2019 Radiation Curable Coatings Market - Latest trends, Growth and Forecast up to 2024
Radiation
curable coatings market size should witness a steady growth owing to positive
application scope in inks, adhesives and packaging industries. They are surface
treatments which are cured by electron beam or UV radiations, which are widely
used for materials including glass, wood, paper, and plastics. They are solvent
free, which prevents Volatile Organic Compounds (VOCs) releases in atmosphere
and protect environment from its negative impact.
It
consists of oligomers, monomers, photo-initiators and additives. Polyester,
polyether, urethane, acrylic and silicone acrylates are common oligomers. There
function is similar to water borne and solvent borne paints which imparts
flexibility, strength, and corrosion resistance. Monomer act as solvent in
radiation curable coatings and forms cross –linking polymer network, thereby
reducing the viscosity. Photo- initiator triggers network formation process and
plays a vital role to achieve desired film property. Additives are used in
radiation curable coatings to improve and modify functions including pigments,
defoamers, viscosity control, and wetting agents.
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Increasing spending on house maintenance along with growing awareness
related to long-term monetary saving drives wood coating market size. Global
wood coating market is poised to surpass USD 2.5 billion by 2024. Radiation
curable coatings protects wood from heat, abrasion and moisture evaporation to
prevent dimensional change and preserve structure. It requires low maintenance
and improves wood aesthetics, which is applied to flooring, sliding window
frame and deck. Increasing consumer awareness for environment friendly and low
toxicity may propel radiation curable coatings market size.
Rise in disposable income and increase in spending on interior decoration
is stimulating furniture market demand. House furniture includes kitchen cabin,
wardrobe, bed, table & chair requires revamp and customisation as per
requirement. Rapid industrialization and increase in commercial offices
including banks, stores, hospitals and school, which has boosted wood furniture
demand. Radiation curable coatings improves wood surface characteristics,
provides anti- slip effect and displays excellent stability in hot and cold
environment conditions.
Expansion in automotive, chemical, energy, construction and heavy
engineering has fuelled steel demand. Global steel industry use about 2 billion
tons per year iron ore to manufacture steel. UV radiation curable coatings is
widely used in food & beverage industry and speciality can manufacturing
owing to its characteristics including protecting metal from high temperature,
which in turn improves dimensional stability, provides glossy finishing and
smooth metal surface. Radiation curable coatings provides chemical resistance
and inhibits corrosion formation on protective coat to heating coils, tanks,
vessels and pipes in chemical plants.
They resist scratch and delivers high
surface hardness without compromising metal ductility thereby used in steering
wheels, roof racks and truck axel manufacturing in automotive industry. It also
forms protective cover on aluminium or steel built fences, electrical conduits
and water sprinkler system.
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North America, driven by Canada and the U.S. radiation curable coatings
market size may show high growth owing to rise in chemical manufacturing and
optical electronic industries. Shift in consumer spending on home furniture may
drive regional industry growth.
Europe driven by UK, France and Germany radiation curable coatings market
size may show significant gains over the forecast timeframe. Favourable
government regulation along with consumer awareness for low pollution coating
option may stimulate industry growth. Rise in building construction and wood
application in house furnishing may propel regional growth demand.
MEA asbestos gloves market will witness notable gains in forecast period.
Rapid urbanization and industrial development are key factors supporting
industry demand. Increasing disposable income along with awareness regarding
fire safety measures will boost the industry size. High application scope in
petrochemical industry to ensure safety from explosive and highly flammable
compounds will support product penetration.
Global radiation curable coatings
market share is fragmented. Key market players are BASF, DSM, Sartomer, Allnex,
Dainichiseika and Chongqing Changfeng.
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2019 Radiation Curable Coatings Market - Latest trends, Growth and Forecast up to 2024
Reviewed by GMI
on
July 04, 2019
Rating:
Reviewed by GMI
on
July 04, 2019
Rating:
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