Asia Pacific UV light stabilizers market share is expected to capture a major chunk of the overall market size by 2025. The region has the largest agricultural production and therefore rising irrigation practices will push demand for polymer goods such as PVC pipes.
— The automotive industry finds wide-ranging applications in the global UV light stabilizers market share. Currently, the automotive industry is making a larger emphasis on creating lightweight, and consecutively, fuel efficient vehicles. It includes both electric and conventional fuel vehicles. According to the European Environmental Agency, sales of electric vehicles in Europe increased by 51% in 2017, as compared to 2016 sales.
Furthermore, Asia Pacific is also observing a progressive automotive demand owing to its high economic progress. Owing to the tropical nature of the region, UV light stabilizers demand from the region is poised to increase noticeably over the forecast period. Growing regulations & restrictions on the polymer and related products use may hinder the UV light stabilizers market size in the coming future.
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UV Light Stabilizers Market size will experience substantial progress owing to rising product demand as an anti-degradation additive in polymers over the forecast timeframe. Ultraviolet radiation from sunlight affects natural and synthetic polymers. If the polymer products are not UV stable, it is observed to develops cracks or result in decoloring, chalking and structural disintegration. UV light stabilizers are chemical compounds which interfere with chemical and physical light-induced degradation.
Based on the end-users, UV light stabilizers market share is bifurcated into automotive, construction, textiles, agriculture, industrial coatings, adhesives, consumer plastics, and others. Automotive and construction industry will be the key end-users driving the UV light stabilizers market in the coming future. The amount of UV light received by the Earth’s surface is about only 6% of the total sunlight reaching it. However, that 6% is damaging for both human health and properties. Polymers such as aliphatic polyesters, polyethylene, and polymethyl methacrylate do not absorb the UV light and are photochemically stable between 300 to 400 nm.
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On the other hand, polymers such as aromatic polyurethanes, polystyrene and styrene copolymers, polyesters and polyepoxides are susceptible to photodegradation. A number of these polymers are used in a variety of end-user industries. For example, polystyrene and polyurethanes are used to make a number of automotive plastic parts such as foam seating, displays, elastomeric wheels, and tires equipment housings, etc. In the construction industry, polystyrene is used as basic building blocks to make furniture. The wide-ranging application of polymers and their resulting exposure to UV light during use automatically is likely to boost its demand as an essential polymer additive over the forecast period.
Asia Pacific UV light stabilizers market share is expected to capture a major chunk of the overall market size by 2025. The region has the largest agricultural production and therefore rising irrigation practices will push demand for polymer goods such as PVC pipes. The physical loss from UV light may result in the water and related agricultural losses.
These developments are likely to increase product demand for agricultural applications. On the other hand, the region is also progressing in terms of industrialization. According to the Asia Development Bank, Asia Pacific is expected to double its global gross domestic product (GDP) to 52 percent by 2050. As a result, the automotive, consumer plastic and construction industry are estimated to grow leaps and bounds in the region.
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The companies functioning in UV light stabilizers market share are BASF, Ampacet Corporation, Addivant, Mayzo, Inc., Materials Technology Limited, SONGWON, Everlight Chemical, Lycus Ltd., The Cary Company, AkzoNobel N.V, and Colortek (India) Ltd.
Name: Arun Hedge
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Organization: Global Market Insights, Inc.
Release ID: 88912128