DUBLIN–(BUSINESS WIRE)–The “Global Hindered Amine Light Stabilizers Market Size, Trends and Growth Opportunity, By Type, By Product Type, By End User, By Application, By Region and Forecast to 2027.” report has been added to ResearchAndMarkets.com’s offering.
The Global Hindered Amine Light Stabilizers (HALS) Market was valued at US$1.05 billion in 2021 and it is expected to reach at US$1.85 billion in 2027 at a CAGR of 7.78% during forecast period 2022-2027.
Hindered amine light stabilisers (HALS) are amine-containing chemical compounds that are employed as stabilisers in plastics and polymers. HALSs (hindered amine light stabilisers) protect polymer coatings from photo-oxidative degradation by forming nitroxide radicals, which then consume harmful radical species through a process known as the denisov cycle.
During the anticipated period, there will be significant increase in the market for hindered amine light stabilisers (HALS). The demand for packaging materials, highly effective additives for automotive components, and increasing demand for UV resistant coated polymers, plastics, and wood goods are the key drivers of the expansion in these sectors.
Market Drivers
The market growth is anticipated to be driven by the quickly expanding demand for hindered amine light stabilisers (HALS) from a growing number of polymer, plastic, and automotive industry participants in several regions, as well as the steadily rising level of foreign investments in the hindered amine light stabilisers (HALS) industry. Growing plastic usage, particularly in emerging economies, is creating a solid foundation for the market for hindered amine light stabilisers (HALS).
Market Restraints
The expansion of the hindered amine light stabilisers (HALS) market is being restricted by fluctuating raw material prices and high manufacturing costs. The implementation of strict regulations with the use of HALS in certain applications is expected to restrain the demand for the hindered amine light stabilisers (HALS) and obstruct the growth of the market. The increase in the price of raw materials forced manufacturers to increase the price of HALS.
Covid-19 Impact on Hindered Amine Light Stabilizers (HALS) Market
Coronavirus epidemic has a negative effect on the market for hindered amine light stabilisers (HALS). The government enacted strict rules in response to this epidemic, which had a number of negative effects on the development of the market for hindered amine light stabilisers (HALS). Construction, packaging, the automobile sector, and other industries that rely heavily on hindered amine light stabilisers (HALS) have all stopped producing them as a result of the global reduction in demand for these substances.
Companies Mentioned
Market Segmentation
By Type
By Product Type
By End User
By Application
Key Question Addressed by the Report
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