UV Light Stabilizers Market size is Projected to Reach $871.5 Million by 2030 | Growing at a CAGR of 6.6%
The global UV light stabilizers market size was valued at $462.9 million in 2020, and is projected to reach $871.5 million by 2030, registering a CAGR of 6.6% from 2021 to 2030.
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UV light stabilizer protect plastic or wooden components from long-term effects of UV radiations. A polymer photo-degradation process occurs when a substance is exposed to UV radiation, resulting in deterioration of physical properties of the substance such as changes in color, loss of strength, elongation & tensile strength properties, or chalking of surface.
For instance, plastic or wooden chairs kept in gardens become brittle and lose their glossiness and chairs kept in open stadiums appear to be chalky or sometimes break into pieces. Therefore, manufactures use UV light stabilizers to protect components that are exposed to UV radiations to prevent damage & losses.
UV absorbers, hindered amine light stabilizers (HALS), and quenchers are the key types of UV light stabilizers. Among these, HALS occupies more than 70% of global UV stabilizer market share, followed by UV absorbers, constituting around 23%. UV absorbers are cost-effective, which is expected to boost the demand for UV light stabilizers forecast.
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UV light stabilizers are mostly used in floor coating and decking applications to protect the floors and decks from the harmful effects of UV radiation. In 2020, the floor coating segment was the highest revenue generator in the overall UV light stabilizers market share, owing to the extensive usage of UV light stabilizers for all kinds of flooring.
According to UV light stabilizers market trends, Asia-Pacific dominates the global UV light stabilizers market size, followed by Europe and North America. The boom in construction and automobile industries and increase in utilization of plastics in Asia-Pacific have contributed to the highest market share of the region. The ongoing infrastructure developments in Asia-Pacific are anticipated to boost the growth of the UV stabilizer market growth during the forecast period.
The UV light stabilizers industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.
Some of the major key players of the global UV light stabilizers market include,
⦁ Altana AG
⦁ Valtris Specialty Chemicals
⦁ Akzo Nobel N.V.
Top Impacting Factors:
The notable factors affecting the UV light stabilizers industry include increase in level of UV radiations due to ozone depletion that affects different materials such as plastics and wood. The growth of UV light stabilizers market is fueled with the boom in construction industry and increase in usability of plastic and wooden materials in the construction industry for applications such as floor coating, decking, and fencing. Plastic is a cheaper substitutes for traditional construction materials, hence, the adoption of plastic materials is widely witnessed in construction sector. However, the cost of UV stabilizers is high, which limits the market growth.
Key Benefits for Stakeholders:
⦁ This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the uv light stabilizers market analysis from 2020 to 2030 to identify the prevailing uv light stabilizers market opportunities.
⦁ The market research is offered along with information related to key drivers, restraints, and opportunities.
⦁ Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
⦁ In-depth analysis of the uv light stabilizers market segmentation assists to determine the prevailing market opportunities.
⦁ Major countries in each region are mapped according to their revenue contribution to the global market.
⦁ Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
⦁ The report includes the analysis of the regional as well as global uv light stabilizers market trends, key players, market segments, application areas, and market growth strategies.
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