PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1303494
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1303494
UV-curable coatings are composed of oligomers, liquid monomers, and photoinitiators, offering protection, enhancement, and durability to printed materials. Recent advancements in UV curing technology have expanded its field applications, including concrete floor coating, wood floor coating, vinyl floor coating, countertop coating, and tub coating. Furthermore, UV technologies are gaining prominence in metal coatings used in industries such as automotive, furniture, and marble & granite. The expanding electronics sector is also expected to drive the demand for UV coatings, contributing to the growth of the UV-curable coatings market.
In response to the adverse effects of climate change, industries are adopting eco-friendly methods and complying with environmental regulations. The coatings industry is witnessing a rise in green coatings, offering higher performance and advantages over traditional hazardous paints. UV-curable wooden coatings, in particular, are gaining popularity due to their visual appeal and surface protection properties. Both residential and non-residential applications extensively use wood treatments, leading to significant growth opportunities in the global UV-curable coatings market.
Monomers, non-flammable and low-volatile substances, are essential components in UV formulations as diluents. They contain UV-curable groups and offer various properties based on the number of curable groups present. Acrylic groups are commonly used in monomers. Manufacturers are increasingly favoring monomers due to their benefits, including high refraction and a robust structure. These trends contribute to the positive growth outlook for the UV-curable coatings market.
Asia Pacific is expected to hold a significant share in the UV-curable coatings market, driven by rapid industrialization and the growing manufacturing sector in the region. India's market for UV-cured coatings is projected to witness substantial growth. Strict government policies promoting eco-friendly products will encourage innovation and improvements in the sector. China, being the largest producer of automobiles, along with its growing aviation sector, will further drive the demand for UV-cured coatings in the region.
Prominent global players in the UV-curable coatings market include: Dymax Corporation, Royal DSM N.V., PPG Industries Inc., BASF SE, Eternal Chemical Co. Ltd., Akzo Nobel N.V., DIC Corporation, The Sherwin-Williams Company, Axalta Coatings System, and Croda International Plc. These companies contribute to the market through their innovative solutions and strong presence in the industry.