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%. UV stabilizers are additives used in the production of plastics, coating, textiles and other materials to protect them from harmful UV radiations caused by the sun. These materials are often used in outdoor applications where they are exposed to sunlight for a longer duration of time, including construction, automotive and agricultural films.
Browse 326 market data Tables and 50 Figures spread through 266 Pages and in-depth TOC on "UV Stabilizers Market by Type (HALS, UV Absorbers, Quenchers), Application (Packaging, Automotive, Agricultural films, Building & Construction, Adhesives & Sealants), & Region (Asia Pacific, North America, Europe) - Global Forecast to 2028"
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UV Stabilizers Companies
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). The UV stabilizers market is witnessing growth in the past few years; new technologies drive the growth of this market. Market players are introducing new technologies and features to acquire larger market shares.
BASF SE is among the largest chemicals-producing companies across the globe. The company operates through seven business segments: chemical, materials, industrial solutions, surface technologies, nutrition & care, agricultural solutions and others. BASF SE offers UV stabilizers under the performance chemicals division, a subcategory of the industrial solutions segment. The company has customers in over 190 countries and supplies to various end-use industries such as chemicals, plastics, consumer goods, energy and resources, and automotive and transportation. The company has subsidiaries in 80 countries and joint ventures with 30 companies and operates 390 production sites in continents such as North America, Europe, South Africa, Africa, and the Middle East.
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Evonik Industries AG, is a German multinational specialty chemicals company headquartered in Essen, Germany. Evonik operates in a variety of industries including chemical, energy, nutrition, and health. The company operates through five business segments: smart materials, specialty additives, nutrition & care, performance materials, and technology & infrastructure. Evonik manages its UV stabilizers manufacturing and commercialization processes under the specialty additives segment. The company produces key raw materials used in the synthesis of UV stabilizers. It also deals with the manufacturing of UV stabilizers used in coatings, packaging, and adhesives. Evonik has established production facilities in 26 countries worldwide and holds a strong market position in more than 100 countries worldwide.
HALS is projected to register the highest CAGR, in terms of value, of the global UV stabilizers during the forecast period.
HALS is projected to register the highest CAGR in terms of both value and volume, during the forecast period. Due to their excellent thermal stability and low volatility, which allow them to survive high temperatures and maintain their effectiveness for longer periods of time, HALS UV stabilizers are favoured in automotive applications. They function by scavenging free radicals produced as a result of UV exposure, which helps stop the material from deteriorating. The use of HALS UV stabilizers can help extend the lifespan of car components as well as maintain their appearance and performance over time.
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Automotive is estimated to be the second-largest application of the UV stabilizers, in terms of value, during the forecast period.
The automotive segment is estimated to be the second-largest application of the UV stabilizers market during the forecast period. UV stabilizers have become a popular choice for automotive due to their effectiveness in protecting automotive coatings and plastics from UV radiation damage, which can help improve the longevity and durability of automotive components. The global automotive industry is also influenced by various trends such as the shift towards electric and hybrid vehicles, increasing demand for connectivity and autonomous driving features, and the growing popularity of shared mobility services. All these factors drive the demand for UV stabilizers in automotive application.
UV Stabilizers Global Market Report 2021 by The Business Research Company is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact – both negative and positive – of COVID-19 on the UV stabilizers industry gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
This includes revised market numbers according to the effects of the coronavirus and the expected UV stabilizers market growth numbers 2021-2030.
View Complete Report:https://www.thebusinessresearchcompany.com/report/uv-stabilizers-global-market-reportThe UV Stabilizers Global Market Report 2020-30 by The Business Research Company provides an in-depth analysis of the global UV stabilizers market and covers both the historic period, 2015 to 2020, and the forecast period, 2020 to 2030.
The report evaluates the market and major economies across the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.The UV Stabilizers Global Market Report 2021 covers UV stabilizers market drivers, UV stabilizers market trends, UV stabilizers market growth rate, UV stabilizers market major players, player-adopted strategies in the market, and UV stabilizers market size.The global UV stabilizers market is expected to grow from $1.27 billion in 2020 to $1.35 billion in 2021 at a compound annual growth rate (CAGR) of 6.2%.
The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
