After being plagued for years with “imperfect” production techniques, manufacturers of UV coatings are rapidly adopting technological advancements to put in action an eco-friendly method of producing UV coatings. Future Market Insights notifies how several government and non-government organisations in the world have listed ways in which UV coatings can be produced without harming the environment. Manufacturing such eco-friendly UV-curable coatings has, thus, propelled the growth of global market for UV coatings.
At present, Future Market Insights values the global UV coatings market at US$ 3,429.5 Mn. According to its latest report, the global market for UV coatings is expected to surge steadily at 6.1% CAGR and bring in an estimated US$ 6,187.2 Mn revenues by the end of 2026. While favourable environmental regulations will keep inducing growth in global UV coatings production, the demand for such products will also witness a considerable hike on the account of booming global automotive industry. Considering the significance of refinish coatings in the production as well as aftermarket servicing of automobiles, consumption of UV-curable coatings will also remain significant by OEMs and aftermarket suppliers.