Market Insights
By 2028, the market for UV absorbers is anticipated to reach USD 1,350 million, growing at a 6.5% CAGR between 2023 and 2028.
UV absorbers are polymer additives used to improve the functionality, stability, durability, and shelf life of plastics, polymers, and wood components. These parts are utilized in a variety of industries, including adhesives & sealants, packaging, automotive, and agriculture.
The market for UV absorbers is expanding as a result of rising demand from industries such as plastics, coatings, adhesives, and personal care. In order to provide efficient UV resistance for brief exposures, UV absorbers are another important category of UV stabilizer utilized in neutral or transparent applications. One of the main uses for UV absorbers in emerging markets is plastics.
Segments' Analysis
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Segmentations
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List of Sub-Segments
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Dominant and Fastest-Growing Segments
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Type Analysis
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Benzophenone, Benzotriazole, and Triazine
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Benzotriazole is anticipated to remain the biggest market for UV absorbers in the years to come.
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Regional Analysis
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North America, Europe, Asia-Pacific, and The Rest of the World
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Asia Pacific is expected to remain the largest and fastest-growing market over the next five years.
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Application Analysis
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Plastics, Coatings, Adhesives, and Personal Care
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Plastic is expected to remain the largest and fastest-growing market over the next five years.
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UV Absorber Type
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.
Application Type
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. 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.
The UV absorber market is segmented into the following categories:
By Type
- Benzophenone (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Benzotriazole (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Triazine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Application Type
- Plastics (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Coatings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Adhesives (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Personal Care (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, and The Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and The Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Argentina, and Others)
Key Players
The following are the key players in the UV absorber market:
- BASF SE (Germany)
- Huntsman Corporation (US)
- Clariant AG (Switzerland)
- Solvay S.A. (Belgium)
- Everlight Chemical Industrial Co. (Taiwan)
- Songwon (South Korea)
- Adeka Corporation (Japan)
- Milliken Chemical (US)
- Addivant (US)
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s UV absorber market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order 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, Product 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 existing and new players
- Key success factors
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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