UV Curable Resins Market Size

UV Curable Resins Market Size

UV Curable Resins Market size valued at USD 4 billion in 2022 and is anticipated to depict over 7% CAGR between 2023 and 2032, on account of the growing need for sustainable coatings in building and construction applications.

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According to the U.S. Census Bureau data, from November 2020 to November 2021, seasonally adjusted construction spending surged by 9.3% in the U.S. Such trends, alongside the increasing requirement for industrial coatings, will fuel the requirement for durable UV-curable resins for wood paints and other surface protection applications. Moreover, during free-radical UV curing, the presence of oxygen within or at the surfaces of formulations can adversely affect polymerization, thereby hampering UV curable resins market growth.

Global efforts toward the development of paints and coatings with low VOC footprints are increasing steadily, in order to mitigate carbon emissions. UV-curable resins have emerged as an attractive alternative to thermosetting resins, credited to their low requirement for solvent and high efficiency during the drying process, contributing to sustainability targets. With the burgeoning investment in building and construction, the demand for UV-curable coatings will rise and consequently boost the utilization of UV resin curing machines to contribute to a carbon-free society.