Global UV Stabilizers Market Insights Forecasts to 2032
- The UV Stabilizers Market Size was valued at USD 1.90 Billion in 2022.
- The Market Size is Growing at a CAGR of 5.9% from 2022 to 2032
- The Worldwide UV Stabilizers Market Size is expected to reach USD 2.67 Billion by 2032
- Asia Pacific is expected to grow the fastest during the forecast period
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The Global UV Stabilizers Market Size is expected to reach USD 2.67 Billion by 2032, at a CAGR of 5.9% during the forecast period 2022 to 2032.
UV stabilisers guard against the long-term effects of UV radiation on wooden or plastic components. When a material is exposed to UV light, a polymer photo-degradation process takes place. This results in the material losing strength, changing colour, losing elongation and tensile capabilities, and chalking the surface. For instance, chairs stored in open stadiums might become chalky or even break into bits, and chairs kept in gardens can become brittle and lose their glossiness. In order to safeguard components that are exposed to UV radiation and to reduce losses and damage, manufacturers utilise UV light stabilisers.
Impact of COVID 19 On Global UV Stabilizers Market
The COVID 19 pandemic has resulted severe impact on the UV stabilizers market due to the huge workforce of organizations across the world who are working remotely. This has resulted into the decline in the tourism which has reduced the demand for light stabilizers. Due to the onset of COVID 19 pandemic, the business operations have been halted on a temporary basis, the UV stabilizers market growth is anticipated to remain robust with significant number of shipment which are unaffected in the upcoming years from 2020. Apart from this, the key market players have witnessed lesser impact on the procurement of raw materials because time as well as shipment costs are the matter of concern. Not only this but also the increasing investments made for the development of smart cities have gained attention with the pandemic outbreak. In addition, the demand of UV stabilizers is anticipated to expected to gain momentum after the pandemic period. The market players have started focussing to avail additional opportunities to make market expansion on the usage of UV stabilizers due to the additional display offerings and price considerations. Although the global UV stabilizers market was being impacted on a negative basis but the pandemic has provided various opportunities for the market trends over the forecast period.
Global UV Stabilizers Market Report Coverage
|Market Size in 2022 :||USD 1.90 Billion|
|Forecast Period 2022-2032 CAGR:||5.9%|
|2032 Value Projection:||2.67 Billion|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||130|
|Segments covered:||By Product, By Application, By Region|
|Companies Covered:||Clariant, Lanxess, Valtris specialty chemicals, Altana ag, LYCUS, Everlights, Akzo Nobel N.V., BASF, Mayzo, Solvay|
|Pitfalls & Challenges:||COVID-19 Empact,Challenges, Future, Growth, & Analysis|
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Key Market Drivers
UV exposure over time causes product degradation and discolouration. Additionally, it aids in reducing the rate of lignin breakdown in wood. In addition to preserving the integrity of the wood, these products are helpful in reducing negative environmental consequences, such as a reduction in volatile organic compound (VOC) emissions that lessen ozone depletion. The expansion of the market is anticipated to be aided by rising construction spending in developing nations like Vitenam, Malaysia, Indonesia, India, China, Brazil, and Russia. Based on its applications and end-use industry requirements, a broad selection of UV light stabilisers are available. UV absorbers are less expensive materials that are frequently utilised in applications with brief exposure times. On the other hand, quencher is mostly utilised in agricultural application regions and is anticipated to have significant demand due to the expansion of agricultural operations.
Key Market Challenges
Some of the factors which are hindering the growth of UV stabilizers market are the increasing level of UV radiations owing the depletion of ozone layer which affect various materials like wood and plastics. The plastics are the cheaper substitutes for the traditional construction materials. Thus, the increasing use of plastic materials is increasing significantly in the construction sector. Having said that, the high cost associated with the UV stabilizers are limiting the market growth.
Hindered Amine Light Stabilizers (HALS) segment is dominating the market with the largest market share over the forecast period
On the basis of type, the global UV stabilizers market is segmented into Hindered Amine Light Stabilizers (HALS), quenchers, absorbers, and blends. Among these, Hindered Amine Light Stabilizers (HALS) segment is dominating the market with the largest market share over the forecast period. The growth is attributed to its effectiveness in various application areas. For instance, HALS inhibits polymer degradation through the free radicals removal which form when polymers start oxidizing. Apart from this, HALS are good polymer stabilizers for polyolefins which help in preventing polymer deterioration instead of absorbing UV light. All these factors are increasing the demand of HALS across the industry which is propelling the segmental growth.
Packing segment accounted the largest market share over the forecast period
Based on the application, the global UV stabilizers market is segmented into decking and flooring, furniture and interiors, packaging, and others. Among these, the packaging segment accounted the largest market share over the forecast period. In polymer based product, UV radiation protection plays a crucial role as UV rays help in stimulating molecules to the point where their chemical bonds break and release reactive radicals that have the capability to destroy other molecules. In fact, many companies have started making new products in order to prevent degradation of packaging. These factors play a crucial role in propelling the growth of the segment.
North America is dominating the market with the largest market share over the forecast period
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North America is dominating the market with the largest market share over the forecast period. A rise in housing developments, technical improvements in the furniture and construction sectors, and strict environmental rules by the EPA are projected to boost the region's growth.
Asia Pacific, on the other hand is anticipated to witness the fastest market growth over the forecast period. The growth is attributed to the rapid industrialization in various developed economies and the growth in the end use industries. Apart from this, the growth of construction sectors in the developing countries like Japan, India, and China is anticipated to increase the demand for UV stabilizers.
Recent Market Developments
- In July 2022, Solvay has launched a portfolio of UV-C stabilizers which can be used in hygiene applications.
- In February 2022, Holland Colours has introduced proprietary UV stabilizer additive that deals with the problem in speeding up the production of PET bottles.
List of Key Companies
- Valtris specialty chemicals
- Altana ag
- Akzo Nobel N.V.
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global UV Stabilizers Market based on the below-mentioned segments:
UV Stabilizers Market, Type Analysis
- Hindered Amine Light Stabilizers (HALS)
- UV absorbers
UV Stabilizers Market, Application Analysis
- Furniture and Interiors
- Decking and Flooring
UV Stabilizers Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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