Selbyville, Delaware, Nov. 16, 2022 (GLOBE NEWSWIRE) -- According to a recent report by Global Market Insights Inc., the global UV curable coatings market is anticipated to cross a valuation of USD 12 billion by 2032.
Increasing application of UV curable coatings in the manufacturing sector is likely to positively impel market growth. UV curable coatings on different surfaces offers numerous benefits such as quicker cure times, enhanced process efficiency and production speed, better sustainability, which drives their use. Moreover, the industry outlook is also being shaped by the growing industry player focus on deriving UV curable materials from more sustainable as well as bio-based sources to develop efficient products.
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Extensive use of epoxy acrylates to accelerate resin segment expansion
On the basis of resin, the industry is segmented into epoxy acrylates, urethanes acrylates, polyesters acrylates, and others. The UV curable coatings market size from the epoxy acrylates segment is expected to cross USD 5 billion by 2032. Epoxy acrylates-based resins witness extensive use in industries such as furniture, wood, joinery, flatstock, flooring, and others. Epoxy acrylates boast of very fast curing times, high hardness, and excellent chemical resistance, which drives its adoption in these industries.
Low drying times of solvent-based coatings to foster technology segment expansion
On the basis of technology, the UV curable coatings market is segmented into solvent-borne and water-borne coatings. Amongst them, the solvent-based coatings segment is expected to show considerable growth, primarily driven by the low drying time of this coatings technology in addition to its ability to impart an aesthetically pleasing level of finish on surfaces. These coatings are less prone to environmental factors such as humidity and temperature during the curing phase, which makes them highly sought after among sectors such as automobiles, and furniture among others.
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:
https://www.gminsights.com/industry-analysis/uv-curable-coatings-market
Superior print quality to foster graphic art & printing inks application segment
With regards to the application spectrum, the UV curable coatings market is bifurcated into graphic art & printing inks, furniture & woodworking, architectural & building, electronics, automotive & transit, and others. The market size from the graphic art & printing inks segment is anticipated to record over 7.5% CAGR from 2023 to 2032. UV curable inks maintain dimensional stability even at higher production speeds, while also ensuring a superior quality print and bright colors, which is likely to stimulate segment expansion.
Strict environmental norms to strengthen North America UV curable coatings industry
North America market is poised to witness a 7.8% CAGR from 2023 to 2032, amassing a valuation of more than USD 2 billion by the end of the study duration. The presence of government regulations, geared towards minimizing the usage of toxic elements in the coatings industry, is slated to stimulate regional outlook. These strict environmental norms augment the use of green coatings and establish North America as a prominent growth avenue for the industry.
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Frequent product launches to define UV curable coatings market outlook
Some of the leading players in the UV curable coatings industry include Axalta Coatings Ltc., Dow, Arshland Inc., SDC Technologies, Dymax Corporation, Master Bond Inc., Cardinal, Teknos Group, Allied PhotoChemical, Sakata Inx, and others. Many companies are increasingly emphasizing on launching more enhanced products to improve their competitive standing.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
