Hindered Amine Light Stabilizers (HALS) Market

Hindered Amine Light Stabilizers (HALS) Market Size (2023-2028)

Hindered Amine Light Stabilizers (HALS) Market is valued at USD 1.24 billion in 2022 and is projected to grow at a Compound Annual Growth Rate (CAGR) of 8.2 % during the forecast period to become USD 3.27 billion markets in 2028.

Hindered Amine Light Stabilizers (HALS) are compounds that are added to plastics to make them resistant to UV light. Usually under prolonged exposure to sunlight or other forms of UV Light most polymers begin to degrade and finally, the chemical and structural stability of polymers begins to dissipate, thereby destroying the product that was made with these plastics. In order to prevent that hindered amine light stabilizers (HALS) are added to plastic materials during manufacture.

Recent Developments:

Addivant recently increased its prices on Hindered Amine Light Stabilizers (HALS) owing to increased raw material costs and market conditions. The increase was up to 15% in some cases.

HINDERED AMINE LIGHT STABILIZERS (HALS) MARKET REPORT COVERAGE:

Hindered Amine Light Stabilizers (HALS) Market segmentation

On the basis of Type:

• Monomeric
• Oligomeric
• Polymeric

Polymeric amine stabilizers are longer and hence are more effective in their ability to shield plastic from UV light. The polymeric segment is projected to be the fastest-growing market during the forecast period of 2021-2026.

_{On the basis of the Application:}

•  Construction
• Agriculture Films
• Packaging
• Automotive

The construction sector uses a huge amount of plastic in the form of moisture, vapor, and safety barriers. These Sheets of plastic are constantly exposed to sunlight during the day and hence these are a large market for HALS. Agriculture uses greenhouses and cool houses to regulate the temperature and humidity to achieve an optimum balance of both. HALS are widely used in these sheets as well. Automobiles are increasingly being fitted with plastic exteriors that need to be durable and need to be resistant to long-term UV exposure.

But most of the consumption of HALS comes from the packaging industry, with the entry of e-commerce websites like Amazon into the retail market, the packaging industry saw enormous growth. Most of this packaging is plastic and it needs to be reinforced with HALS. The packaging market is the largest and is expected to grow with the highest CAGR during the analysis Period.

On the basis of Region:

• North America

• Europe 
• Asia Pacific 
• Latin America 
• The Middle East and Africa 

South America, Asia Pacific, the Middle East, Africa, and Europe. The Asia Pacific with its growing middle class emerged as a major market for HALS. Asia Pacific to grow with the highest CAGR during 2021-2026.

Hindered Amine Light Stabilizers (HALS) Market key players:

Major companies plying their trade in the Hindered Amine Light Stabilizers (HALS) Market include BASF SE (Germany), Clariant AG (Switzerland), and SABO S.p.An (Italy), Cytec Solvay Group (Belgium), ADEKA CORPORATION (Japan), Chitec Technology Co. Ltd. (Taiwan), Everspring Chemical Co. Ltd. (Taiwan), Everlight Chemical Industrial Corporation (Taiwan), SUN SHOW (China) and Addivant (US). BASF SE is the largest chemicals manufacturer by volume as well as by value. It is headquartered in Ludwigshafen, Germany. It was established in 1865 as Badische Anilin und Soda Fabrik. It was headed by Martin Brudermüller who was the CEO as of 2020.