UV Cured Coatings Market Outlook, 2028

UV Curd, also known as ultraviolet curd, is a photochemical technique that uses intense ultraviolet light to immediately cure or dry inks, adhesives, or coatings. Compared to conventional curing and drying techniques like PVC coatings, UV coatings offer a number of advantages. UV-cured coatings are widely utilised to enhance production efficiency and improve scratch and solvent resistance. The global UV curd coating market represents a thriving and multifaceted industry that encompasses a wide array of sectors and applications. UV curd coatings have emerged as a disruptive technology within the coatings industry, offering a multitude of advantages and presenting innovative solutions to various coating challenges. These coatings undergo a unique curing process facilitated by exposure to ultraviolet light, resulting in rapid and efficient hardening and exceptional performance characteristics. The global UV curd coating market has experienced remarkable growth in recent years, fueled by the growing demand for sustainable and environmentally friendly coating solutions. With stringent regulations regarding volatile organic compounds (VOCs) and increasing emphasis on reducing carbon footprints, UV curd coatings have gained traction as a viable alternative to traditional solvent-based coatings. Furthermore, these coatings exhibit superior resistance to chemicals, abrasion, and weathering, making them highly desirable across industries such as automotive, electronics, industrial, and packaging. The coating industry's next popular trend is green coatings. Green coatings are those that are environmentally friendly and aid in reducing pollution at any level. These coatings are often more expensive than other paints and coatings on the market, but they also have advantages over traditional hazardous paints and exhibit comparable or higher performance qualities. Green coatings are becoming more popular in the coating business as a result of increased environmental rules and standards, particularly in Europe and North America. UV-curable coatings are now more in demand as a result of this. Due to significant advancements in UV curing technology and industry-wide technical changes, UV-curable coatings are also being used outside of factories and in field applications. These programmes are all still in the development stage, but effective commercialization is anticipated in the upcoming years. With its modest presence in this market, UV technology is also anticipated to be recognised as one of the top technologies for the application of metal coatings in the future.

According to the research report, Global UV Curd Coating Market Outlook, 2023-2028, the global UV curd coating market is anticipated to cross USD 11.90 Billion, increasing from USD 7.39 Billion in 2022. The market is expected to grow at a CAGR of 8.44% by 2023-2028. UV-cured coatings are more productive in less time, produce less waste, don't pollute the environment, and don't lose coating thickness. The worldwide UV-cured coating market is expanding as a result of the widespread usage of UV-cured coatings in a variety of end-use sectors, including automotive, telecommunications, glass and plastic decorations, and graphic arts. Furthermore, technological advancements in UV curing systems, such as improved lamp efficiency, faster curing speeds, and enhanced formulation techniques, have made UV-curable coatings more efficient, cost-effective, and versatile. These developments have expanded the range of applications for UV-curable coatings across various industries. The fast increase in demand for UV-cured coatings is mostly driven by the automotive industry. These coatings are perfect for use in the automotive industry because of their remarkable physical durability. These coatings are often used on a range of automobile parts, such as forward lights, external plastic parts, and sheet moulding compound (SMC) body panels. Additionally, the manufacturing of electric cars has increased significantly as a result of government initiatives and beneficial legislation for them, which is strengthening the global market for goods. UV-curable coatings offer exceptional performance characteristics, such as high durability, chemical resistance, scratch resistance, and superior adhesion to a wide range of substrates. These coatings provide enhanced protection and aesthetics, making them suitable for demanding applications in industries like automotive, electronics, furniture, and packaging. Furthermore, the automotive, electronics, aerospace, and packaging industries are witnessing significant growth worldwide. These industries require advanced coatings that provide excellent performance, aesthetic appeal, and increased durability. UV-curable coatings meet these requirements and are increasingly being adopted across these sectors.

Based on the composition types, the segment includes oligomers, monomers, photoinitiators, PU dispersions, and others. At a global level, monomers have the highest market share due to the fact that monomers offer a wide range of properties and functionalities that can be tailored to meet specific coating requirements. They can be selected and combined to achieve desired characteristics such as adhesion, hardness, flexibility, chemical resistance, and UV stability. There is a vast array of monomer types available, including acrylates, methacrylates, epoxy acrylates, polyester acrylates, and urethane acrylates, among others. Each monomer type offers distinct properties and benefits, allowing for versatility and application-specific formulation. Monomers can be formulated to provide excellent adhesion to a wide range of substrates, including metals, plastics, wood, glass, and more. This versatility makes UV-curable coatings applicable to diverse industries such as automotive, electronics, packaging, and furniture. Continuous advancements in monomer chemistry and formulation techniques contribute to the development of new monomers with improved performance properties. This on-going research and development fuels the market growth of monomers in the UV-curable coating industry. Based on the types, the segment includes wood coating, plastic coating, overprint varnish, display coating, and conformal coating. At the global level, wood coatings have the highest market share. UV-curable coatings cure almost instantly when exposed to ultraviolet light. This fast curing time increases productivity and efficiency in wood coating applications, as it eliminates the need for long drying or curing times associated with traditional coatings. UV-curable coatings are typically solvent-free or have low VOC (volatile organic compound) content, making them environmentally friendly. This characteristic aligns with the increasing demand for eco-friendly and sustainable coating solutions. The market for UV-cured wood coatings has been experiencing significant growth. This is driven by factors such as the growing demand for high-performance, environmentally friendly coatings and the expansion of industries such as furniture, flooring, and cabinetry. While solvent-based UV coatings have been widely used in the past, there is a noticeable trend towards water-based UV coatings. Water-based formulations are considered more environmentally friendly due to their lower VOC content and reduced health hazards. They also offer excellent performance and are being adopted as a sustainable alternative in the wood coating industry.

