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A UV coating (or, more broadly, a radiation cured coating) is a surface treatment that cures or protects the underlying material against the damaging effects of ultraviolet radiation. The expanding construction industry, as well as consumer awareness of environmentally friendly products, are the key drivers of this industry's expansion. Another important point is that it performs better than other coatings. UV radiation toughens a formulation of numerous materials by creating free radicals, which then activates the light-induced polymerization process of the reactive double bonds in the coating formulation, resulting in UV cured coating.
UV Coatings Market Report Scope and Research Methodology:
The Market report provides historical data as well as revenue growth estimates at the regional, and national levels, as well as a full analysis of UV Coatings market trends in each of the key segments and their sub-segments from 2022 to 2029. The Stellar Market Research team's major research approach is data triangulation, which includes an investigation of the impact of data variables on the UV Coatings market, data mining, and primary (industry expert) validation.The research report covers the market's past and present state, as well as predicted trends and size. The report provides an easy-to-understand examination of the UV Coatings market's intricate statistics. report. SWOT analysis was utilised to identify the strengths, weaknesses, opportunities, and threats for major players in the UV Coatings industry, and a bottom-up technique was employed to estimate market size.
UV Coatings Market Report Overview:
The forecast was created mostly by analysing past data and current industry trends in the UV Coatings Market. It includes market size, share, regional analysis, dynamics, CAGR, ad future trends, making the study a guide for investors as it provides a futuristic view of the UV Coatings Industry.
UV Coatings Market size was valued at US$ 5.58 Billion in 2022 and the UV Coatings Market revenue is expected to grow at 8.70% through 2023 to 2029, reaching nearly US$ 10.02 Billion.
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UV Coatings Market Dynamics:
Businesses must adhere to severe rules and regulations about air pollution, waste disposal, and safety and health, which drives the growth of the UV coatings market. UV coatings technology offers two major advantages that have earned it the label "green." To begin, most UV coating formulas are free of volatile organic compounds (VOCs) and hazardous air pollutants (HAPs). Second, drying a UV coating requires substantially less energy than drying a typical solvent or even a water-based coating.
UV Coatings Market Segmentation:
The monomers segment held the largest market share of the UV coatings market in 2020, accounting for more than 40%. Monomers are low-molecular-weight molecules that diminish the viscosity of a solution. They are also nonflammable and have a pleasant odour. Monomers include acrylic acid esters and simple monofunctional/multifunctional polyols.
The functionality of the monomer has a significant impact on the properties of the cured coating. Acrylic functional groups are frequently used to choose monomers. Monomer mixes are frequently utilised to improve a product's performance. All of these factors may drive the monomer segment of the UV coatings market over the projected period.
Water-based coatings accounted for more than 38% of the UV coatings market in 2020. The primary reason for this is that water-based UV coatings may be cleaned with water rather than expensive chemicals. Water-based coatings are very popular since they are non-flammable. Prospects for the coating technology industry reflect environmental concerns and, as a result, are governed by legislation.
According to the regulations, solvent-based coatings' market share is progressively declining, while alternative environmentally friendly coatings, particularly water-based coatings, are steadily increasing. This trend is projected to continue during the forecast period. Water-based coatings are gaining popularity in the automotive industry. UV coatings are utilised as filler primers because they cure quickly. Because of their physical drying, water-based UV coatings can also coat 3D objects. The Deco paint directive in Europe and regulatory constraints in North America have favoured water-based paints.
UV-curable polymers on the UV coatings market include polyesters, epoxies, urethanes, silicones, and acrylates, to name a few. The majority of these resins are free-radical curing oligomers with acrylic functionalization that cure in a matter of seconds. Acrylic resins are hydrolysis, weathering, and glare resistant. They can also colour coat solutions in a variety of ways. Acrylic coatings are mostly utilised in the construction industry to provide a high level of polish on rods, bridges, floors, decks, and other surfaces.
UV Coatings Market Key Players:
AkzoNobel N.V. (Netherlands)
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)
Key Questions answered in the UV Coatings Market Report are:
What are the UV Coatings market segments?
Which region of the UV Coatings market is expected to grow at a high rate during the forecast period?
What is the expected CAGR of the UV Coatings market during the forecast period?
What are the emerging trends in the UV Coatings market?
What are the factors restraining the UV Coatings market growth?
Key offerings:
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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