Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "UV Stabilizers Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global market for UV Stabilizers is experiencing notable growth, driven by increased demand across various sectors. A comprehensive market research report analyzing the industry trends and future prospects has been added to our extensive repository of industry studies.
The report highlights the significant role played by UV stabilizers in protecting materials from the harmful effects of ultraviolet radiation. The stabilizers are used in an array of applications, from automotive components to agricultural films, underscoring their importance in extending the lifespan and functionality of products exposed to sunlight and artificial light sources.
Hindered Amine Light Stabilizers (HALS), UV Absorbers, and Quenchers continue to dominate as the primary types. The report meticulously segments the market to analyze these types' specific roles across different industries, including architectural, agricultural, automotive, furniture, and packaging.
With a projected compound annual growth rate (CAGR) of 7.8% from 2023 to 2024, the market is expected to leap from $1.68 billion to $1.81 billion. Such growth is attributed to heightened demand and significant technological advancements in fields such as semiconductor manufacturing and the electronics industry at large.
In an analysis of key drivers, the surge in the automotive industry and an expanding global population are cited as major factors contributing to market growth. The report provides an in-depth examination of how UV stabilizer applications in vehicle manufacturing and packaging are responding to the corresponding rise in consumer demand.
Furthermore, the report spotlights the cosmetics industry’s influence on market expansion due to its reliance on UV stabilizers for product protection. Anticipated trends suggest an increased focus on nanotechnology integration, Industry 4.0 adoption, and continuous improvement of supply chain mechanisms, which could further bolster the market.
Innovations such as UV-C spectrum stabilizers are mentioned as competitive strategies employed by key market players. They are increasingly focused on developing longer-lasting stabilizers to continue enhancing various industry products’ performance and lifespan.
Analytics from the report show that the Asia-Pacific region held the largest market share in 2023, with expectations to be the fastest-growing region. The report encompasses detailed regional analyses, including significant contributions from China and emerging markets like India and Southeast Asia.
With insights into major companies shaping the market, the report comprehensively covers strategies, collaborations, and product innovations that are influencing the industry landscape. These companies, without region-specific focus, play pivotal roles in driving innovations and meeting consumer demand while ensuring product longevity in the face of UV radiation challenges.
The UV stabilizers market encapsulates an industry thriving on innovation, environmental consideration, and an unwavering commitment to quality. As we witness an upward trajectory, stakeholders are provided with data-rich, contextual understanding to strategize effectively for the face of an evolving global market.
A selection of companies mentioned in this report includes
- Addivant LLC
- BASF SE
- Clariant AG
- Solvay S.A.
- Adeka Corporation
- Songwon Industrial Co. Ltd.
- Valtris Specialty Chemicals Limited
- ALTANA AG
- Mayzo Inc.
- Lycus Ltd.
- Everlight Chemical Industrial Corp.
- Chitec Technology Co. Ltd.
- SABO S.p.A.
- Eastman Chemical Company
- Evonik Industries AG
- MPI Chemie BV
- Noroo Chemical Co. Ltd.
- AkzoNobel N.V.
- Ampacet Corporation
- Ashland Global Holdings Inc.
- Chemtura Corporation
- Cytec Solvay Group
- Everlight Americas Inc.
- Huntsman Corporation
- IGM Resins B.V.
- Lambson Limited
- Milliken & Company
- Omnova Solutions Inc.
- Wanhua Chemical Group Co. Ltd.
- Unitechem Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/yiplfb
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