A UV coating (or, more broadly, radiation cured coating) is a surface treatment that either cures or protects the underlying material from the detrimental effects of ultraviolet radiation. The rising construction industry, as well as consumer awareness of eco-friendly products, are the primary drivers of this industry’s growth. Another major factor is that it outperforms other coatings in terms of performance. A formulation of many ingredients is toughened by ultraviolet radiation, which creates free radicals, which then initiates the light-induced polymerization process of the reactive double bonds in the coating formulation, resulting in UV cured coating. The global report on UV Coatings Market provides the segment analysis based on the basis of composition, formulation, resin, substrate, end use industry and region.
UV Coatings Market Report Scope and Research Methodology
The report provides a comprehensive analysis of the UV Coatings market size, growth, supply, demand, share, innovations, and recent developments, and key stakeholders can use the simple statistics, tables, and figures for strategic planning that leads to the organization’s success. The report includes a detailed analysis of the UV Coatings market’s competitive landscape, as well as Company Profile, Revenue, Product Specifications, Production Capacity/Sales, Price, and Gross Margin Sales. The bottom-up approach was used to estimate the value of the and regional UV Coatings markets. The data collected using both primary and secondary research methodologies was combined to make the UV Coatings market report authentic and error-free. The analyst obtained these figures from UV Coatings industry experts and the company. representatives and externally validated them by analysing historical data of these product types and applications in order to obtain an accurate UV Coatings market size. To define, characterize, and analyse the UV Coatings market competition landscape, SWOT analysis and Porter’s Five Force Analysis are used, with a focus on key players.
UV Coatings Market Overview:
Stellar Market Research provides a brief description of the UV Coatings Market, as well as the most recent market snapshots. These aids understanding of its features by providing an overview of the UV Coatings market that highlights standard topics. This overview assists clients in comprehending the situation in the UV Coatings industry.
UV Coatings market size was valued at US$ 4.73 Billion in 2020 and the UV Coatings Market revenue is expected to grow at 8.70% through 2021 to 2027, reaching nearly US$ 8.48 Billion.
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UV Coatings Market Regional Insights:
By providing detailed information on key players in each key country, the report assists clients in understanding the UV Coatings market structure. It is a clear representation of local energy, economic, political, and geographic variables that is required for any meaningful evaluation of potential policy options in response to the development of the UV Coatings market in each region. The report covers North America, Asia Pacific, Europe, South America, and the Middle East and Africa.
UV Coatings Market Dynamics:
The businesses must comply with stringent rules and regulations relating to air pollution, waste disposal, and safety and health which leads the UV coatings market growth. UV coatings technology has two key advantages that have led to its designation as “green.” To begin with, most UV coating formulations are devoid of large amounts of volatile organic compounds (VOCs) or dangerous air pollutants (HAPs). Second, the energy required to dry a UV coating is significantly less than that required to dry a traditional solvent or even a water-based coating.
UV Coatings Market Segmentation:
In 2020, the monomers segment had the highest market share of the UV coatings market, accounting for more than 40%. Monomers are molecules with a low molecular weight that reduce the viscosity of a solution. They’re also non-flammable and have a mild odor. Acrylic acid esters and simple monofunctional/multifunctional polyols are examples of monomers.
The functionality of the monomer has a big impact on the cured coating’s qualities. Monomers are often chosen based on the acrylic functional groups they contain. Monomer mixtures are commonly used to improve the performance of a product. During the forecast period, all of these factors may drive the monomer segment of the UV coatings market.
In 2020, the water-based coatings segment accounted for more than 38% of the UV coatings market. The fundamental reason for this is that water-based UV coatings may be cleaned with water instead of using costly chemicals. Water-based coatings are also popular thanks to their lack of flammability. Coating technology market prospects reflect environmental concerns and, as a result, are governed by legislation.
According to the regulations, the market share of solvent-based coatings is continuously dropping, while the market share of alternative environmentally friendly coatings, particularly water-based coatings, is steadily growing. During the forecast period, this tendency is likely to continue. Water-based coatings are becoming more popular in the automotive sector. Because UV coatings cure quickly, they are used as filler primers. Water-based UV coatings can also coat 3D objects due to their physical drying. Water-based coatings have benefited from the Deco paint directive in Europe and regulatory restrictions in North America.
UV Coatings Market Key Players:
AkzoNobel N.V. (Netherlands)
The Dow Chemical Company (United States)
PPG Industries Inc. (United States)
3M (United States)
Asian Paints Ltd. (India)
The Valspar Corporation (United States)
The Sherwin-Williams Company (United States)
DIC Corporation (Japan)
Axalta Coating Systems LLC (United States)
Royals DSM N.V. (Netherlands)
ACG Industrie (France)
BASF SE (Germany)
Glidden (United States)
Key questions answered in the UV Coatings Market are:
- What is UV Coatings Market?
- What are the UV Coatings Market segments?
- Which UV Coatings market segment is expected to grow at a high rate during the forecast period?
- Who are the top players in the UV Coatings market industry?
- What is the expected UV Coatings Market size by 2029?
- What was the UV Coatings Market size in 2021?
- Which region is expected to grow at a high CAGR?
- Who held the largest market share in UV Coatings Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis of segments and sub-segments
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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