The global UV stabilizers market is projected to reach USD 1.51 Billion by 2021, at a CAGR of 6.7% from 2016 to 2021.
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The report "UV Stabilizers Market by Type (HALS, UV Absorbers, and Quenchers), Application (Automotive, Packaging, Agriculture, Building & Construction, Adhesives & Sealants), Region (Asia-Pacific, North America, Europe, and RoW) - Global Forecast to 2021",
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UV stabilizers find application in packaging and automotive industries, and are used with HALS and UV absorbers. The increasing demand for UV stabilizers from these industries has promoted the usage of UV stabilizers.
The rise in demand for greenhouse films is expected to drive the UV stabilizers market during the forecast period.
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Based on type, the HALS segment is expected to lead the UV stabilizers market during the forecast period
Based on type, the HALS (Hindered Amine Light Stabilizers) segment is expected to lead the UV stabilizers market during the forecast period, owing to their ability to protect polymers from degradation from UV light exposure while providing durability and long shelf life. HALS are used in thin and thick cross-section applications such as extrusion, blow molding, fibers, films, tapes, and injection molding, among others.
The increasing demand for non-degradable, durable, and high-performance products in automotive, packaging, and furniture & construction industries has fueled the growth of the global UV stabilizers market for HALS.
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The packaging application segment is expected to lead the UV stabilizers market during the forecast period
The packaging is the largest application segment of the UV stabilizers market, owing to the increasing demand for packaging from food and non-food industries in Asia-Pacific, North America, and Europe regions. The ability to maintain the properties and quality of packaging materials even when exposed to UV radiations, weathering resistivity, and long-term durability is the major factor driving the UV stabilizers market in packaging.
Asia-Pacific is expected to lead the UV stabilizers market during the forecast period
The Asia-Pacific region is estimated to lead the UV stabilizers market. This dominance of the region can be attributed to the presence of a large number of UV stabilizers manufacturers, rising foreign investments, and growing demand for HALS and UV absorbers from plastics, polymers, and automotive industries in the region.
China is leading the Asia-Pacific UV stabilizers market due to the growth in the use of UV stabilizers in packaging and automotive industries, among others, and numerous developmental strategies adopted by the manufacturers.
The UV stabilizers market has several global players. These companies are actively investing in various strategies such as new product development, expansions, acquisitions, and joint ventures to increase their market shares.
Major manufacturers such as Songwon Industrial Co., Ltd. (South Korea), Solvay SA (Belgium), ALTANA AG (Germany), BASF SE (Germany), Clariant AG (Switzerland), and Addivant (U.S.) have adopted various organic and inorganic strategies to expand their businesses.
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