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Research Nester published a report titled “UV Stabilizers Market : Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global UV stabilizers market in terms of market segmentation by type, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global UV stabilizers market is estimated to grow at a CAGR of ~6.5% over the forecast period, i.e., 2022 – 2031. The market is segmented on the basis of type into UV absorbers, hindered amine light stabilizers (HALS), and others. Out of these, the HALS segment is anticipated to hold the largest share in the market over the forecast period owing to the increasing use of HALS for packaging of food and beverages, backed by the non-toxic nature of HALS. Moreover, lower cost of HALS is further expected to boost the segment growth.
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The global UV stabilizers market is anticipated to witness growth on the back of increasing need for UV rays resistant polymers. Along with this, the growing demand for chemically stable, and stronger plastics in construction and packaging industries, is also estimated to propel the market growth. Moreover, the growing chemical industry across the globe, combined with rising manufacturing of plastics for various end-user industries are anticipated to generate growth opportunities for the market.
On the basis of geographical analysis, the global UV stabilizers market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of growing chemical industry in the region. According to a report by the International Institute for Sustainable Development (IISD), the chemical industry in Asia Pacific region represented around 45% of global chemical manufacturing in 2020. Moreover, the rising demand for UV resistant packaging materials is estimated to promote the market growth.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players' competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Awareness Regarding Harmful Effects of UV Rays to Boost the Market Growth
UV or ultraviolet radiations cause photooxidative degradation in polymers, which reduces the life and strength of the material. UV stabilizers can reduce the effect of UV rays by absorbing or deflecting the radiations. The increasing use of UV stabilizers as additives in polymers is estimated to boost the market growth. Furthermore, the demand for UV resistant furniture and packaging materials in the construction and packaging industries respectively, is anticipated to encourage the market growth.
However, fluctuation in raw material prices expected to operate as key restraint to the growth of global UV stabilizers market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global UV stabilizers market which includes company profiling of SONGWON Industrial Group, Clariant AG, BASF SE, Valtris Specialty Chemicals Inc., Solvay SA, ADEKA Corporation, Evonik Industries AG, SABO S.p.A., Everlight Chemical Industrial Corp and Mayzo, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global UV stabilizers market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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