UV Stabilizers Market reached USD 1,123 million in 2021 and is estimated to grow at a CAGR of 5.9% and projected to reach USD 1,776 million in 2029.
The factors driving the growth of UV Stabilizers Market includes increasing demand for wood coatings in the North American region, rising application of UV radiation for packaging food and beverages, pharmaceutical products and cosmetic products, expansion of the construction industry and improvements in the living standards. Moreover, technological advancements in the UV stabilizers, growing awareness amongst consumers about the benefits of UV repellent and UV resistant products, emerging trend of using zinc oxide based nano UV light stabilizers, rise in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the UV Stabilizers Market share. In addition, the increasing investments by major corporations on research and development, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.
However, growth of the UV Stabilizers Market is hindered due to variations in the prices of raw materials.
The leading players operating in the market are Everlight Chemical Industrial Co., Valtris Specialty Chemicals, ADEKA CORPORATION, KNV Chemicals Inc., Ampacet Corporation, Phoenix Plastics, Lycus Ltd. LLC., Addivant, Chitec Technology Co., Ltd., and ALTANA, among others.
Based on Type, the Hindered Amine Light Stabilizers segment is predicted to capture the largest market share during the forecast period
Rising concerns related to global warming and negative effects of UV radiation, is pushing the demand for hindered amine light stabilizers.
Based on Application, the Packaging segment is projected to expand at a remarkable CAGR over the forecast period
Increasing use of UV stabilizers for packaging food and beverages and pharmaceutical products, is propelling growth of the segment.
Based on Region, the Asia-Pacific region is anticipated to hold the highest market share during the forecast period
Increasing application of UV stabilizers across Packaging, Pharmaceutical and Construction industries, rising demand for wood coatings, rapid urbanization, Government policies promoting the manufacturing of automobiles and high population growth rates, are some of the important factors augmenting the market growth in the Asia-Pacific region.
- In 2019, Valtris Speciality chemicals, extended their production capacity of benzyl derivatives., which helped them in manufacturing more UV stabilizers.
Segmentation by Type
- UV Absorber
- Hindered Amine Light Stabilizers
Segmentation by Application
- Agricultural Films
- Building and Construction
- Adhesives & Sealants
Segmentation by Region
- Asia Pacific
- Rest of APAC
- North America
- United States of America
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
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