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The ultraviolet (UV) stabilizers market size is forecast to increase by USD 431.81 million, at a CAGR of 6.81% between 2023 and 2028. The growth rate of the market depends on several factors, including the rising demand in the polymer industry, the increasing awareness about the harmful effects of UV light on plastics, and the growing demand from plastics, coatings, and construction industries.
Increasing awareness about the harmful effects of UV light on plastics is the key factor driving market growth. The light consists of three components: infrared spectrum, visible spectrum, and UV spectrum. The UV spectrum is electromagnetic radiation that has a wavelength smaller than the visible spectrum but longer than soft X-rays. UV light has several effects on the surroundings, including biological and chemical effects. UV light affects the polymer materials causing cracking, chalking, color change, and loss of physical properties to the product. UV and other light sources, such as fluorescent lighting, have a damaging effect on polymer properties.
Moreover, plastic products exposed to direct or indirect sunlight suffer surface chalking as the polymer becomes oxidized and loses physical properties. The UV light also accelerates the fading of plastic colorants. Thus, the polymer materials tend to lose their physical property and appear dull. Therefore, the demand for UV stabilizers is increasing to prolong the life of these polymer materials. Thus, such factors will drive market growth during the forecast period.
Raising demand from emerging economies is the primary trend shaping market growth. The global ultraviolet stabilizers market will be driven by macroeconomic factors such as high-income levels and rising GDP, particularly in emerging economies such as China, India, South Africa, Brazil, and the UAE. Infrastructural growth, the growing furniture industry, and an abundant supply of raw materials in these countries will promote the development of industries such as construction, automotive, and packaging, which, in turn, will increase the demand for UV stabilizers.
Moreover, the flooring and decking, construction, and furniture industries have high requirements for UV stabilizers to maintain the color, texture, and appearance and account for large volume consumption of UV stabilizers. Hence, such factors will drive the growth of the market during the forecast period.
Fluctuating cost of raw materials for UV stabilizers is a significant challenge that affects market growth. Screening pigments (carbon black, calcium carbonate, and titanium dioxide), benzophenones, nickel stabilizers, hindered amines, and polymeric stabilizers are the prominently used raw materials in UV stabilizer products. A polymer is one of the crucial parts of a UV stabilizer. However, the polymer market is highly volatile. Various factors, such as crude oil price, ethylene and propylene prices, polymerization margins, volatility in exchange rates, and styrene prices, affect the final price of the product, as polymers are major price indicators for UV stabilizers.
Moreover, factors such as new suppliers, political changes, and financial speculations are also major reasons for the volatility of raw material prices. The price of polymers such as PE, PP, and PS is highly dependent on the above-mentioned factors. Such factors ultimately hamper the prices of UV stabilizers and restrict the growth of the global market in focus during the forecast period.
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The market share growth by the HALS segment will be significant during the forecast years. HALSs are the most effective type of UV stabilizers. These are colorless, highly efficient at low concentrations, and can be used in synergetic blends. Often, HALSs are combined with UV absorbers for the ideal protection of coatings and plastics. However, the ratio of UV absorbers and HALSs depends on the concentration of pigments (acting as UV absorbers), which are used in paints and coatings. Usually, clear coatings require a high amount of UV absorbers, and opaque pigment coatings require high amounts of HALSs.
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The HALS segment accounted for USD 661.72 million in 2018. HALS is extremely effective for the light stabilization of polyolefin (consisting of polyethylene (PE), polypropylene (PP), thermoplastic olefin, thermoplastic elastomer, polystyrene (PS), polyamide, polyurethane, and polyacetal) coatings, adhesives, and sealants. HALS stabilizes the thermal oxidation of polymers. HALS limits the photodegradation process by trapping free radicals formed during the photooxidation of plastic materials. These factors under the HALs segment will drive the growth of the ultraviolet (UV) stabilizers market during the forecast period.
The flooring and decking segment will account for the largest share of this segment.?One of the main reasons for the increase in the use of UV stabilizers for floor and decking has to do with the growing popularity of outdoor living spaces among consumers. With a growing desire to create functional and attractive outdoor living spaces, decking and patios have become increasingly popular. Further, UV stabilizers are crucial in flooring and decking applications and are used to protect the product from premature aging and weathering. The revenue from flooring and decking is associated with the construction industry. The development of the construction industry has vital importance to the demand for UV stabilizers. Thus, such factors under the flooring and decking segment will drive the growth of the UV stabilizers market during the forecast period.
The Ultraviolet Stabilizers Market plays a crucial role in enhancing the durability and performance of various polymer-based materials. As essential polymer additives, ultraviolet stabilizers provide critical UV protection to products in the plastic industry, safeguarding them against weather resistance and photostability.
These light stabilizers mitigate polymer degradation caused by UV radiation, ensuring the long-term integrity of materials. They are indispensable in a wide range of polymer applications, from packaging and construction to automotive and consumer goods.
In the chemical industry, ultraviolet stabilizers serve as vital stabilization agents, enhancing polymer performance and contributing to overall UV resistance. Advancements in additive technology have led to the development of innovative solutions that address evolving industry needs, making significant strides in material science and polymer chemistry.
With increasing demand for durable and high-quality polymer materials, the Ultraviolet Stabilizers Market continues to witness steady growth and innovation.
APAC is estimated to contribute 58% to the growth of the global market during the projection period.
Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the projection period.
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In 2023, the APAC region took the lead in the global ultraviolet stabilizers market, fueled by surging demand across the construction, automotive coatings, textiles, and furniture industries. Robust growth in sectors like cosmetics and coatings, along with competitive production costs and a thriving economic landscape, propels the growth of the UV market in APAC. Key contributors to this growth include China, Japan, and India, with China experiencing exceptional market growth, especially in response to increased construction activities. The escalating construction needs in China and India, particularly in healthcare, education, and social infrastructure, are expected to drive the demand for UV stabilizers. Additionally, China's growing packaging industry, driven by technological innovations and research and development in food packaging, is anticipated to contribute to increased demand for UV stabilizers during the forecast period.
Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches to enhance their presence in the market.
The report also includes detailed analyses of the competitive landscape of the market research and growth and information about 15 market companies, including:
Addivant, Akzo Nobel NV, Ampacet Corp., BASF SE, Clariant International Ltd., Everlight Chemical Industrial Co, Everspring Chemical Co. Ltd., Evonik Industries AG, Jiangsu Chemk Co. ltd., Lanxess AG, Lycus Ltd. LLC, Mayzo Inc., Sabo Spa, Sarex, SI Group Inc., Solvay SA, Songwon Industrial Co. Ltd., Suqian Unitech Corp Ltd, and Valtris Specialty Chemicals
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report predicts market growth by revenue at global, regional & country levels and provides an analysis of the latest market growth and trends opportunities from 2018-2028.
Ultraviolet Stabilizers Market Scope |
|
Report Coverage |
Details |
Page number |
176 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.81% |
Market Growth 2024-2028 |
USD 431.81 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.98 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 58% |
Key countries |
US, China, South Korea, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Addivant, ADEKA Corp., Akzo Nobel NV, Ampacet Corp., BASF SE, Clariant International Ltd., Everlight Chemical Industrial Co, Everspring Chemical Co. Ltd., Evonik Industries AG, Jiangsu Chemk Co. ltd., Lanxess AG, Lycus Ltd. LLC, Mayzo Inc., Sabo Spa, Sarex, SI Group Inc., Solvay SA, Songwon Industrial Co. Ltd., Suqian Unitech Corp Ltd, and Valtris Specialty Chemicals |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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