UV Curable Coatings Market Size to Cross $6185 Million by 2030

UV Curable Coatings Market Overview

“The Global UV Curable Coatings Market is expected to grow rapidly at a 5.4% CAGR consequently, it will grow from its existing size of from $4070 Million in 2023 to $6185 Million by 2030.”

UV Coating, what is it?

The word UV means ultra violet. They are the coatings that upon exposure to a certain wavelength of UV Light cure. The usual wavelength of operation of UV curing coatings lies between 200 and 400 nanometers. The coatings are solvent-free and therefore are virtually non volatiles - they have 100% solid base, i.e., on curing the coating, the entire liquid is transformed into a solid film. there is no evaporation or losses like traditional solvent-based or water-based coatings and inks.

The UV coatings remain an liquid for a prolonged duration if it is exposed to UV light. the process of slow curing or gelling process occurs through indirect or direct sunlight. The drying process of coatings by UV is a chemical process referred to as polymerization. Polymerization can be described as the creation of macromolecules (big molecules) through the chemical reaction with smaller molecules, or monomers. The process involves the formation of chemical bonds between species.

Advantages Of UV Curable Coatings

There is some debate about on whether the UV curable coatings were designed for environmental reasons or for the purpose of being energy efficient and environmentally friendly. benefits were an added benefit However, it is certain that the industry has gained from this revolutionary technology. It's an environmentally-safe process as there are virtually or nearly no volatile components in a UV curable coating. UV coatings can offer high gloss and smoothness, and can replace traditional film laminations. They are safe for the environment as they are biodegradable.

Unlike film lamination isn't biodegradable, and is being removed from many developed countries as a risk to the environment. Additionally, UV-cured coatings do not wrinkle like film lancination. High production rates can be achieved using UV curing coatings. UV curable coatings provide fast drying or curing lines with speeds of up to 100m/min are possible and the coating takes only a few seconds to dry. With UV technology, you can plan for quicker job turnaround and just-in-time (JIT) managing inventory. The low-heat generating process that is suitable for the most sensitive substrates. Special equipment design allows for minimizing heat generation.

Why UV Coating over Lamination?

Biodegradable, these coatings are safe for the environment.

* UV cure coatings don't wrinkle-up like film lamination does.

* Extremely high production rates Line speeds of up to 100 meters per minute can be reached.

* UV coatings dry nearly instantly and you're ready for the next procedure. (Lamination requires a drying period of 24 hours before beginning the next surgery.)

* By using UV technology, you can anticipate a speedier job turn-around.

* A special equipment design helps to reduce heat production in the course of the process.

* As a low-heat generating process, it is suitable for use on substrates with heat sensitivities.

Jainco makes UV varnishes to create special effects finishes.Some examples of effects achieved achieved by screen printing include : the effect of sand on UV caotings UV coatings with structure effects, Uvcoatings with leather effects, and Glitter Effect UV coatings. Certain effects can also be created using a roller coater or the offset technique. Jainco also makes Silver scratch Ink for scratch cards. These are high-opacity Inks which can be applied via a screen.

What types of stain is compatible for UV coatings?

Any of the stains described here can be effectively sealed and top-coated with 100% UV-curable, solvent-reduced UV-curable, waterborne-UV-curable, or UV-curable powder systems. So, there's many possible combinations that make nearly every stain on the market compatible with any UV-curable coating. However, there are some considerations to ensure compatibility for a top quality finishing on wood surfaces.

Waterborne Stains and Waterborne-UV-Curable Stains: When applying either 100% UV-curable, solvent-reduced UV-curable or UV-curable powder sealers/topcoats over waterborne stains, it is essential that the stain be fully dry to prevent defects in coating uniformity, including orange peel, fisheyes, cratering, pooling and puddling. These defects are caused by the lower pressure of coatings compared to the high water surface tension remaining from the stain being applied.

The application of a waterborne-UV-curable coating, however, generally is more forgiving. The applied stain may exhibit dampness without adverse effects when using certain waterborne-UV-curable sealers/topcoats. The residual moisture or water that is left generated by the stain application can easily pass through the topcoat or waterborne UV sealer as it dries. It is highly recommended but it is advisable to test any stain, sealer, or topcoat on a test sample prior to committing to the surface to be completed.

Solvent-Borne and Oil-Based Stains: Although there may exist a method that could be applied to dry but not completely solvent-based or oil-based stains It is usually required, and strongly advised, to dry the stains prior to applying any sealer or topcoat. Stains that dry slowly such as these may need between 24 and 24 time (or longer) for complete drying. Also, testing the system on a sample wood surface is suggested.

UV-curable 100% stains: In general, 100% UV-curable coatings have excellent resistance to water and chemical once they are fully cured. This makes it difficult for later-applied coatings to stick if the UV-cured substrate is well abraded in order to facilitate mechanical bonding. While 100% UV-curable stains which have been developed to be receptive to later coated coatings are provided however, the majority of UV-curable staining materials must be abraded or partially curing (termed "B" stage or bump curing) to facilitate intercoat adhesion.

