11.4 Billion! UV Curable Coatings Market Is Worthy of Attention

Recently, based on the research of the global UV curing coatings market segmentation, the global 2025 forecast market research report released on the Internet pointed out that the global UV curing coatings market is expected to grow from 6.5 billion U.S. dollars in 2020 to 11.4 billion U.S. dollars in 2025. The compound annual growth rate is 12.0% during the forecast period. The government is expected to focus on the adoption of clean fuels and the growth in the number of natural and fuel cell electric vehicles to promote market development.

What is UV coating

UV paint is the English abbreviation of Ultraviolet Curing Paint, namely ultraviolet actinic paint, also known as light-initiated paint, light-curing paint. Unlike PU, PE, NC and other paints named after film-forming substances, UV paint is named after the curing method of the paint. It is automatically roll-coated and drenched onto the furniture board through machinery and equipment. Under the irradiation of ultraviolet light (wavelength 320-390nm), it promotes the decomposition of initiator, generates free radicals, initiates resin reaction, and instantaneously cures to form a film.

In terms of quantity, the monomer occupies the largest share of the entire market. The monomer is a non-flammable material with low volatility and low odor. The monomer can usually have 1 to as many as 6 UV curing groups, and the number of functional groups will determine the characteristics that the monomer will bring to the UV formulation. These monomers are low-viscosity materials, most often acrylic esters, and simple polyfunctional or monofunctional polyols. The monomer is usually selected based on the acrylic functional group attached to the monomer.

In terms of value and quantity, wood coatings occupies the largest market share in the global UV-curable coatings market. Wood coating types are the largest market segment in the UV-curable coatings market, because after spraying wood, it can enhance aesthetic appeal and provide surface protection. Wood coatings are widely used in residential and non-residential applications. China is the largest consumer of wood coatings. Subsequently, certain European countries, such as Germany and Sweden, consumed huge amounts of UV wood coatings in 2019. At that time, due to the complete and partial blockade in the Asia-Pacific region, demand dropped sharply.

During the forecast period, the industrial coatings industry will dominate the global UV-curable coatings market. Industrial coatings are the largest end application industry in the UV curing coatings market. Among industrial coatings, wood coatings, plastic coatings and paper coatings are the main market segments. Other areas of industrial coatings include resilient flooring and metal coatings. Wood coatings are the most consumed category of all other categories. UV curable coatings are known for their high gloss, while providing excellent adhesion and abrasion resistance, so they are widely used in high-quality coatings for parquet, wood and furniture industries.

During the forecast period, the Asia-Pacific region will occupy the largest market share in the UV curable coatings market. The Asia-Pacific region is the largest and fastest-growing UV-curable coatings market, accounting for nearly half of the global total by 2019. The end application manufacturers of industrial and electronic coatings have a huge demand for high-performance coatings, which also reflects the strong demand for UV-curable coatings in the region.

The Asia-Pacific region is the most promising coatings market and is expected to remain unchanged in the near future. The importance of the Asia-Pacific region in the chemical industry cannot be underestimated. Its huge developing middle-class population reflects the demand for the industry, and has led to the continued industrialization process in the region, as well as the rapid development of the manufacturing industry.