Summary

The Asia-Pacific UV Curd Coating industry has emerged as a dynamic and thriving sector, driven by technological advancements, increasing demand for high-performance coatings, and the region's rapid industrialization. The industry's growth is fueled by the region's booming automotive, electronics, packaging, and construction sectors, where UV curd coatings are valued for their exceptional durability, efficiency, and environmental benefits. As businesses across Asia Pacific prioritise sustainability and regulatory compliance, UV curd coatings, with their low VOC emissions and energy-saving properties, have gained significant traction. Moreover, the versatility of UV curd coatings enables their application on a wide range of substrates, including metals, plastics, wood, and glass, making them an attractive choice for diverse industries. With a robust focus on research and development, industry collaborations, and technological innovation, the Asia-Pacific UV Curd Coating industry is poised for continued growth, offering innovative solutions and pushing the boundaries of coating performance in the region's rapidly evolving markets. The Asia-Pacific region has become a hotspot for the UV-cured coating industry, boasting a burgeoning market and immense growth potential. With rapidly developing economies, such as China, India, Japan, and South Korea, driving industrialization and manufacturing activities, the demand for UV-cured coatings has skyrocketed. Industries such as automotive, electronics, packaging, and furniture are major contributors, relying on UV-cured coatings for their superior performance, aesthetics, and eco-friendly nature. There have been significant technical developments that have revolutionised the Asia-Pacific UV-cured coating business. Manufacturers are spending money on R&D to enhance coating compositions, formulation methods, and curing systems. These developments have led to coatings with improved characteristics, including UV protection, weather resistance, chemical resistance, and scratch resistance. Additionally, cutting-edge materials and additives are being produced to meet particular industrial needs, broadening the applicability of UV-cured coatings. Several applications in several industries are being seen in the Asia-Pacific UV-cured coating market.

According to the research report "Asia Pacific UV Curd Coating Market Outlook, 2028," published by Bonafide Research, the Asia Pacific UV Curd Coating market is expected to grow at an 8.36% CAGR by 2023–2028. The Asia-Pacific region is witnessing rapid industrialization across various sectors, including automotive, electronics, packaging, and construction. As industries expand and production volumes increase, there is a growing need for efficient and high-performance coatings like UV curd coatings. These coatings offer fast curing times, allowing for increased production throughput and reduced turnaround times, thus meeting the demands of a rapidly evolving industrial landscape. Furthermore, UV curd coatings offer several health and safety benefits. They eliminate the need for heat curing, reducing the risk of fire hazards and the release of harmful fumes. Additionally, UV curd coatings are free from hazardous air pollutants (HAPs) and emit minimal odours, ensuring a safer working environment for operators. The growing awareness of health and safety considerations among businesses in the Asia-Pacific region drives the adoption of UV curd coatings. In the Asia-Pacific region, consumer preferences are shifting towards products with superior aesthetics and visual appeal. UV curd coatings provide a high-quality, glossy finish that enhances the appearance of products such as automobiles, electronics, furniture, and packaging. The ability to achieve vibrant colours, gloss levels, and special effects with UV curd coatings is driving their usage in industries where aesthetics play a significant role in consumer decision-making. Based on the types, the segment includes wood coatings, plastic coatings, overprint varnish, display coatings, and conformal coatings. In the Asia-Pacific region, the use of UV curd coatings for wood coating applications has gained significant prominence. Rapid curing periods provided by UV curd coatings enable instant handling and shorten production cycle times. In the case of wood coating operations, this efficiency translates into greater output and a quicker turnaround. Manufacturers can fulfil the needs of the quick-moving wood sector by achieving higher production volumes and shorter lead times. UV curd coatings enhance the wood's inherent beauty by providing exceptional clarity and depth. They offer a glossy finish of high quality that emphasises the colour, grain patterns, and texture of the wood substrate. UV curd coatings are a popular choice for furniture, flooring, cabinetry, and other decorative wood products due to their aesthetic appeal.

Government rules and regulations regarding UV curd coatings in the Asia Pacific region include that many countries in the region have implemented regulations to control and reduce the release of volatile organic compounds (VOCs) from coatings, including UV curd coatings. These regulations aim to minimise air pollution and promote environmental sustainability. Specific limits on VOC emissions may be imposed, and manufacturers are required to comply with these limits through the use of low-VOC formulations or the implementation of emission control measures. Furthermore, governments in the Asia-Pacific region also enforce safety and occupational health standards to protect workers involved in the production and application of UV curd coatings. These standards typically cover aspects such as personal protective equipment (PPE), safe handling and storage practises, and measures to mitigate potential risks associated with UV light exposure and hazardous materials. Some countries in the Asia-Pacific region may have specific testing and certification requirements for UV curd coatings. These regulations ensure that the coatings meet certain quality, performance, and safety standards. Testing methods may include assessments of chemical properties, adhesion, abrasion resistance, weather ability, and other relevant factors. Compliance with such testing and certification procedures may be necessary for market entry or to meet government procurement requirements.

