UV Stabilizers Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.36 Billion |
| Market Size (2029) | USD 1.82 Billion |
| CAGR (2024 - 2029) | 5.96 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
UV Stabilizers Market Analysis
The UV Stabilizers Market size is estimated at USD 1.36 billion in 2024, and is expected to reach USD 1.82 billion by 2029, growing at a CAGR of 5.96% during the forecast period (2024-2029).
The COVID-19 pandemic negatively impacted the market in 2020. This was because of the shutdown of the manufacturing facilities and plants due to the lockdown and restrictions. Supply chain and transportation disruptions further created hindrances for the market. However, the industry witnessed a recovery in 2021, thus rebounding the demand for the market studied.
- The major factors driving the growth of the market include the rising consumption of UV stabilizers in the polymer industry and increasing demand for UV stabilizers from wood coatings.
- On the flip side, the negative economic effects of COVID-19 are expected to hinder the growth of the studied market.
- Among the product types, Hindered Amine Light Stabilizers (HALS) accounted for the highest market share during the forecast period.
UV Stabilizers Market Trends
Automotive Sector to Dominate the Market
- Some of the major application areas of UV stabilizers in automobiles include interior parts (door cladding, trim, window frame, center console, etc.) and exterior parts (bumper, bracket, side molding, etc.).
- According to the International Organization of Motor Vehicle Manufacturers (OICA), the total production of cars and vehicles globally in 2022 was 85.01 million units, compared to 80.14 million units in 2021.
- Additionally, according to S&P Global Mobility, global passenger car production reached 68.16 million units in 2022, an increase of 7.9% from the same period in the previous year.
- The Asia-Oceania and Americas regions recorded automotive production of 46.73 million and 16.15 million units in 2021, respectively, registering an increase of 6% and 3% compared to 2020. However, Europe recorded a production of 16.34 million units in 2021, a decrease of 4% from the production achieved in 2020.
- Emerging countries like Argentina, Indonesia, Morocco, Ukraine, and Thailand saw an increase in automotive production of over 10% over the previous year.
- There were 7.8 million electric vehicles sold worldwide in 2022, a 68% increase from 2021, the Wall Street Journal reported, citing preliminary research from the automotive research groups LMC Automotive and EV-Volumes. According to these reports, electric vehicles accounted for 10% of global auto sales in 2022. Some researchers predict the EV industry's market share are expected to double or even quadruple by 2030.
- Hence, such factors from the automotive sector are likely to significantly impact the demand for the market studied in the coming years.
Asia-Pacific region to Dominate the Market
- Asia-Pacific is anticipated to dominate the market owing to its massive growth in the construction, packaging, and automotive sectors.
- The automotive industry in China increased post-pandemic. Automotive production increased from 26.08 million units in 2021 to 27.02 million units in 2022 and registered a 3% growth in 2022.
- Additionally, according to China's Ministry of Industry and Information Technology, domestic vehicle production will reach 35 million by 2025, further solidifying its position as the world's leading automobile manufacturer.
- In India, the food packaging industry is witnessing sharp growth as most of the population shifts from rural to urban areas, increasing food services, among others. India consumes 20 billion food and beverage packages annually.
- By 2030, the country is expected to consume around 50 billion packages, with a growth rate of 8% in beverage packaging. Food packaging growth in the country is anticipated to increase UV stabilizer demand over the forecast period.
- Adhesives and sealants are one of the major markets in South Korea, owing to increasing woodworking and joinery applications. Additionally, the rising demand for furniture is also accelerating the demand for adhesives, propelling overall industry growth. Adhesives are also increasing in the electronics industry, and manufacturers are expanding their business capabilities.
- For instance, in August 2022, Henkel Korea announced the completion of its Songdo Plant within the Songdo High-Tech Industrial Cluster in Incheon. This was expected to become the Asia-Pacific production hub for high-impact electronics solutions for the Adhesive Technologies business unit.
- Hence, such factors will help boost the UV stabilizer market in the Asia-Pacific region over the forecast period.
UV Stabilizers Industry Overview
The global UV Stabilizers market is consolidated in nature. Some of the major players in the market (not in any particular order) include BASF SE, SONGWON, Solvay, CLARIANT, and SABO S.p.A., among others.
UV Stabilizers Market Leaders
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BASF SE
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SONGWON
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CLARIANT
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Solvay
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SABO S.p.A.
*Disclaimer: Major Players sorted in no particular order
UV Stabilizers Market News
- July 2022: Solvay announced the creation of an innovative new UV-C stabilizer range. The UV-C spectrum (200-280 nm) was used to treat polyolefin surfaces in these products, intended for use in demanding hygiene applications where COVID and hospital-acquired infections were combated. The development of the new unique stabilizing technique, which was the first to address the dangers of polyolefin deterioration, discoloration, and microcrack formation brought on by frequent exposure to UV-C radiation, marks a significant turning point for the polyolefin industry.
