Increasing Stringent Regulations on Coatings across the Globe
Increasing stringent environmental regulations are increasing the demand for high-value, eco-friendly coatings. UV-cured coatings are known for their eco-friendly properties, releasing no volatile organic compounds (VOC). Manufacturers are striving in the field of R&D to come up with eco-friendly products. These regulations are to act as a driving factor for the demand for UV-cured coatings during the forecast period.
Epoxy-based UV-cured Coatings to Own Higher Share of Market
Due to its superior mechanical and chemical properties, the demand for epoxy-based UV-cured coatings is estimated to be high. The main issue with epoxy-based coatings is the emission of VOCs. This can be avoided with UV-based curing technology. Coatings based on epoxy resins are known for durability, strength, low maintenance, resistance to chemicals, etc. With the growing demand from the automotive and industrial end-users, the market for UV-cured coatings is to grow through the forecast period.
Asia-Pacific to Lead among Other Regions
Asia-Pacific is estimated to be the biggest market for UV-cured coatings. China and Japan are the main consumers of UV-cured coatings. Countries, such as South Korea and Taiwan, have small consumption levels but have high production. The increasing regulations from the authorities in the region to promote eco-friendly products is expected to lead to further innovation and developments in the industry. At present, the Indian market has very small consumption of UV-cured coatings, but is expected to catch pace significantly.
Notable Developments in the Market
- January 2018: Allnex announced increase in prices on UV/EB product line in the Americas
- March 2016: AkzoNobel launched new UV curable coatings for fast-track repairs.
Reasons to Purchase this Report
- To understand the impact of end-user industries on the market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- To understand the dominating technology in the market
- Countries expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares and strategies employed by the major market players.
- 3 months analyst support along with the Market Estimate sheet (in excel)
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1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness - Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
3.3 Regulatory Policies Analysis
4. Market Dynamics
4.1.1 Growing Usage in Electronics Industry
4.1.2 Increasing Demand for Eco-Friendly Coatings
4.1.3 Accelerating Demand for Wood Finishing
4.2.1 High Initial Costs for the Equipment
4.2.2 Difficulty Finishing Complex 3-D Objects
4.3.1 Increasing Applications of UV-cured Coatings
4.3.2 Shifting Focus Toward the Adoption of UV Powder Coatings
5. Market Segmentation and Analysis
5.1 By Resin
5.2 By Application
5.2.2 Electrical & Electronics
5.2.3 Printing Inks
5.2.6 Wood finish
6. Regional Market Analysis (Market Size, Growth & Forecast)
6.1.4 South Korea
6.1.5 Australia & New Zealand
6.1.6 Rest of Asia-Pacific
6.2 North America
6.2.1 United States
6.2.4 Rest of North America
6.3.2 United Kingdom
6.3.5 Rest of Europe
6.4 South America
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.4 Rest of Middle East & Africa
7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Products & Services, Financials**, Recent Developments, and Analyst View)
8.1 AkzoNobel N.V.
8.2 Ashland Coatings
8.4 Dymax Corp.
8.5 Jainco Industry Chemicals
8.6 Keyland Polymer
8.7 Master Bond Inc.
8.8 PPG Industries
8.9 Protech Powder Coatings Inc.
8.10 Red Spot Paint & Varnish Company
8.11 Seagrave Coatings
8.12 Sherwin-Williams Co.
8.13 Valspar Corp.
8.14 Watson Coatings
*List Not Exhaustive
**Subject to Feasibility & Availability on Public Domain
- AkzoNobel N.V.
- Ashland Coatings
- Dymax Corp.
- Jainco Industry Chemicals
- Keyland Polymer
- Master Bond Inc.
- PPG Industries
- Protech Powder Coatings Inc.
- Red Spot Paint & Varnish Company
- Seagrave Coatings
- Sherwin-Williams Co.
- Valspar Corp.
- Watson Coatings