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Key Market Trends Plastic to Dominate the Market Plastic stands to be the dominating segment owing to the broad application in automotive, packaging, construction and among others. UV absorber is used for outdoor applications due to its better performance and broad spectral coverage in both UV-A as well as UV-B region. Plastics such as polyvinyl chloride and polycarbonate tend to degrade when exposed to UV radiation. UV radiations initiate chemical reactions in plastics that result in the breakdown and loss of chemical and physical properties of plastics, thereby prompting the need for UV absorbers Initiatives beneath Clean Energy Ministerial (CEM) like electric vehicle initiative and growing popularity of electric vehicles are likely to increase the consumption of plastic in the automotive industry subsequently utilization of UV absorber in plastic is anticipated to grow.

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