UV Stabilize Market size is forecast to reach $2,389.9 million by 2025, after growing at a CAGR of 6.4% during 2020-2025, owing to the wide usage of UV stabilizer in various applications such as furniture, architectural, automotive, packaging, and more. UV stabilizers filters harmful UV light and helps prevent colour change and delamination of coatings, adhesives, and sealants owing to which it is extensively used in these applications. The growing need for packaging and automotive due to rapid urbanization and increasing population in various regions, is the major factor driving the growth of UV stabilizers market during the forecast period. In addition, the growing demand of greenhouse films globally is anticipated to play a key role in driving the UV stabilizers market during the forecast period.
UV Stabilizers Market Report Coverage
The report: “UV Stabilizers Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the UV stabilizers Industry.
By Type: Hindered Amine Light Stabilizers, UV Absorbers, and Quenchers
By Application: Coatings (Waterborne Coatings, UV Curable Coatings, and Others), Adhesives and Sealants, Plastics, and Others.
By End-Use Industry: Architectural (Residential, and Commercial), Agriculture, Automotive (Automotive Interior, and Automotive Exterior), Furniture (Outdoor Furniture, and Indoor Furniture), Packaging (Beverage Packaging, Food Packaging, and Toiletries & Cosmetics Packaging), and Others
By Geography: North Americas, South America, Europe, Asia Pacific, RoW
Key Takeaways
- Asia Pacific dominates the UV stabilizers market, owing to the increasing construction activities in the APAC region due to various government initiatives such as “100 smart cities” and “One Belt, One Road”.
- Light stabilizer solutions in which UV absorbers and HALS (Hindered amine light stabilizers) are synergistically combined, provide high-performance solutions for automotive OEM refinish paints, which tends to increase the market growth.
- Even in indoor diffuse light conditions, naturally pale wood tends to yellow and darken with time as a result of lignin photo-oxidation. So to avoid photo-oxidation the UV stabilizers are widely used in the indoor furniture.
- Due to the COVID-19 outbreak, operations of various industries such as building and construction, automotive, and packaging have been heavily affected, which is limiting the growth of UV stabilizers market.
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UV Stabilizers Market Segment Analysis - By Type
The hindered amine light stabilizers (HALS) segment held the largest share in the UV stabilizer market in 2019, as it efficiently inhibits polymer degradation. HALS high efficiency and longevity are due to a cyclic process wherein the HALS are regenerated rather than consumed during the stabilization process. Hindered amine light stabilizers are very efficient stabilizers for polymers and especially polyolefins. They do not absorb UV radiation but act to inhibit degradation of the polymer. In addition, significant levels of stabilization are achieved at relatively low concentrations on using hindered amine light stabilizers due to which its demand is increasing from various end-use industries. All these factors are boosting the demand for hindered amine light stabilizers (HALS) during the forecast period.
UV Stabilizers Market Segment Analysis - By Application
The plastic segment held the largest share in the UV stabilizer market in 2019 and is growing at a CAGR of 5.6%. Plastics materials can be susceptible to damage by the action of UV radiation. Exposure of plastics to the UV radiation in sunlight initiates degradation through a photo-oxidative process. This can produce a number of undesirable effects including changes in appearance (discoloration, changes in gloss, and/or chalking), deterioration of mechanical properties, and the formation of visible defects such as cracks. Thus, UV Stabilizers are used to protect plastics against degradation from long term exposure to UV radiation. Ultraviolet (UV) absorbers act by shielding the interior of plastic parts from damaging UV radiation. UV absorbers are effective for the stabilization of many plastics, including PVC and engineering plastics. They are also used in plastic packaging applications to protect the package content from the effects of UV radiation. All these factors are driving the UV stabilizers market growth during the forecast period.
UV Stabilizers Market Segment Analysis - By End Use Industry
The packaging segment held the largest share in the UV stabilizer market in 2019 and is growing at a CAGR of 5.1%, owing to the increasing usage of UV stabilizers in the food, beverages, and toiletries & cosmetics packaging industries. UV stabilizers combat the degradation that plastics can undergo under the effects of sunlight, UV rays, heat and reaction with oxygen, owing to which it is widely used in the food, beverage, and cosmetic plastic packaging as an additive. In addition, innovation in packaging has been crucial to influence soft drinks consumption, especially water owing to which there is an upsurge in the demand for UV stabilizers from the food and beverages industry. According to the International Trade Administration (ITA), food production in Russia increased by 4.7%, while beverage production increased by 3% in 2018. This growth was mainly due to import restrictions stimulating domestic production and competitive prices of domestic products on local and international markets. Thus, the extensive usage and wide application of UV stabilizers in the packaging industries is anticipated to drive the UV stabilizers market in the packaging sector during the forecast period.
UV Stabilizers Market Segment Analysis - By Geography
Asia Pacific region held the largest share in the UV stabilizers market in 2019 up to 46%, owing to the increasing packaging industry in the region. In 2016, according to the Federation of Indian Chambers of Commerce & Industry (FICCI), the Indian packaging is one of the fastest growing industries and stands at USD 700 billion globally. In India it grew at a CAGR of 16% in the last five years and touched approximately USD 32 Billion in 2015. According to Plastics Europe, in 2018 China reached 30% of world's plastics production – 359 million tonnes. According to United States Department of Agriculture (USDA), China’s food processing industry continued to grow in 2017. Revenue climbed to $1.47 trillion, an increase of 6.3 percent compared with the previous year of 2016. The increasing population and rapid urbanization in these countries is enhancing the demand for packaging industry thereby, accelerating the growth of the UV stabilizers market in the Asia Pacific during the forecast period.
