Pune, India -- (SBWIRE) -- 05/22/2018 -- Based on Geography, the Plastic Stabilizer Market is divided into five key regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among the mentioned regions, Asia Pacific market has acquired more than one-third of the market share in terms of value and volume, and is expected to grow at a CAGR of 5.11% to reach USD 3.50 billion till 2023.

Asia Pacific Plastic Stabilizer Market is consists of China, Japan, India, South Korea, Australia, New Zealand and other Asia Pacific countries. As compared to the other countries in this region, China dominates the market over other countries in the region. China's market is projected to grow at the highest CAGR, during the forecast period. Some of the prominent factors attributed to the market growth in China are huge end use industry penetration in the region along with the expanding production facility to meet growing demand for packaging, building & construction, automotive, consumer goods, agriculture, electrical & electronics, and other industry. India and Japan trail behind the China, in terms of consumption demand for Plastic Stabilizers. Japan accounted for the second largest market in terms of value in Asia Pacific region. The demand for Plastic Stabilizers in Japan is predominantly based on increasing demand from packaging and automotive industry. In terms of production, India is expected to lead the market by surpassing China during the forecast period due to the growing population and employment generation in coming years.

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Asia Pacific market is followed by Europe and North America. North America accounted the second largest share in the Global Plastic Stabilizer Market. In terms of value, the regional market is estimated to reach USD 2,092.8 million by the end of 2023 growing at a considerable CAGR. The U.S. accounted for the largest market share in North America and is expected to grow at the highest CAGR among the other countries in this region, during the forecast period. Europe is also an important region in the Global Plastic Stabilizer Market, holding 23% share of the market. Germany is the largest market in Europe for plastic stabilizers.

Moreover, Asia Pacific market will witness growth above average throughout the forecast period owing to strong growth in food and pharmaceuticals industry in this region.

Key Players

The key players of Plastic Stabilizer Market Report includes DSM (the Netherlands), BASF SE (Germany), Oxiris Chemicals S. A. (Spain), Sumitomo Chemical Company (Japan), Chitec Technology Co., Ltd. (Taiwan), Mayzo Inc. (Georgia), Addivant (U.S.) Double Bond Chemical Ind., Co., Ltd. (Taiwan), Kumho Petrochemical Co., Ltd. (South Korea), Emerald Performance Materials LLC (U.S.), and others.

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