UV Coatings Value Market

Fastest Growing Segment Fueling the Growth of UV Coatings Value Market

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The global UV Coatings value market is estimated to be valued at US$ 5131.35 Mn or Bn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview: –

UV coatings provide protective coats on substrates and enhance printing quality, durability, and scratch resistance properties. They are widely used in graphics, wood, plastic, metal packaging and other industrial applications where resistance to fading, abrasion, and corrosion is important.

Market key trends: –

One of the key trends in the UV coatings value market is its increasing use in graphics applications such as commercial printing, product packaging, and label printing. UV coatings provide excellent adhesion, cure speed, and durability required for various graphics applications. They allow high-quality printing on a variety of substrates including plastic films, corrugated boards, metal, glass, and paper. UV coatings have low volatile organic compound emissions and consume less energy during the curing process compared to traditional technologies. This has further increased their preference among commercial printers.

Segment Analysis: –

The global UV coatings value market is segmented by resins type into polyester, epoxy acrylate, urethane, and others. The epoxy acrylate segment dominated the market in 2023 and is expected to continue dominating over the forecast period. Epoxy acrylate resins are more durable and long-lasting as compared to other resin types. They produce UV-cured coatings with higher scratch and chemical resistance. These advantages make epoxy acrylate coatings suitable for a wide range of applications like wood, plastic, and metal floor coatings.

Key Takeaways: –

Market size: – The Global UV Coatings value market Size is expected to witness high growth, exhibiting CAGR of 7.4% over the forecast period, due to increasing demand from wood, plastic, and graphic arts industries.

Regional analysis: – North America dominated the global market in 2023 and is expected to maintain its lead over the forecast period. This can be attributed to the growth of the wood flooring and plastic industries in the region.

Key players: – Key players operating in the UV coatings value market are BASF SE, Akzo Nobel N.V., Arkema Group, PPG Industries Inc., Axalta Coating System LLC., The Valspar Corporation, The Sherwin-Williams Company, Croda International Plc., Watson Coatings, Inc., Allnex Belgium SA/NV, Sokan New Materials, and Dymax Corporation. BASF SE and AkzoNobel N.V. accounted for over 20% of the global revenue share in 2023.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it