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UV Curable Coatings Market - Global Outlook & Forecast 2021-2026

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    Report

  • 213 Pages
  • November 2021
  • Region: Global
  • Arizton
  • ID: 5460376
UP TO OFF until Jun 30th 2024
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In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global UV Curable Coatings Market Report

The UV curable coatings market is expected to reach USD 10,751.64 million by 2026, growing at a CAGR of 8.40%.

The following factors are likely to contribute to the growth of the UV curable coatings market during the forecast period:

  • Rising Awareness for Greener Products
  • Increasing Demand for Wood Coatings
  • UV Curable Coatings in Newer Applications
  • Unlocking Demand in the APAC Countries

UV CURABLE COATINGS MARKET OUTLOOK


Due to rising environmental concerns and sustainable development, UV curable technology will hold a major place and witness more investment in research and development. With the rapid urbanization and rising middle-class incomes, APAC countries will witness robust demand for UV curable adhesives coatings from end markets such as packaging, automotive, electronics, and wood.

UV curable coatings is a long-established and proven technology in the automotive coatings sector. The future of UV curing in the automotive is full of potential as their applications continue to grow as new coatings and solutions. The emerging economies of the APAC are expected to drive the growth of these UV-curable coatings through their growing automotive industry.

KEY HIGHLIGHTS

  • UV curable coating is an upcoming market with a very bright scope owing to its excellent advantages over conventional coating solutions.
  • The photoinitiators in the global UV curable coatings industry are expected to reach USD 2,613.40 million by 2026.
  • The global automotive UV curable coatings industry will grow at a CAGR of 7.95% during the forecast period.
  • Electronics assemblies, electric vehicle batteries, low-migration formulations for food packaging, commercial printing, labels and packaging, and pre-coated substrates are upcoming end-use segments.

The study considers a detailed scenario of the present UV curable coatings market and its market dynamics for the period 2021-2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.

UV CURABLE COATINGS MARKET SEGMENTATION


This research report includes a detailed segmentation by
  • Component
  • End-Use
  • Geography

INSIGHTS BY COMPONENT


Oligomers in the UV curable coatings industry are moderately low molecular weight resins that contribute to the overall properties of the coating, ink, or adhesive. Flexible packaging, consumer coatings, and automotive are major industries fostering the demand for UV curable coatings. The oligomers in the UV-cured coatings market are expected to reach USD 1497.32 million by 2026.

INSIGHTS BY END-USE


Various end-user industries where UV curable coatings are employed on a large scale include automotive, wood, electronics, aerospace, paper and packaging, and printing and graphic arts. The electronic industry is the upcoming sector. The advancement of technologies, the growth of the electric car industry, and the presence of Printed Circuit Boards (PCBs) in every electronic device are fuelling the consumption of UV curing coatings in the electronics industry.

The global wooden UV Curable coatings industry is expected to grow steadily. The growing demands for eco-friendly coatings, renovation and remodeling work, rise in demands from the emerging and established economies are the key drivers for the growth of the UV curable wooden coatings market.

Market Segmentation by Component

  • Monomers
  • Photoinitiator
  • Oligomers
  • Pigment
  • Filler
  • Additives

Market Segmentation by End-Use

  • Wood
  • Electronics
  • Automotive
  • Printing/Graphic Art
  • Paper and Packaging
  • Other

INSIGHTS BY GEOGRAPHY


The APAC is the major consumer of UV curable coatings among all the regions, followed by North America and Europe. The UV curable coatings industry in APAC was valued at USD 2.99 billion in 2020 and is expected to maintain a CAGR of 8.28% during the forecast period. China is the largest consumer of UV wood coatings market across the region. The flexible packaging, paper packaging, wood, automotive, electronic, printing are the key end-user markets that will drive the consumption of UV curing technology in APAC.

