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Global UV Cured Coatings Market market By Composite - Monomers, Oligomers, Others By Product Type -Wood, Plastic, Overprints, Conformal Coatings, Others By Application - Industrial Coatings, Electronic Coatings, Graphic Arts By End-Use Industry - Automotive, Aerospace, Electrical & Electronics, Healthcare , Others Regional Outlook- North America, Europe, Asia Pacific, Latin America, Middle East & Africa Forecast - 2031

Type: PDF

Status: Syndicate

Categories: Chemicals And Materials

Report Code : MC2317791

No. of Pages : 350

A UV coating is a method in which surface treatment is cured by ultraviolet radiation, or which shields the underlying material from the hazardous effects of such radiation. UV coatings can be made up of 100 percent solids, which means they don’t comprise any volatile components that pollute the environment. As the high solids content, the coating can be placed in very thin sheets. UV coatings are available in a wide range of gloss levels. Furthermost traditional industrial coating uses, as well as silkscreen, can be used to apply UV coating.

UV curing, also identified as ultraviolet curing, is a photochemical technique that uses intense ultraviolet light to immediately cure or dry inks, adhesives, or coatings. Associated with conventional curing and drying techniques such as PVC coatings, UV coatings offer many benefits. UV curing coatings are generally used to enhance production efficiency and improve scratch and solvent resistance.

UV-cured coatings have higher efficiency in fewer time, with less waste, no environmental pollutants, and no loss of coating thickness. Substantial adoption of UV-cured coatings from several end-use industries such as automotive, telecommunications, glass and plastic decorations, and graphic arts is driving the development of the worldwide UV-cured coating marketplace.

The stringent environmental rules and rising awareness to decrease volatile organic compounds (VOC) emissions by accepting eco-friendly technologies such as UV-cured coatings have led to a high demand for UV-cured coating.

UV coatings are typically acts in over-print varnishes for scratch resistance, stain resistance, scuff resistance, and gloss enhancement on printed sheets and wood finishing. The substantial increase in public and private spending for infrastructure development, particularly for commercial and residential sectors of evolving economies, such as China, Japan, South Korea, India, and others bolster the demand in the global UV-cured coating marketplace.

The global market is expected to grow at a CAGR of XX% from 2021 to 2031 to reach USD XX billion by 2031.

Market Dynamics

Thriving Automotive Industry to boost UV-cured Coatings Market. The automobile sector is the main driver of the sharp increase in demand for UV-cured coatings. Due to their an exceptional physical endurance, these coatings are mainly use in the automobile Industry. These coatings are widely employed on a variety of automotive components, including body panels made of sheet moulding compound (SMC), exterior plastic components, and forward lights. Also, the substantial rise in the manufacturing of electric vehicles, owing to government favourable regulations and initiatives for electric vehicles is also bolstering the product market across the globe.

This UV-cured coatings are used in a numerous components used in manufacturing of electric vehicles, including engine components, exterior coatings, window coatings, and so on. The UV-cured coating is more usually used in electric vehicles likened to non-electric vehicles; owing to the need for UV, light refraction in an electric vehicle holds more important position and significance compared to non-electric vehicles. So, it is expected that the expansion, research and development of the automotive coatings industry will fuel demand for UV-cured coatings across the world.

The high cost of UV-cured coatings hampers the development of the marketplace. The UV-cured coatings market is expected to experience slow expansion over the course of the forecast period due to a number of significant reasons, including high equipment start-up costs, high UV-cured coating costs, and low product awareness. The developing economies of Asia Pacific and the Middle East and Africa have grown less adoption of these coatings, owing to their high cost, lack of awareness, and non-compliances with emission standards.

Government guidelines and concerns about pollution will provide an opportunity for UV-Cured Coatings Manufacturers. The increasing awareness about environmental pollution along with stringent government rules to control environmental pollution is predicted to provide lucrative opportunities for the growth of the global UV-cured coatings market during the forecast period. UV-cured coatings are free of pollutants like volatile organic compounds (VOC), making them an environmentally friendly product. Numerous government regulations against pollution (air and water) have prompted manufacturers to develop such environmentally friendly products.

According to the Environmental Protection Agency of India's Congressional Review Act (CRA), there is an act called CRA act 40 part 52 that states the list of volatile organic compounds that should be limited in use as well as the consequences of pollution caused by these pollutants. Then, during the course of the projection period, the aforementioned reasons are likely to upsurge demand for UV-cured coatings.

Composite Insights

The monomers segment held the major share in the UV-cured coatings marketplace in the year 2020. Monomers are low viscid materials, mostly containing of common esters of acrylic acid and simple multifunctional or mono-functional polyols. Monomers are non-flammable materials and have low volatility and odor. Monomers classically have more than one functional group which differentiates the properties of the group. Monomers help in providing certain advantages such as high-refraction and tough structure to the plastic which is one of the key leading factors of the monomers segment in the UV-cured coatings marketplace.

Product Insights

Based on Product, the market is split into Wood, Plastics, Overprints, Conformal Coatings, and Others. the wood coating held a foremost share to extend the marketplace because demand for wood coating is high in residential areas. Furthermore, the strong-growing usage of these coatings in the wood and furniture industries is serving to boom in the worldwide UV-cured coatings marketplace.

Application Insights

Based on Application, the market is separated into Industrial Coatings, Electronic Coatings, and Graphic Arts. Industrial segment has stacked further share as compared with other applications to fueling the development of the global UV-cured coatings market.

Additionally, electronic coatings segment is expected to show subnational growth in the forecast period. On account of high demand of electronics are expected to boost the segment growth in the forecast period.