Latest News- Ultraviolet Stabilizers Market: HALS expected to lead the Type segment during 2024-2028

The Ultraviolet Stabilizers Market is being driven by Rising demand in polymer industry

The Ultraviolet Stabilizers Market is expected to grow at a CAGR of 6.81% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 431.81 million. The ultraviolet (UV) stabilizers market is poised for significant growth, driven by robust macroeconomic factors. In emerging economies, including China, India, South Africa, Brazil, and the UAE, high-income levels and expanding GDP will fuel the expansion of industries such as construction, automotive, and packaging. These sectors have substantial demands for UV stabilizers to preserve the color, texture, and visual appeal of their products. Notably, the flooring and decking, construction, and furniture industries represent substantial consumers of UV stabilizers. Infrastructural development, a thriving furniture industry, and abundant raw materials in these countries will further propel market growth throughout the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • HALS
  • UV absorbers
  • Quenchers
• Application
  • Flooring and decking
  • Furniture
  • Automotive coatings
  • Packaging
  • Others
• End-User
  • Automotive
  • Construction
  • Consumer Goods
  • Industrial
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • France
    • Germany
    • Italy
    • UK
  • North America
    • US
    • Canada
  • South America
    • Argentina
    • Brazil
  • Middle East and Africa
    • Egypt
    • KSA
    • Oman
    • UAE

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising demand in polymer industry
• Increasing awareness about harmful effects of UV light on plastics
• Growing demand from plastics, coatings, and construction industries

However, the market also witnesses some limitations, which are as follows:

• Compliance with strict safety and environmental requirements
• Fluctuating cost of raw material for UV stabilizers
• Instability and volatility of economic conditions in MEA

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Market Scope in Ultraviolet Stabilizers Market Research Report

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Research Analysis Overview

The Ultraviolet (UV) stabilizers market is experiencing significant growth due to the increasing demand for plastics with improved durability and aesthetic quality in various industries. However, the market faces challenges such as raw material shortages and ecological harm caused by some UV stabilizers with high environmental impact. These stabilizers, often chemical additives, can deteriorate materials and products when exposed to UV radiation, leading to discoloration and degradation. External factors, such as UV collides bonds and photodegradation, accelerate the deterioration process. The plastics industry is responding to these challenges by developing natural or synthetic UV stabilizers with better performance and less environmental impact. Growing awareness of the importance of UV stabilizers in maintaining the longevity and quality of plastics is creating opportunities for market expansion. As the demand for sustainable and eco-friendly solutions increases, the market for UV stabilizers is expected to continue growing. Polymer manufacturers are investing in research and development to create UV stabilizers that offer superior performance, durability, and ecological benefits. These advancements will help mitigate the negative effects of UV radiation on materials and products, ensuring they maintain their intended properties and aesthetics over time.

Market Research Overview

In accordance with Technavio's market research, the global ultraviolet stabilizers market is a significant segment within the expansive specialty chemicals industry. This sector encompasses businesses producing high-value-added chemicals utilized in the manufacturing process of a diverse range of products, such as fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. The global specialty chemicals market's size is determined by the consolidated revenue generated by these high-value-add chemical manufacturers. Key growth drivers for this market include the increasing demand for specialty adhesives and sealants, which are expected to significantly contribute to the market's expansion throughout the forecast period. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Email: media@technavio.com
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