An ultraviolet coating is a surface treatment that involves the curing process to harden the surface by the use of ultraviolet radiation. Coating ultraviolet rays develop a shiny coating over the surface of the materials such as plastics, wood, and paper. This technique offers good quality of scratch resistance, low drying span, glossy finish, and perfect clarity. Hence, this type of coating is totally environment-friendly. Thus, it does not emit volatile organic compounds (VOCs) when cured.
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The global ultraviolet coatings market is segmented on the basis of application as graphic arts, electronics, industrial coatings, composites, others. Based on the type of composition, the global market is segmented as monomers, oligomers, photoinitiaters, and others. The monomers segment is sub-segmented as multifunctional acrylic esters and others. The oligomers segment is sub-segmented as epoxy, urethane, and polyester acrylates. On the basis of types of coating, the global ultraviolet coatings market is segmented as wood, plastic, paper, displays, conformal, and others. The wood segment is the dominant segment of UV coatings market.
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Rising awareness of using eco-friendly products and demand for green products and wood coatings are the factors driving the global ultraviolet coatings market. Increasing use in various applications and potential markets are the major drivers for the ultraviolet coatings market. Adaptation of ultraviolet coatings for marketing and advertising materials and increased demand for the same has augmented the market growth. Low operational cost, zero percent volatile organic compounds, higher gloss finish, improved resistance, low price, competitiveness, development and innovation such as bio-based ultraviolet coatings are anticipated to impact the global UV coatings market in a positive way. High investment necessities, high power consumptions, and health hazards are some of the minor restraints of the market growth.
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Asia Pacific is anticipated to maintain its influence on the global the ultraviolet coatings market. The major countries such as China and India are showing considerable growth owing to increasing capital, rising demand, and growing industrialization. China is anticipated to be the dominating country in terms of revenue of the market. North America and Europe are expected to follow Asia Pacific. Rest of the World is likely to witness a favorable growth in the global ultraviolet coatings market.
Some of the major players dominating the global ultraviolet coatings market are The Dow Chemical Company, PPG Industries Inc., AkzoNobel N.V., 3M, The Valspar Corporation, Asian Paints Ltd., The Sherwin-Williams Company. Other key players influencing the global market are DIC Corporation, Royal DSM N.V., Axalta Coating Systems LLC, Dymax and Corporation, and Eternal Chemical Co. Ltd.
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Ultraviolet Coatings Market: Regional Segment Analysis
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