UV Stabilizers Market Share

APAC Market Forecast

The UV stabilizers market in Asia Pacific is poised to witness the highest share of 35% during the forecast timeframe. This can be ascribed on the back of the growing polymer and plastics industry in developing countries, especially China, and India.

Furthermore, owing to its tropical location, the APAC region experiences sunshine all year, exposing it to more dangerous UV rays. This is another major factor behind the rising demand for UV stabilizers in the region. Along with this, the growth in the food and beverage industry is projected to boost the market expansion as UV stabilizers are used in food packaging to protect it from UV rays and can store and transport it in the long term. Annually, India put away 20 billion food & beverage packages. By 2030, the country is expected to consume around 50 billion packages, with an 8% growth rate for beverage packaging and packaging would be containing UV stabilizers. 

North American Market Statistics

The UV stabilizers market in North America is set to grow substantially and mark a lucrative market value between 2023 – 2037. The market in this region is expected to grow owing to the higher adoption of advanced solutions, along with the increasing import of polymers, in Canada and the U.S.

Moreover, the increasing health awareness amongst the population regarding the harmful effects of UV rays, especially in the food industry is further anticipated to boost the market growth. The U.S. Food and Drug Administration oversees the safety of food packaging, especially polymers that come into contact with food. Therefore, this factor is also projected to contribute to the market growth.