by UV coatings are organic solvent-free coatings that cure immediately upon exposure to ultraviolet light. They are used in the graphic arts industry for applications such as commercial printing and specialty packaging. UV coatings offer benefits such as fast curing, high gloss, scratch resistance and chemical resistance.
The global UV coatings market is estimated to be valued at US$ 5911.32 billion in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand for UV coatings from the growing graphic arts industry has been a key driver of the UV coatings market growth. The graphic arts industry has seen rapid expansion in applications such as commercial printing and specialty packaging. UV coatings are increasingly used in digital and flexographic printing due to their advantages of fast curing and high productivity. They enable quick turnarounds and reduce production cycle times. This has significantly contributed to the rising uptake of UV coatings in the graphic arts applications.
SWOT Analysis
Strength: UV coatings provide protection against damage from UV radiation, chemicals, abrasion and other environmental factors. This makes them suitable for a variety of applications.
Weakness: Strict regulations related to VOC emissions can hinder market growth. High production costs also pose a challenge.
Opportunity: Growing demand from the automotive, electronics and commercial printing industries is expected to create new opportunities. Innovation in terms of sustainability will further support market expansion.
Threats: Competition from alternatives like powder coatings can pose a threat. Volatility in raw material prices also increases uncertainties.
Key Takeaways
The Global UV Coatings Value Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The global UV coatings market is estimated to be valued at US$ 5911.32 billion in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024-2031.
The Asia Pacific region currently dominates the global market and is expected to maintain its lead position during the forecast period as well. Rapid industrialisation and growing middle-class population are driving the demand for consumer goods and automobiles in countries such as China, India, Japan and South Korea, which is supporting regional market growth.
Key players
Key players operating in the UV Coatings value market are Cisco Systems, Inc.,Huawei Technologies Co., Ltd.,Juniper Networks, Inc.,Arista Networks, Inc.,Hewlett Packard Enterprise (HPE) Company,Dell Technologies Inc.,Extreme Networks, Inc.,NETGEAR, Inc.,ZTE Corporation,D-Link Corporation,TP-Link Technologies Co., Ltd.,Allied Telesis Holdings K.K.,Fortinet, Inc.,Mellanox Technologies (now part of NVIDIA Corporation),H3C Technologies Co., Limited, Nokia Corporation,Arista Networks, Inc.,MikroTikls SIA,NEC Corporation,Ubiquiti Inc.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
