UV Coatings Market Overview
UV Coatings market size was valued at US$ 6.06 Billion in 2023 and the UV Coatings Market revenue is expected to grow at 8.70% through 2024 to 2030, reaching nearly US$ 10.87 Billion.
A UV coating (or, more broadly, radiation cured coating) is a surface treatment that either cures or protects the underlying material from the detrimental effects of ultraviolet radiation. The rising construction industry, as well as consumer awareness of eco-friendly products, are the primary drivers of this industry’s growth. Another major factor is that it outperforms other coatings in terms of performance. A formulation of many ingredients is toughened by ultraviolet radiation, which creates free radicals, which then initiates the light-induced polymerization process of the reactive double bonds in the coating formulation, resulting in UV cured coating. The global report on UV Coatings Market provides the segment analysis based on the basis of composition, formulation, resin, substrate, end use industry and region. while doing the market study and analysis we have considered end use industries as Aerospace & Defense, Automotive, Construction, Industrial, Electronics, Textile, Printing, Architecture, Food & Beverage, Marine, Graphic Arts, Packaging, Consumer Goods and Others.
UV Coatings Market Report Scope and Research Methodology
The businesses must comply with stringent rules and regulations relating to air pollution, waste disposal, and safety and health which leads the UV coatings market growth. UV coatings technology has two key advantages that have led to its designation as “green.” To begin with, most UV coating formulations are devoid of large amounts of volatile organic compounds (VOCs) or dangerous air pollutants (HAPs). Second, the energy required to dry a UV coating is significantly less than that required to dry a traditional solvent or even a water-based coating.
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UV Coatings Market Regional Insights
Thanks to the region’s construction industries, the Asia-Pacific region held a 42% share of the UV coatings market in 2023. The automotive industry is another element driving the growth of the UV coatings market in this region. Japan’s, India’s, China’s, and Malaysia’s economies are rapidly industrializing and urbanizing. The building & construction industry in India is the backbone of the economy. Between April 2000 and December 2020, FDIs in the construction development industry 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).
UV Coatings Market Segmentation
In 2020, the monomers segment had the highest market share of the UV coatings market, accounting for more than 40%. Monomers are molecules with a low molecular weight that reduce the viscosity of a solution. They’re also non-flammable and have a mild odor. Acrylic acid esters and simple monofunctional/multifunctional polyols are examples of monomers.
UV Coatings Market Key Players
The Dow Chemical Company (United States)
PPG Industries Inc. (United States)
3M (United States)
Asian Paints Ltd. (India)
The Valspar Corporation (United States)
The Sherwin-Williams Company (United States)
DIC Corporation (Japan)
Axalta Coating Systems LLC (United States)
Royals DSM N.V. (Netherlands)
ACG Industrie (France)
BASF SE (Germany)
Glidden (United States)
For in-depth information on this study, visit the following link:https://www.stellarmr.com/report/UV-Coatings-Market/185
Key questions answered in the UV Coatings Market are:
- What is UV Coatings?
- What was the UV Coatings market size in 2023?
- What is the growth rate of the UV Coatings Market?
- Which are the factors expected to drive the UV Coatings market growth?
- What are the different segments of the UV Coatings Market?
- What growth strategies are the players considering to increase their presence in UV Coatings?
- What are the upcoming industry applications and trends for the UV Coatings Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the UV Coatings Market?
- What segments are covered in the UV Coatings Market?
- Who are the leading companies and what are their portfolios in UV Coatings Market?
- What segments are covered in the UV Coatings Market?
- Who are the key players in the UV Coatings market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
About Stellar Market Research:
Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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