UV Stabilizer Market worth 324.4 M USD by 2020

Tuesday 29 March 2016, Amsterdam

The report, now available on ASDReports, "UV Stabilizer Market by Type (HALS, UVA, Quenchers), by Application (Flooring & Decking, Furniture, Packaging, Automotive Coatings, Agriculture, Adhesives & Sealants), & by Region - Global Forecasts to 2020", The global UV stabilizer market is projected to reach USD 324.4 Million by 2020, registering a CAGR of 6.7%, in terms of value. This growth is fueled by the increasing production capacities, rising development strategies, increasing plastics consumption, and growing application sectors, globally.

HALS: The largest market, by type, of UV stabilizers

HALS, also known as Hindered Amine Light Stabilizers, is the largest segment of the UV stabilizers type market. Owing to their ability to protect polymers from degradation under UV light exposure, while providing durability and long shelf life, HALS are used in thin and thick section applications such as extrusion, blow molding, fibers, films, tapes, and injection molding among others. The increasing demand of non-degradable, durable, and high performance products in automotive, packaging, and furniture & construction industries has fueled the growth of HALS in the global UV stabilizer market.

Flooring & Decking: The largest application market for UV stabilizers

Flooring & decking is the largest application segment for UV stabilizers owing to the increasing demand from Wood Plastic Composites (WPC) and wood-based lightweight floors and decks used around swimming pools, gardens, composite deck flooring on beaches, balconies, and fences among others in North America, Asia-Pacific, and Europe. The ability to sustain the performance and quality of the coated materials in extreme climate conditions and UV radiation exposures, provide weathering resistivity, and long-term durability are major factors driving the demand of UV stabilizers in the flooring & decking application segment.

Asia-Pacific: The largest market for UV stabilizers

Asia-Pacific is estimated to be the largest market for UV stabilizers, globally. This is mainly attributed to the presence of large number of UV stabilizers manufacturers, increasing government support, rising foreign investments, and growing demand of HALS and UV Absorbers from plastics, polymers, and wood composite industries. China dominates the market due to growth of UV stabilizers in applications such as furniture, automotive coatings, and packaging among others and numerous developmental strategies adopted by the manufacturers.

The global UV stabilizer market is a fragmented one owing to the large number of buyers and suppliers, globally. In addition, the increasing rivalry among the players to obtain majority of the patents for UV stabilizers in applications such as packaging, coatings, and stabilization of engineering plastics has played a major role in intensifying the level of competition. Major players such as BASF SE (Germany), Clariant AG (Switzerland), Cytec Solvay Group (U.S.), Evonik Industries AG (Germany), and Songwon Industrial Co., Ltd. (South Korea) have adopted various organic and inorganic developmental strategies. They mainly focus on providing high-quality and cost-effective UV stabilizers components for various applications such as adhesives & sealants, agriculture, automotive coatings, flooring & decking, furniture, and packaging among others.

This report covers the market by value and by volume for UV stabilizers and forecasts the market size till 2020. It includes the market segmentation by type, by application, and region. It also provides company profiles and competitive strategies adopted by the major market players in the global UV stabilizers market.