Market Segmentation by Geography

  • APAC
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Europe
  • Germany
  • United Kingdom
  • France
  • Italy
  • Russia
  • North America
  • US
  • Canada
  • Latin America
  • Brazil
  • Mexico
  • Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa

VENDOR ANALYSIS


The UV curable coatings market is highly fragmented, with the presence of dominant players across all regions. Various competitors like BASF SE, BASF, Sherwin-Williams Company, PPG Industries, DIC Corporation, AkzoNobel, Axalta Coating Systems, Royal DSM NV, etc., are actively operating across the globe along with various local players. In the coming years, investment in research and development will be very crucial for the growth of manufacturing companies. In 2021, the global UV curable coatings market is growing at a steady rate, and with the rising adoption of strategies by various players, the market is expected to rise over the projected horizon.

Key Vendors

  • Royal DSM NV
  • AkzoNobel
  • BASF SE
  • PPG Industries
  • Sherwin-Williams

Other Prominent Vendors

  • DYMAX Corp.
  • Nippon Paints
  • Cardinal Paint
  • Axalta Coating Systems, Ltd.
  • Jainco Industry Chemicals
  • The Protech Group
  • Eternal Chemical Co. Ltd
  • DIC Corporation
  • Master Bond Inc.

KEY QUESTIONS ANSWERED:

1. How big is the UV curable coatings market?
2. What is the COVID-19 impact on the radiation-cured coatings market?
3. Who are the key players in the global UV curable coatings market?
4. What are the latest trends in the UV-cured coatings market?
5. Which region has the highest growth rate in the UV curable coatings industry?
6. What are the end-use segments in the UV curable coatings industry?

