The global UV stabilizers market will be valued at USD 275 million in 2017 and is expected to reach almost USD 360 million by 2021, says Technavio.
Technavio has announced its latest market research report on the global UV stabilizers market under its plastics, polymers, and pigments portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like BASF, Clariant, Cytec Solvay Group, Evonik Industries, and SONGWON.
According to Ajay Adhikari, a lead analyst for plastics, polymers, and pigments research at Technavio, “Plastic products exposed to direct or indirect sunlight suffer surface chalking as the polymer becomes oxidized and lose physical properties. The need to prolong the life of these polymer materials is propelling the demand for UV stabilizers.”
Advancement in UV stabilizer technologies is a major driver for the growth of the global UV stabilizers market. Leading vendors such as Evonik Industries, BASF, and Cytec Solvay Group in the market are increasing their R&D spending to enhance their product portfolio and expand their customer base.
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Increasing demand from emerging economies
High-income levels and GDP in emerging economies such as China, India, South Africa, Brazil and the UAE players a key role in the growth of the market. Infrastructural growth, the growing furniture industry, and an abundant supply of raw materials in these countries are augmenting the growth of industry segments such as construction, automotive, and packaging, leading to an increase in the demand for UV stabilizers.
Key players adopted new product launch as their growth strategy
Vendors in the market are focusing on the introduction of new, improved products with capacity expansion to cater to increasing demand and keep pace with the competition in the market. Major players in the UV stabilizers market such as BASF, Evonik Industries, Cytec Solvay Group, Clariant, and SONGWON are leveraging new product development and launch as a key growth strategy to expand their market share in the UV stabilizers market.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global UV Stabilizer Market 2017-2021‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Nanocoatings Market 2016-2020
- Global Specialty Pigments Market 2016-2020
- Global Superabsorbent Polymer Market 2016-2020
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