Market Synopsis:
Plastic Stabilizer is a type of plastic additive, used to enhance the properties of plastic. It provides protection from UV rays and high temperatures, prevents oxidation, and chain scission (molecular deterioration of the polymers at high temperatures) properties. It imparts greater weatherability to the substrate and maintains viscosity of the material which facilitates its processing and fabrication. Plastic Stabilizers find their major applications in pipes, window profiles, toys, cable ducts, packaging films, automotive components and others.
The Global Plastic Stabilizer Market is expected to grow at CAGR of 4.49% to reach USD 8,577.1 million till 2023. Growing demand of plastic in automotive industry to replace conventional material, huge consumption of plastics in day to day life, and rising demand of plastics in Asia Pacific are some of the major factors driving growth of the market.

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Market Categorization:
The Global Plastic Stabilizer Market is segmented on the basis of type, material, end use industry and region. On the basis of Type, divided into heat stabilizer, antioxidant, light stabilizer, and others. On the basis of Application, segmented into thermoplastic, thermosetting, and elastomers. On the basis of End Use Industry, categorized into packaging, building & construction, automotive, consumer goods, electrical & electronics, agriculture, and others. On the basis of Geographically, Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa

Top Global Players:
The prominent players in the Global Plastic Stabilizer Market are, BASF SE (Germany), Songwon Industrial Co., Ltd. (South Korea), Clariant AG (Switzerland), Akzo Nobel N.V (the Netherlands), Evonik Industries AG (Germany), ADEKA CORPORATION (Japan), Solvay SA (Belgium), INDOFIL INDUSTRIES LIMITED (India), Bruggemann Group (Germany), and Baerlocher GmbH (Germany), among others.

Regional Analysis:
The Global Plastic Stabilizer Market is spanned across five key regions: Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, Asia Pacific accounted for the largest share of the market in 2016, and is projected to grow at the highest CAGR of 5.11% during the review period. The dominance of Asia Pacific region is primarily attributed to the increasing demand for the product in manufacturing consumer goods and expanding production capacity in this region. Asia Pacific region is closely followed by North America, which accounted for the second largest market share in 2016. The U.S. accounted for the highest market share in North America and is expected to remain dominant throughout the forecast period owing to greater penetration of end use industries in the country.

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