UV Stabilizers Market | Key players operating in the market include BASF SE, Clariant AG, Solvay, Evonik Industries AG, Songwon Industrial

According to recent market research "UV Stabilizers Market by Type (HALS,UV Absorbers, Quenchers), Application (Automotive, Packaging, Agriculture, Building & Construction, Adhesives & Sealants, Others), and Region - Global Forecast to 2025", size is expected to grow from USD 1.2 billion in 2020 to USD 1.6 billion by 2025, at a CAGR of 5.5% during the forecast period. UV stabilizers are used in various industries, such as Packaging, Automotive, Agriculture, Building & Construction others. In the UV stabilizers market, the packaging is the key end-use application owing to the wide use in various end-use industries.

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The packaging application will continue to lead the UV Stabilizers market. The key driver for the growth of UV stabilizers in this application segment are the increasing disposable income, changing consumer lifestyles, increased use of high-performance thermoplastics, polyurethanes, polymers, and growing pharmaceutical and food & beverage industries in countries such as China, India, Japan, the U.S., and Germany, among others.

Asia Pacific accounted for the largest share of the UV stabilizers market in 2020. Factors such as the rapidly increasing consumption of UV Stabilizers in plastic, packaging, automotive industries in countries such as China, Japan, India, and South Korea have led to an increased demand for UV stabilizers in the Asia Pacific region.

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The global UV stabilizers market size is estimated to grow from USD 1.2 billion in 2020 to USD 1.6 billion by 2025, at a CAGR of 5.5% during the forecast period. The market is projected to witness decent growth in the near future, owing to the wide application in various end use industries ranging from packaging, automotive to the agriculture industry. Increasing demand from APAC will further drive the growth of the global UV stabilizers market.

BASF SE (Germany), Evonik Industries AG (Germany), Songwon Industrial Co, Ltd. (South Korea), Clariant AG (Switzerland), and Solvay (US), among others are the leading UV stabilizers manufacturers, globally. These companies adopted expansion and new product launch as their key growth strategies between 2017 and 2020 to earn a competitive advantage in the UV stabilizers market.

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BASF SE (Austria) is the largest player in the UV stabilizers market, globally. BASF SE engages in the production of sales of a wide range of chemicals and intermediate solutions. The company has strong global presence and it operates through 390 production facilities across Europe more than 90 countries through its subsidiaries. It primarily operates in Europe and has an active presence in North America, Asia-Pacific, South America, Africa, and the Middle East. The company has a strong product portfolio of UV stabilizers, which caters to various end-use industries such as automotive, plastic & packaging, and building & construction. As a part of its growth strategy, the company is actively engaged in new product launch. In, 2017 the company has launched new light stabilizers for wood and metal coatings.

Evonik Industries AG (Germany) is the second-largest player of the UV stabilizers market, globally. Evonik, manufactures specialty chemical products, and is one of the world’s leading suppliers of TAA derivatives. The company is focused on and geographical expansions. The company produces key raw materials used in the synthesis of UV stabilizers. It also deals with the manufacturing of UV stabilizers which used in applications such as coatings, packaging, and adhesives. Evonik has established production facilities in 26 countries worldwide and holds strong market position in more than 100 countries worldwide.

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