UV Coatings Market Size To Reach US$ 6,079 Million By 2032 | New Opportunities Planning By Future Market Insights

UV Coatings Market

Demand in the global UV coatings market is projected to increase at a healthy 5.2% CAGR between 2021 and 2031. As per the report, the market size reached US$ 3,677 Mn in 2021. Sales in the UV coatings market represented nearly 43.1% of the global radiation curable coatings market in 2021.

The global UV Coatings Market reached a valuation of US$ 3.6 Bn in 2021. The growing use of UV coatings in the wood and furniture industry to provide a glossy finish and protect print marketing items from scratches is expected to boost sales at a 5.2% CAGR, with the market valuation reaching US$ 6 Bn in 2031.

“Surging demand for low VOC UV coatings in the automotive sector and the expansion of the pulp & paper industry are expected to drive sales in the market over the forecast period,” says a FMI analyst.

Green coatings are the latest trend in the UV coatings market. These coatings are environment friendly that help reduce pollution at any stage of the process. They are normally more expensive than other paints and coatings on the market; however, they are more advantageous and have comparable performance characteristics to regular hazardous paints.

Green coatings are becoming more popular in the coating industry as environmental regulations and standards become more stringent, particularly in Europe and North America. As a result, the demand for UV curable coatings is booming.

UV coatings for woods and glass give printed products like printed materials, posters, and banners a glossy surface, an appealing visual aesthetic and a matte texture. Increasing applications of 3D printing in numerous industries and growing demand from the print marketing sector will continue pushing sales in the paper and packaging industries.

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As per FMI’s regional analysis, East Asia and Europe are expected to remain the most lucrative pockets in the market. The presence of leading manufacturers, high consumption of UV coatings by various end-use sectors, and the substantial growth in the automotive and paper & packaging industries will fuel the growth of the market in these regions over the assessment period.

Scope of the Report

Attribute Details
Forecast Period 2021-2031
Historical Data
Available for
2016-2020
Market
Analysis
US$ Billion for Value and KiloTons for Volume
Key Regions
Covered
North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa
Key Countries
Covered
US, Canada, Brazil, Mexico, Germany, U.K., France, Italy, Spain, Russia, BENELUX, China, Japan, South Korea, India, ASEAN, GCC Countries, Turkey, and South Africa
Key Segments
Covered
Composition, Type, End Use and Region
Key Companies
Profiled
• Arkema Group 

• BASF SE

• Akzo Nobel NV

• PPG Industries

• Axalta Coating Systems LLC

• The Valspar Corporation

• The Sherwin Williams Company

• Croda International PLC

• Dymax Corporation

• Allnex Belgium SA/NV Ltd.s

• Watson Coatings Inc.

Report
Coverage
Market Forecast, Brand Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives

Key Takeaways:

  • By composition, the monomer segment accounted for more than 35% of total UV coatings market share in 2021.
  • Sales of water-based UV coatings held about 35.6% of the total market share in 2021.
  • The U.S. is accounted for a dominant share of 89.2% of the North America UV coatings market in 2021.
  • Germany is projected to command 21.7% of the Europe UV coatings market share in 2031.
  • China and Japan accounted for 68.9% and 13.6% of the global UV coatings market share respectively in 2021.

Competitive Landscape

Leading players operating in the global UV coatings market include Arkema Group, BASF SE, Akzo NobelNV, PPG Industries, Axalta Coating Systems LLC, The Valspar Corporation, The Sherwin Williams Company, Croda International PLC, Dymax Corporation, Allnex Belgium SA/NV Ltd., and Watson Coatings Inc. and others.

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Players are investing in strategic business agreements and are focusing on the expansion of their production capacities. Apart from this, they are investing in research and development to develop advanced flexible products and to launch better technologies in the market that can minimize power losses.

UV Coatings Markey by Category

By Composition:

  • Monomer
  • Oligomer
    • Polyester
    • Polyether
    • Polyurethane
    • Epoxy
  • Photo Initiator
  • Additives

By Type:

  • Water-Based
  • Solvent-Based

By End Use:

  • Wood & Furniture
  • Electronics
  • Automotive
  • Paper & Packaging
  • Industrial Coatings
  • Building & Construction

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia and Pacific
  • Middle East and Africa

Related Links:

https://london-news-community.tribeplatform.com/general/post/wood-pellets-market-size-share-demand-growth-trends-by-2032-l6Fekr7qXteWIh8

https://waoop.com/read-blog/41369

https://adhipatialumni.com/blogs/65899/Wood-Pellets-Market-Size-Share-Demand-Growth-Trends-by-2032

https://writeablog.net/w7uis27o77

https://www.xaphyr.com/blogs/215269/Wood-Pellets-Market-Size-Share-Demand-Growth-Trends-by-2032

About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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