BANGALORE, India, March 11, 2021 /PRNewswire/ -- The UV Stabilizers Market is Segmented by Type (HALS (Hindered Amine), UV Absorber, Quenchers, by Application (Packaging, Automotive, Agriculture, Building & Construction, Adhesives & Sealants, Plastics, Others), by Application (BASF, Songwon Industrial, Clariant AG, Solvay S A, ALTANA, Adeka, Addivant, Valtris Specialty Chemicals, Lycus): Global Opportunity Analysis and Industry Forecast, 2021-2026. This report is published on Valuates Reports in the Chemical Industry.
The global UV Stabilizers market size is projected to reach USD 1443.7 Million by 2026, from USD 1108.7 Million in 2019, at a CAGR of 3.8% during 2021-2026.
Major factors driving the growth of UV stabilizers market size are:
- Growing demand from packaging and automotive application.
- The rising demand for wood and plastic coatings for protection against UV radiations
- The ongoing development of the housing and construction industries in as Asia-Pacific region
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TRENDS INFLUENCING THE UV STABILIZERS MARKET SIZE
The growing preference towards packaged foods is expected to drive the growth of UV stabilizers market size. As food contact materials are often exposed to solar UV light, to avoid degradation, UV stabilizers are applied to the polymer material. To avoid the rapid deterioration of the food packaging material and the foodstuff found inside, UV stabilizers are used. Many UV stabilizers function as UV screens that absorb harmful UV light. They are invisible and safeguard both food and packaging materials. Other UV screens are based on organic substances and act as inhibitors of ultraviolet degradation.
Increasing application of UV stabilizers in the Automotive industry is expected to increase the growth of UV stabilizers market size. Automotive components are constantly exposed to harsh environmental conditions, such as sunlight, heat, and moisture. Such environments require materials that can withstand exposure and sustain high performance. UV light stabilizers prevent microcracks from forming and restrict color fading to preserve the physical and aesthetic properties of automobiles.
Growing construction spending in emerging countries is expected to increase the UV stabilizer market size during the forecast period. Growth in the construction industry has been fostered by ongoing infrastructure development in developing economies like Vietnam, Indonesia, Malaysia, China, India, Russia, and Brazil. In these economies, construction companies opt for low-cost alternative raw materials, such as plastic and wood materials. These materials can be conveniently formed into several forms, resulting in substantial demand for applications for flooring, decking, and fencing. Since these materials get exposed to high sunlight exposure, it leads to corrosion effects. UV stabilizers have been added as a coating substrate to these materials in order to mitigate such effects.
Increasing use of nanocomposites in UV stabilizers is expected to create lucrative growth opportunities for the market players. Nanotechnology plays a key role in the market for UV stabilizers. Nanocomposite materials have the ability to enhance the properties of coating systems by improving the UV stability and scratch-resistance of the coated product. Conventional UVA are organic stabilizers that have a tendency to degrade over the period, making nano-based inorganic UVA an additional advantage of greater long-term protection.
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UV STABILIZERS MARKET SHARE ANALYSIS
Based on type, the HALS (Hindered Amine Light Stabilizers)segment is expected to hold the largest UV stabilizer market share during the forecast period. HALS is used in thin and thick applications due to its ability to protect polymers from degradation under UV light exposure while providing durability and long shelf life. The increasing demand in the automotive, packaging, and furniture & construction industries for non-degradable, durable, and high-performance products has fueled the growth of HALS in the market for UV stabilizers.
Based on application, the packaging segment is expected to hold the largest UV stabilizers market share during the forecast period. UV stabilizers are capable of shielding packages and their contents from the discoloration and adverse effects of UV radiation.
Based on the region, the Asia Pacific region is expected to hold the largest UV stabilizers market share during the forecast period. This dominance of the Asia-Pacific region is attributed to the presence of a large number of UV stabilizer manufacturers, increasing government support, rising foreign investments, and growing demand for HALS and UV Absorbers from plastics, polymers, and automotive industries.
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UV STABILIZERS MARKET SEGMENTATION
Following are the segments covered by the report are:
- HALS (Hindered Amine)
- UV Absorber
- Quenchers.
By Application:
- Packaging
- Automotive
- Agriculture
- Building & Construction
- Adhesives & Sealants
- Plastics
- Others.
The Key manufacturers that are operating in the global UV Stabilizers market are:
- BASF
- Songwon Industrial
- Clariant
- Solvay
- Altana
- Adeka
- Addivant
- Valtris Specialty Chemicals
- Lycus
- Mayzo.
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SIMILAR REPORTS :
-UV Light Stabilizer Market size is projected to reach USD 393.2 Million by 2026, from USD 310.3 Million in 2020, at a CAGR of 4.0% during 2021-2026.
-UV Stabilized Films Market is Segmented by Type Plastic Material, Metals Material, by Application Automobiles, Building & Construction, Agriculture, Others and by various regions.
-UV Additives Market is Segmented by Type Heat Stabilizers, Light Stabilizer, UV Absorber, by Application Anti-oxidation, Heat Resistant and by various regions.
-UV Stabilizers in Plastics Market is Segmented by Type HALS, UV Absorbers, Quenchers, Others, by Application Automotive, Packaging, Agriculture, Building & Construction and by various regions.
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