In terms of value, the UV stabilizers market is estimated to grow from USD 1.3 billion in 2022 to USD 1.8 billion by 2028, at a CAGR of 5.7%. UV stabilizers are additives used in the production of plastics, coating, textiles and other materials to protect them from harmful UV radiations caused by the sun. These materials are often used in outdoor applications where they are exposed to sunlight for a longer duration of time, including construction, automotive and agricultural films.
The key 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). The UV stabilizers market is witnessing growth in the past few years; new technologies drive the growth of this market. Market players are introducing new technologies and features to acquire larger market shares.
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BASF SE is among the largest chemicals-producing companies across the globe. The company operates through seven business segments: chemical, materials, industrial solutions, surface technologies, nutrition & care, agricultural solutions and others. BASF SE offers UV stabilizers under the performance chemicals division, a subcategory of the industrial solutions segment. The company has customers in over 190 countries and supplies to various end-use industries such as chemicals, plastics, consumer goods, energy and resources, and automotive and transportation. The company has subsidiaries in 80 countries and joint ventures with 30 companies and operates 390 production sites in continents such as North America, Europe, South Africa, Africa, and the Middle East.
Evonik Industries AG, is a German multinational specialty chemicals company headquartered in Essen, Germany. Evonik operates in a variety of industries including chemical, energy, nutrition, and health. The company operates through five business segments: smart materials, specialty additives, nutrition & care, performance materials, and technology & infrastructure. Evonik manages its UV stabilizers manufacturing and commercialization processes under the specialty additives segment. The company produces key raw materials used in the synthesis of UV stabilizers. It also deals with the manufacturing of UV stabilizers used in coatings, packaging, and adhesives. Evonik has established production facilities in 26 countries worldwide and holds a strong market position in more than 100 countries worldwide.
UV Stabilizers Market by Type (HALS, UV Absorbers, Quenchers), Application (Packaging, Automotive, Agricultural films, Building & Construction, Adhesives & Sealants), & Region (Asia Pacific, North America, Europe) - Global Forecast to 2028
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