Based on the component types, the segment includes oligomers, monomers, photoinitiators, PU dispersions, and others. In Asia Pacific, monomer components play a very important role. UV curd coatings are constructed from monomers, which are their building blocks. They make it possible for producers to modify the properties of the coating in accordance with particular requirements like adhesion, hardness, flexibility, and resistance to chemicals. The use of monomers makes it possible to tailor UV curd coatings to the specific requirements of various industrial sectors in the Asia-Pacific region. The Asia-Pacific region places increasing emphasis on environmental sustainability. Monomers used in UV curd coatings can be chosen to reduce the levels of volatile organic compounds (VOCs), which are harmful to human health and the environment. Low VOC emissions align with the region's environmental regulations and contribute to a cleaner and safer working environment. Acrylates are widely used in UV curd coatings due to their excellent curing properties and versatility. Examples include methyl acrylate, ethyl acrylate, butyl acrylate, and 2-ethylhexyl acrylate. Acrylates contribute to fast curing, good adhesion, flexibility, and weather resistance in UV curd coatings. Based on the end users, the segment includes industrial coatings, electronics, and graphic arts. Industrial coatings have the highest market share. Coatings with excellent durability and protection properties are frequently required for industrial applications. High-performance UV curd coatings are resistant to abrasion, chemicals, and UV radiation, among other things. These coatings can endure cruel modern conditions, shielding substrates from wear and corruption. UV curd coatings last a long time and don't need to be reapplied or maintained as often because of their durability. The automotive industry in the Asia-Pacific region extensively employs UV curd coatings for applications such as automotive parts, components, and refinishing. UV curd coatings provide excellent gloss, colour retention, and durability, enhancing the overall aesthetics and longevity of automotive surfaces. They are used for exterior coatings, interior trims, plastic components, alloy wheels, and other automotive parts. Furthermore, the furniture and woodworking industries extensively utilise UV curd coatings for wood finishing applications in the Asia-Pacific region. UV curd coatings offer exceptional clarity, depth, and UV resistance, enhancing the natural beauty of wood while providing a durable and protective finish. They are used for furniture, cabinets, flooring, doors, and other wood products.

Considered in this report

• Geography: Asia Pacific
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Asia Pacific UV Curd Coating market with its value and forecast along with its segments
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report:

• China
• Japan
• India
• Australia
• South Korea

By Composition

• Oligomers
• Monomers
• Photoinitiators
• PU Dispersions
• Others

By Type

• Wood Coatings
• Plastic Coatings
• Over Print Varnish
• Display Coatings
• Conformal Coatings

By End use industry

• Industrial Coatings
• Electronics
• Graphic Arts

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Smart Lighting industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.



