Heat Stabilizers Market to be worth 4.57 Billion US$ by 2022
The global heat stabilizers market is estimated at US$ 3.77 Billion in 2017 and projected to reach US$ 4.57 Billion by 2022, at a CAGR of 4.0% from 2017 to 2022. The growth of the global heat stabilizers market is mainly driven by the increasing demand for organic-based products. Organic-based heat stabilizers exhibit enhanced functionality as compared to metal carboxylates and result in low VOC emissions.
The liquid mixed metals segment to grow at the highest CAGR between 2017 and 2022
Based on type, the global heat stabilizers market has been segmented into metal soaps and organotin. The liquid mixed metals subsegment, falling under the metal soaps segment, is projected to grow at the highest CAGR during the forecast period. This expected high growth rate is due to the increasing need for highly-efficient and cost-effective heat stabilizers having superior properties as compared to heavy metal-based heat stabilizers.
The wires & cables application segment to grow at the highest CAGR during the forecast period
Based on application, the wires & cables segment is projected to grow at the highest CAGR between 2017 and 2022. The increasing demand for durability, moisture-resistance, long-term color fastness and stability, and exceptional heat resistance is fueling the growth of the wires & cables application segment globally.
APAC to be the fastest-growing market for heat stabilizers during the forecast period
The heat stabilizers market in the APAC is projected to grow at the highest CAGR between 2017 and 2022. This growth is mainly attributed to the growth of construction, automotive, and medical industries; significant R&D investments; and drive to use less toxic products in the APAC countries, such as India, South Korea, and China. Europe accounted for the largest share of the global heat stabilizers market in 2016, and is expected to continue to lead during the forecast period. This is due to the early product commercialisation, intensive R&D, and rapid adoption of environment-friendly heat stabilizers by general consumers in this region.