UV Light Stabilizers Market to Witness Major Growth in Coming Years
UV absorbers, Hindered Amine Light Stabilizers (HALS) and quenchers are the types of UV light stabilizers that have significant applications such as coating substrates for flooring, decking, furniture and for interior & exterior parts of automobiles. Additionally, UV light stabilizers have found increased applicability in the packaging industry and in agricultural tapes & films. HALS segment constituted 74% of the overall UV light stabilizer market by value, owing to its already established large adoption base and usability in many applications. HALS are preferred over other stabilizers due to their longer shelf life; thus, boosting the HALS market during the forecast period. UV absorbers, which currently occupy 23% of the total market, are witnessing increased adoption due to their cost-effectiveness, but they can be useful only for short-term exposure. Hydroxy-benzo-phenone and hydroxyl-phenyl-benzotriazole are the most preferred UV absorbers due to the advantage of being suitable for neutral or transparent applications.
The Asia-Pacific region dominates the UV stabilizer market followed by Europe and North America. The boom in construction and automobile industry, and the increased utilization of plastics in the APAC region, have contributed to highest market share of the region in the overall UV stabilizer market. The ongoing infrastructure developments in the Asia-Pacific region would boost the growth of the UV stabilizer market during the forecast period.
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Increasing level of UV radiation
The increasing usage of refrigerator and AC, which releases gases that effects ozone layer, has significantly led to the rising level of UV radiation. According to NASA, the level of UV radiation has significantly risen in last 30 years, thereby causing degenerative effects on materials exposed to the sunlight. The increased UV radiation owing to the enhanced usability of gas emitting equipment supplements the growth of UV stabilizer market.
Key Findings of UV Light Stabilizer Market:
• The growth of global UV stabilizer market would be supplemented by the increasing demand from the construction, automobile and plastic industry, to protect the exposure of objects and materials to UV radiations
• Hindered amine light stabilizers (HALS) segment would account for the maximum revenue share throughout the forecast period owing to their durability and usability in different applications
• The boom in the construction industry would lead to rise in the adoption for UV stabilizers in applications like flooring, decking and furniture coatings.
• The Asia-Pacific region had generated around 50% of the total market revenue in 2014 and would continue to maintain this position during the forecast period.
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The report outlines the competitive environment of the global UV light stabilizer market and provides a comprehensive study of the key organic and inorganic strategies adopted by key market leaders. Several companies are focusing on product launches and expansions as their key strategies to improve their market foothold. The key companies profiled in the report are ALTANA AG (BYK-Chemie GmbH), BASF SE, Akcros Chemicals Ltd., Cytec Industries, Inc., Mayzo, Inc., Chemtura Corporation, AkzoNobel N.V., Everlight Chemical Industrial Co., Clariant Ltd. and Lycus Ltd.
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