Date : June 15, 2023
Share on :

Illuminating the Future: Harnessing the power of light for eco-friendly, rapid curing, and exceptional performance in diverse industries, the global UV cured coatings market is expected to grow with 8.44% CAGR by 2023-28. - Bonafide Research

Illuminating the Future: Harnessing the power of light for eco-friendly, rapid curing, and exceptional performance in diverse industries, the global UV cured coatings market is expected to grow with 8.44% CAGR by 2023-28.  - Bonafide Research
The UV-cured coatings industry has revolutionized the way coatings are applied and cured, offering numerous advantages and opening up exciting possibilities. One of the key benefits of UV-cured coatings is their ability to achieve instant curing; leading to significantly reduced production times and increased efficiency. Unlike traditional coatings that require extended drying periods or heat curing, UV-cured coatings dry and harden within seconds when exposed to UV light. This fast curing process allows for faster production cycles, increased throughput, and improved productivity. In addition to their rapid curing, UV-cured coatings also offer exceptional performance properties. These coatings exhibit high levels of hardness, scratch resistance, and chemical resistance, making them ideal for demanding applications where durability is critical. The instant curing process creates a cross-linked network within the coating, resulting in a tough and resilient surface that can withstand harsh conditions. UV-cured coatings are also known for their eco-friendly characteristics. They are solvent-free or low in volatile organic compounds (VOCs), reducing emissions and minimizing the environmental impact. The absence of solvents also eliminates the need for complex solvent recovery systems and contributes to a safer environment for operators.

According to the research report, “Global UV Cured Coatings Market Outlook, 2028” published by Bonafide Research, the market is anticipated to cross USD 11 Billion by 2028, increasing from USD 7.39 Billion in 2022. The market is expected to grow with 8.44% CAGR by 2023-28. The versatility of UV-cured coatings is another significant advantage. They can be formulated to meet specific requirements for various substrates, including plastics, metals, wood, and glass. This flexibility allows for a wide range of applications across different industries. UV-cured coatings are used in automotive refinishing, electronics manufacturing, furniture production, printing and packaging, and many other sectors. As the demand for sustainable and high-performance coatings continues to grow, the UV-cured coatings industry is witnessing remarkable advancements. Researchers and manufacturers are constantly developing new UV-curable resins, pigments, and additives to enhance coating properties, expand the colour palette, and cater to emerging application needs. UV-cured coatings require less energy compared to conventional coating systems. The instant curing process eliminates the need for lengthy drying or heat curing methods, reducing energy consumption and production costs. As energy efficiency becomes a priority for industries, UV-cured coatings present an attractive option for achieving sustainability goals and optimizing operational efficiency. Also, the rapid curing nature of UV-cured coatings allows for faster production cycles and increased productivity. With traditional coatings, manufacturers often face bottlenecks due to drying or curing times. UV-cured coatings eliminate these bottlenecks, enabling continuous production, shorter lead times, and improved manufacturing efficiency.

The North American region, comprising the United States and Canada, holds a significant share in the global UV-cured coatings market. The region benefits from a robust manufacturing sector, particularly in industries such as automotive, electronics, and furniture, which are key consumers of UV-cured coatings. The presence of stringent environmental regulations promoting the use of eco-friendly coatings has also contributed to market growth. Additionally, technological advancements, research and development activities, and strong investments in UV-curing equipment have further propelled the market in this region. Europe represents a mature and well-established market for UV-cured coatings. Countries like Germany, France, and the United Kingdom are at the forefront of innovation and have a strong emphasis on sustainability. The region has witnessed a steady adoption of UV-cured coatings in various industries, driven by the stringent regulations on VOC emissions and a focus on reducing environmental impact. The automotive and industrial sectors are prominent end-users of UV-cured coatings in Europe. Additionally, the growing demand for premium coatings with superior performance properties has fueled market growth.

The Asia Pacific region is experiencing significant growth in the UV-cured coatings market. Countries such as China, Japan, India, and South Korea are key contributors to the market's expansion. The region's thriving manufacturing industries, rapid industrialization, and increasing investments in infrastructure projects have created a strong demand for UV-cured coatings. The automotive, electronics, and packaging sectors are major consumers of these coatings in Asia Pacific. Moreover, the region benefits from a large consumer base, rising disposable incomes, and a growing focus on sustainable practices, which are driving market growth. In South America, the expanding automotive, construction, and furniture industries are key factors driving the demand for UV-cured coatings. Furthermore, increasing awareness about the benefits of UV-cured coatings, such as reduced drying times, improved productivity, and environmental advantages, is contributing to market growth in South America. The Middle East and Africa region present emerging opportunities for the UV-cured coatings market. The construction industry, particularly in the Gulf Cooperation Council (GCC) countries, drives the demand for UV-cured coatings for architectural applications. The region's growing focus on sustainable practices and stringent regulations on VOC emissions are also propelling the adoption of UV-cured coatings. Additionally, the automotive, electronics, and packaging sectors are expected to contribute to the market's growth in this region.

