UV Light Stabilizer Market Forecast and Industry Overview:
UV Light Stabilizers Market is expected to garner $373.5 million by 2020, registering a CAGR of 7.1% during the forecast period 2015-2020. The increasing level of UV radiation leads to degradation of materials such as plastics and wood. UV light stabilizers are used as coating substrates that minimize the harmful effect of UV radiation. UV absorbers, Hindered Amine Light Stabilizers (HALS) and quenchers have significant applications such as coating substrates for flooring, decking, furniture and interior & exterior parts of automobiles. Additionally, UV light stabilizers have found increased application across packaging industry and in agricultural tapes & films.
The rising demand for wood and plastic coatings for protection against UV radiations is driving the world UV light stabilizer market. In addition, the increasing use of wood and plastics for decking applications has triggered the demand for UV light protection coatings, which in turn drives the UV light stabilizers market. The ongoing development of the housing and construction industries in as Asia-Pacific region is expected to grow in future. Eventually, this growth would drive the demand for UV light stabilizers globally. In addition, the use of nanotechnology in the coating industries would supplement the growth of UV light stabilizer market in future.
Several companies are focusing on product launches and expansions as their key strategies to improve their market foothold. The companies profiled in the report are ALTANA AG (BYK-Chemie GmbH), BASF SE, Akcros Chemicals Ltd., Cytec Industries, Inc., Mayzo, Inc., Chemtura Corporation, AkzoNobel N.V., Everlight Chemical Industrial Co., Clariant Ltd. and Lycus Ltd.
The world UV light stabilizer market is segmented by type, application and geography. UV absorbers, Hindered Amine Light Stabilizers (HALS), Quenchers are the key types of UV light stabilizers. Among these, HALS occupies the highest percentage of global UV stabilizer market share, followed by UV absorbers. UV absorbers are cost effective, which would boost their market demand during the forecast period.
UV light stabilizers find application across residential and commercial sector as coating substrate in flooring, furniture, automotive coating, decking and others. Among the listed applications, UV stabilizers are majorly used for floor coating, making it the highest revenue generating application. Furniture is the second largest application followed by automobile coating.
Among the geographical segments, Asia-Pacific is the biggest market of UV light stabilizers, due to the increasing base of automobile, packaging and furniture industries. Europe occupies the second position, followed by North America
Top factors impacting world UV light stabilizer market
Increasing level of UV radiation
The increasing usage of refrigerator and AC, which releases gases that effects ozone layer, has significantly led to the rising level of UV radiation. According to NASA, the level of UV radiation has significantly risen in last 30 years, thereby causing degenerative effects on materials exposed to the sunlight. The increased UV radiation owing to the enhanced usability of gas emitting equipment supplements the growth of UV stabilizer market.
Escalating construction sector
The ongoing development in infrastructure has fostered the growth for construction industry. Companies are opting for alternative low cost raw materials such as plastic and wooden materials. In addition, these materials can be easily molded into many shapes, leading to prominent demand in flooring, decking and fencing applications. These materials with high exposure to sunlight lead to degradation effects and in order to minimize such effects, UV stabilizers were applied as a coating substrate on such materials. Hence, the rising adoption of plastic and wood in construction industry would fuel the growth of UV light stabilizers in order to retain their strengths.
Rising awareness about the harmful effect of UV radiation
People are becoming increasingly aware about the harmful effects of different materials such as plastics and wood. A polymer photo-degradation process occurs when a substance is exposed to UV radiation, resulting in deterioration of physical properties of the substance such as color change, material strength loss, elongation and tensile strength properties or chalking of surface. Therefore, manufactures use UV light stabilizers to protect components that are exposed to UV radiation in an effort to prevent damage and avoid losses.
- Current and future trends adopted by the key market players are highlighted to determine overall competitiveness of the market
- Porters Five Forces analysis and SWOT analysis of the key market players are provided to illustrate the business strategies adopted by buyers and suppliers
- The technology-effective drivers and opportunities are highlighted to describe the top factors responsible for the market growth
- Various operating segments of the self-service technologies market are carefully analyzed to measure the potential of the emerging market
- The quantitative analysis of the market through 2014-2020 is provided to elaborate the market potential
UV LIGHT STABILIZER MARKET SEGMENT
The market for world UV light stabilizer is segmented as:
Uv Light Stabilizer Market - By Type
- UV Absorbers
- Hindered Amine Light Stabilizers (HALS)
Uv Light Stabilizer Market - By Application
- Floor Coating
- Automotive Coating
- Furniture Coating
Uv Light Stabilizer Market - By Geography
- North America
- Asia Pacific