The ultraviolet curing, is also known as UV curing, a photochemical process of instantly curing or drying the inks, coatings or adhesives by using high intensity ultraviolet light. The UV coatings have many advantages over the traditional curing and drying methods such as PVC coatings. UV curing coatings are used to increase production speed and improve scratch and solvent resistance. The UV cured coatings has adopted by many industries such as automotive, telecommunications, glass and plastic decorations and graphic arts. The demand of the UV cured coating is increasing rapidly due to its higher productivity in less time, with a reduction in the waste, no environmental pollutants and no loss of coating thickness which leads to the growth of the global UV cured coating market.
UV Cured Coatings Market – Drivers and Restraints
The global UV cured coating market is expected to register the significant CAGR over the forecast period as the demand of UV cured coating is increasing over the conventional PVC coatings, waterborne coatings, powder coatings, and high-solids coatings. The stringent environmental regulations lead to the less usage of conventional coating processes is one of the prime factor drives the global UV cured coating market. The growing awareness to reduce the volatile organic compounds (VOC) emissions by accepting eco-friendly technologies such as UV cured coatings also drive the global UV cured coating market. The increase in infrastructure development and spending, particularly for commercial and residential sectors is also boosting the demand of the UV cured coatings and drives the global UV cured coating market.
However, the oxygen inhibition while UV curing may cause the top layer to become uncured, sticky and wet and affects the long term reliability, which may hamper the growth of the global UV cured coating market.
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UV Cured Coatings Market – Segmentation
Theglobal UV cured coatings market has been segmented on the basis of composition, end use, chemical type, application and region.
On the basis of composition, the global UV cured coating market is segmented into:
- Oligomers (UV Curable Resins)
- Monomers (Reactive Diluents)
- Pigments and Additives
- Photo initiators
On the basis of end use, the global UV cured coating market is segmented into:
- industrial coatings
- electronic coatings
- Graphic Arts
On the basis of chemical type, the global UV cured coating market is segmented into:
- Epoxy Acrylates
- Polyester Acrylates
- Urethane Acrylates
On the basis of application, the global UV cured coating market is segmented into:
- Industrial Coatings
- Plastic Coatings
- Metal Coatings
- Wood & Paper Coatings
- Printing Inks
UV Cured Coatings Market – Region Wise Outlook
The global UV Cured Coatings market is segmented into the seven regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). The APEJ is dominating the market and contributed the leading share to the global UV cured coatings market in terms of revenue and volume due to the increasing demand from the electronic and industrial hub from countries such as China and India. The North America region is also contributed the significant market share to the global UV cured coatings market followed by APEJ. The Western Europe and Eastern Europe are expected to register the descent market growth to the global UV cured coatings market over the forecast period. MEA and Latin America are at a nascent stage of UV cured coatings market and expected to register the lucrative market share over the forecast period 2016 to 2026.
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UV Cured Coatings Market – Key Players
The key players of the global UV cured coatings market are as follows:
- Royal DSM N.V.
- Allnex Belgium SA/NV
- Alberdingk Boley GmbH
- BASF SE
- Covestro AG
- Nippon Gohsei
- Wanhua Chemical Group Co., Ltd.
- Miwon Specialty Chemical Co. Ltd
- Hitachi Chemical Company Ltd.
- Eternal Chemical Co. Ltd.
- Toagosei Co. Ltd.
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