Overview and Scope
UV stabilizers absorb the radiation coming from the sun or artificial light source, neutralize the light rays, and thus increase the strength of the material by lowering the cracks of the products. UV stabilizers are also used in indoor or outdoor applications such as coating and paint products.
Sizing and Forecast
The uv stabilizers market size has grown strongly in recent years. It will grow from <b>$1.68 billion in 2023 to $1.81 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. </b> The growth in the historic period can be attributed to increased data processing needs, semiconductor industry growth,r&d investments, globalization of electronics manufacturing, regulatory requirements.
The uv stabilizers market size is expected to see strong growth in the next few years. It will grow to <b>$2.46 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. </b> The growth in the forecast period can be attributed to increasing demand for advanced consumer electronics ,transition to advanced nodes, supply chain optimization, growing demand for consumer electronics , industry partnerships.. Major trends in the forecast period include nanotechnology integration, industry 4.0 integration, real-time monitoring and control,5g technology, miniaturization and compact design..
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Segmentation & Regional Insights
The uv stabilizers market covered in this report is segmented –
1) By Type: Hindered Amine Light Stabilizers, UV Absorbers, Quenchers
2) By End-Use Industry: Architectural, Agriculture, Automotive, Furniture, Packaging, Other End-Use Industries
3) By Application: Coatings, Adhesives and Sealants, Plastics, Other Applications
<b>Asia-Pacific</b> was the largest region in the UV stabilizers market share in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the market. The regions covered in the uv stabilizers market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increase in the production of vehicles by the automotive industry and the use of packaging contributed to the growth of the market. Due to the increasing population along with the improved standard of living and urbanization, there is a growing demand for automobiles. The automotive industry manufactures lightweight vehicles utilizing plastic materials along with UV stabilizers to promote the durability of vehicles’ components. Automotive manufacturers are expanding in China, India, and European countries. As per OICA, the number of vehicles produced in China is 25.72 million, the USA is 10.88 million, Japan is 9.68 million, Germany is 4.66 million, and India is 4.51 million. Moreover, the growing population demands well-packed food, well-constructed houses, and cars. The United Nation projected that the world’s population is expected to reach 9.7 billion by 2050. The increasing awareness about UV rays, increased the adoption of UV stabilizers to protect materials from degradation and improve their strength, thereby driving the market.
Key Industry Players
Major companies operating in the uv stabilizers market include <b> Addivant LLC, BASF SE, Clariant AG, Solvay S.A., Adeka Corporation, Songwon Industrial Co. Ltd., Valtris Specialty Chemicals Limited, ALTANA AG, Mayzo Inc., Lycus Ltd., Everlight Chemical Industrial Corp., Chitec Technology Co. Ltd., SABO S.p.A., Eastman Chemical Company, Evonik Industries AG, MPI Chemie BV, Noroo Chemical Co. Ltd., AkzoNobel N.V., Ampacet Corporation, Ashland Global Holdings Inc., Chemtura Corporation, Cytec Solvay Group, Everlight Americas Inc., Huntsman Corporation, IGM Resins B.V., Lambson Limited, Milliken & Company, Omnova Solutions Inc., Wanhua Chemical Group Co. Ltd., Unitechem Co. Ltd. </b>
The uv stabilizers market report table of contents includes:
1. Executive Summary
2.UV Stabilizers Market Characteristics
3.UV Stabilizers Market Trends And Strategies
4.UV Stabilizers market analysis
5.UV Stabilizers Market Size And Growth
6UV Stabilizers. Segmentation
7.UV Stabilizers Regional And Country Analysis
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27.UV Stabilizers Competitive Landscape And Company Profiles
28.UV Stabilizers Key Mergers And Acquisitions
29.UV Stabilizers Future Outlook and Potential Analysis
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