UV Absorbers Market - Forecast(2023 - 2028)

UV Absorbers Market size is forecast to reach $1056.27 Million by 2025, after growing at a CAGR of 6.1% during 2020-2025. Applications such as car plastic, packagings, agricultural films, coatings, adhesives and personal care are the key reason for the growing demand in the UV absorber industry. The rise in the use of plastics for various applications contributes to the demand for UV absorbers. It also acts as an opportunity for research and development of innovative UV absorbers. Rise in awareness about UV absorbers is expected to propel the market. Furthermore, overall increases the growth of the UV Absorbers Industry over forecast period.

The “UV Absorbers Market report – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the UV Absorbers Industry.

 

By Product Type: Benzotriazole, Traizine, Benzophenone, and Others.

By Application: Adhesives, Cosmetics, Plastics, Coatings, and Others.

By End User: Construction, Personal Care, Agriculture, Automobile, and Others.

By Geography: North America, South America, Europe, APAC, Middle East and Africa

Benzotriazole type segment holds the largest share in UV Absorbers Market in 2019. Its widespread use in plastics, packaging, adhesives, and items of personal care as well as its wide safety scope are estimated to be extremely harmful in UV-A and UV-B areas. Compared to benzophenone, Benzotriazole has better protection against UV radiation, so it is also used for weathering outdoors over Triazine.

Plastic application holds the largest share in UV Absorbers Market in 2019, is growing at a CAGR of 6.5%. The growth in demand for plastics from packaging and agricultural films is mainly the reason for the expansion of the plastics market. When exposed to UV radiation, plastics such as poly vinyl chloride and polycarbonate are frequently deteriorated. UV radiations lead to chemical reactions in plastics, resulting in the disintegration and degradation of chemical and physical plastic properties, which contributes to the need for UV absorbers. Moreover, rapid automotive growth is expected to increase the market for UV absorbers for applications of coatings and adhesives.

Construction sector holds the largest share in UV Absorbers Market in 2019. UV Absorbers that enable plastics to withstand light and thermal exposure in demanding building and construction applications. Membranes made from polymeric sheets or plastic-coated textiles are widely used to prevent water penetration in a variety of building and construction applications from roofing to landfill liners. With the increasing use of membranes in regions with exceptionally high amounts of sunlight, the ability to meet the ever-increasing demands for life expectancy can be a challenge. The sun's ultraviolet light takes a severe toll on any surface exposed to it for an extended time. UV absorbers, stabilizers, and quenchers reduce this damage through a variety of actions. Using these additives offers multiple benefits for products that must stand in the sun and need to maintain their integrity.

APAC dominated the UV Absorbers Market share with more than 31%, followed by North America and Europe. The market for industrial UV absorbers in this area is expected to increase in industrialization and growth in end-use industries. It is anticipated that the growing automotive industry will boost demand for UV absorbers in automotive plastics, laminates and adhesives applications in this area. The UV Absorbers Market in this area is powered by fewer regulations. In addition, increased understanding of the advantages of UV absorbers has further helped increase demand in Asia Pacific, such as China, Japan and India.

The growth of the global UV absorbers market is expected to drive significant demand in the forecast period in agricultural films and the plastic industry for coating and adhesive applications. Additional factors expected to drive the UV absorbers' rising market and demand during the forecast period are relatively lower volatility and higher thermal stability that make it helpful for high temperature processing applications. In addition, the growth in the global UV absorber market during the forecast period is expected to further drive factors like safety, efficiency, attractiveness and sustainable production, due to easy molded containers and costs savings in packaging by UV protection by eliminating need for protection in the packaging material formula.

UV absorbers cause photo-oxidizing deterioration that can lead to the generation of radicals, decreased molecular weight, polymer chain breakdown, mechanical properties of materials degradation after an uncertain period. These associated factors have been projected to hinder the growth during the forecast period of the global UV absorber industry. Further forecasts are used to hinder the growth of the global UV absorber market during this projected period. Discoloration of dyes and pigments, sun-burnt, weathering, plastics yellowing, skin problems and other UV-related problems are predicted.

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the UV Absorbers Market. In 2019, the market of UV Absorbers has been consolidated by the top ten seven players accounting for XX% of the share. Major players in the UV Absorbers Market are BASF SE, Songwon, Clariant AG, Solvay S.A., Adeka Corporation, Addivant, Everlight Chemical Industrial Co., Milliken Chemical, Sabo S.p.A., and Huntsman Corporation and among other.