The UV coating market is projected to witness a significant growth during the forecast period. The UV coating market growth is driven by the increasing demand for UV coatings due to its environment-friendly nature. UV curable coatings (UV coatings) is rapidly increasing around the globe due to its contribution to improving the environmental situation across the globe.
Moreover, UV radiations convert wet coatings into 100% solids and do not release VOC into the environment. So these UV coatings are characterized as an environment-friendly coating by government and non-government organizations such as the Chinese coatings industry. Therefore, the environment-friendly nature of UV coating is expected to foster market growth.
However, fluctuating raw material prices and Stringent regulations on the emission of VOCs and other toxic chemicals are the major factors hampering the growth of the global UV coatings market.
Covid-19 Impact on UV coating Market:
The ongoing COVID-19 pandemic conditions has severely affected every sector around the world. Whereas, the chemicals and materials sectors moderately affected during the pandemic. This is primarily due to uncut demand of chemicals for healthcare, life science and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, construction materials are facing diminution in demand. Strict lockdown resulted in nearly 50-60% reduction in supply for raw materials, which directly affected the manufacturing process. Further, halt on many end use industries directly affected the chemical demand all around the world.
UV coating Market Segment Overview
Based on base type, UV Coatings market segmented into water-based and solvent based coating. Among this water-based coating segment is expected to account for the largest share in the global UV Coatings in 2020. The rising trend of using waterborne coatings over solvent-based coatings in various industries is the primary reason associated with the dominance and growth of this market segment.
Based on composition, UV Coatings market segmented into Monomer Oligomers, Epoxy Resins, Photo-Initiator, and Additives. The monomer oligomer segment is expected to account for the largest in the global UV Coatings in 2020.
By End-use the market is segmented into Wood & Furniture, Electronics, Automotive, Paper & Packing, Industrial Coatings, And Buildings & Construction. Among these Industrial Coatings is expcted to account for the largest share in the global UV Coatings in 2020.
Market Analysis, Insights and Forecast – By Type
· Water-Based
· Solvent Based Coating
Market Analysis, Insights, and Forecast – By Composition
· Monomer Oligomers
· Epoxy Resins
· Photo-Initiator
· Additives
Market Analysis, Insights, and Forecast – By End Use
· Wood & Furniture
· Electronics
· Automotive
· Paper & Packing
· Industrial Coatings
· Buildings & Construction
UV coating Market Regional Overview
The regional analysis include adoption of UV coating products across North America, Europe, Asia-Pacific (APAC), Latin America Middle East & Africa (MEA). Asia-Pacific is the largest UV Coating regional segment and is projected to account for a significant market share during the forecast period on account of the ascending demand for protective coatings from end users, such as automotive, industrial, wood and furniture, paper and packings and others. Asia Pacific is also projected to be the fastest growing UV Coating market Factors such as the presence of numerous end users, close proximity to raw material suppliers, and rapid industrialization and urbanization, especially in India and China are anticipated to boost the regional product demand.
UV coating Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
UV coating Market Competitor overview
Some key developments and strategies adopted by manufacturers in the UV coating are highlighted below.
· In November 2019, BASF introduced innovative leveling agents Efka FL 3750 and Efka FL 3755 for solvent-borne and solvent-free coatings.
UV coating Market, Key Players
· Akzonobel N.V.
· Royal DSM N.V.
· PPG Industries Inc.
· BASF SE
· the Sherwin-Williams Company
· the Valspar Corporation
· Axalta Coatings Systems
· Dymax Corporation
· Eternal Chemical Co. Ltd.
· DIC Corporation
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global UV coating Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Type
- 5.2.1. Water-Based
- 5.2.2. Solvent Based Coating
- 5.3. Market Analysis, Insights, and Forecast – By Composition
- 5.3.1. Monomer Oligomers
- 5.3.2. Epoxy Resins
- 5.3.3. Photo-Initiator
- 5.3.4. Additives
- 5.4. Market Analysis, Insights, and Forecast – By End Use
- 5.4.1. Wood & Furniture
- 5.4.2. Electronics
- 5.4.3. Automotive
- 5.4.4. Paper & Packing
- 5.4.5. Industrial Coatings
- 5.4.6. Buildings & Construction
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America, Middle East, and Africa
6. North America UV coating Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Type
- 6.2.1. Water-Based
- 6.2.2. Solvent Based Coating
- 6.3. Market Analysis, Insights, and Forecast – By Composition
- 6.3.1. Monomer Oligomers
- 6.3.2. Epoxy Resins
- 6.3.3. Photo-Initiator
- 6.3.4. Additives
- 6.4. Market Analysis, Insights, and Forecast – By End Use
- 6.4.1. Wood & Furniture
- 6.4.2. Electronics
- 6.4.3. Automotive
- 6.4.4. Paper & Packing
- 6.4.5. Industrial Coatings
- 6.4.6. Buildings & Construction
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
7. Europe UV coating Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Type
- 7.2.1. Water-Based
- 7.2.2. Solvent Based Coating
- 7.3. Market Analysis, Insights, and Forecast – By Composition
- 7.3.1. Monomer Oligomers
- 7.3.2. Epoxy Resins
- 7.3.3. Photo-Initiator
- 7.3.4. Additives
- 7.4. Market Analysis, Insights, and Forecast – By End Use
- 7.4.1. Wood & Furniture
- 7.4.2. Electronics
- 7.4.3. Automotive
- 7.4.4. Paper & Packing
- 7.4.5. Industrial Coatings
- 7.4.6. Buildings & Construction
- 7.5. Market Analysis, Insights and Forecast – By Country
- 7.5.1. UK
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Russia
- 7.5.7. Rest of Europe
8. Asia Pacific UV coating Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Type
- 8.2.1. Water-Based
- 8.2.2. Solvent Based Coating
- 8.3. Market Analysis, Insights, and Forecast – By Composition
- 8.3.1. Monomer Oligomers
- 8.3.2. Epoxy Resins
- 8.3.3. Photo-Initiator
- 8.3.4. Additives
- 8.4. Market Analysis, Insights, and Forecast – By End Use
- 8.4.1. Wood & Furniture
- 8.4.2. Electronics
- 8.4.3. Automotive
- 8.4.4. Paper & Packing
- 8.4.5. Industrial Coatings
- 8.4.6. Buildings & Construction
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. Australia
- 8.5.5. South East Asia
- 8.5.6. Rest of Asia Pacific
9. Latin America, Middle East, and Africa UV coating Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Type
- 9.2.1. Water-Based
- 9.2.2. Solvent Based Coating
- 9.3. Market Analysis, Insights, and Forecast – By Composition
- 9.3.1. Monomer Oligomers
- 9.3.2. Epoxy Resins
- 9.3.3. Photo-Initiator
- 9.3.4. Additives
- 9.4. Market Analysis, Insights, and Forecast – By End Use
- 9.4.1. Wood & Furniture
- 9.4.2. Electronics
- 9.4.3. Automotive
- 9.4.4. Paper & Packing
- 9.4.5. Industrial Coatings
- 9.4.6. Buildings & Construction
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. Brazil
- 9.5.2. Saudi Arabia
- 9.5.3. UAE
- 9.5.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2020
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Akzonobel N.V.
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Royal DSM N.V.
- 10.6. PPG Industries Inc.
- 10.7. BASF SE
- 10.8. the Sherwin-Williams Company
- 10.9. the Valspar Corporation
- 10.10. Axalta Coatings Systems
- 10.11. Dymax Corporation
- 10.12. Eternal Chemical Co. Ltd.
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
