Hindered Amine Light Stabilizers (HALS) Market Size To Grow At A CAGR Of 7.3% In The Forecast Period Of 2024-2032

30 NORTH GOULD STREET, SHERIDAN, WYOMING, UNITED STATES, October 24, 2023 /EINPresswire.com/ -- Hindered Amine Light Stabilizers (HALS) Market Outlook

According to a new report by Expert Market Research titled, “Global Hindered Amine Light Stabilizers (HALS) Market Price Share, Size, Analysis, Report and Forecast 2024-2032″, the hindered amine light stabilizers market reached a value of approximately USD 1.18 billion in 2023. Aided by the surging demand for efficient plastic stabilizers and the broadening applications of HALS across multiple industries, the market is projected to further grow at a CAGR of 7.3% between 2024 and 2032 to reach a value of USD 1.27 billion by 2032.

Hindered amine light stabilizers (HALS) are compounds widely utilised as stabilizers in polymers to inhibit their degradation caused by exposure to light and oxygen. They play a pivotal role in prolonging the life of polymers, improving resistance to weathering, and maintaining the physical and aesthetic properties of products, thus boosting the hindered amine light stabilizers (HALS) market development. Apart from their stabilizing properties, HALS also exhibit high thermal stability and exceptional compatibility with numerous polymers, making them a valuable ingredient in a variety of industrial applications such as automotive, packaging, and construction.

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The rising global demand for effective plastic stabilizers is a key driver for the hindered amine light stabilizers (HALS) market growth. With the burgeoning use of polymers in myriad industries and increasing awareness about the detrimental effects of photodegradation on plastic products, there has been a significant shift towards the use of HALS-based products. Furthermore, the growing trend of utilising weather-resistant materials in the construction and automotive industries has further escalated the demand for HALS, owing to its superior performance in enhancing the longevity and durability of polymers.

The expanding applications of HALS across various industries significantly contribute to the hindered amine light stabilizers (HALS) market expansion. In the automotive industry, HALS are used to enhance the lifespan and maintain the appearance of plastic parts exposed to sunlight. In the construction sector, HALS find usage in the production of weather-resistant materials, such as window frames and PVC siding. Furthermore, HALS’ ability to inhibit degradation in packaging materials makes it an integral component in the packaging industry.

Additionally, the escalating demand for lightweight, durable materials in the automotive and aerospace sectors has bolstered focus on HALS as a key ingredient. With the rise of environmental consciousness and the increasing trend towards fuel efficiency, HALS has emerged as a crucial component in the production of lightweight yet durable plastic parts, thereby amplifying the hindered amine light stabilizers (HALS) market demand.

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Hindered Amine Light Stabilizers (HALS) Market Segmentation

The market can be divided based on product type, application, end-user industry, and region.

Market Breakup by Product Type

Polymeric
Monomeric
Oligomeric

Market Breakup by Application

Plastics
Paints and Coatings
Adhesives and Sealants
Others

Market Breakup by End-User Industry

Packaging
Automotive
Agriculture
Films
Construction
Others

Market Breakup by Region

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global hindered amine light stabilizers (HALS) companies. Some of the major key players explored in the report by Expert Market Research are as follows:

Adeka Corporation
BASF SE
Chitec Technology Co., Ltd
Clariant AG
Everlight Chemical Industrial Corporation
Mayzo, Inc.
SABO S.p.a
Solvay S.A.
MPI Chemie B.V.
Arkema S.A
Others

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