Epoxy Type Stabilizer Market - Regional Analysis
North America Market Insights
North America industry is expected to account for largest revenue share by 2035. 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 Insights
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.