Government rules and regulations regarding UV-cured coatings in the global market, Many countries have established limits on the volatile organic compound (VOC) content of coatings, including UV-cured coatings. These regulations aim to reduce air pollution and protect human health. The specific VOC limits can vary, and compliance may be required through testing and certification processes. Governments may enforce environmental and health safety standards for UV-cured coatings. These standards ensure that the production, use, and disposal of UV-cured coatings adhere to specific requirements to minimise environmental impact and ensure worker safety. UV-cured coatings may be subject to labelling requirements to inform users about potential hazards and proper handling procedures. This includes providing information on safety precautions, recommended protective measures, and proper disposal methods. Some countries have required manufacturers or importers of UV-cured coatings to register their products or obtain certifications to demonstrate compliance with applicable regulations. This can involve providing information about product composition, performance, and safety data. Governments often have regulations in place to protect workers who handle UV-cured coatings. These regulations may cover aspects such as ventilation requirements, personal protective equipment (PPE), and training on the safe handling and use of UV-cured coatings. UV-cured coatings may need to undergo testing and quality control measures to ensure they meet specific performance and safety standards. This can involve testing for parameters such as adhesion, abrasion resistance, chemical resistance, and curing properties.

Based on the end-user segment, industries include industrial coatings, electronics, and graphic arts. Industrial applications often demand high-performance coatings to protect surfaces from harsh conditions, chemicals, abrasion, and weathering. UV-cured coatings provide excellent durability, chemical resistance, and scratch resistance, making them well-suited for industrial environments. UV-cured coatings cure rapidly when exposed to UV light, allowing for faster production speeds and increased productivity in industrial settings. This is particularly beneficial in high-volume manufacturing processes where quick turnaround times are essential. UV-cured coatings can be used on a wide range of industrial substrates, including metal, plastics, composites, and glass. Their versatility allows for diverse industrial applications, such as automotive parts, electronics, appliances, packaging, and aerospace components. Furthermore, UV-cured coatings can be formulated with various additives, pigments, and fillers to achieve specific performance characteristics and visual effects. This flexibility allows for customization and the ability to meet specific industrial requirements, including colour matching, special effects, or functional coatings.

Based on the report, there are five major regions covered, including North America, Europe, Asia Pacific, South America, the Middle East, and Africa. At a global level, the Asia Pacific region covers the highest market share in this market. Hardware and modern coatings end-use fragments are driving the interest for elite execution coatings, which thusly is pushing the interest for UV-treatable coatings inside the district. The Asia-Pacific region has experienced significant industrial growth and rapid urbanisation in recent years. This has led to increased demand for UV-cured coatings across various industries, such as automotive, electronics, packaging, furniture, and construction. The expanding manufacturing sector and infrastructure development in countries like China, India, and Southeast Asian nations have contributed to the growth of the UV-cured coating market in the region. The Asia-Pacific region is home to a substantial manufacturing base across diverse industries. This includes the production of automobiles, consumer electronics, appliances, textiles, and more. These industries often require high-performance coatings, and UV-cured coatings offer several advantages, such as fast curing times, durability, and environmental benefits. The large manufacturing base has created a substantial market for UV-cured coatings in the region. The Asia-Pacific region has experienced robust economic growth, attracting foreign investments and fostering business opportunities. This economic growth has created a conducive environment for the UV-cured coating market, with increased industrial activities and demand for high-quality coatings.

Recent News:

• In 2020, AkzoNobel, a global coatings company, acquired Mapaero, a French aerospace coatings manufacturer. This acquisition expanded AkzoNobel's product portfolio and strengthened its presence in the aerospace coatings segment, including UV curable coatings used in aircraft interiors and exteriors.
• Fujifilm Acquires Coating and Adhesive Business from Hitachi Chemical: In 2019, Fujifilm Corporation acquired the coating and adhesive business of Hitachi Chemical. This acquisition included UV curable coating technologies used in various applications such as automotive, electronics, and industrial coatings.
• In 2019, PPG Industries, a leading global coatings company, acquired Hemmelrath Lackfabrik, a German manufacturer of automotive coatings. This acquisition expanded PPG's product offerings, including UV curable coatings for the automotive sector.
• In 2016, Allnex, a leading supplier of specialty chemicals, acquired the Radcure business from Nuplex Industries. This acquisition strengthened Allnex's portfolio of UV curable resins and additives used in coatings, inks, adhesives, and other applications..

Considered in this report

• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Global UV Curd Coating market with its value and forecast along with its segments
• Region-wise UV Curd Coating market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions & Countries covered in the report:

• North America (United States, Canada, Mexico)
• Europe (Germany, United Kingdom, France, Spain, Italy, Russia)
• Asia-Pacific (China, Japan, India, Australia, South Korea)
• South America (Brazil, Argentina, Colombia)
• Middle-East & Africa (UAE, Saudi Arabia, South Africa)

By Composition

• Oligomers
• Monomers
• Photoinitiators
• PU Dispersions
• Others

By Type

• Wood Coatings
• Plastic Coatings
• Over Print Varnish
• Display Coatings
• Conformal Coatings

By End use industry

• Industrial Coatings
• Electronics
• Graphic Arts

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience:

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Smart Lighting industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.