- March 2022: BASF SE announced that the company would increase production capacity for its hindered amine light stabilizers (HALS), which include its products Tinuvin, Chimassorb, and Uvinul, at manufacturing sites located in Pontecchio Marconi, Italy, and Lampertheim, Germany.
UV Stabilizers Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Drivers
- 4.1.1 Rising Consumption in Polymer Industry
- 4.1.2 Increasing Demand for Wood Coatings
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4.2 Restraints
- 4.2.1 Fluctuations in Raw Material Prices
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
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5.1 Type
- 5.1.1 UV Absorbers
- 5.1.2 Hindered Amine Light Stabilizers (HALS)
- 5.1.3 Quenchers
- 5.1.4 Antioxidants
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5.2 End-User Industry
- 5.2.1 Packaging
- 5.2.2 Automotive
- 5.2.3 Agriculture
- 5.2.4 Building and Construction
- 5.2.5 Adhesives and Sealants
- 5.2.6 Other End-User Industries
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 France
- 5.3.3.4 Italy
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 ADEKA CORPORATION
- 6.4.2 ALTANA AG
- 6.4.3 BASF SE
- 6.4.4 Chitec Technology Co., Ltd.
- 6.4.5 CLARIANT
- 6.4.6 Eastman Chemical Company
- 6.4.7 Everlight Chemical Industrial Co.
- 6.4.8 Lycus Ltd., LLC.
- 6.4.9 Mayzo, Inc.
- 6.4.10 Rianlon Corporation
- 6.4.11 SABO S.p.A.
- 6.4.12 SI Group Inc. (SK Capital Partners)
- 6.4.13 Solvay
- 6.4.14 SONGWON
- 6.4.15 UniteChem Group
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Nano-composites in UV Stabilizers
- 7.2 Increasing Application in the Pharmaceutical Industry
UV Stabilizers Industry Segmentation
UV stabilizers prevent a chemical process called "photo-degradation," which occurs when ultraviolet radiation collapses chemical bonds within a polymer. UV stabilizers generally act by absorbing the radiation coming from UV light and then dispersing the energy into heat at low levels. The UV stabilizer market is segmented by type, end-user industry, and geography. Further, by type, the market is segmented into UV absorbers, hindered amine light stabilizers (HALS), quenchers, and antioxidants. By end-user sector, the market is segmented into packaging, automotive, agriculture, building and construction, adhesives and sealants, and other end-user industries. The report also covers the market size and forecasts for the adhesives and sealants market in 15 countries across major regions. For each segment, market sizing and forecasts have been done on the basis of value (USD).
| Type | UV Absorbers | |
| Hindered Amine Light Stabilizers (HALS) | ||
| Quenchers | ||
| Antioxidants | ||
| End-User Industry | Packaging | |
| Automotive | ||
| Agriculture | ||
| Building and Construction | ||
| Adhesives and Sealants | ||
| Other End-User Industries | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
UV Stabilizers Market Research FAQs
How big is the UV Stabilizers Market?
The UV Stabilizers Market size is expected to reach USD 1.36 billion in 2024 and grow at a CAGR of 5.96% to reach USD 1.82 billion by 2029.
What is the current UV Stabilizers Market size?
In 2024, the UV Stabilizers Market size is expected to reach USD 1.36 billion.
Who are the key players in UV Stabilizers Market?
BASF SE, SONGWON, CLARIANT, Solvay and SABO S.p.A. are the major companies operating in the UV Stabilizers Market.
Which is the fastest growing region in UV Stabilizers Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in UV Stabilizers Market?
In 2024, the Asia Pacific accounts for the largest market share in UV Stabilizers Market.
What years does this UV Stabilizers Market cover, and what was the market size in 2023?
In 2023, the UV Stabilizers Market size was estimated at USD 1.28 billion. The report covers the UV Stabilizers Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the UV Stabilizers Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
UV Stabilizers Industry Report
The UV Stabilizers Market report provides a comprehensive industry analysis encompassing various segments such as type, end-user industry, and geography. The market forecast is detailed, offering insights into future trends and growth rate. The report covers industry statistics, market size, and market share, providing a thorough market overview. Additionally, it includes industry research and industry reports, offering valuable market data and market segmentation.
The market analysis highlights the role of UV absorbers, hindered amine light stabilizers, quenchers, and antioxidants in different sectors like packaging, automotive, agriculture, building and construction, adhesives and sealants, among others. The report also includes a market review, examining the industry outlook and market predictions.
Geographically, the report spans across regions including Asia-Pacific, North America, Europe, South America, the Middle East, and Africa. It provides an industry overview and market trends, with a focus on market leaders and market value. The report example and report PDF are available for further reference, offering detailed industry information and industry sales data.
Overall, the UV Stabilizers Market report is a valuable resource for understanding market growth, market outlook, and industry trends, supported by robust market research and industry statistics.
