UV Coatings Market Projected to Garner Significant Revenues by 2026

Valley Cottage, NY — (PRESS RELEASE JET) — 10/25/2017 — After being plagued for years with “imperfect” production techniques, manufacturers of UV coatings are rapidly adopting technological advancements to put in action an eco-friendly method of producing UV coatings. Future Market Insights notifies how several government and non-government organisations in the world have listed ways in which UV coatings can be produced without harming the environment. Manufacturing such eco-friendly UV-curable coatings has, thus, propelled the growth of global market for UV coatings.

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At present, Future Market Insights values the global UV coatings market at US$ 3,429.5 Mn. According to its latest report, the global market for UV coatings is expected to surge steadily at 6.1% CAGR and bring in an estimated US$ 6,187.2 Mn revenues by the end of 2026. While favourable environmental regulations will keep inducing growth in global UV coatings production, the demand for such products will also witness a considerable hike on the account of booming global automotive industry. Considering the significance of refinish coatings in the production as well as aftermarket servicing of automobiles, consumption of UV-curable coatings will also remain significant by OEMs and aftermarket suppliers.

In the report, titled “UV Coatings Market: Global Industry Analysis and Opportunity Assessment, 2016-2026,” the global market for UV coatings will witness higher growth in terms of consumption of water-based coatings. In 2016, more than 225 KT on water-based UV coatings were globally consumed, attributing to nearly 60% of global market value. Ultimately, the demand for solvent-based UV coatings is also expected to drop over the forecast period, alluding to challenges in procurement of complex solvents and volatile raw material prices.

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Furthermore, the demand for water-based coatings is also driven by greater end-use of UV coatings in wood & furniture polishing. By the end of 2026, over 140 KT of UV coatings will be consumed globally by wood & furniture end-use. Nevertheless, consumer electronics will be the largest end-user industry for UV coatings – procuring revenue growth at an impressive 8.2% CAGR. Based on the composition of these coatings, the market’s growth will be majorly inclined towards soaring demand for photo-initiators. In terms of revenues, global sales of photo-initiator UV coatings will account for more than 40% share through 2026. Although, revenues from oligomer UV coatings will be rising rampantly at 6.7% CAGR.

The report further reveals that demand for UV coatings will remain substantially higher in the Asia-Pacific excluding Japan (APEJ) region. A little less than half of global UV coatings revenues will be emanating from this region, registering a robust value CAGR of 9.2%. Middle East and Africa’s UV coatings market will also soar rapidly, while North America and Europe will witness a sluggish growth in their UV coatings sales.

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According to the report, Akzo Nobel NV, PPG Industries, and The Sherwin-Williams Company are observed as leading manufacturers in the world. European companies such as BASF SE, Arkema, Croda International Plc., and Allnex Belgium, are also prominent players in the global UV coatings market. Other companies profiled in the report include, China’s Sokan New Materials, and US-based chemical manufacturers such as Dymax Corporation, Watson Coatings, Inc., The Valspar Corporation, and Axalta Coating Systems LLC.

Global UV Coatings Market Report is available at US$ 5795 – https://www.futuremarketinsights.com/checkout/1509

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About the Author: Carrie Brunner

Carrie Brunner grew up in a small town in northern New Brunswick. She studied chemistry in college, graduated, and married her husband one month later. They were then blessed with two baby boys within the first four years of marriage. Having babies gave their family a desire to return to the old paths – to nourish their family with traditional, homegrown foods; rid their home of toxic chemicals and petroleum products; and give their boys a chance to know a simple, sustainable way of life. They are currently building a homestead from scratch on two little acres in central Texas. There’s a lot to be done to become somewhat self-sufficient, but they are debt-free and get to spend their days living this simple, good life together with their five young children. Carrie writes mostly on provincial stories.
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