The report, “UV Coatings Market by Composition (Monomers, Oligomers, Photoinitiators & Others), Type (Wood, Plastic, Paper, Conformal, Display, OPV), End-User (Industrial Coatings, Electronics, Graphic Arts) & Geography - Trends and Forecasts to 2019” defines and segments the UV coatings market with analysis and forecasting of the consumption volume and value. This 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 UV coatings market, along with its various types, has witnessed a significant growth in the recent years and this growth is estimated to persist in the coming years. This high growth in demand for UV curable coatings is majorly due to its high performance and excellent environmental & safety profile.
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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.
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. Ltd. (Taiwan), and DIC Corporation (Japan).
This study basically aims to estimate the market of UV coatings for 2014 and to project the expected demand of the same by 2019. This market research study provides a detailed qualitative and quantitative analysis of the UV coatings market. It provides a comprehensive review of major market drivers, restraints, opportunities, winning imperatives, challenges, and key issues in the market.
- Increasing Environmental Awareness Driving the Demand for Green Products
- Elevating Electronics Market
- Growth in Demand for Industrial Wood Coatings
- Not an Attractive Product in Price Competitive Markets
- Increasing Scope in New Applications
- Potential Markets with Low Capacities
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