The Universal Selection Source: Coatings Ingredients

Industry News

Automotive Coatings Industry to Drive UV Absorbers Market: M&M

Published on 2017-08-23. Author : SpecialChem

M&M predicts that the UV absorbers market was valued at USD 690.3 Million in 2016 and is projected to reach USD 1,006.4 Million by 2022, at a CAGR of 6.5% from 2017 to 2022.

The rapidly growing automotive industry is expected to increase the demand for UV absorbers in coatings and adhesives applications. Personal care and printing inks are the other applications which consume UV absorbers.

Benzotriazole Type of UV Absorbers

UV Absorber market
Automotive Coatings Industry to Drive
UV Absorbers Market: M&M

  • The benzotriazole type of UV absorbers accounted for the largest share of the UV absorbers market in 2016
  • The benzotriazole type of UV absorbers is estimated to be the largest type segment of the UV absorbers market, in terms of both value and volume
  • This high market share is mainly attributed to its usage across various applications, such as plastics, coatings, adhesives, printing, and personal care, among others
  • These are typically used for outdoor applications owing to its better performance and broad spectral coverage in both UV-A as well as UV-B region. These properties of benzotriazole are expected to foster the growth of this type of UVA in the UV absorbers market

Asia Pacific to Grow at the Highest CAGR during the Forecast Period


The UV absorbers market in Asia Pacific is expected to grow at the highest CAGR during the forecast period.

Asia Pacific is the third largest market for UV absorbers, in terms of both value and volume, but is expected to the fastest-growing market, followed by North America and Europe. Increasing industrialization and growth in end-use industries is expected to increase the demand for UV absorbers in this region.

The growing automotive industry is expected to drive the demand for UV absorbers in automotive plastics, coatings, and adhesives applications in this region. Lesser number of regulations in this region is a driver for the UV absorbers market in this region. Moreover, rising awareness regarding the benefits of UV absorbers has further contributed to their high demand in Asia Pacific countries, such as China, Japan, and India.

PS: If you liked this News, you might enjoy our Coatings Industry Newsletter. All the Industry News delivered twice a week right to your inbox. Sign up here!


Source: M&M
Be the first to comment on "Automotive Coatings Industry to Drive UV Absorbers Market: M&M"

Leave a comment





Your email address and name will not be published submitting a comment or rating implies your acceptance to SpecialChem Terms & Conditions
Economist
Channel Alerts

Receive weekly digests on hot topics

Receive your alerts

Back to Top