The global ultraviolet stabiliser market sales are expected to grow at a compound annual growth rate (CAGR) of 5.3% between 2023 and 2033, according to MR, a market research and competitive intelligence service. Accordingly, it is anticipated that by the end of 2033, the global market for UV stabilisers will be valued at US$2.4 billion.
Due to their increasing application in reducing the harmful effects of UV radiation on various polymers, the demand for ultraviolet stabilisers is expected to increase noticeably over the next several years. Additionally, it is anticipated that the coatings industry's growing use of nanotechnology will enhance prospects for target market expansion.
UV stabilizers are elements that are helpful to prevent degradation and augment the durability and properties of polymers by maintaining flexibility, strength, and appearance. They absorb radiation that is generated by artificial light sources or sunlight while simultaneously neutralizing the impact of UV rays. Rising R&D activities, increasing preference for greenhouse films in the agriculture industry, and growing urbanization in several emerging nations are estimated to augment the demand for UV stabilizers. Furthermore, rising investments to develop advanced UV light stabilizers are also expected to create growth opportunities for industry players.
UV light stabilisers that are commonly utilised include blends, UV absorbers, quenchers, and hindered amine light stabilisers (HALS). Additives known as UV absorbers are used to stop plastic and other polymer properties from degrading in environmental conditions. They shield materials while using chemical reactions to transform absorbed UV photons into heat and low-impact energy. By significantly reducing the production of radicals that lead to polymer degradation, ultraviolet stabilisers are frequently used to lessen photodegradation in plastics. An increase in R&D expenditures will also result in higher market value.
- The international research team of the Institute of Organic Chemistry at the University of Witwatersrand and Johannes Gutenberg University declared the use of cashew nut shell oil to produce UV absorbers for the introduction of sustainability in the UV filter.
In the automotive industry, UV stabilizers are expected to experience increased demand. Polymers that are used in automotive components should be capable to bear constant UV light exposure and harsh temperature. Producers can use the solutions from the target market to ensure durability and performance to enhance the thermal stability and service life of polymers. UV light stabilizers can limit color deterioration and the formation of microcracks in the parts of the automobile to retain their physical and aesthetic properties.
Expansion opportunities in the global market are projected to experience certain hindrances owing to the high costs that are related to the production of UV light stabilizer systems that need numerous raw materials such as sodium nitrite, benzoyl chloride, acetic acid, aluminum chloride, and others.
Key Takeaways from Market Study:
- The global ultraviolet stabilizers market is anticipated to advance at a CAGR of 5.3% from 2023 to 2033.
- The market in Germany is predicted to expand at a CAGR of 3.6% through 2033.
- The global market is valued at US$ 1.4 billion in the year 2023.
- Demand for ultraviolet stabilizers in Canada is estimated to increase at a CAGR of 4.3% through 2033.
- The market for ultraviolet stabilizers is set to reach US$ 2.4 billion by the end of 2033.
- The United States market was valued at more than US$ 300 million at the end of 2022.
“Factors such as the increasing requirement for non-deteriorating, UV-resistant, scratch-resistant, and improved ultraviolet stabilizers, along with growing awareness about the harmful effects of UV light on plastics, are driving growth opportunities in the global UV stabilizers market,” says a Fact.MR analyst.
Winning Strategy:
Key companies are incorporating various strategies, including novel product launches, to generate growth opportunities.
For instance,
- BASF SE, in 2019, launched a new product called NOR 31 under the Tinuvin series that is used in greenhouse films in the agriculture industry.
View Full Report: https://www.globenewswire.com/news-release/2023/01/18/2591287/0/en/ultraviolet-stabilizers-market-size-worth-us-2-4-billion-by-2033-cagr-5-3-fact-mr.html
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