UV Stabilizers Market Size, Share & COVID-19 Impact Analysis, By Type (Hindered Amine Light Stabilizers (HALS), UV Absorbers, Quenchers, and Others), By End-Use Industry (Packaging, Automotive, Agriculture, Building & Construction, Adhesives & Sealants, and Others), and Regional Forecast, 2023-2030

The global UV stabilizers market size was valued at USD 1.42 billion in 2022 and is projected to grow from USD 1.49 billion in 2023 to USD 2.16 billion in 2030 at a CAGR of 5.5% during the 2023-2030 period.

UV stabilizers are a highly effective means of safeguarding materials against the damaging effects of UV radiation. They absorb UV light and then convert it into heat, which is dispersed harmlessly. These stabilizers are widely used in a variety of applications, including plastics, coatings, and textiles. They are particularly essential for outdoor use, where exposure to sunlight can lead to material degradation over time. Each type holds unique properties and advantages. Among the most commonly used varieties are benzophenones, benzotriazoles, hindered amine light stabilizers, and others, which are expected to foster the UV stabilizers market growth.

COVID-19 IMPACT

Disruptions in Supply Chain & Logistics Cutback Impacted Global Market during Pandemic

The outbreak of COVID-19 had a profound and far-reaching impact on the UV stabilizers industry, causing major disruptions to the global supply chain and significantly reducing demand for these products. As a result, product manufacturers faced severe logistics & transportation challenges as they attempted to navigate their products to meet the range of demand. Despite these challenges, the industry demonstrated resilience and adaptability, with many companies innovating to drive the obstructed demand across the market. Manufacturers focused on pushing limits to mitigate these effects and identify new growth opportunities.

LATEST TRENDS

Rising Awareness among Consumers about the Benefits of UV Stabilizers and their Ability to Extend the Lifespan of Products to Fuel Product Demand

UV stabilizers can extend the lifespan of products exposed to sunlight. These are the chemical compounds added to various materials to protect them from the harmful effects of UV radiation. They work by absorbing the UV energy and converting it into heat, which dissipates harmlessly into the surrounding environment. Stabilizers are particularly important in products that are exposed to sunlight for long periods, such as outdoor furniture, automotive parts, and building materials. Without stabilizers, the products would degrade and deteriorate much faster than they should, leading to premature failure and replacement.

In addition to extending the lifespan of products, the product can also help to maintain their appearance and performance over time. For example, outdoor furniture protected with UV materials will maintain its color and resist cracking, fading, and other forms of damage. Overall, the solutions are an important consideration for manufacturers and consumers. By protecting products from the detrimental effects of UV radiation, they can help extend their lifespan and reduce the need for replacement by saving both time and money in the long run.

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DRIVING FACTORS

Increasing Product Demand from Building & Construction Industry to Aid the Market Growth

There has been a steady increase in product demand from the building and construction industry. These stabilizers are essential in protecting building materials such as plastics, coatings, and polymers from the detrimental effects of UV radiation. The building and construction industry is constantly seeking innovative solutions to improve the durability and longevity of their products and UV stabilizers have proven to be an effective solution. With the increasing awareness of the harmful effects of UV radiation, these factors are expected to augment the UV stabilizers market share in the coming years.

RESTRAINING FACTORS

Environmental Concerns Surrounding UV Stabilizers Pose Challenges for Market Growth

UV stabilizers can accumulate in the soil, water, and air, potentially harming plants, animals, and humans. They also resist degradation and can persist in the environment for long periods. This can lead to bioaccumulation, where the chemical concentrations increase as they move up the food chain, potentially harming ecosystems. In addition, some products are toxic to aquatic life, further highlighting the potential negative impact of their use on the sustainable environment, which may hinder the growth of the market in recent times. It is important to carefully consider the use of stabilizers and explore alternative options that may be more environmentally friendly.

SEGMENTATION

By Type Analysis

Hindered Amine Light Stabilizers (HALS) Segment Holds a Dominant Share in the Global Market Due to its Higher UV Stabilization Efficiency

Based on type, the market is categorized into Hindered Amine Light Stabilizers (HALS), UV absorbers, quenchers, and others.

The Hindered Amine Light Stabilizers (HALS) segment held a dominant market share in 2022. The organic chemical compound serves as light stabilizers in polymers and coatings. HALS is a safeguarding agent against the detrimental effects of ultraviolet (UV) light on materials, thereby preventing fading, discoloration, and degradation. Moreover, HALS exhibits high efficacy at low concentrations and is not known to induce untoward effects on human health or the environment. This is extensively applied in various applications, including coatings for automotive and aerospace components, outdoor furniture, and building materials, thus providing impetus to the growth of the market significantly over the coming years.

UV absorbers are an innovative substance that employs hydroxyl groups to absorb ultraviolet rays, which are then transformed into harmless heat energy. This process effectively thwarts problems such as fading, discoloration, and other forms of damage. The value of UV absorbers is particularly apparent in products such as clothing, sunscreen, automotive paint, and building materials, where maintaining their appearance and structural integrity is paramount.

By End-Use Industry Analysis

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Packaging Segment to Hold Major Share Owing to the Growing Demand from Light Sensitive Product Category

By end-use industry, the market is segmented into packaging, automotive, agriculture, building & construction, adhesives & sealants, and others.

