UV COATINGS VALUE MARKET ANALYSIS

Regional Analysis

Global UV Coatings Value Market: Regional Analysis

Asia Pacific region held the largest share in the UV Coatings Value Market in 2022 up to 34%, due to the local construction industries. The automotive industry is another factor boosting the UV coatings market in this region. Rapid industrialization and urbanization are taking place in the economies of Japan, India, China, and Malaysia. India's economy is driven by the construction industry. Between April 2000 and December 2020, FDIs in the construction development sector and construction activities totaled US$25.93 billion and US$23.99 billion, respectively, according to the Indian Department for Promotion of Industry and Internal Trade (DPIIT). Even with the pandemic, the Asia Pacific region has kept expanding. The largest coatings market in the world by volume is now China. During the forecast period, all of these growth trends are anticipated to persist.

The demand for domestic and industrial applications, such as coatings for wood, paper, and plastic, is growing in the European market. In Europe, UV coating was most commonly used for wood coating, then for high-growth applications like coating paper and plastic. Overprint varnish coating application demand dominates the North American market, which is predicted to grow significantly over the following six years.

• North America: U.S. and Canada
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Middle East &Africa:  South Africa, GCC Countries, Rest of Middle East & Africa