Table of Contents

1 Research Methodology2 Research Objectives3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope Of The Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
7.2 Supply Chain Analysis
8 Growth Opportunities By Segment
8.1 By Component
8.2 By End-Use
8.3 By Geography
9 Market Opportunities & Trends
9.1 Rising Awareness Of Greener Products
9.2 Increasing Demand For Wood Coatings
10 Market Growth Enablers
10.1 Rising Demand From The Automotive Industry
10.2 UV Curable Coatings In Newer Applications
10.3 Unlocking Demand In APAC Countries
11 Market Restraints
11.1 Raw Material/Feedstock Shortages
11.2 High Capital Investments
12 Market Landscape
12.1 Market Overview
12.2 Market Size & Forecast
12.3 Five Forces Analysis
13 Component
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Monomers
13.4 Photoinitiators
13.5 Oligomers
13.7 Pigments, Fillers, And Additives
14 End-Use
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Wood
14.4 Electronics
14.5 Automotive
14.7 Printing & Graphic Arts
14.8 Paper & Packaging
14.9 Other
15 Geography
15.1 Market Snapshot & Growth Engine
15.2 Geographic Overview
16 APAC
16.1 Market Overview
16.2 Market Size & Forecast
16.3 Component
16.4 End-Use
16.5 Key Countries
17 Europe
17.1 Market Overview
17.2 Market Size & Forecast
17.3 Component
17.4 End-Use
17.5 Key Countries
18 North America
18.1 Market Overview
18.2 Market Size & Forecast
18.3 Component
18.4 End-Use
18.5 Key Countries
19 Latin America
19.1 Market Overview
19.2 Market Size & Forecast
19.3 Component
19.4 End-Use
19.5 Key Countries
20 Middle East & Africa
20.1 Market Overview
20.2 Market Size & Forecast
20.3 Component
20.4 End-Use
20.5 Key Countries
21 Competitive Landscape
21.1 Competition Overview
21.2 Market Share Analysis
22 Key Company Profiles
22.1 DSM
22.2 AKZONOBEL
22.3 BASF
22.4 PPG INDUSTRIES
22.5 SHERWIN-WILLIAMS
23 OTHER PROMINENT VENDORS
23.1 DYMAX
23.2 NIPPON PAINT
23.3 CARDINAL PAINT
23.4 AXALTA COATING SYSTEMS
23.5 JAINCO INDUSTRY CHEMICALS
23.6 PROTECH GROUP
23.7 ETERNAL MATERIALS
23.8 DIC CORPORATION
23.9 MASTER BOND INC.
24 Report Summary
24.1 Key Takeaways
24.2 Strategic Recommendations
25 Quantitative Summary
25.1 COMPONENT
25.2 END-USE
25.3 GEOGRAPHY
25.4 APAC
25.5 EUROPE
25.6 NORTH AMERICA
25.7 LATIN AMERICA
25.8 MIDDLE EAST & AFRICA
26 Appendix
26.1 Abbreviations
List of Exhibitis
Exhibit 1 Segmentation of Global UV Curable Coatings Market
Exhibit 2 Market Size Calculation Approach 2020
Exhibit 3 Components of a UV Curable Coating
Exhibit 4 Major Classes of Oligomers
Exhibit 5 Advantages of UV Curable Coatings Over Conventional Solutions
Exhibit 6 Geographical Insights for UV Curable Coatings
Exhibit 7 Supply Chain Analysis for UV Curable Coatings
Exhibit 8 Why Vendors are Investing in UV Technology
Exhibit 9 Growth Opportunity in UV Curable Coatings Market by Component ($ million)
Exhibit 10 Growth Opportunity in UV Curable Coating Market by End-Use ($ million)
Exhibit 11 Growth Opportunity in UV Curable Coatings Market by Geography ($ million)
Exhibit 12 Impact of Rising Awareness of Greener Products
Exhibit 13 Impact of Increasing Demand for Wood Coatings
Exhibit 14 Comparison of Different Coating Technologies
Exhibit 15 Impact of Rising Demand from the Automotive Industry
Exhibit 16 Impact of UV Curable Coatings in Newer Applications
Exhibit 17 Impact of Unlocking Demand in APAC Countries
Exhibit 18 Impact of Raw Material/Feedstock Shortages
Exhibit 19 Impact of High Capital Investments
Exhibit 20 Global UV Curable Coatings Market 2020–2026 ($ million)
Exhibit 21 Five Forces Analysis 2020
Exhibit 22 Incremental Growth by Component 2020 & 2026
Exhibit 23 Global UV Curable Coatings Monomer Market 2020–2026 ($ million)
Exhibit 24 Global UV Curable Coatings Photoinitiators Market 2020–2026 ($ million)
Exhibit 25 Global UV Curable Coatings Oligomer Market 2020–2026 ($ million)
Exhibit 26 Global UV Curable Coatings Pigments, Fillers, and Additives Market 2020–2026 ($ million)
Exhibit 27 Incremental Growth by End-Use 2020 & 2026
Exhibit 28 Global Wood UV Curable Coatings Market 2020–2026 ($ million)
Exhibit 29 Global Electronics UV Curable Coatings Market 2020–2026 ($ million)
Exhibit 30 Global Automotive UV Curable Coatings Market 2020–2026 ($ million)
