Global UV Nail Gel Market to Reach $65.8 Million by the Year 2026

UV gel nail extension is among the latest nail extension technologies available. Gel is the unique material that turns hard when exposed to UV light and forms a sturdy coverage over the nail. Growth of the UV nail gel market is being fueled by technological developments, growth of the nail care market, durability and cost effectiveness of the product, growth of the fashion market in the US, and rising preference among customers for gel nails. Methacrylate has been the main chemical used in the UV nail gel market. The market is expected to gain from the emergence of new and improved products and better techniques that lead to a reduction in the cost of UV nail gel. Rising customer interest in latest fashion trends and novel technologies are also likely to bode well for the market. Market gains are also anticipated to be driven by the rising influence of social media and growing use of home salon services. Furthermore, the growing interest in nail art is driving the market for UV nail gel.

Amid the COVID-19 crisis, the global market for UV Nail Gel estimated at US$47 Million in the year 2020, is projected to reach a revised size of US$65.8 Million by 2026, growing at a CAGR of 5.9% over the analysis period. Methacrylate, one of the segments analyzed in the report, is projected to grow at a 5.9% CAGR to reach US$66.9 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Other Chemistries segment is readjusted to a revised 4.8% CAGR for the next 7-year period. This segment currently accounts for a 4.9% share of the global UV Nail Gel market.

The U.S. Market is Estimated at $18.5 Million in 2021, While China is Forecast to Reach $4.8 Million by 2026

The UV Nail Gel market in the U.S. is estimated at US$18.5 Million in the year 2021. The country currently accounts for a 37.97% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$4.8 Million in the year 2026 trailing a CAGR of 7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.6% and 5.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.5% CAGR while Rest of European market (as defined in the study) will reach US$5.2 Million by the year 2027. In North America, strong growth of the fashion industry, growing fashion consciousness, surging demand for nail services, launch of novel gel products, growing disposable incomes, and increased product innovations are driving gains in the market. Growing urbanization and expanding middle class population contribute to growth in the Asia-Pacific region.