Major players in the hindered amine light stabilizers (HALS) market are ADEKA Corporation, Chitec Technology Co. Ltd, SUNSHOW, SABO S. p. A, Everlight Chemical Industrial Corp. , Beijing Tiangang Auxiliary Co, Double Bond Chemical Ind.
New York, Aug. 26, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hindered Amine Light Stabilizers (HALS) Global Market Report 2021: COVID-19 Growth And Change" - https://www.reportlinker.com/p06130523/?utm_source=GNW
Co. Ltd., Solvay, Rianlon Corporation, Clariant, Everspring Chemical Co. Ltd., TCI Chemicals, UNIQCHEM, and Lambson Limited.
The global hindered amine light stabilizers (HALS) market is expected to grow from $809.48 million in 2020 to $856.77 million in 2021 at a compound annual growth rate (CAGR) of 5.8%. The growth is mainly due to the growth in the construction industry, increasing demand for packaging materials, agriculture films, and automotive components & coatings, rising demand for highly effective additives from industrial applications, and growing demand for UV resistant coated plastics, polymers, and wood products. The market is expected to reach $1,270.94 million in 2025 at a CAGR of 10.4%.
The hindered amine light stabilizers (HALS) market consists of sales of hindered amine light stabilizers by entities (organizations, sole traders, and partnerships) that manufacture hindered amine light stabilizers.Hindered amine light stabilizers are chemical substances with an amine functional group that is used as stabilizers in polymers and plastics.
They protect polymer coatings from photo-oxidative damage by producing nitroxide radicals.
The main types of hindered amine light stabilizers (HALS) are polymeric, monomeric, and oligomeric.A polymeric stabilizer is a chemical compound used in accordance to prevent the degradation of polymers.
Polymeric hindered amine light stabilizers are used to safeguard the core of the material.It is used in plastics, paints and coatings, adhesives and sealants, others and are implemented in various verticals such as packaging, automotive, agriculture films, construction, and others.
Monomeric hindered amine light stabilizers provide effective surface protection, while polymeric HALS protect the core of the material.Oligomeric hindered amine light stabilizers excellent polymer compatibility and good extraction resistance and heat stabilizer.
It is highly effective in polyacetals, polyamides, polyurethanes, flexible and rigid PVC as well as PVC blends.
Asia Pacific was the largest region in the hindered amine light stabilizers market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The expansion of production facilities is a key trend shaping the hindered amine light stabilizers (HALS) market.Major players operating in the hindered amine light stabilizers (HALS) sector are focusing on production facility expansions to improve their capacity to meet rising demand from emerging markets.
For instance, in April 2021, Clariant, a Switzerland-based specialty chemical company revealed the beginning of a new world-class process and light stabilizer production facility, including hindered amine light stabilizer production. Clariant and Beijing Tiangang Auxiliary Co., Ltd. (Tiangang), a china-based manufacturer and provider of light stabilizers jointly own this production facility. It enables Clariant and Tiangang to build on their strong partnership by enhancing their capacity to meet China’s rising demand for high process and light stabilizers from local growth sectors such as automotive, textiles, and coatings.
In July 2021, Sabo S.p.A., a world leader in the development and manufacturing of hindered amine light stabilizers (HALS), entered into a partnership with SONGWON Industrial Co., Ltd. The deal will enable both the organizations to maintain their leading market position and expand opportunities outside of Europe, particularly in the areas of automotive and agricultural applications as well as in the building & construction sector. SONGWON Industrial Co., Ltd. is based in South Korea and is 2nd largest manufacturer of polymer stabilizers in the world, for the SABOSTAB® HALS portfolio which includes hindered amine light stabilizers (HALS).
The growth in the construction industry is projected to fuel the demand for the hindered amine light stabilizers (HALS) over the coming years.Construction is a wide industry that involves anything from mining, quarrying, and forestry to infrastructure and building construction, product manufacturing and supply, and repair, service, and disposal.
Plastics with light stabilizers and UV absorbers can handle light and heat in challenging building and construction conditions, assisting specialists in overcoming the market’s difficulties. For instance, US construction industry accounted for $2600.94 billion in 2020 and is expected to grow to $3486.93 billion by 2025 at a compound annual growth rate (CAGR) of 6.0%. The average spending of the USA construction industry is nearly $1,231 billion every year. Therefore, the growing demand for the construction industry drives the growth of the hindered amine light stabilizers market.
The countries covered in the hindered amine light stabilizers (HALS) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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