UV-Curable Coatings Market To Reach USD 20.94 Billion By 2032, Driven By Demand From Automotive, Electronics, And Packaging Sectors | SNS Insider

(MENAFN- GlobeNewsWire - Nasdaq) The UV-curable coatings market is witnessing significant expansion, driven by the increasing demand for environmentally friendly coatings across various industries, including automotive, electronics, packaging, and wood coatings.

Austin, Feb. 25, 2025 (GLOBE NEWSWIRE) -- The UV-curable coatings market is projected to reach a valuation of USD 20.94 billion by 2032, growing at a compound annual growth rate (CAGR) of 10.97% from 2024 to 2032.

The increasing awareness of sustainability and the demand for low-VOC (volatile organic compounds) coatings. Due to their fast-curing speeds, excellent durability, and low emissions, UV-curable coatings are desirable for industries that demand high processing throughputs and stringent environmental regulations. The UV-curable coatings technology is also being rapidly adopted due to the regulations from the government against the usage of solvent-based coatings and for the development of eco-friendly technologies. Various industries are progressively moving towards coatings that are UV-curable to maximize productivity and improve surface protection, triggering large investments in research and development.

Furthermore, the market is being driven by continuous advancements in UV LED technology in that UV LED curing systems are providing higher energy efficiency and consistent performance compared to other traditional mercury vapor lamps. A surge in demand for high-performance coatings due to their growing application in automotive, consumer electronics, as well as industrial applications, alongside a transition towards eco-sustainable solutions, are anticipated to drive the market growth.

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Key Players:

• Royal DSM N.V. (Netherlands)
• PPG Industries Inc. (USA)
• Akzo Nobel N.V. (Netherlands)
• BASF SE (Germany)
• The Sherwin-Williams Company (USA)
• Axalta Coating Systems Ltd. (USA)
• Dymax Corporation (USA)
• Eternal Chemical Co. Ltd. (Taiwan)
• DIC Corporation (Japan)
• Croda International Plc (UK)
• Nippon Paint Holdings Co., Ltd. (Japan)
• ACTEGA Schmid Rhyner AG (Switzerland)
• Ashland Global Holdings Inc. (USA)
• PhiChem Corporation (China)
• Dow (USA)
• Arkema S.A. (France)
• Sika AG (Switzerland)
• Allnex (Germany)
• Teknos Group (Finland)
• Cardinal Industrial Finishes (USA)

UV-Curable Coatings Market Report Scope:

Report Attributes	Details
Market Size in 2023	USD 8.21 Billion
Market Size by 2032	USD 20.94 Billion
CAGR	CAGR of 10.97% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Report Scope & Coverage	Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments	. By Type (Wood Coatings, Plastic Coatings, Over Print Varnish, Display Coatings, Conformal Coatings, Paper Coatings) . By Composition (Oligomers, Monomers, Photoinitiators, PU Dispersions, Others) . By End-Use Industry (Industrial Coatings, Electronics, Graphic Arts)
Key Drivers	. Growth in packaging and printing applications which drives the market growth.

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Which Region Leads the UV-Curable Coatings Market Growth?

Asia-Pacific dominated the UV-curable coatings market in 2023, accounting for approximately 38% of the total market share. The region's strong industrial growth, rising demand for eco-friendly coatings, and expanding automotive and electronics manufacturing sectors contribute to its leading position. Countries such as China, Japan, and South Korea are investing heavily in advanced coating technologies to comply with stringent environmental regulations and enhance production efficiency. Furthermore, rapid urbanization and increasing infrastructure development in the Asia-Pacific region are driving demand for UV-curable coatings in architectural applications. The presence of major market players, coupled with ongoing technological advancements, is expected to reinforce the region's dominance throughout the forecast period. Growing applications in packaging, particularly for food and beverage industries where low-VOC coatings are essential, further bolster the market's expansion in the region.

Segmentation Analysis

By Type

The wood coatings segment led the market in 2023, accounting for approximately 28% of the total share. UV-curable coatings are widely used in furniture, flooring, and cabinetry due to their fast-curing times, superior finish, and high resistance to scratches and chemicals. As demand for durable and environmentally friendly wood coatings rises, manufacturers such as AkzoNobel and PPG Industries continue to innovate with advanced UV-curable solutions.

By Composition

The Monomers segment held the largest market share around 34% in 2023. The monomers in UV-cured coatings are converted into polymerized (cured) material when the APIs are subjected to ultraviolet (UV) radiation, transforming the liquid film into a solid, durable film. From then on, these monomers provide the required properties such as flexibility, hardness, and chemical resistance needed by all the end-users, be it automotive, industrial or packaging. This trend toward sustainable coatings can be attributed in part to the growing acceptance of UV-curable systems and the ability to tailor formulations based on monomers that enhance performance while lowering the environmental impact when compared to traditional solvent-based coatings.

By End-Use Industry

The industrial coatings segment held the largest market share around 48% in 2023.It is because urbanization is a key factor for every kind of building and construction work, hence large-scale application development in manufacturing and heavy-duty use due to the fact that UV-curable coatings need to have durability and high-performance properties. UV cure coatings can provide faster cure speed, better ballistics and chemical resistance, and greener solutions for industrial coatings including automotive, machinery coatings, metal and construction applications.

Recent Developments

• In 2023, BASF SE expanded its UV-curable coatings portfolio with the launch of new high-performance formulations designed for the automotive and electronics industries. The expansion aims to address the increasing demand for sustainable and durable coating solutions.
• In 2023, Sherwin-Williams introduced a new range of UV-curable wood coatings featuring enhanced durability and faster curing times. The product launch aligns with the company's strategy to provide innovative and eco-friendly solutions to the furniture and flooring industries.
• In 2023, Covestro AG announced an investment in UV LED curing technology research, focusing on energy-efficient and high-performance coatings for industrial and consumer applications. The initiative underscores the growing importance of UV LED curing in advancing sustainable coating solutions.

Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

6. Competitive Landscape

7. UV-Curable Coatings Market Segmentation, by Type

8. UV-Curable Coatings Market Segmentation, by Composition

9. UV-Curable Coatings Market Segmentation, by End-Use Industry

10. Regional Analysis

11. Company Profiles

12. Use Cases and Best Practices

13. Conclusion

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