UV Coatings Market – Expected To Witness Growth USD 7,590 Million By 2019

UV or ultraviolet coatings are shiny and smooth coatings. They are cured on special machines and applied to printed paper surfaces using ultraviolet light. Ultra violet radiations are used to harden or cure special coatings. The UV coatings market is experiencing huge growth at present. It is predicted to witness around USD 7,590 million by the end of 2019.

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Increased demand for the UV coatings market owes to the use of emission free or environment friendly products. These are more efficient than conventional products. Factors like growing electronic industries, augmented environmental concerns and boost in demand for industrial wood coatings are likely to propel the UV coatings market. However, the restraining factor for the market is UV coatings not able to draw in the attention of price competitive markets.

The UV coatings market is based on compositions, types, consumers and geographies. The market, on the basis of compositions, can be divided into photo initiators, PU dispensers, monomers and oligomers.

The UV coatings market, on the basis of types, can be divided into display coatings, paper coatings, wood coatings, plastic coatings and over print varnishes. The market, on the basis of consumers, includes graphic arts, electronics and industrial coatings.

Globally, Asia Pacific is the most significant UV coatings market region. This is due to improved manufacturing facilities and increasing electronic sectors in the regions of China, Japan and South Korea.

Europe captures second position. This is on account of growing demand for industrial and domestic applications for paper, wood and plastic coatings. North America is the fastest growing UV coatings market region and is expected to grow steadily over the coming years.

UV Coatings Market

Information Source: Grand View Research