The report predicts the global UV Absorbers Market to grow at a healthy CAGR over the forecast period from 2022-2031.
“The UV absorbers market is projected to grow at a CAGR of 6.5% during the forecast period, in terms of value.”
The UV absorbers market was estimated to be USD 690.0 million in 2016 and is projected to reach USD 1,006.4 million by 2031, at a CAGR of 6.5% from 2022 to 2031. The growth of this market is mainly attributed to the rising awareness regarding the benefits of UV absorbers in varied applications, such as plastics, coatings, adhesives, and personal care, among others. Owing to the increasing applicability of UV absorbers, their demand is growing significantly across Asia Pacific, Europe, and North America. However, increasing the price of UV absorbers and government regulations are restraining the growth of the UV absorbers market. Emerging countries such as India, China, and Brazil are considered price-sensitive markets, and thus, they prefer using cheaper alternatives to organic UV absorbers.
“The benzotriazole type of UV absorbers is projected to witness the highest growth during the forecast period, in terms of both value and volume.”
The benzotriazole type of UV absorbers are extensively used in applications such as plastics, coatings, adhesives, and personal care, among others. They are typically used in outdoor applications as they demonstrate better performance in sunlight as compared to benzophenone. They have broad spectral coverage in both UV-A as well as UV-B region.
“North America region has the largest share of the UV absorbers market.”
North America has the largest share of the UV absorbers market in terms of value as well as volume. This is owing to the significant presence of end-use industries in this region, which is expected to raise the demand for UV absorbers in coatings, packaging, and printing inks. Some of the drivers for this market are the increasing demand for UV absorbers in applications such as automotive plastics, packaging, agricultural films, coatings, adhesives, personal care, and printing inks, among others, and the increasing importance of these materials to protect the polymers.
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In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted as follows:
- By Company Type: Tier 1 (43%), Tier 2 (43%), and Tier 3 (14%)
- By Designation: C Level (42%), D Level (29%), and Others (29%)
- By Region: North America (43%), Europe (29%), Asia Pacific (14%), Middle East & Africa (8%), and South America (6%)
Key players profiled in the report include 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), SABO S.p.A. (Italy), Lambson Limited (UK), Lycus Ltd., LLC. (US), Mayzo, Inc. (US), Everspring Chemical Co., Ltd. (China), Chitec Technology Co., Ltd. (China), MPI Chemie B.V. (Netherlands), Double Bond Chemical Ind., Co., Ltd. (Taiwan), Valtris Specialty Chemicals (US), Tianjin Jiuri New Material Co., Ltd. (China), Jingmen Meifeng Chemical Co., Ltd (China), Nanjing Union Rubber and Chemicals Co., Ltd. (China), Apexical, Inc. (US), Chemipro Kasei Kaisha, Ltd. (Japan), Dalian Richfortune Chemicals Co., Ltd. (China), and 3V Sigma S.p.A. (Italy).
This report covers the UV absorbers market, in terms of volume and value, and forecasts the market size till 2022. The report includes market segmentation based on type, application, and region. It also provides company profiles and competitive strategies adopted by key players in the UV absorbers market.
Key Benefits of Buying the Report:
This research report is focused on various levels of analysis–industry trends, market share analysis of key players, supply chain analysis, and company profiles, which together comprise and discuss the overall views on the competitive landscape; emerging and high-growth segments of the UV absorbers market; high-growth regions; and market drivers, restraints, opportunities, and challenges.
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