PUNE, India, October 7, 2015 /PRNewswire/ --
The report, "UV Nail Gel Market by Chemistry (Acrylate, Methacrylate, Cyanoacrylate), and Regional Analysis (Asia-Pacific, North America, Europe, and ROW) - Global Trends & Forecasts to 2020" published by MarketsandMarkets, Global demand for UV Nail Gel is projected to reach $59.31 Million by 2020 at a CAGR of 6.5% from 2015 to 2020
Browse 42 market data Tables and 44 Figures spread through 93 Pages and in-depth TOC on "UV Nail Gel Market"
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UV Nail Gel Market defines and segments the report with an analysis and forecast of by chemistry in terms of value.
"North America is the key market for UV nail gel due to the increasing fashion awareness and increase in per capita income.
North America dominated the UV nail gel market in 2014 and accounted for over 53% of the market size, in terms of value. In terms of individual countries, the market is dominated by U.S. on account of increased demand for innovative and efficient products that can be applied to the nail care industry. U.K. is the second-largest UV nail gel consumer in the world. UV nail gel gives a shiny look and has a fast curing time. RoW is expected to witness the highest CAGR during the next five years due the low base effect. However, Asia-Pacific is expected to witness a prominent growth rate due to the increasing fashion awareness and increase in per capita income. These factors are expected to help to start a trend of nail gel use in the region. Asia-Pacific market is expected to be primarily driven by Japan and China.
The factors driving the growth of UV nail gel market include the growth of nail care industry and advanced technology in fashion, affordability and durability, high growth of U.S. nail care industry and preference of gel over acrylics. This is a developing market due to growing demand for efficiency and superior properties of UV nail gel. However, restraints for UV nail gel markets are exposure to UV light, high competition from major players and use of acetone while removal of nail gels.
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"Methacrylate dominate the UV nail gel market by chemistry"
Methacrylate is the most commonly consumed UV nail gel, they accounted for 95% share of the total market size, in terms of value in 2014. Global demand for UV nail gel is projected to reach $59.31 Million by 2020. They are estimated to continue being the most consumed UV nail gel with the highest CAGR between 2015 and 2020. Methacrylate is followed by acrylate with a market share of 5% in the same year. The main utility of using UV nail gel is its durability which is not possible without methacrylate. This is because it acts as a bonding agent used in artificial nail products. This in turn increases the demand of methacrylate.
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