"B" staging results in residual reactive sites within the stain layer, which interact with the UV-curable coating once it has been being exposed to fully cure-conditions. "B" staging also allows the use of mild abrading to reduce or denib any grain raise that could result from the application of stain. A smooth seal or topcoat application will result in excellent adhesion of the intercoat.

Demand Outlook

The market for UV coatings has grown in the countries like those in the USA, China, and Germany making up a significant part of the market. The prospects for sales were slowed in 2020 because of the pandemic, which slowed the need for UV coatings across diverse industries like furniture, automotive, wood as well as electronics.

However, growing sales of UV-based LEDs as well as optical storage devices for a variety of applications in the end are expected to propel the market in the coming years. To meet the increasing demand, manufacturers are providing different base materials that can meet the customer's needs.

In addition, the current growth of the electronics market is expected to increase the expansion in the overall market.

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Market Dynamics

The demand for refinished coatings is anticipated to be much higher than OEM coatings due to the fact that they lessen the risk for wear and tear due to trauma and harsh weather conditions. The speedy curing time and the durability that UV-based refinished coatings offer makes it an ideal option for a primary material.

Raising Environmental Awareness:

Businesses must adhere to stringent regulations and rules related to pollution of the air as well as waste disposal and safety and health, which drives the growth of the market for UV coatings. The UV coatings technology offers two main advantages which are the reason for its classification in the category of "green." First, the majority of UV coating formulations are not made of large quantities of volatile organic substances (VOCs) or hazardous air pollutant (HAPs). The second reason is that the energy needed to dry a UV coating is substantially lower than that needed to dry conventional solvents or even a water-based one.

Since fossil fuels make up the majority of world energy production, reducing energy consumption can result in a reduction of the emissions of greenhouse gases. Businesses could rely in UV coatings for an important instrument to reduce their carbon footprint by reducing the pollution of air and emission of greenhouse gases, specifically because new strategies to cut down on greenhouse gas emissions are ahead. In the forecast timeframe this will have a favorable influence on UV Coatings Market.

Smart Coatings:

In this area, a large number of research projects are aimed towards developing better and more innovative functions. Nanotechnology is essential in this in this regard. In general, filled nanocapsules are included in self-healing coats. They release polymerizable chemical in the fillers, which self-repair in the event that the coating is damaged or ruined. The pandemic was a time when there was a growing need to develop biocidal coated coatings. They are being developed for their ability to resist the wide range of microorganisms. These variables all have the potential to boost market growth.

The high cost of UV Coating

If you compare them with other coating processes ultraviolet coatings can be costly. Therefore, conventional coating processes are employed instead that are less costly. UV coating is, however is more effective and consumes less energy. Because the substrate is not exposed to high temperatures, it enables a high degree of crosslinking on temperature-sensitive items. The process can be completed in a matter of minutes and the equipment occupies less space. UV coatings are among the expensive green coatings currently on the market, with prices of greater than US $18000 per tonnes. This could limit growth in the market for UV coatings.

COVID-19 Impact

Due to the COVID-19 epidemic, the demand for UV coatings fell during the initial quarter of 2020 because of disruptions in supply chain. However, slowly but surely it was apparent that the need for UV coats started rising. Because people were stuck in their homes, they were able to concentrate on projects that could be done by hand and in the end increased demand for flooring furniture, furniture, and various decorative panels aided in the recovery of the market.

According to research conducted by Harvard University researchers, in the US the amount spent on home improvement and repairs grew by more than 3 percent, reaching around $420 billion, because households redesigned their the living areas for school, work and leisure as a result of the COVID-19 epidemic. The study revealed that nearly 60% of homeowners had begun DIY or home renovation projects. In addition during the lockdown numerous people bought new homes, which requires home improvement projects. This helped to boost the market for UV coatings.

Market Segment Analysis

Increasing Applications in the Paper & Printing Industry Will Spur Demand for Matte UV Coatings

Monomer sales are predicted to increase at an 5.01 percent CAGR during the 2023-2030 forecast period until 2030. VMOX (vinyl methyl theoxazolidinone) is a brand-new vinyl monomer specifically made for the use of UV coatings and inks within the printing and paper industry, such as UV.

As compared to the conventional reactive diluents, monomer has many advantages like high reactivity, low viscosity, excellent brightness of color, and a low smell.

Growing Focus on Vehicle Aesthetics is Propelling UV Lacquer Coatings Sales in the Automotive Sector

As for the end-users in terms of end users, the automotive industry is predicted to hold the majority of the global market for UV coatings. The demand for UV coatings for the automotive manufacturing is anticipated to increase by a CAGR of 5.7 percent in the forecast period. In the automotive sector the technology of radiation curing is being increasingly used to coat a variety of substrates made from plastic.

Automobile makers are converting from die-casting metals to plastics used for automotive interiors because the plastics reduce the overall weight of vehicles which reduces carbon dioxide emissions and fuel consumption as well as providing various aesthetic benefits. This trend is likely to increase sales in this sector during the forecast time.

