The global UV light stabilizers market is expected to reach
USD 331.4million by 2022, according to a new report by Grand View Research,
Inc. Growing demand from the wood coatings industry for ultraviolet radiation
protection is expected to remain a key driving factor for global UV light
stabilizers market over the forecast period. These stabilizers prevent
discoloration, product decomposition and diminish lignin degradation of wood.
Low VOC emission level is another key factor that is presumed to positively
impact the global market. Complexities in the manufacturing process coupled
with high product cost are expected to challenge market profitability.
Decking & flooring was the
leading application segment and accounted for over 25% of total market volume
in 2014. Increasing construction spending in Asia Pacific and Middle East
coupled with recovery of construction industry in the U.S. is expected to drive
this segment over the forecast period. It is also expected to witness the
highest growth of 6.3% from 2015 to 2022.
Browse full research report on UV Light Stabilizers
Market: http://www.grandviewresearch.com/industry-analysis/uv-light-stabilizers-market
Further key findings from
the report suggest:
- Global UV light stabilizers market demand was 9,048.9
tons in 2014 and is expected to reach 14,218.3 tons by 2022, growing at an
estimated CAGR of 5.8% from 2015 to 2022.
- North America was the leading regional market and
accounted for 34.3% of total market volume in 2014. Recovery of U.S.
housing market coupled with government’s affordable housing schemes is
expected to drive the regional market. North America was closely followed
by Europe which is expected to witness moderate growth over the forecast
period.
- Asia Pacific is expected to witness the highest
growth of 7.9% from 2015 to 2022. Increasing construction spending in
India, China, Thailand, Vietnam and Indonesia are expected to drive the
regional market. In addition, rapid urbanization in these countries has
fueled furniture demand which has further driven UV light stabilizers
demand.
- The industry is highly fragmented and is
characterized by high level of competition among the industry
participants. Leading industry participants have been heavily investing in
R&D to develop superior products with an aim to cater to the growing
market demand. Some of the major companies include Everlight Chemical,
BYK-Chemie GmbH, BASF, Akzo Nobel N.V., Chemtura Corporation and Mayzo
Inc.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/paints-coatings-and-printing-inks
Grand View Research has segmented the UV light stabilizers
market on the basis of application and region:
UV Light Stabilizers Application Outlook (Volume, Tons;
Revenue, USD Million, 2012 - 2022)
- Furniture
& Interior
- Decking
& Flooring
- Others
UV Light Stabilizers Regional Outlook (Volume, Tons;
Revenue, USD Million, 2012 - 2022)
- North
America
- Europe
- Asia
Pacific
- RoW
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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