The global UV coatings market is likely to showcase a growth of around 9% during the forecast period. Currently, the market for UV coating is in the developing stage when compared with the paints & coatings industry as a whole. Lack of awareness about the benefits of UV coating and high cost compared to other substitutes are some of the key factors which are resisting the market growth. However, it is expected that during the foreseeable future, the consumption of UV coating grows significantly as consumers are looking for coating products that help in improving operational productivity while at the same time being easy to use. UV coating has the ability to offer both advantages. UV technology products cure almost instantaneously. Just after curing, coated substrates can immediately be handled, packaged, and stored. Short cure times and lines drastically increase speed and the customer’s productivity compared to conventional paint.
Insights Presented in the Report
“Amongst formulation, solvent-based UV coating held a prominent share in the market in 2020”
Based on the formulation, the market is categorized into water-based and solvent-based UV coating. Of both, solvent-based accounted for a significant share in 2020. This can be ascribed to its low cost while simultaneously offering a good level of surface finish. However, as the world is looking toward sustainability, it is expected that the demand for water-based UV coating would grow significantly during the forecast period.
“Amongst application, fertilizers accounted for a dominant share in 2020”
Based on application, the market is categorized into industrial coatings, electronics, and graphic arts. Among these, the industrial coatings segment held the prominent market share owing to the large application area including wood coating and plastic coating. Further, emerging areas such as electric vehicles are likely to fuel segmental growth during the foreseeable future.
“Asia-Pacific is likely to showcase significant growth during the forecast period”
For a better understanding of the market adoption of UV coatings, the market is analyzed based on its worldwide presence in the countries such as North America (the United States, Canada, Rest of North America), Europe (Germany, the United Kingdom, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and Rest of World. In 2020, the Asia-Pacific region held a significant share of the global UV coating market and is likely to showcase robust growth over the forecast period. This can be ascribed to the presence of a large number of end-use consumers ranging from industrial sectors to graphic arts. Moreover, a large portion of consumers are still unaware of UV technology, therefore it is expected that with increasing awareness about the benefits of UV coating, its demand is likely to grow in the regional economies during the forecast period.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Impact Of Covid-19 On The Metallized Film Market
6. Metallized Film Market Revenue (usd Bn), 2020-2028f
7. Market Insights By Material
8. Market Insights By End-use
9. Market Insights By Region
10. Metallized Filmmarket Dynamics
11. Metallized Filmmarket Opportunities
12. Metallized Filmmarket Trends
13. Demand And Supply-side Analysis
14. Value Chain Analysis
15. Competitive Scenario
16. Company Profiled
17. Disclaimer
Research Methodology for Global UV Coatings Market Analysis (2020-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of UV coatings, three major steps are undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the UV coatings industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of UV coatings through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the UV coatings market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. The major segment is included in the report by formulation and application. Further regional and country-level analyses were conducted to evaluate the overall adoption of UV coatings globally.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of UV Coatings. Further, we conducted factor analysis using dependent and independent variables such as the increasing demand from the end-use industry and low-VOC content. A thorough analysis was conducted of demand and supply-side scenarios considering an increasing investment, top partnerships, mergers and acquisitions, business expansion, and product launches in the UV Coatings industry.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global UV coatings market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants by Stakeholders and Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global UV coatings market. Data was split into several segments & sub-segments post studying various parameters and trends in the area of formulation and application.
The main objective of the UV Coatings market study
The current & future market trends of global UV Coatings were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
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