As per ESTICAST Research & Consulting, the global UV light stabilizers market was valued at $310 million in 2016, and is projected to reach $631.5 million by 2024, growing at a CAGR of 9.5% from 2017 to 2024. In 2016, the hindered amine light stabilizers (HALS) segment generated the highest revenue share in the global UV light stabilizers market. Among major regions, Asia-Pacific UV light stabilizers market was the highest revenue generating market valued at $156.8 million in 2016.
- Packaging- an emerging segment is expected to lead the UV stabilizers market
- HALS holds a dominant position in the market due to its varied applications and long shelf life
- Asia-Pacific gained the largest market share for UV light stabilizers, pertaining to its booming industrial sector
- Latin America, Middle East, and Africa are forecasted to grow with the highest CAGR of 12.05%.
- Construction and packaging segments lead the UV light stabilizers market.
- Quenchers are expected to witness high demand owing to developments in agricultural activities.
- HALS segment emerges as the market leader during the forecast period, in terms of revenue.
- The Asia-Pacific region led the global UV light stabilizers market by holding more than half of the total share.
- Some key players operating in the UV light stabilizer market 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. In September 2017 Clariant entered into a partnership with Tiangang for production of polymer additives and to maintain its foothold in Asian market.
For more information, check out ESTICAST’s report.