In terms of value, the UV stabilizers market is estimated to grow from USD 1.3 billion in 2022 to USD 1.8 billion by 2028, at a CAGR of 5.7%. The growth of the automotive, packaging and building & construction industries is also driving the demand for UV stabilizers. The construction industry is experiencing growth globally, driven by a variety of factors such as population growth, urbanization, and economic development. In many regions, there is a growing demand for new infrastructure projects such as roads, bridges, airports, and public transport systems. Additionally, there is a need to upgrade and modernize existing infrastructure to meet changing demands and address issues such as climate change and sustainability. All these factors are boosting the demand for UV stabilizers especially in construction application.
UV absorbers is expected to be the second fastest-growing type of the UV stabilizers market, in terms of value, during the forecast period.
UV absorbers are widely used in industries such as automotive, construction, packaging, and personal care products.Global demand for UV absorbers is rising due to a number of factors, including the expanding use of plastics and polymers in a variety of applications, growing knowledge of the negative effects of UV radiation on human health, and the requirement to safeguard materials against deterioration and discoloration.
UV absorbers are frequently used in a variety of sectors, including the automotive, construction, packaging, and personal care items.They are employed in the automobile sector to shield polymers and coatings from UV radiation degradation.
All these factors boost the market for UV absorbers globally.
Packaging is expected to be the fastest-growing application of the UV stabilizers market, in terms of value, during the forecast period.
With the changing lifestyle and preference for home delivery the demand for safe and hygiene packaging is increasing in food & beverage industry.To preserve and safeguard goods and ensure that they are delivered safely, airtight plastic packaging is a necessary component of modern life.
The expansion of new markets, changes in substrate preferences, and shifting ownership dynamics have all contributed to the constant growth of the global packaging industry over the past 10 years. The increasing demand for personal care products especially in young population is also driving the demand for UV stabilizers in personal care products packaging.
Asia Pacific is projected to be the fastest growing region, in terms of value, during the forecast period in the UV stabilizers market.
Asia Pacific is known for its low cost of labor, easy availability of raw materials, increase in adoption of modern technologies, innovations, and easy availability of inexpensive lands, which makes it the global hub for manufacturing.The increasing production and demand for passenger vehicle especially from India and China makes Asia Pacific an attractive region for automotive manufacturers.
Increase in the production of automotive is due to the presence of key automotive players such as Honda, Toyota, Hyundai, and Nissan.BMW and Volkswagen manufacturers have also expanded their business in this region.
These factors are anticipated to fuel the growth of the UV stabilizers market in the region.
• By Company Type: Tier 1 - 69%, Tier 2 - 23%, and Tier 3 - 8%
• By Designation: C-Level - 23%, Director Level - 37%, and Others - 40%
• By Region: North America - 32%, Europe - 21%, Asia Pacific - 28%, South America and Middle East & Africa - 12%, South America – 7%
The key players profiled in the report include BASF SE (Germany), Evonik Industries AG (Germany), SONGWON Industrial Co. Ltd., (South Korea), Clariant AG (Switzerland), Solvay S.A. (Belgium), Unitechem Group (China), and Everlight Chemical Industrial Corporation (Taiwan).
This report segments the market for UV stabilizers based on type, application, and region and provides estimations of volume (kiloton) and value (USD million) for the overall market size across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, services, key strategies, associated with the market for UV stabilizers.
Reasons to Buy this Report
This research report is focused on various levels of analysis — industry analysis (industry trends), market share analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the UV stabilizers market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on UV stabilizers offered by top players in the global market
• Analysis of key drives: (Increasing demand from packaging industry, growing demand from construction industry and rising demand in Asia Pacific and North America), restraints (fluctuations in raw material prices and high cost of production), opportunities (increasing use of nanocomposites in UV stabilizers and growing agricultural films industry), and challenges (stringent government regulations) influencing the growth of UV stabilizers market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the UV stabilizers market
• Market Development: Comprehensive information about lucrative emerging markets — the report analyzes the markets for UV stabilizers across regions
• Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global UV stabilizers market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the UV stabilizers market