Rockville, Jan. 18, 2023 (GLOBE NEWSWIRE) — Fact.MR, a market research and competitive intelligence provider, reveals that sales of ultraviolet stabilizers are projected to increase at a CAGR of 5.3% from 2023 to 2033. As such, the global ultraviolet stabilizers market is expected to reach a valuation of US$ 2.4 billion by the end of 2033.
Demand for ultraviolet stabilizers is set to grow at a noticeable speed over the coming years owing to their rising use to minimize the adverse impact of UV radiation on different polymers. In addition, the mounting adoption of nanotechnology in the coatings industry is expected to complement target market growth opportunities.
UV stabilizers are elements that are helpful to prevent degradation and augment the durability and properties of polymers by maintaining flexibility, strength, and appearance. They absorb radiation that is generated by artificial light sources or sunlight while simultaneously neutralizing the impact of UV rays. Rising R&D activities, increasing preference for greenhouse films in the agriculture industry, and growing urbanization in several emerging nations are estimated to augment the demand for UV stabilizers. Furthermore, rising investments to develop advanced UV light stabilizers are also expected to create growth opportunities for industry players.
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Blends, hindered amine light stabilizers (HALS), UV absorbers, and quenchers are frequently used UV light stabilizers. UV absorbers are additives that are used for the prevention of plastic and some other polymer features from getting deteriorated in environments. They protect materials while converting absorbed UV rays into low-impact energy and heat via chemical reactions. Ultraviolet stabilizers are commonly used to reduce photodegradation in plastics by playing a significant role to suppress the generation of radicals that cause polymer degradation. Increasing investments in R&D activities will also contribute to enhanced market value.
- The international research team of the Institute of Organic Chemistry at the University of Witwatersrand and Johannes Gutenberg University declared the use of cashew nut shell oil to produce UV absorbers for the introduction of sustainability in the UV filter.
In the automotive industry, UV stabilizers are expected to experience increased demand. Polymers that are used in automotive components should be capable to bear constant UV light exposure and harsh temperature. Producers can use the solutions from the target market to ensure durability and performance to enhance the thermal stability and service life of polymers. UV light stabilizers can limit color deterioration and the formation of microcracks in the parts of the automobile to retain their physical and aesthetic properties.
Expansion opportunities in the global market are projected to experience certain hindrances owing to the high costs that are related to the production of UV light stabilizer systems that need numerous raw materials such as sodium nitrite, benzoyl chloride, acetic acid, aluminum chloride, and others.
Key Takeaways from Market Study
- The global ultraviolet stabilizers market is anticipated to advance at a CAGR of 5.3% from 2023 to 2033.
- The market in Germany is predicted to expand at a CAGR of 3.6% through 2033.
- The global market is valued at US$ 1.4 billion in the year 2023.
- Demand for ultraviolet stabilizers in Canada is estimated to increase at a CAGR of 4.3% through 2033.
- The market for ultraviolet stabilizers is set to reach US$ 2.4 billion by the end of 2033.
- The United States market was valued at more than US$ 300 million at the end of 2022.
“Factors such as the increasing requirement for non-deteriorating, UV-resistant, scratch-resistant, and improved ultraviolet stabilizers, along with growing awareness about the harmful effects of UV light on plastics, are driving growth opportunities in the global UV stabilizers market,” says a Fact.MR analyst.
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Key companies are incorporating various strategies, including novel product launches, to generate growth opportunities.
- BASF SE, in 2019, launched a new product called NOR 31 under the Tinuvin series that is used in greenhouse films in the agriculture industry.
Key Companies Profiled
- Adeka Corporation
- BASF SE
- Chemtura Corporation
- Everlight Chemical Industrial Corporation
- Lycus Ltd., LLC
- Songwon Industrial Co., Ltd.
- Valtris Specialty Chemicals
- Sunshow (Yantai) Specialty Chemical Co., Ltd.
Segmentation of UV Stabilizers Industry Research
- By Type :
- Hindered Amine Light Stabilizers (HALS)
- UV Absorbers
- By Application :
- Building & Construction
- Adhesives & Sealants
- By Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global ultraviolet stabilizers market for the period of 2023 to 2033.
The study divulges essential insights into the market on the basis of type (hindered amine light stabilizers (HALS), UV absorbers, quenchers, others) and application (packaging, building & construction, automotive, adhesives & sealants, others), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
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