UV Absorber Market Analysis | 2023-2028

Market Insights

The UV absorber market is likely to grow at a CAGR of 6.5% during 2023-2028 to reach USD 1,350 million in 2028.

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Market Dynamics

Introduction

A UV absorber, also known as a UV stabilizer or UV blocker, is a substance that absorbs ultraviolet (UV) radiation from sunlight. UV absorbers are commonly used in various products and materials, including plastics, coatings, textiles, and skincare products, to protect them from the harmful effects of UV radiation.

UV radiation from the sun can cause degradation, discoloration, and deterioration of materials over time. UV absorbers work by absorbing UV radiation and converting it into harmless heat energy, thus preventing it from damaging the material or product.

Market Drivers

Increased Demand from the Textile Sector Will Drive Market Expansion

Due to notable advancements in research, there is an increasing demand for ultraviolet (UV) absorbers. Exploring new potential uses for UV absorbers in various industrial sectors is still largely dependent on research and development activities. The market for UV absorbers has grown significantly over the last few decades because they are necessary for absorbing UV radiation and turning it into heat or kinetic energy. Furthermore, the textile industry is increasingly using UV absorbers to stop the photo-oxidation and photo-aging processes. According to current trends, the textile industry is seeing a continued increase in the use of UV absorbers. Still, the demand from the automotive, construction, and cosmetics sectors is also growing considerably.

Key Players

The following are the key players in the UV absorber market:

• Adeka Corporation (Japan)
• Addivant (US)
• BASF SE (Germany)
• Clariant AG (Switzerland)
• Everlight Chemical Industrial Co. (Taiwan)
• Huntsman Corporation (US)
• Milliken Chemical (US)
• Solvay S.A. (Belgium)
• Songwon (South Korea)

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Type

"UV absorber market is dominated by the benzotriazole type during the forecast period"

The market is segmented into benzotriazole, benzophenone, and triazine. In terms of volume and value, the UV absorber market is dominated by the benzotriazole type. To shield polymers from UV rays, benzotriazoles are utilized in a variety of coating applications, including personal care, adhesives, coatings, printing, and plastics. In terms of value and volume, benzophenone is the UV absorber market's second-fastest-growing type category. Their widespread use in sectors including automotive, packaging, coatings, adhesives, and personal care, among others, is primarily responsible for this expansion. Among all substances, benzophenone has the lowest price.

By Application Type

"The market share leader and fastest-growing segment is the plastics industry during the forecast period"

The market is segmented into plastics, coatings, adhesives, and personal care. Rubber, textiles, and printing inks are a few more products that utilize these. The market share leader and fastest-growing segment is the plastics industry. The increasing demand for plastics in packaging, automotive, and agricultural films is the main factor fueling the rise of the plastics application category.

Regional Analysis

"Asia-Pacific is expected to remain the largest market for UV absorbers during the forecast period"

Asia-Pacific is expected to remain the largest market for UV absorbers during the forecast period. In terms of both value and volume, the market in the Asia-Pacific region is predicted to develop at the highest CAGR between 2023 and 2028. The increased usage of UV absorbers in industrial hubs is mostly responsible for this expansion. The demand for UV absorbers in the Asia Pacific area is being further fueled by the expanding usage of plastics in automotive, packaging, and agricultural films.

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Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s functional UV absorber market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The UV absorber market is segmented into the following categories:

By Type

• Benzophenone
• Benzotriazole
• Triazine

By Application Type

• Plastics 
• Coatings
• Adhesives
• Personal Care

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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