The global UV Cured Coatings market is projected to reach USD 11.38 billion till 2026 from USD 6.48 billion in 2020 registering a CAGR of 12.2% during the forecast duration.
The ultraviolet curing or UV curing is a process of radiation curing where different product formulations are cured instantly and are environment friendly in nature. The UV cured coatings are present for the OEM manufacturing procedures and also available for industrial use to boost the speed of production and develop the solvent and scratch resistance. The advantages of UV cured coatings include better resistance and better gloss finish. The UV cured coatings are widely used by various industries including telecommunications transmission sector, glass, automotive industry, graphic arts, and plastic decorations.
The global UV-cured coating market is witnessing growth at a high rate owing to factors such as rising demand of wood finishing, growth in the expenses and development of infrastructure leads to rising demand for UV cured coating, growing popularity in paint industry due to higher productivity, waste reduction, and no environmental pollutants emitted from the coating; however huge prime costs for the equipment’s, restricted usage in completing the complex 3D objects, niche applications, and low price competitiveness may restrict the market growth.
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The global UV-cured coatings market is classified into the following segments and sub-segments.
Based on Composition, the market is segmented into
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