UV Absorbers Market Forecasts to 2028 – Global Analysis By Application (Plastics, Personal Care Coatings), Absorbers Type (Benzophenone, Benzotriazole, Triazine), and By Geography

UV Absorbers Market Forecasts to 2028 – Global Analysis By Application (Plastics, Personal Care Coatings), Absorbers Type (Benzophenone, Benzotriazole, Triazine), and By Geography

According to Stratistics MRC, the Global UV Absorbers Market is accounted for $556.18 million in 2022 and is expected to reach $912.42 million by 2028 growing at a CAGR of 10.1% during the forecast period. Ultraviolet absorbers protect materials by converting absorbed ultraviolet rays into low-impact heat and energy through chemical reactions. Ultraviolet absorbers are mainly used to curtail photodegradation in plastics by playing a key role in suppressing the generation of radicals that cause plastic to degrade.

According to CAAM (China Association of automobile manufacturers), China witnessed a sale of 2,167,000 cars in July 2017. According to American Academy of Dermatology, it is estimated that 9,730 persons die from melanoma cancer in 2017. This has augmented the use of cosmetic products, thereby adding to the growth of UV absorbers market. New investments in Qatar for the FIFA World Cup 2022, the demand for UV absorbers is rising substantially. This growth in demand is mainly driven by the construction of hotels, stadiums, malls, and public infrastructure.

Market Dynamics:

Driver:

Upsurge in level of UV radiations

Synthetic polymers such as plastics as well as naturally occurring polymer materials such as wood are widely used in building construction and other outdoor applications where they are routinely exposed to sunlight. The UV-B content in sunlight is known for adversely affecting the mechanical properties of these materials, casting a doubt over their usability. Any increase in the solar UV-B content owing to partial ozone depletion would therefore tend to decrease the outdoor service life of these materials.

Restraint:

High Cost

The price for totalling UV stabilizers would eventually lead to a price hike in the product. Customers incur the extra burden of cost. HALS is the most common type of stabilizer, which is used in numerous applications such as flooring, decking, and automotive. The maximum implementation of HALS is credited to its early adoption as a UV stabilizer and comparatively high shelf life compared to other UV stabilizers. However, the cost of HALS is high, thereby limiting the market industry.

Opportunity:

Increasing demand product improvements and disposable income

Conservative UV absorbers are organic molecules with several chemical structures. They are incapable of exhibiting long-term stability in coatings. Inorganic compounds such as titanium dioxide, ceria, and zinc oxide absorb radiations in the UV region and they have the additional advantage of greater long-term protection. Their disadvantage is that because they are solid particles they can reduce the transparency of the coating film. This effect can be minimized by reducing their particle size to nanometers, the smaller the particle size, the greater the transparency. These factors create opportunity for the market.

Threat:

Effects of UV Absorbers

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

Covid-19 Impact

The COVID-19 pandemic has adversely impacted the UV Absorbers market forecast as huge workforce of enterprises across the globe is working from home. This led to decline in tourism, which, in turn, reduced the demand for light stabilizers. Although the COVID-19 pandemic has forced field work of several major projects to halt temporarily, the UV Absorbers market opportunity is expected to remain robust with cumulative number of shipments being marginally unaffected in the next three-year period from 2020.

The Plastics segment is expected to be the largest during the forecast period

The Plastics segment is expected to be the largest during the forecast period. 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 polyvinyl chloride and polycarbonate are repeatedly declined. 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.

The Benzotriazole segment is expected to have the highest CAGR during the forecast period

The Benzotriazole segment is expected to have the highest CAGR during the forecast period, as it is extensively used in plastics, packaging, adhesives, and items of personal care as well as its wide safety scope is 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.

Region with highest share:

North America is projected to hold the largest market share during the forecast, owing to technological maturity and high investment in the Research & Development province. Moreover, the high demand for lightweight plastics of quality in the automotive sector. With the increasing demand for plastic products, the demand for the UV stabilizers Absorbers will boost in the province.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to rapid industrialization and demand from end-use industries such as plastics and coatings in the region. Development of the automotive industry in countries such as China, India, and Japan in Asia-Pacific promotes the usage of UV absorbers in automotive plastic and coating applications. Moreover, strong demand for benzophenone and benzotriazole in adhesives and plastics applications for the automotive industry and rising awareness regarding UV absorbers benefits. Additionally, the escalating use of plastics in automotive, packaging, and agricultural films is further driving market in the Asia-Pacific province.

Key players in the market

Some of the key players profiled in the UV Absorbers Market include BASF SE, Valtris Specialty Chemicals, Songwon, Solvay S.A., Sabo S.P.A., Milliken Chemical, Lycus Ltd., LLC, Huntsman Corporation, Everlight Chemical Industrial Co., Dalian Richfortune Chemicals Co., Ltd. , Clariant AG, Chitec Technology Co., Ltd, Chemipro Kasei Kaisha, Ltd, Apexical, Inc, Adeka Corporation, Addivant, Shenzhen Xingshengdi New Materials Co., Ltd.

Key Developments:

In June 2018: Clariant AG entered into partnership with Beijing Tiangang Auxiliary Co. Ltd, for starting a facility of production of plastics and textile stabilizers. This joint venture is focused on combining the technology and production knowledge of both companies for providing process and light stabilizers.

In June 2019: Shenzhen Xingshengdi New Materials Co., Ltd. Announced that it used the plastic addictive for producing 5G base stations for major international telecommunications companies. The plastic additives of BASF shield the base stations from UV light. The company has been successful in developing UV absorbers, which were capable of stabilizing plastics against the UV radiations.

Absorbers Types Covered:
• Benzophenone
• Benzotriazole
• Triazine

Applications Covered:
• Plastics
• Personal Care
• Coatings
• Adhesives

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements