According to Ceresana Research, authors of the Stabilizers study, the market is set to reach $4.48bn (€3.56bn) by 2018 and will be driven mainly by growth in the Asia Pacific region, which is also the biggest market accounting for approximately 50 per cent of the total value, followed by Europe and North America.
Besides the Asia Pacific market, growth in stabilizers is also being driven by other developing markets, including Latin America, Eastern Europe and the Middle East, where growth rates are reported to be above the market average, at between 3.5 – 4.7 per cent.
Demand particularly driven by growth in China
In particular, demand is being driven by the China market, which is already the third biggest consumer of packaged products in the world. This also ties in with the fact that CAGR growth in the cosmetics and personal care segment has been in double digits over the past five years.
Although the majority of stabilizers are presently used in the construction industry, calcium-zinc stablizers are increasingly making an impact in the category, where this type of stabilizer is used to protect polymer-based packaging, in turn maintaining formulation stability.
Calcium-zinc stabilizers have risen tremendously in popularity in recent years due to the fact that they offer better properties than traditional lead stabilizers. As well as plastic packaging, this type of stabilizer is also used in film packaging, often taking the form of secondary protective packaging for cosmetic products.
Sun protection
Likewise the market for light stabilizers, providing protection against sun damage and other light, is also expected to grow, an area that will also be driven by consumer goods packaging.
Cerasana points to the fact that HALS (Hindered Amine Light Stabilizers) used in packaging products made of polypropylene and polyethylene, are likely to see a significant rise in demand over the next few years.
Different types of stabilizers are added to plastic polymers to achieve different types of stability. In the case of cosmetic and personal care packaging, the stabilizers are used to provide added protection for products, should they be exposed to elements that can compromise the efficacy of the formulation.
As cosmetic and personal care formulation are becoming increasingly complex, due mainly to scientifically advanced active ingredients, this means that the issue of maintaining formulation stability is becoming all the more important.