Polymer Stabilizers Market, By Product Type (Antioxidants, Heat Stabilizers, Light Stabilizers), By End-user Industry (Packaging, Automotive, Consumer Goods, Building and Construction, Other End-user Industries), and By Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
The usage of plastics is increasing in different sectors of the economy, especially in the consumer goods industry. Polymer stabilizers are widely used in the agriculture sector to protect crops from extreme temperatures. In addition, they are also used in the construction industry for manufacturing conduits, roofing, and decking. The main purpose of these products is to prevent the degradation of the polymer during processing and storage. In addition, they also add heat resistance to the polymer product. This helps to prolong the useful life of the material.
Market Dynamics:
The market is driven by growing demand for high end plastics. These materials replace conventional materials, and are used for many applications. In particular, the packaging industry is expanding due to the growing demand for plastics from packaging application. In addition, the increase in the electronics industry is driving the consumption of plastics. Additionally, growing retail industry and increased construction activity is also driving the consumption of plastics. Besides, the demand for agricultural films is also increasing. Moreover, the food safety norms are becoming stricter and are pushing for good quality packaging which is further anticipated to augment market growth.
On the other hand, lack of sufficient supply of raw materials is expected to hamper the growth of the market.
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