The value of the global UV Coatings Market was estimated at US$ 4,776.9 million in 2022. From 2023 to 2030, it is anticipated to grow at a CAGR of 7.42% in terms of revenue, reaching US$ 8,471.0 million.
Today's meat producers must comply with a greater number of regulations governing air emissions, waste management, and health and safety. Two primary advantages of UV coatings technology have helped to earn the technique the "green" moniker. First off, the majority of UV coating formulations don't have a lot of volatile organic compounds (VOCs) or hazardous air pollutants (HAPs). Second, compared to conventional solvent-based or even water-based coatings, a UV coating uses a lot less energy to dry. Reducing energy consumption has the same effect as reducing greenhouse gas emissions since a significant amount of the energy produced globally comes from fossil fuels. With new attempts to reduce greenhouse gas emissions on the horizon, businesses can rely on UV coatings as a critical tool to assist them reduce their environmental footprint by decreasing both air pollution and their overall greenhouse gas emissions. The market will profit from this over the course of the predicted period.
Leading Companies in the Uv Coatings Industry:
1. BASF SE: The largest chemical firm in the world, BASF was established in 1865 and is headquartered in Germany. Its products range from commonplace to specialise. The business also manufactures agricultural crop protection chemicals and automobile emissions control catalysts. Given its scale, BASF holds a position in the top three of the market in almost 70% of its companies. The sale of BASF's production facility in Kankakee, Illinois, to a division of One Rock Capital Partners, LLC, was finalised on May 31, 2021.
2. Arkema Group,: A French chemical company called Arkema was historically well-known for dominating the global acrylics market. The business has now built a solid portfolio of specialist materials, nevertheless. There are four sections to Arkema. The more specialised material firms are found in adhesive solutions, innovative materials, and coatings solutions. The remaining commodity chemical industries are located in the intermediates category. Geographically, Europe, the United States, and Asia account for roughly equal shares of sales. Established in 2004. Ashland performance adhesives are acquired by Arkema.
3. PPG Industries Inc.: Coatings are produced globally by PPG. Following the acquisition of specific Akzo Nobel assets, the business has become the largest coatings producer in the world. Products from PPG are sold to a broad range of end users, including those in the automotive, aerospace, building, and industrial sectors. The Comex acquisition serves as an illustration of PPG's concentration on its coatings and specialised goods as well as its growth into developing nations. Built in 1882. United States headquarters. The Powder Coatings Manufacturing Business of Arsonsisi has been fully acquired by PPG.
4. Axalta Coating System LLC.: High-performance coatings systems are produced, marketed, and distributed by Axalta Coating Systems Ltd. The Performance Coatings business offers liquid and powder coatings solutions to a dispersed and local customer base. It operates in two segments. Refinish and industrial are some of its ultimate markets. Built in 1866. United States headquarters. The purchase of U-POL Holdings Limited ("U-POL") by Axalta Coating Systems (NYSE: AXTA), a major producer of liquid and powder coatings, was successfully completed, the company stated today.
5. The Valspar Corporation: Paint and coatings producer and distributor. The business supplies paints and stains to both amateur and professional painters under well-known international brands. It also offers metal coatings, wood coatings, glass coatings, resins, and polymers that are used in a number of applications, including automotive, general metals, consumer packaging, and wood. Built in 1866. United States headquarters.
6. The Sherwin-Williams Company: The leading supplier of architectural paint in the US is Sherwin-Williams. Additionally, Sherwin-Williams offers coatings for original equipment manufacturers and distributes paint-related products in big-box retailers. Built in 1865. United States headquarters. The Oskar Nolte and Klumpp Coatings are acquired by the Sherwin-Williams Company. The Specialised Industrial Coatings Holding (SIC Holding), a joint venture between Peter Möhrle Holding and GP Capital UG that includes Oskar Nolte and Klumpp Coatings, will be acquired by The Sherwin-Williams Company.
7. Croda International Plc.: A British company called Croda sells speciality chemicals, with 60% of its sales coming from outside of Europe. Consumer care, life sciences, and industrial specialties make up the company's three divisions. For cosmetics, skincare/haircare products, as well as flavours and perfumes, consumer care manufactures specialised and active ingredients. Founded 1925. head office in the U.K. The largest purchase in our history and a significant entry into a field that is very linked with our business was made by Croda when it acquired the international perfumes and flavours company Iberchem in 2020.
*Definition: UV coating is a surface treatment used to shield it from dangerous radiation. The printed paper surface is essentially where the UV coating is applied.
