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Hindered Amine Light Stabilizers market size is projected to reach US$1.6 billion by 2027, after growing at a CAGR of 7.1% during the forecast period 2022-2027.

HYDERABAD, TELANGANA, INDIA, November 14, 2022 /EINPresswire.com/ -- Hindered Amine Light Stabilizers market size is projected to reach US$1.6 billion by 2027, after growing at a CAGR of 7.1% during the forecast period 2022-2027. Hindered amine light stabilizers (HALS) are amine-based chemical compounds that can be employed as effective polymers, polyolefins and plastic stabilizers and avoid polymer degradation. These chemicals are tetramethylpiperidine derivatives that are primarily employed to protect polymers against photo-oxidation and Hindered amine light stabilizers have been proven to be highly effective in polyethene, polyolefins, polymer degradation, ozonolysis and polyurethane. Increasing demand for HALSs in emerging markets, a growing construction sector, rising urbanization, emerging industries for paints and coatings and cross-industry collaboration activities are some of the factors that will likely boost market growth during the forecast period. The covid-19 pandemic majorly impacted the market due to restricted production, supply chain disruption, logistics restrictions and a fall in demand. However, with robust growth and flourishing applications across major industries such as transportation, agriculture and others, the hindered amine light stabilizers (HALS) industry is anticipated to grow rapidly during the forecast period.

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Key takeaways:

This IndustryARC report on the Hindered Amine Light Stabilizers market highlights the following areas -

1. Asia-Pacific dominates the Hindered Amine Light Stabilizers market size, owing to the developing economic conditions and rising consumption of paints, adhesives, coatings and sealants in the region.

2. The Hindered Amine Light Stabilizers (HALS) industry will see numerous opportunities throughout the forecast period due to the rising demand for adhesives and sealants in automotive parts and expansion in the construction industry.

3. Hindered Amine Light Stabilizers (HALS), a tetramethylpiperidine derivative is used as a coating substrate in flooring, furniture, decking and other applications in both the home and commercial sectors. As a result, the growing use of plastic and wood in the construction and automotive industries is expected to drive hindered amine light stabilizers market size.

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Segmental Analysis:

1. Hindered Amine Light Stabilizers Market Segment Analysis – by Type : The Polymeric segment held a significant share in the Hindered Amine Light Stabilizers market share in 2021 and is projected to grow at a CAGR of 7.2% during the forecast period 2022-2027. The market for hindered amine light stabilizers is expanding due to their use in plastics, paints and coatings, adhesives and sealants. Due to these extensive properties and rising consumer demand from various industries such as automotive, construction, packaging, agriculture and others, the polymeric segment dominated the market.

Hindered Amine Light Stabilizers Market Segment Analysis – by End-use Industry : The Building & Construction segment held a significant share in the Hindered Amine Light Stabilizers market share in 2021 and is projected to grow at a CAGR of 7.5% during the forecast period 2022-2027. According to the U.S Census Bureau, the seasonally adjusted annual rate of construction in the United States increased from US$1,553,547 in April 2021 to US$1,744,801 in April 2022. According to Oxford Economics, the global construction output in 2020 was US$10.7 trillion 2020 and is expected to reach US$15.2 trillion by 2030. Thus, these factors are expected to raise demand for hindered amine light stabilizers by increasing demand for the building & construction industry.

Hindered Amine Light Stabilizers Market Segment Analysis – by Geography : The Asia-Pacific segment held a significant share in the Hindered Amine Light Stabilizers market share in 2021 up to 42%. The building and construction sector is growing rapidly in Asia-Pacific owing to a major development in infrastructural projects, emphasis on affordable housing units and modular building technology. According to Japan's Ministry of Land, Infrastructure, Transport and Tourism, the construction order for new houses rose to 32.3% in June 2021, compared to -13.4% in June 2020. Furthermore, the Make in India campaign by the Government of India plans to achieve infrastructural investment worth US$965.5 million by the year 2040.

Competitive landscape:

The top 5 players in the Hindered Amine Light Stabilizers industry are:

1. Clariant AG
2. ADEKA Corporation
3. BASF SE
4. Solvay S.A.
5. SABO S.p.A.

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