Energy Curable Coatings Market Detailed Analysis and Forecast upto 2025
The paints & coatings industry is focusing on environmental-friendly technology that can replace harmful chemicals with sustainable material due to the rise in consumer awareness and tighter regulations on VOC emissions. Technologies such as waterborne coatings, powder coatings, and energy curable coatings are shining examples of environmental-friendly technologies. These energy coatings are dried as well as cured with electron beam (EB) sources, as well as UV rays, instead of conventional heat sources, as they require less energy, low cost, and possess quick drying time. Energy curable coatings possess superior gloss and high curing speed. Additionally, they have exceptional adhesion and flexibility and are also environmental-friendly in nature. They are utilized in several end-use applications such as hybrid inks & foil, offline coatings paper, screen coating paperboard, food packaging, electronics, overprint varnish, plastics, and optics.
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The global energy curable coatings market can be segmented based on type, chemical, application, and formulation. Based on type, the market can be classified into UV and EB (electron beam). Both EB and UV curing technologies are advanced, environmentally-friendly, and are more effective methods for curing inks, laminating adhesives, and coatings than water-based or solvent-based technologies. EB technology a considerably powerful industrial coating, which is most suited for low density materials such as polyolefin films and papers, high opacity ink layers, and laminating adhesive layers, while UV technology is more suitable for low optical density based materials such as printed ink, metallic ink, etc. Numerous UV coatings are available in the market with various viscosity grades such as roller coatings, which have low viscosity in the range of 65-200 cps, web offset coatings (160-300 cps), blanket coatings (180-400 cps), cylinder screen coatings (200-500 cps), and ink train coatings (1000-3000 cps).
Based on chemical, the market can be segregated into epoxy acrylates, polyester acrylates, and urethane acrylates. Demand for epoxy acrylates based energy curable coatings is expected to rise significantly during the forecast period due to its better chemical and mechanical properties. Based on application, the market can be segmented into wood, metal, plastic, glass, and paper. The wood application segment dominates the market in terms of value as well as volume consumption. Increase in infrastructure spending, particularly for the residential and commercial sectors across the globe is expected to boost the segment during the forecast period. Based on formulation, the market can be classified into oligomers, monomers, photoinitiators, and additives.
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Characteristic properties such as low energy consumption, low volatile organic compound (VOC), rapid curing & drying, coupled with superior hardness and abrasion resistance properties of energy curable coatings are driving the market. However, volatility in raw material prices and high production cost of these coatings are expected to hamper the market. Rising research activities in the field of bio-based materials in the formulation of energy curable coating products is also expected to provide new growth opportunities.
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