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UV Stabilizers Market Drivers
Increasing Level of UV Radiation and The Harmful Effect of UV Radiation
The increased use of refrigerator and AC, which emits ozone-layered gasses, has led significantly to an increasing UV radiation level. NASA has stated that in the last 30 years, the amount of UV radiation has raised dramatically causing degenerative effects on sunlight materials. The increased use of gas emission devices enhances the growth of the UV stabilizer market with increased UV radiation. People are becoming increasingly aware about the harmful effects of different materials such as plastics and wood. Polymer photo degradation occurs when a substance is exposed to UV radiation and the physical characteristics of the substance, such as colour, loss of material strength, elongation and tensile strength characteristics or surface cracking, are deteriorated. The manufacturers therefore apply UV light stabilizers to prevent damage and avoid loss of components that are exposed to UV radiation. Thus, the increasing level of UV radiation and the harmful effect of UV radiation act as a driver for the UV stabilizers market growth.
Escalating Construction Sector
Continuing infrastructure growth has enabled construction industry to expand. Alternative inexpensive raw materials like plastic and wood products are preferred by businesses or manufacturing. However, these materials can be quickly shaped into various forms, which contribute to substantial demand for flooring, shielding and fencing applications. Such materials with high exposure to the sun cause degradation and UV stabilizers have been applied as a coating substrate on such materials to minimize such efficiencies. According to the US Census Bureau, in February 2020 total construction was at a seasonally adjusted annual rate of 1,366,697 which is 6.0 percent above the February 2019 rate of 1,288,951. The rapid growth of housing and construction industry spending has increased dramatically in the U.S. and Mexico, resulting in the economic development of the region of North America. Eco-friendly use, low VOC emissions and high content of UV stabilizers are favored for the use of wood coating. Because of rising demand and the large building and construction market in the region, the country exports almost 90 percent of the furniture from US manufactures. This is a major factor in the growth of UV stabilizers in North America, such as HALS and UV absorbers. The growing use of plastics and wood in the building industry will thus drive the growth of ultraviolet stabilizers to preserve their intensity.
UV Stabilizers Market Challenges
Fluctuations of UV stabilizers costs for raw materials
The processing method for UV stabilizers involves numerous raw materials, including cyclododecanone (CDON), cyanuric chloride (CYC), benzoyl chloride, benzene, aluminum chloride, sodium nitrite, acetic acid, triacetonamine (TAA), and 3-benzaphthalides. The raw materials are selected according to the requirements and specifications for the end-use application. The UV stabilizer raw material demand is extremely competitive, with considerable effects on the price volatility of CDON, CYC, benzene, aluminum chloride, and amine among others. Precisely CDON, CYC, and chlorides fluctuate in the supply and prices of the raw materials and the increases in their prices will adversely affect the cost of output. The key components used in the synthesis of UV stabilizers used in plastic components are CDON and CYC, whereas TAA is the main raw material used in HALS. Thus, the unstable market for raw materials represents a major restraint to the stability of UV stabilizers on the global stabilizers market.
Covid-19 Impact on The UV Stabilizers Market
However, the COVID-19 pandemic outbreak is having a huge impact on the automotive industry. The production of automobiles has been disruptively stopped, contributing to a major loss in the total automotive sectors. According to the European Automobile manufacturers Association, In June 2020, demand for new commercial vehicle across the EU remained weak (-20.3%), while France recorded a modest increase (+2.2%). Automotive sales overall plummeted by two-thirds in Brazil to 55.700 units. With the decrease in automotive production, the demand for UV stabilizers has significantly fallen, which is having a major impact on the UV stabilizer market. According to Congressional Research Service (CRS), nearly 80% of Mexican-made vehicles are shipped to its top trade partner, the United States. Exports fell by 77 % to 7.200 units in Brazil. But due to the export and import restrictions by various governments, there has been a downfall in the export and import of commodities, which is limiting the UV stabilizers market growth.
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Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the UV stabilizers market. In 2019, the market of UV stabilizers has been consolidated by the top eight players accounting for 60% of the share. Major players in the UV stabilizers market are BASF SE, Solvay S.A., Songwon Industrial Co., Ltd., Everlight Chemical Industrial Corp., ADEKA Corporation, Mayzo Inc., Clariant AG., Addivant, Lycus Ltd. LLC, and Valtris Specialty Chemicals.
Acquisitions/Technology Launches
In May 2020, SONGWON Industrial Co., Ltd. has signed an exclusive distribution agreement with Biesterfeld France. Biesterfeld France will exclusively distribute the SONGWON’s polymer stabilizer range in France.
In January 2020, Solvay’s high molecular weight (HMW) hindered amine light stabilizer (HALS) capacity went online, complementing existing HALS production at the Willow Island, West Virginia, USA, site. Solvay S.A expanded its capacity to better meet the needs of customers.
In July 2019, BASF SE expanded its NOR® technology to help farmers continuously produce in a sustainable way. Tinuvin® NOR® 356 protects and extends the lifetime of agricultural films that are exposed to very high levels of UV radiation, heat, and crop treatments such as elemental sulfur.
In April 2019, Solvay has introduced two UV stabilizers to the Brazilian market at Feiplastic 2019, CYASORB CYNERGY SOLUTIONS® M528 for injection and blow molded applications and CYASORB® CYXTRA®V9900 for automotive interior and exterior parts.
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