Exhibit 31 Global Printing & Graphic Arts UV Curable Coatings Market 2020–2026 ($ million)
Exhibit 32 Global Paper & Packaging UV Curable Coatings Market 2020–2026 ($ million)
Exhibit 33 Global Other End-Use UV Curable Coatings Market 2020–2026 ($ million)
Exhibit 34 Incremental Growth by Geography 2020 & 2026
Exhibit 35 UV Curable Coatings Market in APAC 2020–2026 ($ million)
Exhibit 36 Incremental Growth in APAC 2020 & 2026
Exhibit 37 UV Curable Coatings Market in China 2020–2026 ($ million)
Exhibit 38 UV Curable Coatings Market in Japan 2020–2026 ($ million)
Exhibit 39 UV Curable Coatings Market in India 2020–2026 ($ million)
Exhibit 40 UV Curable Coatings Market in South Korea 2020–2026 ($ million)
Exhibit 41 UV Curable Coatings Market in Indonesia 2020–2026 ($ million)
Exhibit 42 UV Curable Coatings Market in Europe 2020–2026 ($ million)
Exhibit 43 Incremental Growth in Europe 2020 & 2026
Exhibit 44 UV Curable Coatings Market in Germany 2020–2026 ($ million)
Exhibit 45 UV Curable Coatings Market in the UK 2020–2026 ($ million)
Exhibit 46 UV Curable Coatings Market in France 2020–2026 ($ million)
Exhibit 47 UV Curable Coatings Market in Italy 2020–2026 ($ million)
Exhibit 48 UV Curable Coatings Market in Spain 2020–2026 ($ million)
Exhibit 49 UV Curable Coatings Market in Russia 2020–2026 ($ million)
Exhibit 50 UV Curable Coatings Market in North America 2020–2026 ($ million)
Exhibit 51 Incremental Growth in North America 2020 & 2026
Exhibit 52 UV Curable Coatings Market in the US 2020–2026 ($ million)
Exhibit 53 UV Curable Coatings Market in Canada 2020–2026 ($ million)
Exhibit 54 UV Curable Coatings Market in Latin America 2020–2026 ($ million)
Exhibit 55 Incremental Growth in Latin America 2020 & 2026
Exhibit 56 UV Curable Coatings Market in Brazil 2020–2026 ($ million)
Exhibit 57 UV Curable Coatings Market in Mexico 2020–2026 ($ million)
Exhibit 58 UV Curable Coatings Market in MEA 2020–2026 ($ million)
Exhibit 59 Incremental Growth in the Middle East & Africa 2020 & 2026
Exhibit 60 UV Curable Coatings Market in Saudi Arabia 2020–2026 ($ million)
Exhibit 61 UV Curable Coatings Market in the UAE 2020–2026 ($ million)
Exhibit 62 UV Curable Coatings Market in South Africa 2020–2026 ($ million)
Exhibit 63 Market Share Analysis of Major Vendors (2020)
List of Tables
Table 1 Key Caveats
Table 2 Currency Conversion 2013-2020
Table 3 Growth Opportunity in UV Curable Coatings Market by Component 2020–2026
Table 4 Growth Opportunity in UV Curable Coatings Market by End-Use 2020–2026
Table 5 Growth Opportunity in UV Curable Coatings Market by Geography 2020–2026
Table 6 Comparison of Conventional and UV Curable Coatings
Table 7 UV Curable Coatings Monomer Market by Geography 2020-2026 ($ million)
Table 8 UV Curable Coatings Photoinitiators Market by Geography 2020-2026 ($ million)
Table 9 Types of Acrylate Oligomers Used in Coatings and Their Effects
Table 10 UV Curable Coatings Oligomer Market by Geography 2020-2026 ($ million)
Table 11 Characteristics and Composition of Other Ingredients of UV Curable Coatings
Table 12 UV Curable Coatings Pigments, Fillers, and Additives Market by Geography 2020-2026 ($ million)
Table 13 Wood UV Curable Coatings Market by Geography 2020-2026 ($ million)
Table 14 Electronics UV Curable Coatings Market by Geography 2020-2026 ($ million)
Table 15 Automotive UV Curable Coatings Market by Geography 2020-2026 ($ million)
Table 16 Printing & Graphic Arts UV Curable Coatings Market by Geography 2020-2026 ($ million)
Table 17 Paper & Packaging UV Curable Coating Market by Geography 2020-2026 ($ million)
Table 18 Other End-Use UV Curable Coatings Market by Geography 2020-2026 ($ million)
Table 19 UV Curable Coatings Market by Component in APAC 2020-2026 ($ million)
Table 20 UV Curable Coatings Market by End-Use in APAC 2020-2026 ($ million)
Table 21 UV Curable Coatings Market by Component in Europe 2020-2026 ($ million)
Table 22 UV Curable Coatings Market by End-Use in Europe 2020-2026 ($ million)
Table 23 UV Curable Coatings Market by Component in North America 2020-2026 ($ million)
Table 24 UV Curable Coatings Market by End-Use in North America 2020-2026 ($ million)
Table 25 UV Curable Coatings Market by Component in Latin America 2020-2026 ($ million)
Table 26 UV Curable Coatings Market by End-Use in Latin America 2020-2026 ($ million)
