Ultraviolet (UV) absorbers are materials used to limit the harmful effects of ultraviolet rays in polymers. These absorbers help enhance the durability, performance, and stability of materials such as wood, plastic, and polymers, by absorbing UV rays. These absorbers find application in the construction, automotive, adhesives, sealants, and agriculture purposes for UV protection.
Rapid growth of various end-use industries such as construction and automotive coupled with growing awareness about the benefits of UV absorbers is projected to propel growth of the market globally. However, stringent government policies and rising price of UV absorbers pose as major restrains for the market growth.
UV Absorbers Market Taxonomy
On the basis of chemistry, the UV absorbers market can be segmented into:
On the basis of application, the UV absorbers market can be segmented into:
On the basis of end-use industry, the UV absorbers market can be segmented into:
Among chemistry, benzotriazole segment is the dominant segment, as this is widely used, owing to the multiple uses of benzotriazole in personal care, plastics, adhesives, and coatings industries.
The UV absorbers market in Asia Pacific is expected to witness substantial growth over the forecast period. Owing to the growing industrialization, and growing construction and automotive sectors in this region Furthermore, economic growth in Japan, China, and India has increased the demand for the automobiles, thereby boosting the market for UV absorbers. According to CAAM (China Association of automobile manufacturers), China witnessed a sale of 2,167,000 cars in July 2017.
North America UV absorbers market is expected to witness a surge in demand, owing to the rising awareness on harmful effects of UV radiations on living beings. According to American Academy of Dermatology, it is estimated that 9,730 persons die from melanoma cancer in 2017. This has augmented the use of cosmetic products, thereby adding to the growth of UV absorbers market.
New investments in Qatar for the FIFA World Cup 2022, the demand for UV absorbers is rising substantially. This growth in demand is mainly driven by the construction of hotels, stadiums, malls, and public infrastructure. Latin America and Africa are expected to witness sluggish growth over the forecast period.
Some of the major players operating in the UV absorber market are BASF SE, Huntsman Corporation, Clariant AG, Solvay S.A., Everlight Chemical Industrial Co., Songwon, Adeka Corporation, Milliken Chemical, Addivant, SABO S.p.A., Lambson Limited, Lycus Ltd., and Mayzo, Inc.
UV Absorbers Market: Key Developments