The global UV stabilizers market size was USD 1.42 billion in 2022. The market is set to surge from USD 1.49 billion in 2023 to USD 2.16 billion by 2030, exhibiting a CAGR of 5.5% over the study period.

UV stabilizers are deployed in an extensive range of applications such as textiles, coatings, and plastics. The products are vital for outdoor use, where sunlight exposure can result in material degradation over time.

Information Source - https://www.fortunebusinessinsights.com/uv-stabilizers-market-108582

Segmentation:

HALS Segment Led the Market in 2022 Due to Wide Usage in Building Materials

On the basis of type, the market is segmented into quenchers, UV absorbers, HALS (hindered amine light stabilizers), and others. The Hindered Amine Light Stabilizers (HALS) segment registered a leading market share in 2022. This was on account of the extensive deployment of the product in a range of applications. These include building materials, outdoor furniture, and coatings for aerospace and automotive components.

Packaging Segment to Dominate Driven by Surging Demand for Sustainable Packaging Solutions

Based on the end-use industry, the market is subdivided into automotive, packaging, agriculture, adhesives & sealants, building & construction, and others. The packaging segment is set to hold a prominent share of the market. This is credited to the growing demand for sustainable packaging solutions. The stabilizers are vital in the production of high-quality packaging materials.

Based on geography, the market for UV stabilizers has been analyzed across North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

Report Coverage:

The UV stabilizers market research report provides an analysis of the pivotal trends in the market. It further gives an insight into the key factors driving industry expansion over the coming years. The report also delves into the vital steps undertaken by major market players in gaining a strong industry foothold.

Drivers and Restraints:

Market Size to Surge with Escalating Product Demand from the Building & Construction Sector

One of the key factors impelling UV stabilizers market growth is the surging product demand in protecting building materials such as polymers, coatings, and plastics in the construction sector. The stabilizers find application in enhancing product longevity and durability.

However, concerns associated with bioaccumulation may hamper industry expansion.

Regional Insights:

Asia Pacific to Hold Major Share Impelled by Rising Product Usage in the Industrial Sector

Asia Pacific UV stabilizers market share is set to hold a leading position in the market. This is due to the extensive product deployment in the commercial and industrial sectors. The regional growth is further being impelled by the expansion of numerous end-use industries such as construction, automotive, and packaging.

North America is slated to record a considerable rise over the study period. The growth can be attributed to the soaring availability of the product for use in boats, cars, and furniture.

Competitive Landscape:

Pivotal Players Focus on Investment Initiatives to Strengthen Product Portfolio

Leading industry players in the UV stabilizers industry are centered on investing in expanding their production capacities. Several companies are also focused on research initiatives. These steps are being undertaken to strengthen their product portfolio.

Key Industry Development:

• June 2022 – UniteChem Group announced key investments in local customer support and global production capacity. The group’s expanding portfolio would be on display during the Dusseldorf-based K 2022.

List of Key Players Mentioned in the Report:

• BASF SE (Germany)
• Clariant AG (Switzerland)
• Songwon (South Korea)
• Solvay (Belgium)
• Suqian Unitech Corp Ltd. (China)
• Everlight Chemical Industrial Corp (Taiwan)
• SABO S.p.A. (Italy)
• Lycus Ltd., LLC (U.S.)
• Sarex (India)
• Jiangsu Chemk Co., Ltd. (CHEMK) (China)