Albany, NY -- (SBWIRE) -- 02/13/2019 -- Global Ultraviolet (UV) Coatings Market
Ultraviolet or UV cured coating refers to the application of a shiny coating on surfaces such as plastics, wood, paper, and others with the help of UV radiation to ensure excellent coverage and light stability. UV coatings are better than conventional coating techniques as they offer good abrasion resistance, high shine finish, very less drying time, and high clarity. UV coatings are also environment friendly and free of solvents. As a result, they do not emit VOCs when cured. During the coating of a surface with UV radiation, a chemical reaction in the form of chain polymerization occurs. Radiation with UV energy leads to highly reactive photoinitiators that cross-link the acrylates to form a plastic film within milliseconds.
In terms of formulation, UV coatings are broadly classified into water-based and solvent-based segments. UV coatings are used on various surfaces such as metals, glass, plastic, wood, paper, and others. UV coatings on wood surface are high in demand owing to the low volatile organic compound (VOC) emissions, superior quality, and increasing applications of these coatings in the wood and furniture industry. The U.S., Germany, and China are the key countries driving the demand for UV wood coatings. Less curing time and the green nature of UV coatings have propelled their usage across a number of end-use sectors such as architecture, industrial, aviation, textile, automotive, marine, electronics, and others. The industrial sector is contributing significantly toward the growth of the global UV coatings market, followed by the electronics sector. The growing demand for plastic coatings for electronic parts and flooring has further pushed the growth of the market.
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Global Ultraviolet (UV) Coatings Market: Overview
The rapid growth of the electronics industry and growing environmental awareness have boosted the growth of the global UV coatings market. The rise in the demand for coatings across industrial applications has impacted the market positively. The superior characteristics of UV coatings such as improved resistance and higher gloss finish, along with minimum to zero percentage emission of VOCs have further fuelled the demand for UV coatings. The growing trend of graphics art on wooden, plastic, and glass surfaces is expected to aid the market's growth. The low operational cost of UV coatings also contributes significantly to the demand from the market.
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However, low price competitiveness and niche applications might hamper the growth of the market during the forecast period. The global UV coatings market has a huge potential for growth with the introduction of greener UV coatings applications. Market players are investing in extensive research activities to develop environment-friendly UV coatings such as bio-based UV coatings. The introduction of such coatings is expected to broaden the application scope of the global UV coatings market.