Paints and Coatings In-Depth Analysis of UV Coatings Market 2016-2026

- APEJ is projected to be a relatively high growth regional market in the global UV coatings market during the forecast period

The APEJ UV coatings market was estimated to be valued at more than US$ 1,000 Mn by the end of 2016 and is projected to expand at a CAGR of 9.2% to reach more than US$ 2,000 Mn by the end of 2026. The APEJ market is projected to represent incremental $ opportunity of more than US$ 1,500 Mn between 2016 and 2026. The incremental $ opportunity in the region can be attributed to the increasing production of electronics and semiconductor goods, as well as growth of the automotive sector in China and India.
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- China is expected to be the most attractive country in the APEJ UV coatings market over the forecast period

China has been the leading country in Asia in terms of usage of radiation-cured technology. This industry has been impacted by the Chinese governments resolve to reduce VOC emissions and sanitise the environment from fog dispersed by manufacturers using radiation-cured technologies. In September 2013, the State Council released the Air Pollution Prevention and Treatment Action Plan to monitor air pollution treatment in the near future.

- Growth of the printing industry in APEJ particularly in China likely to create robust development in the global UV coatings market

The printing industry in APEJ has witnessed a robust growth since the last few years with the advent of flexographic and 3D printing for applications such as advertising, labelling, packaging, and literature publications. Due to high-quality finishing and surface protection, UV cured coatings are used on a large scale in the APEJ printing and packaging industry. The use of UV cured printing inks has gained traction as an additive for new substrate types such as ceramic and introduction of metallic effect inks in gravure printing. All these factors are creating a positive impact on the APEJ UV coatings market.
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UV curable coatings have witnessed fast development in recent years all over the world, especially in APEJ. One of the important reasons for the growth of UV coatings is improving the environmental situation worldwide. UV radiations completely convert wet coatings into 100% solids. Hence it does not release VOC into the environment. These coatings are listed as environment-friendly coatings by various government and non-government organisations.
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