The global UV curing coating market is expected to grow from US $6.5 billion in 2020 to US $11.4 billion in 2025, with a CAGR of 12%. UV coating provides a bright surface with high brightness, which is environment-friendly, wear-resistant, fast drying and has a variety of properties.The continuous introduction of environmental regulations has driven the increasing popularity of green coatings in the industry, and the market demand for UV curing coatings has also increased. However, during the covid-19 pandemic, the sales volume of electronic and industrial coatings industry declined, affecting the demand for UV curing coatings.
Due to increasingly stringent emission reduction regulations, UV curing coatings are more acceptable in Europe and North America, but need to be further developed in Asia Pacific and mea (Middle East and Africa).UV curable coatings are widely used in industry, electronics and graphic arts, but these fields are greatly affected by covid-19. The blockade measures taken by various countries have affected many industries, which is an important factor affecting the decline of the local UVB coating market.
Under the epidemic, the sudden suspension of some projects also affected the growth of UV curing coating market, and the advertising industry began to turn more to online mode. Therefore, the UV coating market will take some time to recover. However, due to the increased demand in the end application market, the UV curing coating market is expected to begin to recover soon.Environmentally friendly coatings and coatings that can reduce pollution in the whole life cycle are called green coatings. These coatings are more expensive than other types of coatings on the market. However, compared with the traditional environmentally friendly coatings, they have more advantages and comparable performance.
In the fierce market competition, a new product whose market price is higher than that of the existing product is difficult to gain a foothold. UV curing coatings are no exception, and their prices are higher than other existing coatings on the market. This allows major market players to choose cautious investment due to poor expected demand, and local manufacturers are also limited by high capital expenditure when replacing or updating existing equipment. With the upgrading of UV curing equipment and process technology, UV curing coatings have also been applied on site. During on-site curing, UV curing coating is mainly applied to base materials such as concrete floor, wood floor, vinyl floor and table panel. All these applications are still in the development stage.
In addition, from the limited application footprint of UV technology in the field of metal coating, it is still expected to become one of the leading technologies in this field in the future. The metal coatings market includes several segments, such as automotive coatings, protective coatings, coil coatings and can coatings.
Post time: Apr-08-2022