UV Stabilizers Market | Key players operating in the market include BASF SE, EvonikIndustries AG, Clariant AG, Solvay SA, Addivant

According to recent market research "UV Stabilizers Market by Type (HALS, UV Absorbers, Quenchers), Application (Automotive, Packaging, Agriculture, Building & Construction, Adhesives & Sealants), and Region (North America, APAC, Europe, MEA, South America) - Global Forecast to 2026", is projected to reach 1.6 billion by 2026, at a CAGR of 5.6% from USD 1.3 billion in 2021.

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HALS does not absorb UV light; instead, it has an anti-degradation mechanism due to its catalytic nature. It is, therefore, mainly used to protect polymers from degradation under UV light exposure while providing higher durability and long shelf life compared to other stabilizers. The growth can be attributed to the increasing demand from applications, such as polyolefin films and thin and thick sections of polymers, including injection molding, extrusion, and blow molding. The non-degradability, long-term UV protection, durability, and high performance of HALS govern the market growth.

Packaging includes sub-applications, such as beverage packaging, food packaging, consumer goods, and industrial packaging products. The increasing disposable income and changing consumer lifestyles have increased the use of plastics as packaging products, such as bottles, caps & closures, transport crates, containers & drums, and films. The growing demand for HALS and UV absorbers in PET bottles, food & beverage containers, and pharmaceutical packaging to protect packaging materials and their content from degradation has fueled the UV stabilizers market in the packaging segment.

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The UV stabilizers market size was USD 1.3 billion in 2021 and is projected to reach USD 1.6 billion by 2026, at a CAGR of 5.6% between 2021 and 2026. The global UV stabilizers market is driven by the rising demand for advanced, scratch-resistant, UV-resistant, non-deteriorating, and long-term stable chemical compounds in the emerging markets of plastics, polymers, and wood components. UV stabilizers are available in different types, such as HALS, UV absorbers, and quenchers. HALS is the most common type of UV stabilizer. The increasing demand for UV stabilizers in APAC, growing demand for wood coatings in North America, and continuous product development and expansion activities undertaken by companies are the key factors for the growth of the global UV stabilizers market. The fluctuation in raw material prices of UV stabilizers and stringent government regulations for the synthesis and use of these stabilizers have a moderate effect on making the raw material market competitive. However, a large number of new raw material suppliers of UV stabilizers have also made the market competitive. This creates an opportunity for buyers or manufacturers to choose from multiple suppliers based on application requirements.

The key players in this market are BASF SE (Germany), EvonikIndustries AG (Germany), SONGWON Industrial Co. Ltd. (South Korea), Clariant AG (Switzerland), Solvay SA (Belgium), Suqian Unitechem Group (China), Everlight Chemical Industrial Corp. (Taiwan), Addivant (US), Valtris Specialty Chemicals Inc. (US), Mayzo, Inc. (US), and Lycus Ltd. (US).

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BASF SE is the largest player in the global UV stabilizers market. Sustainability and innovation are two of the significant strategies of BASF SE. Setting long-term goals in the economy, environment, safety, and society form a key strategic initiative undertaken by the company. It has a strong and reliable value chain and vertical integration approach, which allows efficient energy and waste management and minimizes the effects of carbon footprint, thus enhancing the light stabilizer production capacity. It is maintaining its position in the market by launching new products. In April 2019, the company launched a new product under the Tinuvin series called NOR 31, used in greenhouse films in agriculture.

On the other hand, EvonikIndustries AG is the second-largest player in the global UV stabilizers market. The company is focused on geographical expansions and invests in R&D activities. In January 2019, the Methacrylates Business Line of EvonikCyro LLC commenced operations of an additional line for compounding its ACRYLITE polymethyl methacrylate (PMMA) at its site in Osceola, Ark. The Business Line is the only PMMA manufacturer in the world that has fully integrated MMA/PMMA production networks with downstream compounding in the Americas, Europe, and Asia.

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