The global UV light stabilizers market size is expected to reach USD 2.06 Billion in 2028 and register a CAGR of 5.6% over the forecast period, according to the latest report by Reports and Data. Increasing demand for UV stabilizers in automotive sector for improving automotive part production, increasing usage of UV stabilizers in building and construction activities, and rising awareness regarding UV repellent or UV resistant products are major factors driving market revenue growth. UV light stabilizers are types of elements that are used to reduce harmful effects of ultraviolet radiation. UV Stabilizers help to prevent degradation, enhance physical properties of polymer and durability by managing their flexibility, appearance, and strength.UV light stabilizers are widely used in different end-use industries such as automotive, construction, textiles, agriculture, industrial coatings, consumer plastics, and others. Consumer plastics accounted for the largest revenue share in global market in 2020. This can be attributed to increasing demand for consumer plastics such as PET bottles, food containers, and others. Increasing urbanization in developing countries, rising preference for greenhouse films in agriculture sectors, growing investments by private investors in the development of advanced UV light stabilizers and rising focus on research and development of nanotechnology are some key factors expected to drive revenue growth of the global UV light stabilizers market over the forecast period.
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Some Key Highlights From the Report:
• In February 2021, Holland Colours launched Thermostretch UV stabilizer. This UV stabilizer is used in the production of PET dairy bottles.
• HALS segment accounted for largest revenue share in the global market in 2020. This can be attributed to rising application of hindered amine light stabilizers to protect polymer and plastic products and increasing demand for hindered amine light stabilizers in automotive and coating industries.
• North America is expected to register significant revenue growth over the forecast period. Rapid technological advancements and rising number of housing projects are some major factors driving revenue growth of the market in this region.
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