UV Stabilizers Market

UV Stabilizers Market

The global UV stabilizers market was valued at USD 1.3 billion in 2022 and is projected to reach USD 1.8 billion by 2028, growing at a cagr 5.7% from 2023 to 2028. Packaging industry is one of the major consumer of UV stabilizers, especially for food and cosmetic packaging application. This growth is due to the emergence of e-commerce platforms. Packaging has become a necessity for marketing to attract customers. UV protection in packaging is important for products that are intended for long term storage, as they may be exposed to UV rays for a long period of time. UV stabilizers protect the product, maintain its quality and effectiveness.

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UV Stabilizers Market Dynamics

Driver: Growing demand from construction industry

UV stabilizers are used specialty polymers for construction applications - such as plastic shingles, composite roofing tiles, siding, TPO roofing, polypropylene and geomembranes - require significant protection and long-term durability to maintain their physical appearance over extended periods. There has been massive industrial growth in Asia Pacific & Middle East & Africa since the past few years, and this is expected to continue during the next five years. The domestic and foreign investments in the construction industry have been consistently growing over the past decade in the region, which is fueling the growth of the UV stabilizers market.

Restraints: Volatility in raw material prices

The UV stabilizer manufacturing process includes the use of various raw materials, such as CDON, CYC, benzoyl chloride, benzene, aluminum chloride, sodium nitrite, acetic acid, TAA, and 3-benzaphthalides.  The cost of producing UV stabilizers can be directly impacted by changes in the price of these raw ingredients. If the prices of key raw materials increase significantly, it can result in higher production costs for UV stabilizer manufacturers. When the cost of raw materials used in UV stabilizers rises, manufacturers may face challenges in maintaining competitive pricing. UV stabilizers may be more expensive and less appealing to consumers if they are unable to bear the extra costs.

Opportunities: Growing agricultural films industry  

UV stabilizers play a significant role in modern agriculture through their incorporation in agricultural films, such as greenhouse films, mulch films, and silage films. These films are essential for crop protection, growth optimization, and efficient resource utilization. UV radiation from the sun can degrade agricultural films over time, reducing their performance and lifespan. The agricultural films industry is growing due to several factors such as global focus on increasing agricultural outputs, innovations in agricultural films, increasing number of nano greenhouses and changing dietary habits. Therefore, as the UV stabilizers play a crucial role in manufacturing agricultural films the demand for UV stabilizers will increase. Thus, the growing agricultural films industry drives demand for UV stabilizers.

Challenges: Stringent government regulations

The growing demand for UV-resistant coated plastic, polymer, and wood products has led to an increase in the production of UV stabilizers for flooring & decking, furniture, packaging, and automotive coating applications globally. However, government organizations set various regulations and standards to regulate the level of petrochemicals and other materials used in the synthesis of UV stabilizers. They also govern the number of UV stabilizers used in various end-use applications. The U.S. Environmental Protection Agency (EPA) regulates the use of chemicals, including UV stabilizers, under the Toxic Substances Control Act (TSCA). Pre-manufacture warnings and risk assessments for new chemicals must be submitted by manufacturers, and the EPA has the authority to prohibit or outlaw compounds that pose an unreasonably high danger to human health or the environment. This can restrict the market growth.

UV Stabilizers Market Ecosystem

Prominent companies in this market include well-established, financially stable manufacturers of UV stabilizers. These companies have been in business for a while and have a broad range of products, cutting-edge technologies, and robust international sales and marketing networks. Prominent companies in this market include BASF SE (Germany), Evonik Industries AG (Germany), SONGWON INDUSTRIAL CO. LTD., (South Korea), Clariant AG (Switzerland), Solvay S.A. (Belgium), Unitechem Group (China), and Everlight Chemical Industrial Corporation (Taiwan).

Based on type, HALS was the largest segment for UV stabilizers market, in terms of value, in 2022.

Due to their excellent UV protection capabilities, Hindered Amine Light Stabilizers (HALS) UV stabilizers are in higher demand across a variety of industries, including the construction sector. Because they combine effectiveness, durability, and compatibility with other additives and materials, HALS UV stabilizers have grown to be the most popular class of UV stabilizers. The demand is also driven by factors such as increased awareness of UV degradation, growing construction industry, rising demand of high-performance materials, and regulatory requirements.

Based on application, packaging was the largest segment for UV stabilizers market, in terms of value, in 2022.

The packaging segment led the UV stabilizers market in terms of value, in 2022. There is a significant demand for UV stabilizers in the packaging industry to protect goods from the damaging effects of UV radiation while being stored and transported. In packaged goods, particularly those that are light-sensitive like food, pharmaceuticals, and cosmetics, UV radiation can result in discoloration, fading, and other types of degradation. Overall, the need for product protection, consumer expectations, regulatory requirements, and technological developments in UV stabilizer formulations are all projected to drive up demand for UV stabilizers in packaging.

“Asia Pacific accounted for the largest market share for UV stabilizers market, in terms of value, in 2022”

Asia Pacific is home to some of the fastest-growing economies, such as China, India, and Southeast Asian countries. The economic growth in these countries drives construction activities, infrastructure development, and urbanization, which drives the demand for UV stabilizers to protect construction materials from UV degradation. Also the rising disposable income in this region contributes to an increased infrastructure and construction activities. Countries such as India and China have low cost labor which attracted major automotive manufacturers to set up an operational plant in these countries. All these factors are driving the market for UV stabilizers in Asia Pacific region majorly in construction, packaging and automotive application.

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UV Stabilizers Market Players

The players profiled in the report include BASF SE (Germany), Evonik Industries AG (Germany), SONGWON INDUSTRIAL CO. LTD., (South Korea), Clariant AG (Switzerland), Solvay S.A. (Belgium), Unitechem Group (China), and Everlight Chemical Industrial Corporation (Taiwan) among others, these are the key manufacturers that secured major market share in the last few years.

UV Stabilizers Market Report Scope

This report categorizes the global UV stabilizers market based on type, application, and region.

On the basis of type, the UV stabilizers market has been segmented as follows:

• HALS
• UV Absorbers
• Quenchers

On the basis of application, the UV stabilizers market has been segmented as follows:

• Packaging
• Automotive
• Building & Construction
• Agricultural Films
• Adhesives & Sealants
• Others

On the basis of region, the UV stabilizers market has been segmented as follows:

• Asia Pacific
• North America
• Europe
• Middle East & Arica
• South America

Recent Developments

• In March 2022, BASF announced plans to increase production capacity for hindered amine light stabilizers (HALS) at its facilities in Pontecchio Marconi, Italy, and Lampertheim, Germany. This capacity expansion was part of a multi-step investment plan aimed at meeting the growing demand for light stabilizers used in durable plastics applications. It enhances security of supply for its global customers by increasing production of HALS, which are key additives for plastic applications.
• In January 2022, SONGWON Industrial Co., Ltd., made an announcement that it has expanded its partnership with Bodo Möller Chemie GmbH. Through this partnership Bodo Moller will be a distributor of SONGWON’s PVC additives in Sub-Saharan African region..
• In October 2022, SONGWON launched two new products, SONGSORB 1164 and SONGNOX 9228 to meet the customer needs. These products are suitable for agriculture, packaging, building and construction, and home & personal care applications.
• In October 2022, Clariant introduced AddWorks AGC 970, a new light stabilizer solution for polyethylene agricultural films, that improves product durability in the mulch segment. It allows converters to extend the service life of their films by enhancing UV resistance and resistance to high levels of agrochemicals.

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