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Table of Contents

Table of Contents

1. Executive Summary
2. Research Methodology
2.1. Secondary Research
2.2. Primary Data Collection
2.3. Market Formation & Validation
2.4. Report Writing, Quality Check & Delivery
3. Market Structure
3.1. Market Considerate
3.2. Assumptions
3.3. Limitations
3.4. Abbreviations
3.5. Sources
3.6. Definitions
4. Economic /Demographic Snapshot
5. Global UV Cured Coatings Market Outlook
5.1. Market Size By Value
5.2. Market Share By Region
5.3. Market Size and Forecast, By Composition
5.4. Market Size and Forecast, By Application Type
6. Asia-Pacific UV Cured Coatings Market Outlook
6.1. Market Size By Value
6.2. Market Share By Country
6.3. Market Size and Forecast, By Composition
6.4. Market Size and Forecast, By Application Type
6.5. Market Dynamics
6.5.1. Market Drivers & Opportunities
6.5.2. Market Restraints & Challenges
6.5.3. Market Trends
6.5.4. Covid-19 Effect
6.5.5. Supply chain Analysis
6.5.6. Policy & Regulatory Framework
6.5.7. Industry Experts Views
6.6. China UV Cured Coatings Market Outlook
6.6.1. Market Size By Value
6.6.2. Market Size and Forecast By Composition
6.6.3. Market Size and Forecast By Application Type
6.7. Japan UV Cured Coatings Market Outlook
6.7.1. Market Size By Value
6.7.2. Market Size and Forecast By Composition
6.7.3. Market Size and Forecast By Application Type
6.8. India UV Cured Coatings Market Outlook
6.8.1. Market Size By Value
6.8.2. Market Size and Forecast By Composition
6.8.3. Market Size and Forecast By Application Type
6.9. Australia UV Cured Coatings Market Outlook
6.9.1. Market Size By Value
6.9.2. Market Size and Forecast By Composition
6.9.3. Market Size and Forecast By Application Type
6.10. South Korea UV Cured Coatings Market Outlook
6.10.1. Market Size By Value
6.10.2. Market Size and Forecast By Composition
6.10.3. Market Size and Forecast By Application Type
7. Competitive Landscape
7.1. Competitive Dashboard
7.2. Business Strategies Adopted by Key Players
7.3. Key Players Market Positioning Matrix
7.4. Porter's Five Forces
7.5. Company Profile
7.5.1. The Sherwin-Williams Company
7.5.1.1. Company Snapshot
7.5.1.2. Company Overview
7.5.1.3. Financial Highlights
7.5.1.4. Geographic Insights
7.5.1.5. Business Segment & Performance
7.5.1.6. Product Portfolio
7.5.1.7. Key Executives
7.5.1.8. Strategic Moves & Developments
7.5.2. PPG Industries, Inc.
7.5.3. Akzo Nobel N.V
7.5.4. BASF SE
7.5.5. DIC Corporation
7.5.6. Eternal Materials Co Ltd
7.5.7. Nippon Paint Holdings Co., Ltd
7.5.8. Croda International plc
7.5.9. Wacker Chemie AG
7.5.10. Axalta Coating Systems Ltd.
7.5.11. Dymax Corporation
7.5.12. Ashland Inc.
7.5.13. Allnex
7.5.14. Covestro AG
7.5.15. Arkema S.A.
7.5.16. Fujikura Kasei Co. Ltd.
7.5.17. The Dow Chemical Company,
7.5.18. Jainco Industry Chemicals
8. Strategic Recommendations
9. Annexure
9.1. FAQ`s
9.2. Notes
9.3. Related Reports
10. Disclaimer

List of Figures

Figure 1: Global UV Cured Coatings Market Size (USD Billion) By Region, 2022 & 2028
Figure 2: Market attractiveness Index, By Region 2028
Figure 3: Market attractiveness Index, By Segment 2028
Figure 4: Global UV Cured Coatings Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 5: Global UV Cured Coatings Market Share By Region (2022)
Figure 6: Asia-Pacific UV Cured Coatings Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 7: Asia-Pacific UV Cured Coatings Market Share By Country (2022)
Figure 8: China UV Cured Coatings Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 9: Japan UV Cured Coatings Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 10: India UV Cured Coatings Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 11: Australia UV Cured Coatings Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 12: South Korea UV Cured Coatings Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 13: Competitive Dashboard of top 5 players, 2022
Figure 14: Porter's Five Forces of Global UV Cured Coatings Market


List of Tables

Table 1: Global UV Cured Coatings Market Snapshot, By Segmentation (2022 & 2028) (in USD Billion)
Table 2: Top 10 Counties Economic Snapshot 2020
Table 3: Economic Snapshot of Other Prominent Countries 2020
Table 4: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 5: Global UV Cured Coatings Market Size and Forecast, By Composition (2017 to 2028F) (In USD Billion)
Table 6: Global UV Cured Coatings Market Size and Forecast, By Application Type (2017 to 2028F) (In USD Billion)
Table 7: Asia-Pacific UV Cured Coatings Market Size and Forecast, By Composition (2017 to 2028F) (In USD Billion)
Table 8: Asia-Pacific UV Cured Coatings Market Size and Forecast, By Application Type (2017 to 2028F) (In USD Billion)
Table 9: Influencing Factors for Global UV Cured Coatings Market, 2022
Table 10: China UV Cured Coatings Market Size and Forecast By Composition (2017 to 2028F) (In USD Billion)
Table 11: China UV Cured Coatings Market Size and Forecast By Application Type (2017 to 2028F) (In USD Billion)
Table 12: Japan UV Cured Coatings Market Size and Forecast By Composition (2017 to 2028F) (In USD Billion)
Table 13: Japan UV Cured Coatings Market Size and Forecast By Application Type (2017 to 2028F) (In USD Billion)
Table 14: India UV Cured Coatings Market Size and Forecast By Composition (2017 to 2028F) (In USD Billion)
Table 15: India UV Cured Coatings Market Size and Forecast By Application Type (2017 to 2028F) (In USD Billion)
Table 16: Australia UV Cured Coatings Market Size and Forecast By Composition (2017 to 2028F) (In USD Billion)
Table 17: Australia UV Cured Coatings Market Size and Forecast By Application Type (2017 to 2028F) (In USD Billion)
Table 18: South Korea UV Cured Coatings Market Size and Forecast By Composition (2017 to 2028F) (In USD Billion)
Table 19: South Korea UV Cured Coatings Market Size and Forecast By Application Type (2017 to 2028F) (In USD Billion)