Market Overview
UV stabilizers are equipment manufactured to avoid degradation caused by exposure to ultraviolet radiation. They act as a shield for short and long exposures to UV radiations of the sun. UV stabilizers market are gaining traction owing to its action as a coating to plastics which includes cosmetics and films to protect the substance from long-term UV degradation effects of ultraviolet radiation.
Prolonged exposure of plastics and polymers to UV rays may result in photo-degradation. Photo-degradation process occurs during prolonged exposure of a polymer to UV-radiations thereby, deteriorating the physical properties of the substance such as color change, material strength loss, elongation and tensile strength properties or chalking of substances. As a result, manufacturers employ UV light stabilizers to protect the exposed components to prevent damage.
UV stabilizers such as absorbers, hindered amine light stabilizers (HALS) and quenchers are widely deployed in applications including coating substrates for flooring, decking, furniture, and interior and exterior parts of automobile.
Absorbers are light stabilizers that absorbs the UV radiation by competing with the chromophores. The absorbers convert the harmful UV radiation into harmless infra-red radiation which is then dissipated through the polymer matrix. These absorbers include carbon black, hydroxybenzophenone and hydroxyphenylbenzotriazole.
Quenchers are used to change the excited state of the chromophores to the ground state by an energy transfer process. The energy transfer agent functions by quenching the excited state of a carbonyl group formed during the photo-oxidation of a plastic material and through the decomposition of hydroperoxides. This prevents bond cleavage that leads to the formation of free radicals. Nickel quenchers are a common type of quenchers used in agricultural film production.
HALs are effective for light stabilization of polyolefins, coatings, styrene polymers, polyamides, polyurethanes, polyacetals, adhesives and sealants. They limit the photodegrading process, provide durability and long shelf life. HALS find applications in extrusion, blow molding, fibers, films, tapes and injection molding.
Market Dynamics
The global UV stabilizers market is expected to growth during the forecast period (2017-2023) owing to the increased awareness about the harmful effects of ultraviolet light on plastics. Prolonged exposure of plastics to sunlight results in surface chalking and changes the physical properties of polymers. Based on type, Hindered Amine Light Stabilizers (HALS) is expected to exhibit great potential during the forecast period. Packaging is expected to be the fastest growing application segment during the forecast period. HALS and UV Absorbers are the highly-preferred types of UV stabilizers in the packaging sector.
Trends
The key trend observed in the global UV stabilizers market is the on-going development in infrastructure which has led to companies opting for low cost raw materials such as plastic and wooden materials. In order to prevent the plastics and wood from high exposure of sunlight, UV stabilizers are applied as a coating thereby, fuelling the growth of UV light stabilizers.
Additionally, rising investments by foreign companies, growing production facilities, strong industrial base for packaging and automotive sectors and increasing standard of living are the major factors contributing to the growth of the UV stabilizers market in the Asia-Pacific region.
Growth Drivers
The global market for UV stabilizers is driven by its ability to provide low-cost solutions, improved weatherability and low volatility to applications such as high-performance thermoplastics, polyurethanes, polymers, construction and packaging. Additionally, non-degradable and UV-resistant plastic packaging components are gaining traction from PET bottles, and food and beverage containers which have propelled the growth of UV stabilizers in the packaging application market. In APAC region, the demand for UV stabilizers is increasing due to the growing investments from foreign companies, increasing production facilities, strong industrial base for packaging and automotive sectors, and increased standard of living.
In the global UV stabilizers market, HALs is expected to be the fastest-growing segment during the forecast period. This is due to the increasing demands from the packaging and automotive industries. Additionally, HALs find applications in food and non-food packaging.
The global market for UV stabilizers is expected to witness a significant growth in demand from the Asia-Pacific region. This is on account of the rise in new product development and expansion activities that have been undertaken by different companies for increasing their production capacity by the countries in the Asia-Pacific region mainly China, South Korea and Japan. Additionally, increasing population and rapid urbanization in these countries is enhancing the demand for packaged goods and automotive thereby, increasing the growth of the global UV stabilizers market during the forecast period. Rising investments by foreign companies, growing production facilities, strong industrial base for packaging and automotive sectors, and increasing standard of living are the other major factors contributing to the growth of the market for UV stabilizers in the region.
Restraints
Although the global UV stabilizers market is gaining importance, few factors such as volatility in UV stabilizers raw material prices and stringent governmental regulations still remain to act as a bottleneck towards the growth of UV stabilizers in the global market.
Competitive Landscape
The key players operating in the global UV stabilizers market are BASF SE, Clariant International Ltd., Cytec Industries, Inc., Evonik Industries AG, Songwon Industrial Co., Ltd., ALTANA AG, Chemtura Corporation, Addivant, Lycus Ltd and Mayzo, Inc.
Market Segmentation
By type
- UV absorber
- Hindered Amine Light Stabilizers (HALS)
- Quenchers
By application
- Automotive
- Automotive component
- Automotive coating
- Agriculture
- Agriculture films
- Agriculture equipment
- Building and construction
- Flooring and decking
- Furniture
By Region
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Malaysia
- Thailand
- Rest of Asia-Pacific
- North America
- Europe
- Germany
- U.K
- France
- Italy
- Turkey
- Rest of Europe
- Rest of the World (RoW)
- Brazil
- Middle East and Africa
- Rest of RoW
