UV Coatings Market in high demand due to UV curing is a photochemical process in which ultra violet radiations are used to instantly cure coatings. UV coating technology is a highly growing technology of instant curing which is employed on various substrates and cured by the use of ultra violet radiations.
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UV coatings market is expected to reach $7,590.4 Million by 2019 from $4,594.6 million in 2014, at a CAGR of 10.6%. 2013 market value $4,225.4 Million The key manufacturers of UV coatings include Akzo Nobel N.V.
(The Netherlands), Royal DSM N.V. (The Netherlands), PPG Industries Inc.
(U.S.), BASF SE (Germany), The Sherwin-Williams Company (U.S.), The Valspar Corporation (U.S.), Axalta Coatings Systems (U.S.), Dymax Corporation (U.S.), Eternal Chemical Co.
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Ltd. (Taiwan), DIC Corporation (Japan).
This high growth in demand for UV curable coatings is majorly due to its high performance and excellent environmental & safety profile.
Currently, the Asia-Pacific is the largest consumer of UV coatings, which consumed nearly 50.0% of the total demand in 2013. Among all the countries, China dominates the UV coatings market, which consumed the maximum volume of UV coatings in 2013.
The market volume of UV coatings and its types is comparatively low in the ROW region, but is expected show the highest CAGR from 2014 to 2019, followed by the Asia-Pacific.
Table of Contents
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
This study on UV coatings market estimates the demand and value for UV coatings and projects the same by 2019. As a part of quantitative analysis, the study segments the market by composition at a global level, and by type & by end-user segments at a country level with the current market estimation and forecast till 2019.
The overall UV coatings demand is driven by the wood coating, plastic coatingand over print varnish segmentswhich collectively consumedalmost three fourth of the total global demand in 2013.
Wood coating segment is expected to be the strongest growth segment of UV coating which is primarily driven by the budding demand of high quality coatings, and green nature of these coatings. As an end user industry, industrial coatings segmentis the biggest as well as the fastest-growing segment of UV coatings, which is primarily due to high penetration in all the regions.
Subsequently, electronics, and graphic arts industries were the second & the third largest end-user industries of UV coatings.
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