Widespread Utilization across Plethora of Applications to Attract Expansive Growth for Hindered Amine Light Stabilizers Market during Forecast Period of 2019-2027: TMR

Widespread Utilization across Plethora of Applications to Attract Expansive Growth for Hindered Amine Light Stabilizers Market during Forecast Period of 2019-2027: TMR

PR Newswire

ALBANY, N.Y., Oct. 13, 2020

- The overwhelming demand for hindered amine light stabilizers across a variety of applications such as adhesives, paints, coatings, plastics, and sealants may bring extensive growth opportunities for the hindered amine light stabilizers market

- The global hindered amine light stabilizers market may expand at a CAGR of ~5 percent between 2019 and 2027

ALBANY, N.Y., Oct. 13, 2020 /PRNewswire/ -- The booming industrial and construction sector around the world is proving to be a boon for the growth of the hindered amine light stabilizers market. This will be a prominent factor in influencing the growth prospects during the forecast period. In addition, the consistent urbanization across the globe is also inviting great growth prospects for the hindered amine light stabilizers market.

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According to the analysts at Transparency Market Research (TMR), the global hindered amine light stabilizers market is prognosticated to expand at a CAGR of ~5 percent during the assessment period of 2019-2027. The global hindered amine light stabilizers market was valued at US$ 818.26 mn in 2018.

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Hindered amine light stabilizers are a prime component in manufacturing packaging materials. The intense demand for packaging materials for consumer goods, industrial, food, and beverage packaging products may bring extensive growth opportunities for the hindered amine light stabilizers market.

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Hindered Amine Light Stabilizers Market: From Analysts Lens

The analysts at Transparency Market Research (TMR) predict the hindered amine light stabilizers market to record a promising CAGR mainly due to increasing adoption of architectural and industrial coatings. The analysts further highlight the potential benefits of polymer additives in the medical field as the prime growth generator for the growth of the hindered amine light stabilizers market.

The analysts also hint the emergence of Asia Pacific as the largest growth-contributing region due to growing urbanization and massive market size.

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Hindered Amine Light Stabilizers Market: Major Findings

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Hindered Amine Light Stabilizers Market: Growth Accelerators

Consistent urbanization is a significant factor for the growth of the hindered amine light stabilizers market and may also serve as an influential aspect of growth in the near future.

Hindered Amine Light Stabilizers Market: Regional Prospects

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Global Hindered Amine Light Stabilizers Market : Segmentation

By Type

By Application

By Region

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Tetraacetylethylenediamine [TAED] Market - In terms of value, the global tetraacetylethylenediamine (TAED) market is anticipated to expand at a CAGR of ~3% from 2020 to 2030. The growth of the population and considerable increase in disposable income of consumers, primarily in developing economies, have augmented the demand for efficient detergents. This, in turn, has boosted the demand for TAED across the globe. The rise in penetration of washing machines has positively impacted the demand for laundry detergents. Furthermore, increase in usage of household cleaners, primarily in developing countries, is anticipated to drive the demand for detergents, thereby boosting the demand for TAED that is used in them.

Melamine Market - The major applications of melamine include construction/remodeling, original equipment manufacturer (OEM) and automotive production. The industry is greatly influenced by general economic condition of individual country. The global melamine market is projected to grow at a CAGR of more than 4% between 2019 and 2027 and likely to cross US$ 2.8 Bn by 2027. Major demand from laminates used in furniture, kitchen counter tops, cabinets, floors, etc. are anticipated to drive the market. Melamine is a white crystalline powder with 99.8% purity and is commonly used in the production of melamine-formaldehyde (MF) resins. Melamine-based resins are moisture-resistant and hard. Rapid urbanization, increase in disposable income, and rise in standard of living are key factors contributing to robust growth of the building and construction industry. This serves as one of the key drivers for the melamine market.

Flexible Melamine Foam Market - Flexible melamine foam is a soft thermosetting material made from melamine resin, which is produced by polymerization of melamine and formaldehyde. Commercially, foam is classified into two types: comfort foam and technical foam. Comfort foam is used in upholstered furniture and mattresses, while technical foam is a special material used in high-end applications. Melamine foam is categorized under technical foam due to its superior characteristics such as flame resistance, high temperature resistance, abrasive, thermal insulation, lightweight, and soundproof. A thermoset plastic is a synthetic material that becomes stronger when heated; it cannot be remolded post initial heating. Polymers in a thermoset plastic are cross-linked together, which prevents the product from re-melting when subjected to heat. This material is completely opposite to that of thermoplastic, which softens on heating. Flexible melamine foam market is primarily classified into low foaming and medium foaming.

Diethanolamine (DEA) Market - The global Diethanolamine (DEA) market has been segmented based on chemical reactions used, end-use application, and geography. In terms of chemical reactions used, the diethanolamine DEA market is segmented into catalytic hydrogenation, chloroethanol ammonia method, and ethylene oxide ammonia method. Based on end-use applications, the DEA market is divided into detergents, herbicides, textile finishing, and personal care products. In terms of geography, the DEA market is segmented into North America, South America, Europe, Asia Pacific and Middle East & Africa. The DEA market in North America is a rapidly growing. Asia Pacific is also expanding at a considerable pace, after North America. China is the largest manufacturer and consumer of DEA in Asia Pacific.

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