UV Stabilizer Market is Rapidly Growing with Huge Application Scope & Opportunities by 2020-2027

UV stabilizer is equipment manufactured to prevent damage caused by exposure to ultraviolet radiation. It protects the products from short and long exposure to UV radiations of the sun. UV stabilizers are further used to improve the polymer physical properties by maintaining their strength, flexibility, and appearance for the end-user industry applications. The absorbers convert the harmful UV radiation into harmless infra-red radiation, which is then transmitted through the polymer. UV stabilizers are used as coating to plastic materials such as ion cosmetic that offers UV-degradation effect for longer duration. Moreover, UV stabilizers are applicable in adhesives & sealants, furniture coating, automotive coating, decking, and floor coatings, which is expected to propel the market growth during the forecast years.

Rise in the market value can be attributed to increase in demand for wood coatings and increase in demand for greenhouse film. In addition, surge in need for UV radiation protection in the wood coatings industry is another major driver of the market. The global UV stabilizers market is expected to grow at a significant rate during the forecast period, due to increase in awareness about the harmful effects of ultraviolet light on plastics.

Furthermore, surge in need for packaging and automotive due to rapid urbanization and increase in population in China and other countries across Asia-Pacific region are affecting the market of UV stabilizers positively. Among the product types, hindered amine light stabilizers (HALS) are likely to account for the highest market share during the forecast period. However, the UV stabilizers market growth is restrained due to high fluctuation in raw material prices and high production cost of UV stabilizers.

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Hindered amine light stabilizers (HALS) are highly utilized for the stabilization of polyolefin, styrene polymers, polyamides, polyurethanes, polyacetals, adhesives, and sealants. UV stabilizers are capable of protecting the package and their contents from discoloration and damaging effects of UV radiations. It provides advantages such as high quality durability to the packaging materials such as bottles, caps & closures, containers & drums, and films. In addition, key trend observed in the global market for UV stabilizers is the ongoing infrastructure development, which has led firms to opt for low-cost raw materials such as plastic and wood. Therefore, order to prevent this plastics and wood from high exposure of sunlight, UV stabilizers are used as a coating, thereby fueling the growth of UV stabilizers market.

The ability of UV stabilizers to impart retention properties to the packaging material to preserve the consistency and longevity of packaging materials on exposure to sunlight, harsh environment conditions, and long-term durability is the major driving force of the UV stabilizers market. Moreover, rapid expansion of housing and construction industries and increase in residential spending are the major factors, which boosted the demand for UV-resistant wood coatings. This is a major factor that drives the growth of UV stabilizers such as HALS and UV absorbers in North America.

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However, in Asia-Pacific, the demand for UV stabilizers is increasing due to rise in investments from foreign companies, increase in production facilities, strong industrial base for packaging &automotive sectors, and improvement in standard of living. Furthermore, surge in demand for greenhouse film acts as a key driver of the global market.

The research offers an extensive analysis of key players active in the global market. Detailed analysis on operating business segments, product portfolio, business performance, and key strategic developments is offered in the research. Leading market players analyzed in the report include BASF SE, Songwon Industrial Co., Ltd., Clariant AG, Solvay SA, Altana AG, Adeka Corporation, Addivant, Valtris Specialty Chemicals, Lycus Ltd., Mayzo, Inc., Everlight Chemical Industrial Corporation, Adeka Corporation, Chemipro Kasei Kaisha, Ltd., Chitec Technology Co., Ltd., Sunshow, Everspring Chemical Co., Ltd., Ichemco SRL, Lambson Limited, MPI Chemie B.V., and Qingdao Jade New Material Technology. These players have adopted various strategies including expansions, mergers & acquisitions, joint ventures, new product launches, and collaborations to gain a strong position in the industry.

COVID-19 scenario analysis
The coronavirus outbreak has made many industries to shut down due to lack of raw material availability and disruptions in the supply chain. The worldwide lockdown has suspended the activities of construction and many other industries, which resulted in decline in the demand for UV stabilizers. Similarly, decrease in demand for textile in the current scenario may affect the demand for the product. As the transportation industry is in a complete standstill, the movement of packages is reduced drastically, which results in declined demand for UV stabilizers.

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