Selbyville, Delaware, March 22, 2021 (GLOBE NEWSWIRE) -- According to the industry experts, global UV curable coatings market size generated revenues worth USD 5.8 million in 2019 and to reach USD 14.20 million to grow with a CAGR of 12% over 2020-2027. Incorporation of state-of-the-art technologies leading to boom of automotive sector, in consort with establishment of numerous manufacturing facilities are impelling the market growth.
Worldwide UV curable coatings market, as per the report, is fragmented based on type, composition, and end-users. Insights about the industry share held by each segment in the past, as well as their contribution towards the overall valuation in the future are documented. Regional survey is conducted to discover expansion prospects and enable industry partakers to make profitable investments.
For the record, UV curing is photochemical process involving usage of high-intensity ultraviolet rays for instant curing and dying of adhesives, inks, and coatings. Benefits over traditional methods, such as minimal errors, less chance of airborne particle settling on surface, and speed shipping are augmenting the growth of global UV curable coatings industry outlook.
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Moreover, evolving living standards with improved disposable incomes, in consort with rapid industrialization in developing nations are stimulating the worldwide UV curable coatings market remuneration.
Despite the positive business outlook, availability of pocket-friendly coatings and expensive nature of UV curable coatings may restrain the industry expansion to some extent over the study period.
Elucidating market segmentations:
Based on type, the market is classified into display coatings, over print varnish, plastic coatings, and wood coatings. With respect to composition, worldwide UV curable coatings industry is categorized into photo initiators, pigments & additives, oligomers, and monomers. While the end-users include graphic arts, electronics, industrial coatings, and others.
Regional outlook:
Seasoned analysts claim that Asia Pacific (except Japan) was the leading contributor for global UV curable coatings market in the recent past and is poised to showcase similar trend over 2020-2027. The growth is credited to flourishing electronics and industrial verticals in nations like China and India. Meanwhile, North America is also slated to present considerable growth opportunities over the analysis timeframe.
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Global UV Curable Coatings Market by Type (Revenue, USD Billion, 2017-2027)
- Display Coatings
- Over Print Varnish
- Plastic Coatings
- Wood Coatings
Global UV Curable Coatings Market by Composition (Revenue, USD Billion, 2017-2027)
- Photo Initiators
- Pigments & Additives
- Monomers (Reactive Diluents)
- Oligomers (UV Curable Resins)
Global UV Curable Coatings Market End-user Ambit (Revenue, USD Billion, 2017-2027)
- Graphic Arts
- Electronics
- Industrial Coatings
- Others
Global UV Curable Coatings Market Regional Landscape (Revenue, USD Billion, 2017-2027)
Latin America
- Mexico
- Brazil
Asia Pacific
- South Korea
- Australia
- India
- China
- Japan
- RoAPAC
North America
- Canada
- U.S.
Europe
- UK
- Italy
- France
- Spain
- Germany
- RoE
RoW
Global UV Curable Coatings Market Competitive hierarchy (Revenue, USD Billion, 2017-2027)
- Toagosei Co. Ltd.
- Eternal Materials Co. Ltd.
- Showa Denko Materials Co. Ltd. (formerly Hitachi Chemical Company Ltd.)
- Miwon Specialty Chemical Co. Ltd.
- Wanhua Chemical Group Co. Ltd.
- Nippon Synthetic Chem Industry Co. Ltd.
- Covestro AG
- BASF SE
- Alberdingk Boley GmbH
- Allnex Belgium SA/NV
- Royal DSM N.V.
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. UV Curable Coatings market, by Region, 2018-2027 (USD Billion)
1.2.2. UV Curable Coatings market, by Composition, 2018-2027 (USD Billion)
1.2.3. UV Curable Coatings market, by Type, 2018-2027 (USD Billion)
1.2.4. UV Curable Coatings market, by End-Use Industry, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global UV Curable Coatings market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global UV Curable Coatings market Dynamics
3.1. UV Curable Coatings market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global UV Curable Coatings market: Industry Analysis
4.1. Porter's 5 Force Model
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global UV Curable Coatings market, by Composition
5.1. Market Snapshot
5.2. Global UV Curable Coatings market by composition, Performance - Potential Analysis
5.3. Global UV Curable Coatings market Estimates & Forecasts by composition 2017-2027 (USD Billion)
5.4. UV Curable Coatings market, Sub Segment Analysis
5.4.1. Oligomers (UV Curable Resins)
5.4.2. Monomers (Reactive Diluents)
5.4.3. Pigments and Additives
5.4.4. Photo initiators
Chapter 6. Global UV Curable Coatings market, by Type
6.1. Market Snapshot
6.2. Global UV Curable Coatings market by end use , Performance - Potential Analysis
6.3. Global UV Curable Coatings market Estimates & Forecasts by end use 2017-2027 (USD Billion)
6.4. UV Curable Coatings market, Sub Segment Analysis
6.4.1. Wood Coatings
6.4.2. Plastic Coatings
6.4.3. Over Print Varnish
6.4.4. Display Coatings
Chapter 7. Global UV Curable Coatings market, by End-Use Industry
7.1. Market Snapshot
7.2. Global UV Curable Coatings market by application, Performance - Potential Analysis
7.3. Global UV Curable Coatings market Estimates & Forecasts by application 2017-2027 (USD Billion)
7.4. UV Curable Coatings market, Sub Segment Analysis
7.4.1. Electronics
7.4.2. Industrial coatings
7.4.3. Graphic Arts
7.4.4. Others
Chapter 8. Global UV Curable Coatings market, Regional Analysis
Related Report:
Global UV Curable Resins Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
The UV curable resins market is anticipated to record a significant growth rate over the coming years owing to ongoing technological advancements and the product’s superior physical properties and chemical resistance. Most of the UV curable resins are commercially available which includes polyethers, silicones, urethanes, epoxies, and polyesters. These resins are utilized in a wide range of applications across the coating, adhesive, and ink industry. Owing to features such as ease of application, high productivity, as well as low impact on the environment, UV curable resins have become the most preferred resin systems in the market today.
With respect to product, the UV curable resins market is categorized into inks, adhesives, industrial coatings, and others. Among these, inks segment holds a share of 22.4%. The others segment is likely to grow over by 9.1% over the forthcoming time period.
Graphic arts segment currently holds a share of over 25.1% and will continue to show appreciative growth. Electronics segment is expected to grow over 8.9% by the end of the analysis timeline.
From a regional frame of reference, Asia Pacific UV curable resins market is projected to grow over 9.1% by the end of the analysis period. Middle East & Africa UV curable resins market presently holds a share of over 7% and will continue to exhibit appreciative growth.
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