Table 27 UV Curable Coatings Market by Component in MEA 2020-2026 ($ million)
Table 28 UV Curable Coatings Market by End-Use in MEA 2020-2026 ($ million)
Table 29 DSM: Major Product Offerings
Table 30 AkzoNobel: Major Product Offerings
Table 31 BASF: Major Product Offerings
Table 32 PPG Industries: Major Product Offerings
Table 33 Sherwin-Williams: Major Product Offerings
Table 34 Dymax: Major Product Offerings
Table 35 Nippon Paint: Major Product Offerings
Table 36 Cardinal Paint: Major Product Offerings
Table 37 Axalta Coating Systems: Major Product Offerings
Table 38 Jainco Industry Chemicals: Major Product Offerings
Table 39 Protech Group: Major Product Offerings
Table 40 Eternal Materials: Major Product Offerings
Table 41 DIC Corporation: Major Product Offerings
Table 42 Master Bond: Major Product Offerings
Table 43 Global UV Curable Coatings Market by Component 2020-2026 ($ million)
Table 44 Global UV Curable Coatings Market by Component 2020-2026 (% share)
Table 45 UV Curable Coatings Monomer Market by Geography 2020-2026 ($ million)
Table 46 UV Curable Coatings Monomer Market by Geography 2020-2026 (% share)
Table 47 UV Curable Coatings Photoinitiator Market by Geography 2020-2026 ($ million)
Table 48 UV Curable Coatings Photoinitiator Market by Geography 2020-2026 (% share)
Table 49 UV Curable Coatings Oligomer Market by Geography 2020-2026 ($ million)
Table 50 UV Curable Coatings Oligomer Market by Geography 2020-2026 (% share)
Table 51 UV Curable Coatings Pigments, Fillers, Additives Market by Geography 2020-2026 ($ million)
Table 52 UV Curable Coatings Pigments, Fillers, Additives Market by Geography 2020-2026 (% share)
Table 53 Global UV Curable Coatings Market by End-Use 2020-2026 ($ million)
Table 54 Global UV Curable Coatings Market by End-Use 2020-2026 (% share)
Table 55 Wood UV Curable Coatings Market by Geography 2020-2026 ($ million)
Table 56 Wood UV Curable Coatings Market by Geography 2020-2026 (% share)
Table 57 Electronics UV Curable Coatings Market by Geography 2020-2026 ($ million)
Table 58 Electronics UV Curable Coatings Market by Geography 2020-2026 (% share)
Table 59 Automotive UV Curable Coatings Market by Geography 2020-2026 ($ million)
Table 60 Automotive UV Curable Coatings Market by Geography 2020-2026 (% share)
Table 61 Printing/Graphic Art UV Curable Coatings Market by Geography 2020-2026 ($ million)
Table 62 Printing/Graphic Art UV Curable Coatings Market by Geography 2020-2026 (% share)
Table 63 Paper & Packaging UV Curable Coatings Market by Geography 2020-2026 ($ million)
Table 64 Paper & Packaging UV Curable Coatings Market by Geography 2020-2026 (% share)
Table 65 Other End-Use UV Curable Coatings Market by Geography 2020-2026 ($ million)
Table 66 Other End-Use UV Curable Coatings Market by Geography 2020-2026 (% share)
Table 67 Global UV Curable Coatings Market by Geography 2020-2026 ($ million)
Table 68 Global UV Curable Coatings Market by Geography 2020-2026 (% share)
Table 69 UV Curable Coatings Market by Component in APAC 2020-2026 ($ million)
Table 70 UV Curable Coatings Market by End-Use in APAC 2020-2026 ($ million)
Table 71 UV Curable Coatings Market by Component in Europe 2020-2026 ($ million)
Table 72 UV Curable Coatings Market by End-Use in Europe 2020-2026 ($ million)
Table 73 UV Curable Coatings Market by Component in North America 2020-2026 ($ million)
Table 74 UV Curable Coatings Market by End-Use in North America 2020-2026 ($ million)
Table 75 UV Curable Coatings Market by Component in Latin America 2020-2026 ($ million)
Table 76 UV Curable Coatings Market by End-Use in Latin America 2020-2026 ($ million)
Table 77 UV Curable Coatings Market by Component in MEA 2020-2026 ($ million)
Table 78 UV Curable Coatings Market by End-Use in MEA 2020-2026 ($ million)

Companies Mentioned

  • Royal DSM NV
  • AkzoNobel
  • BASF SE
  • PPG Industries
  • Sherwin-Williams
  • DYMAX Corp.
  • Nippon Paints
  • Cardinal Paint
  • Axalta Coating Systems, Ltd.
  • Jainco Industry Chemicals
  • The Protech Group
  • Eternal Chemical Co. Ltd
  • DIC Corporation
  • Master Bond Inc.

Methodology


Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.

Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.



 

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