UV Light Stabilizers Market by 2023 – Key Manufacturers-Operating

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Portland, OR — (SBWIRE) — 09/28/2017 — UV light stabilizers are mostly used in flooring and decking applications to protect the floors and decks from the harmful effects of UV radiation due to their wide exposure to sunlight. In 2014, flooring application was the highest revenue generating segment of the overall UV light stabilizers market and is expected to maintain its dominant position throughout the forecast period, due the extensive usage of UV light stabilizers for all kinds of flooring

UV Light Stabilizers Market is expected to garner $373.5 million by 2020, registering a CAGR of 7.1% during the forecast period 2015-2020. The increasing level of UV radiation leads to degradation of materials such as plastics and wood. UV light stabilizers are used as coating substrates that minimize the harmful effect of UV radiation. UV absorbers, Hindered Amine Light Stabilizers (HALS) and quenchers have significant applications such as coating substrates for flooring, decking, furniture and interior & exterior parts of automobiles. Additionally, UV light stabilizers have found increased application across packaging industry and in agricultural tapes & films.

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The rising demand for wood and plastic coatings for protection against UV radiations is driving the world UV light stabilizer market. In addition, the increasing use of wood and plastics for decking applications has triggered the demand for UV light protection coatings, which in turn drives the UV light stabilizers market. The ongoing development of the housing and construction industries in as Asia-Pacific region is expected to grow in future. Eventually, this growth would drive the demand for UV light stabilizers globally. In addition, the use of nanotechnology in the coating industries would supplement the growth of UV light stabilizer market in future.

UV absorbers, Hindered Amine Light Stabilizers (HALS) and quenchers are the types of UV light stabilizers that have significant applications such as coating substrates for flooring, decking, furniture and for interior & exterior parts of automobiles. Additionally, UV light stabilizers have found increased applicability in the packaging industry and in agricultural tapes & films. HALS segment constituted 74% of the overall UV light stabilizer market by value, owing to its already established large adoption base and usability in many applications. HALS are preferred over other stabilizers due to their longer shelf life; thus, boosting the HALS market during the forecast period. UV absorbers, which currently occupy 23% of the total market, are witnessing increased adoption due to their cost-effectiveness, but they can be useful only for short-term exposure. Hydroxy-benzo-phenone and hydroxyl-phenyl-benzotriazole are the most preferred UV absorbers due to the advantage of being suitable for neutral or transparent applications.

The Asia-Pacific region dominates the UV stabilizer market followed by Europe and North America. The boom in construction and automobile industry, and the increased utilization of plastics in the APAC region, have contributed to highest market share of the region in the overall UV stabilizer market. The ongoing infrastructure developments in the Asia-Pacific region would boost the growth of the UV stabilizer market during the forecast period.

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