers market to accurately gauge its potential for growth. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for future growth of the global hindered amine light stabilizers market to identify opportunities for stakeholders. The report also provides insightful information about how the global hindered amine light stabilizers market would expand during the forecast period i.e. 2019-2027.
The report offers intricate dynamics about different aspects of the global hindered amine light stabilizers market, which aid companies operating in the market in making strategic business decisions. TMR’s study also elaborates on significant changes that are highly anticipated to configure growth of the global hindered amine light stabilizers market during the forecast period. It also includes key indicator assessment to highlight growth prospects for the global hindered amine light stabilizers market and estimate statistics related to market growth, in terms of value (US$ Mn) and volume (tons).
This study covers detailed segmentation of the global hindered amine light stabilizers market, along with key information and a competitive outlook. The report mentions profiles of key players, which are currently dominating the global hindered amine light stabilizers market, wherein various development, expansion, and winning strategies practiced and implemented by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on Hindered Amine Light Stabilizers Market
The report provides detailed information about the global hindered amine light stabilizers market on the basis of comprehensive research on various factors that are playing a key role in promoting growth of the market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the global hindered amine light stabilizers market so as to help them design successful strategies and make target-driven decisions.
- Which type segment of the global hindered amine light stabilizers market is estimated to emerge as a major revenue generator for the market during the forecast period?
- How are key market players successfully earning revenues out of advantages offered by hindered amine light stabilizers?
- What would be the Y-o-Y growth rate of the global hindered amine light stabilizers market between 2019 and 2027?
- What are winning imperatives of leading market players operating in the global hindered amine light stabilizers market?
Research Methodology – Global Hindered Amine Light Stabilizers Market
The research methodology adopted by analysts for compiling the global hindered amine light stabilizers market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the global hindered amine light stabilizers market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of the data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global hindered amine light stabilizers market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global hindered amine light stabilizers market