Uv Coatings Market

UV Coatings Market: APEJ Inclined Towards High Value - High Growth in the Coming Decade: Global Industry Analysis and Opportunity Assessment 2016-2026

APEJ is projected to be a relatively high growth regional market in the global UV coatings market during the forecast period

The APEJ UV coatings market was estimated to be valued at more than US$ 1,000 Mn by the end of 2016 and is projected to expand at a CAGR of 9.2% to reach more than US$ 2,000 Mn by the end of 2026. The APEJ market is projected to represent incremental $ opportunity of more than US$ 1,500 Mn between 2016 and 2026. The incremental $ opportunity in the region can be attributed to the increasing production of electronics and semiconductor goods, as well as growth of the automotive sector in China and India. China is expected to be the key country in the APEJ UV coatings market and is likely to account for maximum value and volume share over the forecast period. APEJ was estimated to account for more than 30% of the total market value share by the end of 2016 and is expected to increase to more than 45% by the end of the forecast period. This regional market is anticipated to gain more than 1000 BPS by the end of 2026.

China is expected to be the most attractive country in the APEJ UV coatings market over the forecast period

China has been the leading country in Asia in terms of usage of radiation-cured technology. This industry has been impacted by the Chinese government’s resolve to reduce VOC emissions and sanitise the environment from fog dispersed by manufacturers using radiation-cured technologies. In September 2013, the State Council released the Air Pollution Prevention and Treatment Action Plan to monitor air pollution treatment in the near future. A specific measure in this policy categorically pertains to VOC regulations, thereby impacting the use of radiation-cured technology in China. Aggressive implementations are being done, with local governments pursuing the shutdown of factories not meeting these regulatory standards. Due to these developments, research and development departments of radiation-cured technology users and coatings companies have been working to achieve technological success in the form of compliance with the new regulations. In the case of India, specific regulations with regard to the application of UV cured coatings for food packaging could be expected in the near future. However, currently, as compared to China, there is a deficiency of stringent regulations in India, especially environmental regulations, which could have promoted the use of UV cured coatings even further.

uv coatings market

Growth of the printing industry in APEJ – particularly in China – likely to create robust development in the global UV coatings market

The printing industry in APEJ has witnessed a robust growth since the last few years with the advent of flexographic and 3D printing for applications such as advertising, labelling, packaging, and literature publications. Due to high-quality finishing and surface protection, UV cured coatings are used on a large scale in the APEJ printing and packaging industry. The use of UV cured printing inks has gained traction as an additive for new substrate types such as ceramic and introduction of metallic effect inks in gravure printing. All these factors are creating a positive impact on the APEJ UV coatings market.

UV coatings have been preferred in the wood and furniture industry in APEJ as a medium of coating over the last four decades. The product has several advantages over conventional coating material such as low VOC emissions and fast radiation curing technology to provide a smooth surface finish and prolonged durability of the product. With the robust growth of the wood and furniture market in recent times, the UV coatings market in APEJ is expected to benefit from the same. The growth of the residential sector in Asia Pacific is also expected to provide traction in the demand for furniture and wood furnishing items thus employing the use of UV-based coatings.

UV curable coatings have witnessed fast development in recent years all over the world, especially in APEJ. One of the important reasons for the growth of UV coatings is improving the environmental situation worldwide. UV radiations completely convert wet coatings into 100% solids. Hence it does not release VOC into the environment. These coatings are listed as environment-friendly coatings by various government and non-government organisations.

According to the latest published report of Future Market Insights titled “UV Coatings Market: Global Industry Analysis and Opportunity Assessment 2016-2026,” organic expansion and green initiatives would be the strongest pillars of growth for UV coatings businesses over the forecast period. While examining the global UV coatings market, our analysts have observed that key players are adopting a solution-oriented approach to strengthening partnerships with major distributors and long-term contractors for better output. Utmost importance is given to product innovation as the key players in this market are keen on developing new technologies for the production of UV coatings that comply with government regulations. Our team of experts have found that end use industries such as electronics and wood and furniture are expected to remain dominant over the projected period, while APEJ and Western Europe will lead the global UV coatings market during the predicted period. 

The study provides market dynamics that are expected to influence the current environment and future status of the UV coatings market during the forecast period. The primary objective of this report is to offer updates on trends, drivers, restraints, value forecasts and opportunities for manufacturers operating in the global UV coatings market. The report discusses how the overall competition in the market is steadily increasing. It discusses various factors that are shaping internal as well as external competition in the market. The demand for UV coatings is facing a slight slowdown due to its various properties like volatility, high cost and associated environmental issues. We have highlighted country-wise UV coatings demand while inspecting this market. The report provides a market outlook for the predicted period and sets the forecast within the context of the global UV coatings market, including new technological developments as well as product offerings for key applications in the global UV coatings market.

Structure of the global UV coatings market report

The report includes an executive summary, market definition and overview, drivers, trends, opportunities and restraints. Yearly change in inflation rate has not been considered while forecasting the market numbers. While studying the market, product-wise weighted Average Selling Price (ASP) has been considered to deduce market values. Factors such as GDP and the growth of the construction industry, electronics industry, wood and furniture industry, automotive industry, and paper and packaging industry have been considered while researching the global UV coatings market. Bottom-up approach has been used to counter validate the market estimations, while top-down approach has been used to assess market numbers for each product category. Market volume represents consumption and value indicates revenue generated from sales. All values for market size are in US$ (US Dollar). All volumes for market size are in KT. We have concluded the report with a competitive landscape which provides report audiences with a dashboard view. Detailed profiles of manufacturers are also included within the scope of the report to evaluate their long- and short-term strategies, key offerings and recent developments in the global UV coatings market.

Key segments covered

By Base

 

By Composition

 

By End Use Industry

 

By Region

 

  • Water Based

  • Solvent Based

  • Monomers

  • Oligomers

    • Polyesters

    • Polyether

    • Polyurethane

    • Epoxy Resins

  • Photo-initiators

  • Additives

  • Wood & Furniture

  • Electronics

  • Automotive

  • Paper & Packaging

  • Industrial Coatings

  • Building & Construction

  • North America

  • Latin America

  • Western Europe

  • Eastern Europe

  • Asia Pacific Excluding Japan (APEJ)

  • Middle East & Africa (MEA)

  • Japan                    

Report highlights

  • Detailed overview of the parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current, and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments and geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint

We have considered regional demand patterns while estimating the market for various end users of UV coatings

A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, GBI, Genios and Meltwater. Companies’ annual reports and publications were also examined while studying the global UV coatings market. Market size and forecast for each segment have been provided in the context of global and regional markets. The global UV coatings market has been analysed based on expected demand. Prices considered for the calculation of revenue are average regional prices obtained through primary quotes from numerous regional UV coating manufacturers, suppliers, and distributors.

All key end users have been considered and potential applications have been estimated on the basis of secondary sources and feedback from primary respondents. Regional demand patterns have been considered while estimating the market for various end users of UV coatings across different regions. A detailed analysis has been provided for every segment in terms of market size analysis. It is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR but also analyse the market on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market as well as to identify the right opportunities for market players. Another key feature of this report is the analysis of all market segments in terms of absolute dollar opportunity, critical in assessing the level of opportunity that a provider can look to achieve and also for identifying potential resources from a sales and delivery perspective in the global UV coatings market.