The UV light stabilizers market stood about USD 171 million in 2014. Rising demand for protection of wood coatings from ultraviolet radiations is predicted to drive this market during the forecast period. UV (ultraviolet) light stabilizers protect wood and other polymers from injurious ultraviolet rays.
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In the industry of wood coatings, the main role of these stabilizers is protection of wood from the harmful UV rays. Constant contact with UV rays can lead to product decay & stain. Moreover, UV light stabilizers reduce lignin deprivation in wood, thereby enhancing its quality.
They even reduce injurious ecological effects and ozone layer weakening. Construction investments in developing nations like India, China, Vietnam, Malaysia, Brazil, Russia, and Indonesia will prove advantageous for the UV light stabilizers market. However, industrialized complications and huge product costs could hinder the market.
Additionally, enormous industrialized spending can restrain the market. The market is segmented into applications and regions. Application segments comprise decking & flooring, furniture & interior, and others. ‘Others’ includes automotives. In the United States of America, decking & flooring captured more than 20 percent shares (regarding volumes) in 2014.
Furniture demand in developing nations is projected to assist this segment. Regional segments consist of Asia Pacific, Europe, North America, and rest of the world. North America led the UV light stabilizers market in 2014. It surpassed 30 percent share (with respect to demand) that year.
The region will be propelled by technological innovations in construction & furniture industries and escalating residential projects. EPA’s stern ecological regulations should also drive North America. Sluggish expansion in the wood packaging industry of Europe would reduce regional demand in the years ahead.
Stringent environmental policies by REACH should surface as a prospect for Europe. Asia Pacific is likely to experience maximum growth due to emerging furniture & construction applications in India, Taiwan, Japan, and China.
The worldwide UV light stabilizers market is segmented and has intense competition among its participants. Key ones include BASF, Akcros Chemicals, BYK-Chemie GmbH, Everlight Chemical, and Chemtura Corporation. Owing to their bio-friendly features, these stabilizers will be able to make their presence felt globally.
Information Source: Grand View Research