According to the market research the report “Ultraviolet (UV) Coatings Market: By Composition (Monomer Resin, Photo-initiator, Others) By Formulation (Water-Based, Solvent-Based) Application (Wood, Paper, Glass, Others) End-user Industry (Industrial, Architecture, Marine, Others) – Forecast (2017 – 2022)”, published by IndustryARC, estimates that Asia-Pacific will drive healthy growth during the forecast period.
Ultraviolet coating or UV coating, is a very glossy, shiny liquid coating applied to a printed paper surface and cured on a printing press or special machine using ultraviolet light. UV cured clear coating is a specific technique of using energy radiation in place of traditional coating methods. UV coating is mainly used on temperature sensitive substrates like wood, plastics, paper and others. These fluids are widely used because they deliver quality, productivity and reduced levels of atmospheric emissions. The superior performance of protective coatings as compared to other coatings, is the primary factor that supports the growth for the Ultraviolet Coatings Market.
Scope & Regional Forecast of the Ultraviolet Coatings Market
Increase in demand for UV varnish for industrial applications, is the key growth factor for the Ultraviolet Coatings Market. The rapid growth of the electronics industry and growing environmental awareness have boosted the growth of the global UV coatings market. The growing trend of graphics art on wooden, plastic, and glass surfaces is expected to drive high growth for the market of UV printing. Low operational cost is expected to have direct impact on overall market growth.
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Asia Pacific is registered with major share and is expected to drive the demand, during the forecast period with countries such as China, Japan, and South Korea emerging as the biggest consumers of UV coatings. Europe is in the next position followed by Americas. Europe is expected to have increasing domestic and industrial applications demand, such as wood, paper and plastic coatings. North America is expected to witness significant growth with in few years due to over print varnish coating application demand.
Segmentations & Key Players Involved in the Ultraviolet Coatings Market
The Ultraviolet Coatings Market can be broken down into various segmentations on the basis of –
Composition: Monomer resin, Oligomeric Resin, Photo-initiators and Others.
Formulation: Water-Based and Solvent-Based.
Application: Wood, Paper, Glass, Plastic, Metals and Others.
End-User Industry: Industrial, Architecture, Aviation, Automotive, Textile, Electronics, Marine and Others.
Region: Americas, Europe, Asia-Pacific and Rest of the World (RoW).
Some of the key players involved in the Ultraviolet Coatings Market are as follows:
The Dow Chemical Company
Asian Paints Limited
The Sherwin-Williams Company
Axalta Coating Systems LLC
Royal DSM N.V.
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