Epoxy Type Stabilizer Market size is poised to cross USD 748 Million by the end of 2033, growing at a CAGR of 4% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of epoxy type stabilizer was over USD 534 Million. The growth of the market can be attributed to its use in a wide range of coating and adhesive applications owing to its versatility, including wood, concrete, PVC, metals, and glass. Along with these, their ability to improve material strength, thermal stability, and corrosion resistance is also expected to drive market growth in the coming years. Urbanization increases per capita income while attracting more people to cities. As a result of this combined effect, industrial demand for building & construction, food & beverages, automobiles, and others gradually increases. Therefore, industrialization and urbanization around the world and the emphasis of market players on expanding their product portfolios are projected to offer ample growth opportunities to the market in the near future. According to the United Nations Organization, as of May 2018, about 55% of the global population lives in urban areas, and is anticipated to increase to about 68% by 2050.
Stabilizers are important in improving the appearance and physical properties of polymer materials. However, with the growing demand for better stabilizers from a variety of industries, consumers’ attention has shifted to epoxy type stabilizers. Epoxy type stabilizers are advanced stabilizers with exceptional adhesiveness given the presence of an epoxy group. Epoxy is a polymer, which is a class of chemical compounds composed of large molecules with repeating subunits. Stabilizing resins, such as epoxy resins (molecular formula: C21H25ClO5) are composed of epoxy groups of molecules that harden (or cure) through chemical reactions caused by combining them with other substances or heating them to a high temperature. According to the data published in the ITC Trade Map, the global value of the export of epoxy resin was USD 88,93,926 Thousand in 2021, up from USD 59,27,070 Thousand in 2020.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
4% |
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Base Year Market Size (2022) |
USD 534 Million |
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Forecast Year Market Size (2033) |
USD 748 Million |
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Regional Scope |
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The global epoxy type stabilizer market is segmented and analyzed for demand and supply by application into adhesives & sealants, paints & coatings, and composites. Out of these, the paints & coatings segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing building & construction industry worldwide. For instance, as per the data published by the United States Census Bureau (USCB), privately-owned housing units numbered 1,695,000 in May 2022, up from 1,691,000 units in May 2021 with a 0.2% increase globally. Furthermore, there were 592,000 structures with 5 or more units as of May 2022 globally. On the other hand, paints and coatings are majorly used in architectural and industrial end-use applications, which is also expected to boost the growth of the segment in the coming years.
The global epoxy type stabilizer market is also segmented and analyzed for demand and supply by end-user into electrical & electronics, marine, renewable energy & power generation, packaging, food & beverages, building & construction, automotive & transportation, and others. Amongst these segments, the building & construction segment is expected to garner a significant share. The increasing construction and building sector are estimated to drive market growth in the coming years as per the market analysis. The value of the construction sector in the U.S. in the year 2021 was estimated to be over USD 1 trillion. Epoxy resin is used in the construction and building industry as an adhesive or coating material. The epoxy resin provides strength owing to its polymeric structure, withstand high temperatures, compatibility, and fast curing time. Water-based epoxy paint is used in the construction sector to provide a fast-protective coating to tiles, or floors. Combining epoxy with quartz and tiles provides a high performance and stable flooring. It is also applied on walls and roofs to get a high glossy look with durability. As epoxy coating gives resistance against chemical, heat, and mechanical damage with highly electric resistance it is used in the construction industry.
Our in-depth analysis of the global epoxy type stabilizer market includes the following segments:
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By Product Type |
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By Application |
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By End-User |
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North America Market Forecast
The North American epoxy type stabilizer market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed to the rapid growth in industrialization and the rising demand for stabilizing chemicals in end-use industries including automotive & transportation, building & construction, consumer goods, and others. Urbanization is associated with a higher standard of living and therefore, people in countries such as the United States and Canada are becoming increasingly interested in improving the appearance of their homes as a result of their changing lifestyles and rising economic expansion. According to the World Bank, the United States' annual GDP growth rate was expected to be 5.7 percent in 2021, up from 2.3 percent in 2019. To improve the aesthetics and prevent the degradation of wood, concrete, composite, and plastic products—epoxy resins, coatings, paints, and stabilizers are used. This, in turn, is driving the epoxy type stabilizer market growth in the region.
Asia Pacific Market Forecast
On the other hand, the market in the Asia Pacific is expected to grow at the highest CAGR over the forecast period. The growth of the market in the region can be attributed to the growing demand for packaging materials in end-user industries where these stabilizers are used massively, and the growing packaging industry in the region, backed by rising trade of products and increasing e-commerce services. For instance, according to the statistics by the Indian Brand Equity Foundation (IBEF), the packaging industry in India was expected to reach USD 204.81 billion by 2050 from USD 50.5 billion in 2019.
Tinuvin, a light stabilizer product by BASF SE, has been taken up by a Japanese company, Suiko Co., Ltd. The product has been utilized to make rotationally-molded low-density polyethylene (LDPE) slides for playgrounds that provide UV stabilization and ensure that the slides will remain bright and colorful for years to come.
Evonik Industries AG introduced SURFYNOL104 Z, a low VOC version of SURFYNOL 104. Some of the key benefits associated with this new additive include low water sensitivity, better foam control, and pigment and substrate wetting.
Author Credits: Smruti Ranjan, Rajrani Baghel
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