Competitive Landscape of the UV Curable Coatings Market

• Arkema Group
• BASF SE
• Akzo Nobel NV
• PPG Industries
• Axalta Coating Systems LLC
• The Valspar Corporation
• The Sherwin-Williams Company
• Croda International PLC
• Dymax Corporation
• Allnex Belgium SA/NV Ltd.
• Watson Coatings Inc.

Recent Developments in UV Curable Coatings Market

February 2023: Beckers, a global company in coil coatings, developed the first commercial paint formulations for dual ultraviolet and electron-beam curing in the coil coating market.

November 2023: Evonik’s Coating Additives business line added a new deaeratorTEGO Airex 923, mainly designed for radiation-cured wood coatings.

In April 2021, Dymax Oligomers and Coatings partnered with Mechnano to develop UV-curable dispersions and masterbatches of Mechnano's functionalized carbon nanotube (CNT) for UV applications.

Sherwin-Williams Company acquired Sika AG's European industrial coatings division in August 2021. The deal was set to be completed in Q1 2023, with the acquired business joining Sherwin-Williams' performance coatings group operating segment.

In June 2021 PPG Industries Inc. acquired Tikkurila, a Leading Nordic Paint and Coatings Company. Tikkurila’s main line includes environmentally friendly decorative products and high-quality industrial coatings.

 In 2020 The Protech Group acquired the coatings division of ACG Industrie (France) and the liquid coatings manufacturer Winslow Browning Inc. (USA).

In September 2020, AkzoNobel acquired Stahl Performance Powder Coatings and its range of products for heat-sensitive substrates. The acquisition accelerated AkzoNobel’s low curing technology that the company expects would open up new market opportunities.

In February 2020, Hexagon Purus received the first contract from a major US hydrogen fuel supplier to provide hydrogen transport modules in the US. The purchased transport modules are composed of Hexagon’s proprietary, lightweight, Type 4, 500 bar pressure vessels.

In September 2020, Dymax Corporation opened a new adhesive production facility in Wiesbaden, Germany, in addition to its production sites in the US and Asia. The investment in production facilities and additional quality control systems enables the company to respond with even greater speed and precision to serve the needs of its customers in medical technology, automotive, electronics, and aerospace industries.

In April 2020, DSM-AGI started production of UV-curable resins at its brand-new, highly automated manufacturing facility in Taiwan. Furthermore, DSM-AGI strengthened its sales, logistics, technical service, and regulatory support to customers in Europe and the US through the integration with DSM Coatings Resins.

Regional Insights

Automakers in China Prefer UV Resistant Paints and Coatings for Better Finish

China is projected to represent nearly 25.2 percent of the market in 2023, resulting in an increase of market opportunity. The need for UV coatings in China is predicted to rise at a CAGR of 5.6 percent over the forecast time.

UV coatings producers in China invest in research and development and are developing new UV-curable coatings that utilize technologies that cut down on the emissions in volatile organic compound which will drive sales on the market.

Additionally there is a huge automobile manufacturing sector in China is predicted to drive the expansion of the market. The rising demand for UV-resistant paints and coatings in China will continue to drive sales throughout the period of assessment.

Expanding the Residential Sector will boost the sales of UV-resistant Clear Coat for wood in US

The United States is projected to be responsible for around 90.4 percent in the North American UV coatings market by 2030. By 2023 the industry expanded by 4.0 percent year-on-year

The presence of renowned producers of high-end coatings and paints such as PPG Industries and Sherwin-Williams Company in the USA is anticipated to increase sales on the market. In addition, the rising use of UV coatings within the industrial, automotive and construction industry is likely to increase the demand within the USA market.

Demand for Clear Coat UV Protection Will Remain High in Japan

The sales of Japan are expected to make up 20.6 percent of East Asia UV coatings market share in 2030. Companies in Japan invest in R&D to develop the creation of UV coatings which can endure higher voltages and be more efficient in terms of energy consumption.

It has also been home to several of the most prominent players in the world ultraviolet coatings industry. It is anticipated that this will propel sales at 5.7 percent CAGR during the period of assessment.

Segments Covered in the UV Curable Coatings Market

UV Curable Coatings Market By Composition

• Monomer
• Oligomer
• Polyester
• Polyether
• Polyurethane
• Epoxy
• Photo Initiator
• Additives

UV Curable Coatings Market By Type

• Water-Based
• Solvent-Based
• By End Use:
• Wood & Furniture
• Electronics
• Automotive
• Paper & Packaging
• Industrial Coatings
• Building & Construction

UV Curable Coatings Market By Region

• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia and Pacific
• East Asia
• Middle East and Africa

Frequently Asked Questions:

How Big is the UV Coatings Market?

The Global Gemstones Market is expected to grow rapidly at a 5.4% CAGR consequently, it will grow from its existing size of from $4070 Billion in 2023 to $6185 Billion by 2030.

Which End User is a Significant Consumer of UV Coatings Market?

The automotive segment is a significant consumer of UV coatings.

Who are the Key UV Coatings Market Players?

Arkema Group, BASF SE, and Akzo Nobel NV are key UV Coatings market players.