Pune, India, Nov. 29, 2023 (GLOBE NEWSWIRE) — The global UV stabilizers market size was USD 1.42 billion in 2022 and is set to surge from USD 1.49 billion in 2023 to USD 2.16 billion by 2030, exhibiting a CAGR of 5.5% over the study period.
UV stabilizers are deployed in an extensive range of applications such as textiles, coatings, and plastics. The products are vital for outdoor use, where sunlight exposure can result in material degradation over time.
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List of Key Players Mentioned in the UV Stabilizers Market Report:
BASF SE (Germany)Clariant AG (Switzerland)Songwon (South Korea)Solvay (Belgium)Suqian Unitech Corp Ltd. (China)Everlight Chemical Industrial Corp (Taiwan)SABO S.p.A. (Italy)Lycus Ltd., LLC (U.S.)Sarex (India)Jiangsu Chemk Co., Ltd. (CHEMK) (China)
Report Scope & Segmentation:
Attributes Details Forecast Period 2023-2030 Forecast CAGR 5.5 % 2030 Value Projection USD 2.16 billion Market Size in 2023 USD 1.49 billion Historical Data 2019-2021 No. of Pages 280 Report Coverage Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends Segments Covered By Resin TypeBy TechnologyBy End – Use Regions Covered North AmericaEuropeAsia PacificLatin AmericaMiddle East and Africa UV Stabilizers Market Growth Drivers These stabilizers are essential in protecting building materials such as plastics, coatings, and polymers from the detrimental effects of UV radiation.
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Segmentation:
HALS Segment Led the Market in 2022 Due to Wide Usage in Building Materials
On the basis of type, the market is segmented into quenchers, UV absorbers, HALS (hindered amine light stabilizers), and others. The Hindered Amine Light Stabilizers (HALS) segment registered a leading market share in 2022. This was on account of the extensive deployment of the product in a range of applications. These include building materials, outdoor furniture, and coatings for aerospace and automotive components.
Packaging Segment to Dominate Driven by Surging Demand for Sustainable Packaging Solutions
Based on the end-use industry, the market is subdivided into automotive, packaging, agriculture, adhesives & sealants, building & construction, and others. The packaging segment is set to hold a prominent share of the market. This is credited to the growing demand for sustainable packaging solutions. The stabilizers are vital in the production of high-quality packaging materials.
Based on geography, the market for UV stabilizers has been analyzed across North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
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Report Coverage:
The UV stabilizers market research report provides an analysis of the pivotal trends in the market. It further gives an insight into the key factors driving industry expansion over the coming years. The report also delves into the vital steps undertaken by major market players in gaining a strong industry foothold.
Drivers and Restraints:
Market Size to Surge with Escalating Product Demand from Building & Construction Sector
One of the key factors impelling UV stabilizers market growth is the surging product demand in protecting building materials such as polymers, coatings, and plastics in the construction sector. The stabilizers find application in enhancing product longevity and durability.
However, concerns associated with bioaccumulation may hamper industry expansion.
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Detailed Table of Contents:
Introduction Research ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket Dynamics Market DriversMarket RestraintsMarket OpportunitiesKey Insights Key Emerging Trends – For Major RegionsKey Developments: Mergers, Acquisition, Partnership, etc.Latest Technological AdvanHydroxideInsights on Regulatory ScenarioPorters Five Forces AnalysisQualitative Insights on Impact of COVID-19 on Global UV Stabilizers Market Supply Chain Analysis & Challenges due to Covid-19Steps taken by Government / Companies to Overcome this ImpactPotential Challenges and Opportunities due to COVID-19 Outbreak
TOC Continued…!
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Regional Insights:
Asia Pacific to Hold Major Share Impelled by Rising Product Usage in the Industrial Sector
Asia Pacific UV stabilizers market share is set to hold a leading position in the market. This is due to the extensive product deployment in the commercial and industrial sectors. The regional growth is further being impelled by the expansion of numerous end-use industries such as construction, automotive, and packaging.
North America is slated to record a considerable rise over the study period. The growth can be attributed to the soaring availability of the product for use in boats, cars, and furniture.
Competitive Landscape:
Pivotal Players Focus on Investment Initiatives to Strengthen Product Portfolio
Leading industry players in the UV stabilizers industry are centered on investing in expanding their production capacities. Several companies are also focused on research initiatives. These steps are being undertaken to strengthen their product portfolio.
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Key Industry Development:
June 2022 – UniteChem Group announced key investments in local customer support and global production capacity. The group’s expanding portfolio would be on display during the Dusseldorf-based K 2022.
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