The Global UV light stabilizers Market Size is Expected to Reach USD 2.06 Billion, Expanding at a CAGR 5.6% over the forecast period

NEW YORK CITY, NEW YORK, UNITED STATES, November 22, 2022 /EINPresswire.com/ -- The global UV light stabilizers market size is expected to reach USD 2.06 Billion in 2028 and register a CAGR of 5.6% over the forecast period, according to the latest report by Reports and Data. Increasing demand for UV stabilizers in automotive sector for improving automotive part production, increasing usage of UV stabilizers in building and construction activities, and rising awareness regarding UV repellent or UV resistant products are major factors driving market revenue growth. UV light stabilizers are types of elements that are used to reduce harmful effects of ultraviolet radiation. UV Stabilizers help to prevent degradation, enhance physical properties of polymer and durability by managing their flexibility, appearance, and strength.

UV light stabilizers are widely used in different end-use industries such as automotive, construction, textiles, agriculture, industrial coatings, consumer plastics, and others. Consumer plastics accounted for the largest revenue share in global market in 2020. This can be attributed to increasing demand for consumer plastics such as PET bottles, food containers, and others. Increasing urbanization in developing countries, rising preference for greenhouse films in agriculture sectors, growing investments by private investors in the development of advanced UV light stabilizers and rising focus on research and development of nanotechnology are some key factors expected to drive revenue growth of the global UV light stabilizers market over the forecast period.

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Key Players - include Everlight Chemical, Evonik Industries AG, Lycus Ltd, Cytec Industries Inc., BASF, BYK-Chemie GmbH, AkzoNobel N.V., Mayzo Inc. Songwon Industrial Co., Ltd., and Chemtura Corporation.

Further key findings from the report suggest

In February 2021, Holland Colours launched Thermostretch UV stabilizer. This UV stabilizer is used in the production of PET dairy bottles.
HALS segment accounted for largest revenue share in the global market in 2020. This can be attributed to rising application of hindered amine light stabilizers to protect polymer and plastic products and increasing demand for hindered amine light stabilizers in automotive and coating industries.
North America is expected to register significant revenue growth over the forecast period. Rapid technological advancements and rising number of housing projects are some major factors driving revenue growth of the market in this region.

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Type Outlook (Revenue, USD Billion; 2018-2028)

Hindered Amine Light Stabilizers (HALS)
UV Absorbers
Quenchers
Blends

Application Outlook (Revenue, USD Billion; 2018-2028)

Furniture & Interiors
Decking & Flooring
Packaging
Others

End-Use Outlook (Revenue, USD Billion; 2018-2028)

Automotive
Construction
Textiles
Agriculture
Industrial Coatings
Consumer Plastics
Others

Key Regional Markets Covered in the Report:

North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)

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Key Questions answered by the Report:

What is the expected year-on-year growth of the during the forecast period?
What key trends are expected influence revenue growth of the market going ahead?
Which region is expected to account for largest revenue share over the forecast period?
Which key companies are profiled in the report?

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