The global ultraviolet absorber (UV) market for plastic packaging industry is expected to grow exponentially from the past year due to the rising demand for plastic packaging in almost every sector and advancements in packaging technologies which is expected to drive the market growth.
Global Ultraviolet Absorber (UV) Market for Plastic Packaging Industry (Segmentation)-
Source- DBMR Analysis
Market Definition
UV absorbers are chemical substances used to shield various materials from the damaging effects of ultraviolet (UV) radiation. They are also referred to as ultraviolet absorbers or UV stabilizers. Materials, including plastics, coatings, textiles, and polymers, are susceptible to deterioration, discoloration, and other adverse consequences from UV light from the sun or artificial sources. UV absorbers are frequently employed as additives in polymer formulations or applied as surface coatings in the context of plastics to increase the UV resistance of plastic materials. Typically organic substances, UV absorbers are created to selectively absorb UV light at particular wavelengths, such as UVA (320–400 nm) or UVB (280–320 nm). Benzotriazoles, benzophenones, hindered amines, and salicylates are a few typical UV absorbers utilized in a variety of sectors.
According to Data Bridge Market Research, the Ultraviolet Absorber (UV) Market is expected to witness market growth at a rate of 6.25% in the forecast period of 2022 to 2029.
Market Development
- In June 2019, Shenzhen Xingshengdi New Materials Co., Ltd. used a plastic additive to produce 5G base stations for major telecommunications companies. The base stations are protected against UV rays by BASF plastic additives. The company succeeded in creating UV absorbers that can stabilize plastic against UV radiation
Future Opportunities –
The expanding need for packaging options that are of high quality, durability, and aesthetic appeal. The development of UV absorbers in plastic packaging is mostly driven by the need to protect sensitive goods, such as food, beverages, and pharmaceuticals, from UV-induced degradation and spoilage. Additionally, the growing public awareness of UV radiation's negative impacts on product quality and safety also contributes to the need for UV-resistant packaging materials which in turn, is expected to further drive the market growth for the UV absorber market.
Most of the companies screened for this market based on their types of products manufactured. Some of the players in the market are BASF SE and CLARIANT among others.
BASF SE-
The company is headquartered in Germany and was established in 1865. The company develops chemistry at BASF for a sustainable future. They mix monetary success with social responsibility and environmental preservation. Six categories, including chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions, comprised 11 divisions. The company is present globally, including the Middle East and Africa, South America, Europe, and Asia-Pacific.
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CLARIANT
It is one of the top specialty chemical manufacturers globally. It creates value for its clients across a variety of industries by providing creative and sustainable solutions. The business was founded in 1995 and has its headquarters in Switzerland. The company's portfolio is made to be as precise as possible in meeting highly particular needs. The business operates in three different business areas: care chemicals, catalysts, adsorbents, and additives. The company is present globally, including in the Middle East and Africa, South America, Europe, and Asia-Pacific.
Related Reports-
- Global Plastic Packaging Market
- Global Biodegradable Paper and Plastic Packaging Market
- Global Ultra Violet (UV) Coatings Market
