PORTLAND, Oregon, November 3, 2015 /PRNewswire/ --
A new report by Allied Market Research titled, "World UV Light Stabilizer-Market Opportunities and Forecast, 2014-2020," forecasts that the global UV light stabilizer market would garner $373.5 million by 2020, registering a CAGR of 7.1% during the forecast period of 2015-2020. Asia Pacific is the highest revenue generating region owing to the large industrial base of construction, automobile and packaging industry. Additionally, the increasing awareness and exposure of different objects and materials to UV radiation and its degradation effect on the same would boost the demand for UV light stabilizers.
To request more information about the report, visit the website at https://www.alliedmarketresearch.com/uv-light-stabilizers-market
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.
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.
The Asia-Pacific region dominates the global 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.
Key Findings of the Study
- The growth of global UV stabilizer market would be supplemented by the increasing demand from the construction, automobile and plastic industry, to protect the exposure of objects and materials to UV radiations
- Hindered amine light stabilizers (HALS) segment would account for the maximum revenue share throughout the forecast period owing to their durability and usability in different applications
- The boom in the construction industry would lead to rise in the adoption for UV stabilizers in applications like flooring, decking and furniture coatings
- The Asia-Pacific region had generated around 50% of the total market revenue in 2014 and would continue to maintain this position during the forecast period.
The report outlines the competitive environment of the global UV light stabilizer market and provides a comprehensive study of the key organic and inorganic strategies adopted by key market leaders. Several companies are focusing on product launches and expansions as their key strategies to improve their market foothold. The key companies profiled in the report are ALTANA AG (BYK-Chemie GmbH), BASF SE, Akcros Chemicals Ltd., Cytec Industries, Inc., Mayzo, Inc., Chemtura Corporation, AkzoNobel N.V., Everlight Chemical Industrial Co., Clariant Ltd. and Lycus Ltd.
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SOURCE Allied Market Research