International. The market for ultraviolet absorbers is projected to be valued at US$690.3 million in 2016 and is projected to reach US$1,006.4 million by 2022, at a year-on-year rate of change of 6.5% between 2017 and 2022.
The rapid growth of the automotive industry is expected to increase the demand for UV absorbers in coatings and adhesive applications. Personal care and printing inks are the other applications that consume UV absorbers.
The benzotriazole type of UV absorbers accounted for the largest share of the UV absorbent market in 2016. The benzotriazole-type UV absorber type is estimated to be the largest type segment of the UV absorbents market, both in terms of value and volume.
Markets&Markets indicated that this high market share is mainly attributed to its use in various applications, such as plastics, coatings, adhesives, printing and personal care, among others. These are typically used for outdoor applications due to their better performance and wide 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 absorbent market.
