UV Stabilizers Market Regional Analysis:
APAC Market Insight
The UV stabilizers market in Asia Pacific is poised to witness the highest share of 35% during the forecast timeframe. This can be ascribed to the thriving beauty and cosmetics industry. South Korea-based cosmetic labels, popularly known as K-beauty are booming globally. As one of the top 10 global markets, South Korea market size was USD 3.9 billion in 2022, emerging as the fourth largest cosmetics exporter after France, the U.S., and Germany. The cumulative skin care and cosmetic imports including sunscreens spiked in 2021 and were valued at USD 1.3 billion. As per the International Trade Association (ITA), France held an export value of USD 462 million, the U.S. was USD 274 million, and Japan USD 126 million.
China UV stabilizers market is driven by the high import of HS63304 products (make-up and skincare preparations, comprising sunscreens). The total import value stood at USD 14,430,329 in 2023, according to an ITC report. Regulations revolving around the production, procurement, and utilization of sunscreens in the country are governed by China's National Medical Products Administration (NMPA), Standardization Administration of the P.R.C. (SAC), China Association of Fragrance Flavor and Cosmetic Industries (CAFFCI), and China Food and Drug Administration (CFDA).
North America Market Insight
The UV stabilizers market in North America is set to grow substantially and mark a lucrative market value between 2026-2035. The UV stabilizers market in this region is expected to grow owing to the increasing import of polymers in Canada and the U.S. Of the total world ethylene polymer trade of USD 104 billion in 2022, the U.S. emerged as the top exporter and valued at USD 17.4 billion and Canada exports were worth USD 4.95 billion. Both countries were among the top five exporters, along with Saudi Arabia, Souths Korea, and Singapore. Furthermore, according to the OEC, the U.S. was among the top five exporters of natural fibers in 2022 and held an outbound value of USD 347 million.
The U.S. UV stabilizers market growth is ascribed to the thriving polymer manufacturing sector. In July 2024, the Economic Development Administration (EDA) recommended the Sustainable Polymers Tech Hub for grant funding of USD 51 million for the development of polymer lifecycle management and new sustainability capabilities. Additionally, regional R&D collaborations to establish global leadership by the National Institute of Standards and Technology (NIST) to develop additive manufacturing (AM) of polymers to support advanced production.
