Chemicals and Materials UV Stabilizers Market New | Page 2

The packaging application segment is expected to lead the UV stabilizers market
during the forecast period
The packaging is the largest application segment of the UV stabilizers market, owing to the
increasing demand for packaging from food and non-food industries in Asia-Pacific, North
America, and Europe regions. The ability to maintain the properties and quality of
packaging materials even when exposed to UV radiations, weathering resistivity, and long-
term durability is the major factor driving the UV stabilizers market in packaging.
Asia-Pacific is expected to lead the UV stabilizers market during the forecast period
The Asia-Pacific region is estimated to lead the UV stabilizers market. This dominance of
the region can be attributed to the presence of a large number of UV stabilizers
manufacturers, rising foreign investments, and growing demand for HALS and UV
absorbers from plastics, polymers, and automotive industries in the region. China is leading
the Asia-Pacific UV stabilizers market due to the growth in the use of UV stabilizers in
packaging and automotive industries, among others, and numerous developmental
strategies adopted by the manufacturers.
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Major manufacturers such as Songwon Industrial Co., Ltd. (South Korea), Solvay SA
(Belgium), ALTANA AG (Germany), BASF SE (Germany), Clariant AG (Switzerland), and
Addivant (U.S.) have adopted various organic and inorganic strategies to expand their
businesses.
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