The global market for Hindered Amine Light Stabilizers (HALS) is projected to reach USD 1.15 Billion by 2022, at a CAGR of 7.1% from 2017 to 2022. The growing demand from major application industries such as packaging, automotive, and other industrial applications in emerging economies, are driving the global HALS market.
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New product developments and agreements were the key strategies adopted by industry players to strengthen their positions in the global HALS market, with the North American region witnessing the highest number of strategic initiatives from 2011 to 2016. Expansions was the preferred strategy in this region. Companies such as BASF SE (Germany), SONGWON Industrial Co., Ltd (Korea), Valtris Specialty Chemicals (US), Double Bond Chemical Ind. Co. Ltd. (Taiwan), Eutec Chemical Co., Ltd. (Taiwan), Ziko Co., Ltd. (South Korea), Lycus Ltd., LLC (US), Western Reserve Chemical Corporation (US), MPI Chemie B.V. (Netherlands), Chemsfield Korea Co. Ltd. (Korea), Rianlon Corporation (China), Sovereign Chemical Co. (US), and Lambson Ltd. (UK) were the most active players in the HALS market in the region.
BASF SE (Germany), Clariant AG (Switzerland), Cytec Solvay Group (Belgium), ADEKA CORPORATION (Japan), Chitec Technology Co. Ltd. (Taiwan), SUNSHOW (China), SABO S.p.A (Italy), Mayzo, Inc. (US), Everspring Chemical Co., Ltd. (Taiwan), Everlight Chemical Industrial Corporation (Taiwan), Beijing Tiangang Auxiliary Co., Ltd (China), and Qingdao Jade New Material Technology (China) are profiled in the report. For instance, BASF SE (Germany) launched five high-performance products under its Tinuvin DW (N) product range for water-based systems, and Tinuvin 249 for cost-efficient and durable color proof coatings of HALS products in 2016 and 2017 respectively for applications in automotive interior parts.
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ADEKA CORPORATION (Japan), Chitec Technology Co. Ltd. (Taiwan), SUNSHOW (China), SABO S.p.A (Italy), Mayzo Inc. (US), Everspring Chemical Co. Ltd. (Taiwan), Everlight Chemical Industrial Corporation (Taiwan), Beijing Tiangang Auxiliary Co. (China), and Qingdao Jade New Material Technology (China) are recognized as innovators in the HALS market. They have innovative products and the potential to build strong strategies for business growth to be at par with visionary leaders. For instance, in June 2013, Chitec Technology Co. Ltd. launched two new HALS products, Chiguard 129 for PET, PC, and Nylon and Chiguard 106, a low molecular weight HALS, for various polymers. These enhanced & innovative developments have added to their product portfolio and are expected to help increase the company’s geographical reach.
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