TAGS: Additives for Packaging
The UV Stabilizers Market is expected to grow from USD 1.2 billion in 2020 to USD 1.6 billion by 2025, at a CAGR of 5.5% during the forecast period. UV stabilizers are used in various industries, such as Packaging, Automotive, Agriculture, Building & Construction others. In the UV stabilizers market, the packaging is the key end-use application owing to the wide use in various end-use industries.
Packaging Application to Register Highest CAGR
The packaging application will continue to lead the
UV Stabilizers market. The key driver for the growth of
UV stabilizers in this application segment are the increasing disposable income, changing consumer lifestyles, increased use of high-performance thermoplastics, polyurethanes, polymers, and growing pharmaceutical and food & beverage industries in countries such as China, India, Japan, the U.S., and Germany, among others.
Asia Pacific accounted for the largest share of the
UV stabilizers market in 2020. Factors such as the rapidly increasing consumption of
UV Stabilizers in plastic, packaging, automotive industries in countries such as China, Japan, India, and South Korea have led to an increased demand for
UV stabilizers in the Asia Pacific region.
Source: M&M