Oligomers are the primary component of UV-cured coatings and contribute to their film-forming properties. They are responsible for the coating's durability, adhesion, and chemical resistance. Oligomers are available in various types, including acrylated polyesters, epoxy acrylates, urethane acrylates, and polyester acrylates. Acrylated oligomers are widely used due to their excellent UV curing characteristics, adhesion, and flexibility. Monomers are small molecules that help in the cross-linking of oligomers during UV curing. They improve the flow and levelling properties of the coating and contribute to its final performance characteristics. Common monomers used in UV-cured coatings include ethyl acrylate, butyl acrylate, methyl methacrylate, and hydroxyethyl acrylate. The selection of monomers depends on the desired properties of the coating, such as flexibility, hardness, and chemical resistance. Photoinitiators play a crucial role in the UV curing process by absorbing UV light and initiating the polymerization reaction. They convert UV energy into chemical energy, leading to the rapid curing of the coating. Commonly used photoinitiators include benzoin methyl ether, benzoin ethyl ether, benzoin isobutyl ether, and benzoin isobutyl ketone. Photoinitiators are carefully chosen based on their compatibility with the coating formulation and the desired curing speed.

The widespread application of UV-cured coatings across multiple industries reflects their versatility, performance advantages, and growing demand for sustainable and efficient coating solutions. The automotive industry is a significant consumer of UV-cured coatings. These coatings are used for automotive components, including exterior body parts, interior trim, and plastic components. UV-cured coatings offer excellent adhesion, chemical resistance, and durability, providing a high-quality finish and protection against environmental factors. The automotive sector's focus on lightweight materials and sustainability has further boosted the demand for UV-cured coatings, as they offer low VOC emissions and energy-efficient curing processes. Further, UV-cured coatings play a vital role in the electronics industry, where they are used for coating printed circuit boards (PCBs), display screens, and electronic components. These coatings provide insulation, moisture resistance, and protection against corrosion and mechanical stress. The rapid curing capabilities of UV-cured coatings are advantageous for high-volume production in the electronics sector. Additionally, UV-cured coatings offer excellent adhesion to various substrates, including metals, plastics, and glass, making them suitable for a wide range of electronic applications. The wood and furniture industry extensively utilizes UV-cured coatings for finishing and protection purposes. These coatings provide enhanced scratch resistance, chemical resistance, and durability to wood surfaces, while also offering a wide range of decorative options. UV-cured coatings enable quick curing times, allowing for faster production cycles and increased productivity in the woodworking industry. Moreover, the low VOC emissions of UV-cured coatings align with the industry's focus on sustainable practices and eco-friendly solutions.

There is a continuous focus on developing new UV-curable materials, including oligomers, monomers, and photoinitiators, to enhance the performance properties of coatings. This involves creating formulations with improved adhesion, flexibility, hardness, chemical resistance, and scratch resistance. The development of novel materials enables the production of specialized coatings tailored to specific applications and industry requirements. The adoption of UV LED technology in UV-cured coatings is gaining traction due to its numerous advantages over traditional mercury lamp systems. UV LED curing systems offer energy efficiency, longer service life, instant on/off capability, and reduced maintenance requirements. They also emit less heat, making them suitable for heat-sensitive substrates. The transition towards UV LED technology is driven by the industry's pursuit of energy savings, improved productivity, and reduced environmental impact. The combination of digital printing technology and UV-cured inks is revolutionizing the printing industry. UV-curable inks allow for precise inkjet printing, fast curing, and vibrant color reproduction. Digital printing with UV-cured inks offers flexibility, customization, and high-quality output on various substrates, including plastics, glass, and metal. This technology is widely utilized in packaging, labels, signage, and other printing applications, providing faster turnaround times and reduced waste compared to traditional printing methods. Increasingly, UV-cured coatings are being customized for specific applications and industries. Manufacturers are developing coatings with unique formulations and performance characteristics to meet the specific requirements of end-users. For example, coatings for automotive applications may have enhanced weatherability and chemical resistance, while coatings for electronics may focus on conductivity and insulation properties. This trend reflects the industry's focus on delivering tailored solutions that address specific challenges and deliver optimal performance.

Recent Product Launches:
• AkzoNobel launched Interpon D X-Pro, a range of UV-curable powder coatings designed for heat-sensitive substrates such as wood, plastics, and composites. These coatings offer fast curing, excellent adhesion, and durability, making them suitable for various applications, including furniture, flooring, and interior design.
• PPG Industries introduced the PPG SPECTRACRON ADVANTEDGE HPP Primer, a high-performance UV-curable primer designed for industrial metal applications. This primer provides excellent corrosion resistance, adhesion, and productivity advantages, allowing for faster processing and improved coating performance.
• BASF launched Basonat™ LR 9051 XP, a new UV-curable aliphatic polyisocyanate resin. This resin offers improved scratch resistance, chemical resistance, and weatherability. It is suitable for various coatings applications, including automotive, wood, and industrial coatings, where enhanced durability and performance are required.
• Sherwin-Williams introduced the SHER-WOOD® UV Cured Ultra 7000 Coatings, a range of UV-curable wood coatings for cabinetry, furniture, and other wood finishing applications. These coatings provide excellent clarity, chemical resistance, and scratch resistance while offering fast curing times and low VOC emissions.
• Axalta Coating Systems launched the Voltacure™ UV Coatings, a series of UV-curable coatings for automotive plastic parts. These coatings offer exceptional adhesion, flexibility, and weatherability, providing long-lasting protection and a high-quality finish to plastic components used in the automotive industry.

Bonafide Logo

Illuminating the Future: Harnessing the power of light for eco-friendly, rapid curing, and exceptional performance in diverse industries, the global UV cured coatings market is expected to grow with 8.44% CAGR by 2023-28. - Bonafide Research

  • Share on :

Contact usWe are friendly and approachable, give us a call.