Packaging is the major leading segment in the UV stabilizers industry, as they are becoming increasingly popular in food packaging. Stabilizers can help protect the food from harmful UV rays, which can cause degradation of nutrients and spoilage. Blocking out these harmful rays can help keep food fresher for longer and prevent the growth of harmful bacteria and other microorganisms, which can further prolong the shelf life of food. With the increasing demand for sustainable packaging solutions, UV stabilizers are essential in producing high-quality packaging materials that can withstand exposure to UV radiation. This trend is expected to continue in the coming years as consumers become more environmentally conscious and demand for eco-friendly packaging options tends to rise. Companies specializing in these stabilizers for packaging applications will likely see significant growth and profitability shortly.

Automotive components perform substantial growth due to being constantly exposed to harsh environmental conditions such as heat, sunlight, and moisture. It is essential for the materials used to withstand these elements and maintain high performance throughout their service life. In North America, the Society of Automotive Engineers (SAE) has set industry standards for interior and exterior automotive components, dictating performance requirements in end-use environments. To meet these stringent requirements, advanced polymer additives such as UV light stabilizers are added to plastic-based materials, which helps to extend the service life of automotive components that boosts the market in coming years.

REGIONAL INSIGHTS

Geographically the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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Asia Pacific is estimated to hold the largest market share, owing to widespread product usage in the industrial and commercial sectors. The market is being driven by the growth of end-use industries such as packaging, automotive, and construction. The increasing demand for the material in China, India, and Japan is expected to drive the growth of the market in the region.

North America is likely to rise considerably during the forecast period. UV stabilizers are becoming increasingly popular in the North American market as more consumers turn to these products to protect their valuable investments. With the right material, consumers ensure their products look great for years, even in harsh outdoor conditions. The product is largely available for cars, boats, and furniture, with plenty of options in the region.

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Europe has witnessed significant industrial development in the last decade. The increasing investment of the European Union in automobile and construction industries is the main factor driving the global market growth. The market is expected to witness significant growth in Germany, France, and the U.K.

The demand for stabilizers is rising in Latin America, particularly in industries such as packaging, adhesives, and agriculture. The rapid urbanization and growing number of industries, along with the lower labor cost in the region, also foster product demand during the forecast period.

The Middle East and Africa is expected to exhibit significant market growth over the study period. This is due to increased investment in the development of infrastructure and rapid growth in adhesives & sealants industry in Saudi Arabia. For instance, the emergence of e-commerce platforms such as noon.com is boosting the growth of the packaging industry, increasing the usage of the product in the region.

KEY INDUSTRY PLAYERS

Leading Industry Players Forge Ahead with Expansion and Innovation

Prominent industry participants include BASF SE, Clariant AG, Solvay, Songwon, and other notable firms. These companies are actively engaged in expanding their production capacities, introducing new product lines, forming strategic alliances, pursuing acquisitions, and fostering partnerships to enhance their competitive position within the market.

BASF SE, for instance, boasts a significant presence in the European market, serving as the region's largest producer of specialized chemicals. The company operates across six distinct market segments, encompassing chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions. Likewise, the remaining key market players have also established a robust regional footprint, well-developed distribution networks, and a diverse portfolio of products.

LIST OF KEY COMPANIES PROFILED:

• BASF SE (Germany)


• Clariant AG (Switzerland)


• Songwon (South Korea)


• Solvay (Belgium)


• Suqian Unitech Corp Ltd. (China)


• Everlight Chemical Industrial Corp (Taiwan)


• SABO S.p.A. (Italy)


• Lycus Ltd., LLC (U.S.)


• Sarex (India)


• Jiangsu Chemk Co.,Ltd. (CHEMK) (China)

KEY INDUSTRY DEVELOPMENTS:

• November 2022 – Songwon recently introduced two new products: the Songnox 9228 antioxidant and the Songsorb 1164 UV absorber. As claimed by the company, these polymer additives have proven to be ideal for various industries, such as packaging, agriculture, building, construction, and home and personal care applications. The company aims to provide products with unmatched quality, consistency, and reliability to their consistent customers.


• November 2022 – SABO S.p.A. announced its acquisition of the TAA and derivatives business from Evonik Industries AG, along with the production sites in Marl, Germany, and Liaoyang, China. This business is critical in providing the raw materials for manufacturing Hindered Amine Light Stabilizers (HALS). SABO's acquisition would ensure a continued supply of additives that are used in automotive components, agricultural films, building materials, and consumer goods.


• July 2022 – Solvay announced a new portfolio of UV-C stabilizers. The materials are designed to target hygiene applications. Under this product segment, bright (UV) light in the UV-C range (200 to 280 nm) is designated for polyolefin applications, including clinical hardware for working rooms, airplanes, and sports venues.


• July 2021 – UniteChem Group announced major investments in expanding its technical support capabilities for customers in Europe and worldwide. The company is committed to investing 5% of its total revenue in R&D and opened a second R&D and Innovation Center in Shanghai, equipped with state-of-the-art testing equipment. This move would enhance the company's technical support capabilities to conduct all major polymer accelerated weathering aging tests such as UV exposure, Xenon lamps, and heat oxygen, among others, and maintain its position as a leading supplier in the industry.


• January 2020 - Solvay expanded its project in Willow Island, West Virginia, by increasing the HMW (HALS) stabilizer capacity rate and intermediate production. This expansion would aim to meet Solvay's customers' needs and ensure their supply chain's security. Solvay is committed to growing with its customers and delivering innovative solutions.

REPORT COVERAGE

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The report provides a detailed analysis of the market and focuses on crucial aspects such as leading companies, products, and applications. It also offers insights into market trends and highlights vital industry developments. This report includes historical data & forecasts revenue growth at the global, regional, and country levels, and analyzes the industry's latest market dynamics and opportunities. In addition to the factors mentioned above, the report encompasses various factors contributing to the market growth in recent years.

Report Scope & Segmentation