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UV Curable Coatings Market size to surpass $12 Bn by 2032

  • Published Date: November 16, 2022

UV Curable Coatings Market size is anticipated to surpass a valuation of over USD 12 billion by 2032, as per a recent research report announced by Global Market Insights Inc.

Surging demand for UV curable coatings from the automotive sector is expected to positively influence the industry landscape. UV curable coating offers surfaces great physical durability and superior scratch resistance, which has fuelled its adoption among automotive manufacturers. In addition, other benefits such as glare reduction of glass, anti-fogging, and minimization of dangerous UV radiation are stimulating the revenues from the automotive sector.

Superior mechanical properties of polyester acrylates to impel resin segment expansion

On the basis of resin, the market is segmented into urethanes acrylates, polyester acrylates, and epoxy acrylates. The market size from polyester acrylates resin segment is poised to surpass USD 2 billion by 2032. Polyester acrylates have fast and enhanced coating processes, which greatly favor their adoption. Moreover, some of their other attributes, such as superior mechanical properties and high viscosity also favor their adoption across a plethora of applications.

Excellent adhesion of solvent-borne coatings to drive technology segment growth

On the basis of technology, the UV curable coatings market is bifurcated into solvent-borne and water-borne coatings. Amongst them, the solvent-borne coatings segment share is slated to depict a valuation of over USD 6 billion, registering more than 7.5% CAGR over 2023 - 2032. Solvent-borne coatings are majorly used in flat panels and offer superior adhesion. High demand for such coatings can be attributed to their elasticity properties and fast cure time. In addition, they also provide an overall aesthetically smooth finish, which greatly contributes to segment expansion.

Rising construction projects to fuel architectural & building application segment

Architectural & building segment is expected to record more than 8% CAGR through the study period. A major chunk of the growth can be ascribed to the growing number of construction projects across the globe. Many world governments, to kickstart their economies, have made significant investments towards construction and infrastructure, augmenting segment outlook. Meanwhile, fueled by tightening green building regulations, increasing adoption of green products such as UV curable coatings across such projects, is also expected to consolidate revenue growth.

Browse key industry insights spread across 261 pages with 290 market data tables and 25 figures & charts from the report “UV Curable Coatings Market Statistics By resin (Epoxy Acrylates, Polyesters acrylates, Urethanes acrylates, Others), Technology (Water borne, Solvent borne), Application Architectural & Building, Automotive & Transit, Furniture & Woodworking, Electronics, Graphic art & Printing Inks, Others), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2023 – 2032”, in detail along with the table of contents:

Growing demand for eco-friendly homes to foster LATAM industry share

Latin America UV curable coatings market share is anticipated to cross USD 675 million by 2032, driven by the steady economic development of the region’s middle-income population. With a steadily growing buying power, many in this demographic are seeking out living spaces that are well-maintained and eco-friendly as well, which is spurring regional growth in construction, and subsequently the UV coatings sector.

Product innovations to outline competitive landscape for UV curable coatings market

Some key contenders in the UV curable coatings industry include BASF SE, PhiChem Corporation, Teknos Group, Sherwin Williams, Dow, Arshland Inc., Allied PhotoChemical, and Akzonobel NV among others. The industry’s crowded nature is pushing many players to focus on continuous product innovations to stand out from the competition.

Authors: Kiran Pulidindi, Hiralkumar Patel