According to Stratistics MRC, the Global UV stabilizers market accounted for $1.24 million in 2017 and is expected to reach $2.44 million by 2026 growing at a CAGR of 7.8%.
Increasing demand for automobile production and packaging industries in the Asia Pacific region owing to huge population and rapid urbanization and use of UV stabilizers in green houses are propelling the market.
However, high production costs and fluctuations in the raw material prices hinder the market growth.
By Type the Hindered Amine Light Stabilizers (HALS) segment is anticipated to lead the market owing to use of UV stabilizers in automotive and packaging industries and their ability to protect polymers from degradation from UV light exposure providing long shelf life and durability.
These kinds of stabilizers are used in thin and thick cross-section applications such as blow molding, injection molding, extrusion, films and tapes. Inaddition, the growing demand for durable and high performance products in packaging, automotive, furniture & construction industries has influenced the growth of HALS in the market.
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Geographically, Asia Pacific region holds the largest market share owing to rise in population and rapid industrialization. Countries such as South Korea, Japan and China are the major consumers of UV stabilizers in this region.
Factors such as increasing production facilities, raise in the level of standard of living and heavy investments made by foreign companies contribute to the growth of the market in this region.
Some of the key players in the UV stabilizers market are Addivant, BASF SE, Akzo Nobel N.V., Everlight Chemical Industrial Co, Chemtura Corporation , Clariant AG, Mayzo, Inc, Chitec Technology Co., Ltd, Solvay SA, Cytec Industries, Inc, Altana AG, Everspring Chemical Co., Ltd., Lycus Ltd, Chemipro Kasei Kaisha, Ltd, Songwon Industrial Co. Ltd, Valtris Specialty Chemicals, Sunshow, Adeka Corporation and Vanderbilt Chemicals LLC .
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Hindered Amine Light Stabilizers (HALS)
Adhesives & Sealants
Building & Construction
Rest of Europe
Rest of Asia Pacific
Rest of South America
Middle East & Africa
Rest of Middle East & Africa
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