September 21, 2022 05:03 ET | Source: Research and Markets Research and Markets

Dublin, Sept. 21, 2022 (GLOBE NEWSWIRE) -- The "Hindered Amine Light Stabilizers (HALS) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering. Low VOC Additive

The global market for Hindered Amine Light Stabilizers (HALS) market estimated at US$1.0 Billion in the year 2022, is projected to reach a revised size of US$1.3 Billion by 2026, registering a compounded annual growth rate (CAGR) of 6.5% over the analysis period. Europe represents the largest regional market for Hindered Amine Light Stabilizers (HALS) and is projected to reach US$289.7 Million by 2026. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 9.1% over the analysis period.

Rapid pace of industrialization, urbanization trend and rising disposable incomes especially in emerging economies are leading to growing use of plastic materials in a range of consumer and industrial products, which in turn is fueling demand for HALS worldwide. Global market for hindered amine light stabilizers (HALS) is being driven mainly by the growing investments into plastic products manufacturing, specifically in Asia-Pacific region that is experiencing strong growth in demand for plastic products. Rapid rise in investments into production facilities is also driving growth in the market.

The global market for HALS is also benefiting immensely from the rising demand for plastic packaging materials, automotive components & coatings, and agricultural films. HALS usage is also growing in commercial and industrial applications, where demand is rising for UV resistant coated plastics, wood products and polymers especially from packaging, construction and automotive sectors. The market is poised to benefit from the rapidly rising demand for packaged food products and growing needs of the automotive industry. With manufacturers seeking higher quality and high performance packaging materials and products with long-term durability, demand is rising for additives such as HALS that can endure extended exposure to sunlight. Despite the strong potential of HALS market, high cost of production and fluctuating prices of raw materials are impeding market growth. With prices of raw materials rising, manufacturers are coming under intense pressure and forced to increase prices of HALS. Another factor impeding growth in the implementation of strict regulations related to the use of HALS in certain applications, whereby plastic manufacturers are compelled to use only those HALS materials that have received approval from related regulatory bodies, especially in the US and the EU. Polymeric HALS constitutes the leading type of HALS worldwide.

The greater effectiveness of polymeric HALS in comparison to monomeric and oligomeric types of HALS contributes to their larger share in the market. Polymer HALS also benefits from its low volatility, superior extraction resistance, positive compatibility and ability to ensure heat stability. Due to its larger structure and presence of different types of chains, Polymeric HALS finds use in varied applications. China and other Asia-Pacific economies represent the most promising markets for HALS globally. The rapidly rising demand for HALS from a growing number of plastic, polymer and automotive industry participants in the region and the constantly rising foreign investments are fueling market growth. With growing plastic consumption, plastics manufacturing infrastructure is being strengthened worldwide, specifically in emerging economies, thus preparing a strong base for the HALS market. Select Competitors (Total 34 Featured):

Key Topics Covered: I. METHODOLOGY II. EXECUTIVE SUMMARY 1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS 3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE III. MARKET ANALYSIS

Sumilizer GS For more information about this report visit https://www.researchandmarkets.com/r/qhalxk