UV absorbers Market to Grow with a CAGR of 6.24% through 2028
Growing demand of UV absorbers in paints and coatings
industry is expected to drive the Global UV Absorbers Market growth in the
forecast period, 2024-2028.
According to TechSci Research report, “UV absorbers
Market – Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global UV Absorbers Market stood at USD 998.64
million in 2022 and is anticipated to grow with a CAGR of 6.24% in the forecast
period, 2023-2028. The initiatives taken by government based on UV absorbers has
led to favorable market conditions for the Global UV Absorbers Market. Several
factors contribute to the growth of various UV absorbers products.
Government initiatives based on UV absorbers aim to
promote the use of these compounds and protect the environment and human health
from the harmful effects of UV radiation. By implementing regulations and guidelines,
governments can ensure that industries and products adhere to the necessary
standards to mitigate the risks associated with UV exposure.
For instance, one example of a government initiative
is the enforcement of regulations that require the use of UV absorbers in
specific industries and products. This proactive approach ensures that
consumers are provided with effective protection against UV radiation.
Governments may also mandate the inclusion of UV absorbers in sunscreen
formulations, guaranteeing that individuals have access to products that offer
adequate safeguarding against the damaging effects of the sun's rays.
Moreover, regulations can be put in place to promote
the use of UV absorbers in various materials such as plastics, coatings, and
other substances. By enhancing their UV resistance and durability, these UV
absorbers contribute to the longevity and performance of these materials,
reducing the environmental impact and improving overall product quality.
Through these comprehensive measures, government
initiatives create a framework that encourages the utilization of UV absorbers,
safeguarding both the environment and human health from the detrimental effects
of UV radiation.
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The global UV absorbers market is witnessing
significant growth, propelled by the rising demand for UV absorbers in the
paints and coatings industry. UV absorbers play a pivotal role in safeguarding
paints and coatings against the detrimental effects of UV radiation, thereby
elongating their lifespan and augmenting their performance.
UV radiation emanating from the sun can cause
substantial damage to surface exposed to sunlight. It can result in color
fading, chalking, cracking, and overall deterioration of paints and coatings.
This not only impacts the aesthetic appeal of surfaces but also diminishes
their durability and protection against environmental factors.
To address this concern, the paints and coatings
industry has embraced UV absorbers as an effective solution. UV absorbers are
chemical compounds that absorb UV radiation, preventing it from reaching the
paint or coating surface. By absorbing and dissipating UV energy, these
additives assist in preserving the integrity and performance of paints and
coatings over time.
The Global UV Absorbers Market is segmented into type,
application, regional distribution, and company
Based on its type, the Benzotriazole segment held the
largest share in the market. Benzotriazole derivatives are known for their
exceptional UV light stabilization properties. Specifically developed for
plastics and coatings, these UV light stabilizers exhibit remarkable UV
diffusion characteristics that extend beyond the UV range. With expanded
capacities for UV absorption, they offer superb protection to plastics, upper
layers, and various light-sensitive substrates. These stabilizers are highly suitable for weathering
thermosets, organic substrates, and coatings, providing enhanced durability and
longevity. When combined with other HALS light stabilizers, they can offer even
greater protection against gloss reduction, cracking, color shifting,
blistering, chalking, and galvanic corrosion. To achieve optimal results, it is recommended to
incorporate these stabilizers into formulations along with air-dried alkyd or
humidity treatment PU systems, suitable for both room temperatures and elevated
temperatures.
Based on region, Asia Pacific segment is expected to
grow during the forecast period. The Asia Pacific region, with its large population and
growing disposable income, has witnessed a significant surge in consumer demand
for personal care products, including sunscreens and cosmetics. This demand is
primarily fueled by the increasing awareness among consumers about the
importance of skin protection and their willingness to invest in effective UV
absorbers.
In addition to the rising consumer awareness,
favorable government regulations and initiatives aimed at promoting sun
protection and reducing the risk of UV-induced skin damage have played a
crucial role in driving the demand for UV absorbers in the region. These
regulations not only highlight the significance of incorporating UV absorbers
into various products but also create a supportive environment for market
growth in Asia Pacific. The combination of a booming population, higher
disposable income, increased consumer awareness, and supportive government
regulations has established Asia Pacific as a dominant player in the global UV
absorbers market. This region continues to witness remarkable growth as more
individuals prioritize their skin health and seek high-quality products that
offer effective UV protection.
Major companies operating in Global
UV Absorbers Market are:
- Amfine Chemical Corporation
- Anhui Best Progress Imp & Exp
Co.,Ltd
- BASF SE
- Clariant AG
- Everlight Chemical Industrial Corp,
- Greenchemicals SpA
- Hangzhou Disheng Import&Export Co.,
Ltd.
- Hunan Chemical BV
- Huntsman International LLC
- Rianlon Corporation
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“Growing application of UV absorbers in various end
user industries are key drivers of the UV absorbers market. Growth in
competitive landscape and presence of well-established companies in the market
who are dedicated to enhance their productivity of UV absorbers with every
passing year are anticipated to register an impressive growth to Global UV
Absorbers Market in the forecast period.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“UV absorbers Market By
Type (Benzophenone, Benzotriazole, Triazine), By
Application (Plastics, Coatings, Adhesives, Personal Care & Others), By Region, By Competition Forecast &
Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
UV Absorbers Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global UV Absorbers Market.
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