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Global UV Stabilizers Market size is predicted to reach $2.24 billion by 2030, growing at a CAGR of 6.4 % during the forecast period 2023-2030 according to the latest market research report published by IndustryARC. Escalating Construction Sectoris poised to propel the market growth, finds IndustryARC in its recent report, titled “UV Stabilizers Market – By Type (Hindered Amine Light Stabilizers, UV Absorbers, Quenchers), By Application (Coatings, Adhesives and Sealants, Plastics, Others), By End-Use Industry (Architectural, Agriculture, Automotive, Furniture, Packaging, Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2023-2030”
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Asia Pacific to Register Highest Growth:
In 2023, the Asia Pacific region is forecasted to achieve a notable Compound Annual Growth Rate (CAGR) in the global UV stabilizers market. This growth is significantly propelled by China’s expanding packaging sector, driven by technological advancements and extensive research in food packaging solutions. As urbanization accelerates in China, the demand for processed and packaged foods has surged due to the limited agricultural resources in urban areas. This trend has amplified the need for safer and cleaner packaging materials, thereby boosting the market for UV stabilizers to meet the heightened requirements for food safety and preservation.
UV Stabilizers Market 2023-2030: Scope of the Report
|
Report Metric |
Details |
|
Base Year Considered |
2023 |
|
Forecast Period |
2023–2030 |
|
CAGR |
6.4% |
|
Market Size in 2030 |
$2.24 billion |
|
Segments Covered |
By Type, By Application, By End-Use Industry and By Region |
|
Geographies Covered |
North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa). |
|
Key Market Players |
1. BASF 2. AkzonNobel 3. BYK Additives 4. Valtris Specialty Chemical 5. Clariant 6. Cytec Solvay Group 7. Mayzo 8. Lyucs Ltd. 9. Songwon Industries corporation 10. Everylight Chemical industrial corporation |
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UV Stabilizers Market Report – Key Takeaways:
In 2023, the hindered amine light stabilizers (HALS) segment dominated the UV stabilizer market due to its exceptional efficiency in inhibiting polymer degradation. Unlike other stabilizers, HALS do not absorb UV radiation; instead, they inhibit polymer degradation through a cyclic regeneration process, which enhances their efficiency and longevity. This unique mechanism allows significant stabilization at relatively low concentrations, making HALS highly desirable in various end-use industries, especially for stabilizing polymers and polyolefins. Consequently, the demand for HALS is projected to rise during the forecast period, driven by their superior performance and cost-effectiveness.
UV stabilizers are essential in the packaging industry, maintaining the integrity and visual appeal of materials like plastics during storage and transit. The demand for UV-resistant packaging, especially in the food and beverage sector, is rising to preserve product quality and extend shelf life. Manufacturers are developing specialized UV stabilizers tailored to specific packaging requirements to keep pace with these evolving needs. Conversely, the automotive sector is experiencing rapid growth in the use of UV stabilizers. These additives protect various vehicle components, such as interior materials and coatings, from UV radiation. The automotive industry’s increasing use of plastics in design is driving demand for UV stabilizers, as they help maintain the appearance and durability of automotive parts exposed to sunlight. This trend underscores the automotive industry’s significant role in advancing the UV stabilizers market.
The flooring and decking segment is poised to capture the largest share of the market. The surge in UV stabilizer usage for flooring and decking is primarily attributed to the rising trend of outdoor living spaces among consumers. As the demand for functional and appealing outdoor areas grows, decking and patios have gained significant popularity. Additionally, UV stabilizers play a critical role in protecting flooring and decking materials from premature aging and weathering. Revenue generated from flooring and decking is closely linked to the construction industry, making its development crucial for UV stabilizer demand. Consequently, these factors within the flooring and decking segment are expected to propel the growth of the UV stabilizers market in the forecast period.
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Key Opportunity Analysis:
Adoption of UV Stabilizers in Consumer Electronics
The consumer electronics industry is another area with significant growth potential for UV stabilizers. Many electronic devices, such as smartphones, tablets, and outdoor electronic displays, require protection from UV radiation to prevent degradation of their plastic components and maintain their aesthetic appeal. As the consumer electronics market continues to expand and innovate, the incorporation of UV stabilizers in these products will likely increase.
Growth in Outdoor Furniture and Recreational Products
The market for outdoor furniture and recreational products such as playground equipment, sports gear, and camping accessories is expanding. These products are typically exposed to prolonged sunlight and require UV stabilizers to maintain their appearance and structural integrity. As consumer demand for high-quality, durable outdoor products increases, so does the opportunity for UV stabilizers in this market.
Rising Demand in Agricultural Applications
The agriculture industry presents a notable opportunity for UV stabilizers, particularly in the protection of plastic films and sheets used in greenhouses, mulch films, and silage wraps. These materials are exposed to constant sunlight and require UV stabilizers to maintain their integrity and prolong their lifespan. As agricultural practices modernize and expand, the demand for UV-stabilized products is expected to rise.
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The report also covers the following areas:
UV Stabilizers Market 2023-2030: Key Highlights
Covid and Ukrainian Crisis Impact:
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List of Key Market Players in the UV Stabilizers Market:
The Global UV Stabilizers Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:
Related Reports:
UV Absorbers Market – Plastics such as polyvinyl chloride and polycarbonate tend to degrade when exposed to UV radiation. UV radiations initiate chemical reactions in plastics that result in the breakdown and loss of chemical and physical properties of plastics, thereby prompting the need for UV absorbers.
UV Stabilizers for Polyurethanes Market –The growing automotive sector is helping in the growth UV Stabilizers for polyurethanes Market due to its usage in hybrid and electric vehicles, lightweight automotive parts by providing protection, comfort, and energy conservation.
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