LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global UV curing coatings market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The growth of the UV curing coatings market is mainly due to the improved performance of the product. The improvement in properties like better abrasion, adhesion, durability, elasticity, and chemical resistance, provides better operational speed and faster drying time for the product. Although the coated product is exposed to sunlight, the coatings and sealants are protected from fading, corrosion, and chemical attacks. In addition to the improved performance and the benefits of UV curing coatings in many applications, the growing awareness and acceptance of bio-based products and resins, and the stringent government norms to regulate the emission of volatile organic compounds (VOC), together, drive the growth of the UV curing coatings market.
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The top three emerging trends driving the global UV curing coatings market according to Technavio chemicals and materials research analysts are:
- Growing demand from the wood and furniture industries
- Approval by the FDA for food packaging
- Improved performance of UV curing coatings in the electronic assembly
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Growing demand from the wood and furniture industries
The increased demand for UV curing coatings from the wood coating industry is one of the most crucial factors for the growth of the market. UV curing coatings, obtained as primers, topcoats, and sealants are widely used in the wood and furniture industries for architectural moldings, doors, and window panes.
“The properties exhibited by UV curing coatings such as excellent finishing, improved quality, faster drying time, increased operational efficiency, and reduced space requirement, will significantly contribute to the increased demand from the wood and furniture industries. The coatings act as a protective layer against chemical attacks, corrosion, and fading, which occurs on direct exposure to sunlight,” says Kurva Samba Sivudu, a lead analyst at Technavio for research on paints, coatings, and pigments.
Approval by the FDA for food packaging
The Consumer Product Safety Commission (CPSC) and the FDA check the quality of the packaging materials to ensure that they are free from toxic substances and do not have adverse effects on human health. The basic components of UV curing coatings are reactive diluents, photo-initiators, and base resins.
“The packaging substances are dried by UV radiation and do not use heating process, which protects the food products from hydrocarbons. Although the UV curing coatings are less hazardous and have less impact on human health, direct contact with the packaging material through ingestion or inhalation is less hazardous to human health,” adds Kurva.
Improved performance of UV curing coatings in the electronic assembly
The light UV curing coatings are highly compatible with electronic components such as PCBs, chip encapsulants, and wire bonders. The UV curing coatings perform better than the powder-based curing coatings. The powder-based coatings get readily heated up when they are applied on PCBs, which can damage the wiring inside the electronic assembly due to short circuits.
UV curing coatings provide excellent adhesion to enable the quick soldering of the wires in PCBs. Altogether, due to the improved performance of UV curing coatings and due to the improvement in the electronics industry, the demand for UV curing coatings in the electronics industry is expected to grow tremendously over the forecast period.
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