VALLEY COTTAGE, New York, March 17, 2017 /PRNewswire/ --
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.
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.
Request a Sample Report with Table of Contents: http://www.futuremarketinsights.com/reports/sample/rep-gb-1509
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.
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.
Preview Analysis on Global UV Coatings Market Segmentation by Base - Water Based, Solvent Based; By Composition - Monomers, Oligomers (Polyesters, Polyether, Polyurethane, Epoxy Resins), Photo-Initiators and Additives; By End Use Industry - Wood & Furniture, Electronics, Automotive, Paper & Packaging, Industrial Coatings and Building & Construction: http://www.futuremarketinsights.com/reports/uv-coatings-market
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.
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.
More from FMI's Cutting-edge Intelligence:
- Ammonium Sulphate Market Segmentation By Manufacturing Process - Caprolactam, Coke Oven Gas, Gypsum And Neutralization & Others; By Regions - Asia Pacific Excluding Japan (APEJ), North America, Western Europe, Eastern Europe, Latin America, Middle East & Africa, Japan: http://www.futuremarketinsights.com/reports/western-european-buyers-eying-asian-suppliers-for-uninterrupted-ammonium-sulphate-supply-market
- Ceramic Tiles Market Segmentation By Product - Floor Tiles, Wall Tiles; By Application - Residential Replacement, Commercial, New Residential: http://www.futuremarketinsights.com/reports/ceramic-tiles-market
- Construction Aggregates Market Segmentation By Product - Crushed Stone, Sand, Gravel and Others; By Application - Residential, Commercial, Industrial and Infrastructure: http://www.futuremarketinsights.com/reports/construction-aggregates-market
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.
Browse More Chemicals & Materials Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
T (UK): + 44 (0) 20 7692 8790
Press Office: Press@futuremrketinsights.com
SOURCE Future Market Insights