Global UV Stabilizers Market Report 2023: Increasing Demand from the Packaging Industry Boosts Growth

Global UV Stabilizers Market

Dublin, May 29, 2023 (GLOBE NEWSWIRE) -- The "Global UV Stabilizers Market by Type (HALS, UV Absorbers, Quenchers), Application (Packaging, Automotive, Agricultural Films, Building & Construction, Adhesives & Sealants), & Region (Asia-Pacific, North America, Europe) - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

In terms of value, the global UV stabilizers market is estimated to grow from USD 1.3 billion in 2022 to USD 1.8 billion by 2028, at a CAGR of 5.7%. The growth of the automotive, packaging and building & construction industries is also driving the demand for UV stabilizers.

The construction industry is experiencing growth globally, driven by a variety of factors such as population growth, urbanization, and economic development. In many regions, there is a growing demand for new infrastructure projects such as roads, bridges, airports, and public transport systems.

Additionally, there is a need to upgrade and modernize existing infrastructure to meet changing demands and address issues such as climate change and sustainability. All these factors are boosting the demand for UV stabilizers especially in construction application.

UV absorbers is expected to be the second fastest-growing type of the UV stabilizers market, in terms of value, during the forecast period

UV absorbers are widely used in industries such as automotive, construction, packaging, and personal care products. Global demand for UV absorbers is rising due to a number of factors, including the expanding use of plastics and polymers in a variety of applications, growing knowledge of the negative effects of UV radiation on human health, and the requirement to safeguard materials against deterioration and discoloration.

UV absorbers are frequently used in a variety of sectors, including the automotive, construction, packaging, and personal care items. They are employed in the automobile sector to shield polymers and coatings from UV radiation degradation. All these factors boost the market for UV absorbers globally.

Packaging is expected to be the fastest-growing application of the UV stabilizers market, in terms of value, during the forecast period

With the changing lifestyle and preference for home delivery the demand for safe and hygiene packaging is increasing in food & beverage industry. To preserve and safeguard goods and ensure that they are delivered safely, airtight plastic packaging is a necessary component of modern life.

The expansion of new markets, changes in substrate preferences, and shifting ownership dynamics have all contributed to the constant growth of the global packaging industry over the past 10 years. The increasing demand for personal care products especially in young population is also driving the demand for UV stabilizers in personal care products packaging.

Asia-Pacific is projected to be the fastest growing region, in terms of value, during the forecast period in the UV stabilizers market

Asia-Pacific is known for its low cost of labor, easy availability of raw materials, increase in adoption of modern technologies, innovations, and easy availability of inexpensive lands, which makes it the global hub for manufacturing. The increasing production and demand for passenger vehicle especially from India and China makes Asia-Pacific an attractive region for automotive manufacturers. Increase in the production of automotive is due to the presence of key automotive players such as Honda, Toyota, Hyundai, and Nissan. BMW and Volkswagen manufacturers have also expanded their business in this region. These factors are anticipated to fuel the growth of the UV stabilizers market in the region.

Market Dynamics

Drivers

Increasing Demand from Packaging Industry

Growing Demand from Construction Industry

Rising Demand in Asia-Pacific and North America

Restraints

Fluctuations in Raw Material Prices

High Production Costs

Opportunities

Increasing Use of Nanocomposites in UV Stabilizers

Growing Agricultural Films Industry

Challenges

Stringent Government Regulations

Key Attributes:

Report Attribute

Details

No. of Pages

255

Forecast Period

2023 - 2028

Estimated Market Value (USD) in 2023

$1.3 Billion

Forecasted Market Value (USD) by 2028

$1.8 Billion

Compound Annual Growth Rate

5.7%

Regions Covered

Global

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 UV Stabilizers Market, by Type7.1 Introduction7.2 HALS7.2.1 Increased Demand from Food Packaging to Drive Market7.3 UV Absorbers7.3.1 Demand from Various End-use Industries to Propel Market7.4 Quenchers7.4.1 Unique Light Quenching Properties to Fuel Market

8 UV Stabilizers Market, by Application8.1 Introduction8.2 Automotive8.2.1 Growing Automotive Industry in Asia-Pacific and Europe to Boost Market8.3 Packaging8.3.1 Growing Demand in Food and Non-Food Industries to Drive Market8.4 Agricultural Films8.4.1 Increase in Demand for Greenhouse Films & Tapes to Drive Demand8.5 Building & Construction8.5.1 Excellent Resistance to Temperature and Climatic Conditions to Drive Demand for UV Stabilizers8.6 Adhesives & Sealants8.6.1 Growing Demand from Automotive Sector to Boost Market8.7 Others8.7.1 Demand for Engineering Plastic Driving Market

9 UV Stabilizers Market, by Region

10 Competitive Landscape

11 Company Profiles

12 Adjacent & Related Markets

13 Appendix

Companies Mentioned

Adeka Corporation

Altana Group

Ampacet Corporation

BASF SE

Chitec Technology Co. Ltd.

Clariant AG

Everlight Chemical Industrial Corporation

Everspring Chemical Co. Ltd.

Evonik Industries AG

Greenchemicals S.R.L.

KNV Chemicals Inc.

Lycus Ltd. LLC

Mayzo, Inc.

Milliken & Company

MPI Chemie BV

Nouryon

Phoenix Plastics

Rianlon Corporation

Sabo S.p.A.

SI Group, Inc.

Solvay SA

Songwon Industrial Co. Ltd.

Sunshow Specialty Chemical Co. Ltd.

Unitechem Group

Valtris Specialty Chemicals

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Attachment

Global UV Stabilizers Market