Global UV Stabilizers Market To Cross US$1.50 Bln By 2021, At A CAGR Of 6.7%

Global UV Stabilizers Market to cross US$1.50 bln by 2021, at a CAGR of 6.7%

09-Mar-17

The global UV stabilizers market is projected to reach US$1.51 bln by 2021, at a CAGR of 6.7% from 2016 to 2021, as per Research and Markets. The growth of manufacturing industries in China is resulting in China becoming the largest consumer of UV stabilizers globally. The growing need for UV stabilizers in industries such as packaging and automotive due to rapid urbanization and increasing population in China and other countries across the Asia-Pacific region are driving the UV stabilizers market. UV stabilizers are majorly used in packaging and automotive industries. These industries are witnessing growth in the Asia-Pacific region, owing to increasing population and changing lifestyle of the people in countries of the region. This factor is fuelling the growth of the UV stabilizers market. However, the growth of the UV stabilizers market is restrained due to fluctuation in raw material prices as well as high production cost of UV stabilizers.

Based on type, the HALS segment is expected to lead the UV stabilizers market during the forecast period. HALS is characterized on the basis of its molecular weight, performance, volatility, and extractability. Different types of HALS are used in various applications, owing to their unique properties. HALS are majorly used in applications wherein thin materials are required such as fibers, tapes, and films. Furthermore, HALS can also be used in profile extrusion, blow molding, injection molding, and sheet extrusion, among others, in polypropylene (PP) and other polymers.
UV stabilizers protect packages and their contents from discoloration, and from damaging effects of UV radiations, thereby providing high quality, low volatile, and longer durability to packaging materials such as bottles, caps & closures, containers & drums, and films, among others. Based on application, the packaging segment is expected to lead the UV stabilizers market due to the increasing disposable income of people, changing consumer lifestyle, increased use of plastics, and growing pharmaceutical and food & beverage industries in countries such as China, India, Japan, the U.S., and Germany, among others.

The Asia-Pacific region is the largest market for UV stabilizers globally. The region is expected to witness significant growth in the UV stabilizers market due to the growth of the Chinese economy and rapid industrialization. China is a key consumer of UV stabilizers in the Asia-Pacific region as well as globally. Furthermore, the global shift in the production capacity from developed markets to emerging markets is a major factor fueling the growth of the UV stabilizers market in the region.