UV Stabilizers Global Market Report 2021: COVID-19 Growth And Change

Major players in the UV stabilizers market are Addivant, BASF SE, Clariant AG, Solvay, Adeka Corporation, Songwon Industrial Ltd., Valtris Specialty Chemicals, ALTANA AG, Mayzo Inc., Lycus Ltd, Everlight Chemical Industrial Corp., Chitec Technology Co. Ltd., and SABO S.p.A.

The global UV stabilizers market is expected to grow from $1.27 billion in 2020 to $1.35 billion in 2021 at a compound annual growth rate (CAGR) of 6.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1.80 billion in 2025 at a CAGR of 7.5%.

The UV stabilizers market consists of sales of UV stabilizers that prevent chemical degradation.UV stabilizers absorb the radiation coming from the sun or artificial light source, neutralize the light rays, and thus increase the strength of the material by lowering cracks of the products.

UV stabilizers are also used in indoor or outdoor applications such as coating and paint products.

The main types of UV stabilizers are hindered amine light stabilizers (HALS), UV absorbers, and quenchers.Hindered amine light stabilizers are chemical compounds containing an amine functional group and act as radical scavengers.

UV absorbers are used to dissipate ultraviolet light into a lower energy state and protect polymers by preventing the harmful ultraviolet light from degrading the polymer. These UV stabilizers are used by architectural, agriculture, automotive, furniture, and packaging industries for coatings, adhesives, sealants, and plastics.

Asia Pacific was the largest region in the UV stabilizers market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The volatility in the raw material prices for UV stabilizers has restrained the UV stabilizers market.The production of UV stabilizers uses raw materials such as benzoyl chloride, benzene, aluminium chloride, sodium nitrite, acetic acid, and others.

The prices of these raw materials fluctuate regularly.Depending upon the price and availability of the raw materials, the manufacturing cost of UV stabilizers is affected adversely.

Prices of some of the raw materials used for the production of UV stabilizers are Benzoyl Chloride for $37.1 for 1000g, Benzene for $696.7 per MT, and Sodium Nitrate for $40 for 1 kg. The prices of raw materials are continuously changing as per market situations such as availability, demand, and supply. This leads to fluctuation in the prices of raw materials used for the production of UV stabilizers.

The increase in the production of vehicles by the automotive industry and the use of packaging contributed to the growth of the market.Due to the increasing population along with the improved standard of living and urbanization, there is a growing demand for automobiles.

The automotive industry manufactures lightweight vehicles utilizing plastic materials along with UV stabilizers to promote the durability of vehicles’ components.Automotive manufacturers are expanding in China, India, and European countries.

As per OICA, the number of vehicles produced in China is 25.72 million, the USA is 10.88 million, Japan is 9.68 million, Germany is 4.66 million, and India is 4.51 million. Moreover, the growing population demands well-packed food, well-constructed houses, and cars. The United Nation projected that the world’s population is expected to reach 9.7 billion by 2050. The increasing awareness about UV rays, increased the adoption of UV stabilizers to protect materials from degradation and improve the strength, thereby driving the market.

The UV stabilizer manufacturers are expanding into new geographical areas such as Latin America and Europe.For example, in July 2020, Valtris Specialty Chemicals expanded the production of benzyl derivatives in Europe.

The benzyl derivatives are one of the raw materials used to manufacture UV stabilizers.This development helps the company to increase the production of UV stabilizers and revenue from it in near future.

Similarly, in April 2019, Solvay launched two UV stabilizer series for the Brazilian market. The Cyasorb Cynergy Solution M528 for injection and blow-molded applications and Cyasorb Cyxtra V9900 for automotive interior and exterior parts

The countries covered in the UV stabilizers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.