Albany, NY -- (SBWIRE) -- 02/25/2019 -- In the recent times, the global market for energy curable coatings has observed a noticeable rise and is anticipated to experience an upswing in its valuation in the years to come. The significant rise in the paints and coatings industry is likely to propel this market substantially over the next few years.
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This market study is a thorough analytical research of the performance of the worldwide market for energy curable coatings in past and over the period from 2017 to 2025. The report emphasizes especially on the growth boosters, opportunities, challenges, obstacles, and the prominent trends in this market in a bid to determine the pace of its progress.
The two main types of energy curable coatings are ultraviolet (UV) and electron beam (EB). Both UV and EB curing technologies are advanced, eco-friendly, and efficient methods for laminating adhesives, curing inks, and coatings than the traditional solvent- or water-based technologies. EB technology is a highly powerful industrial coating and is most suited for low density materials, such as high opacity ink layers, polyolefin films and papers, and laminating adhesive layers, whereas, UV technology works better for low optical density-based materials, such as metallic ink and printed ink.
Epoxy acrylates, urethane acrylates, and polyester acrylates are the main chemical components, which make the bases for energy curable coatings. The demand for epoxy acrylates-based coatings is projected to rise substantially over the next few years, owing to its superior mechanical and chemical properties.
The global market for energy curable coatings is spread across North America, Asia Pacific (APAC), Eastern Europe, Western Europe, Latin America, and the Middle East and Africa (MEA). Among these North America has surfaced as the leading market for energy curable coatings in terms of both, production and consumption. The markets in Asia Pacific and Europe follow the North American market closely. The U.S. has emerged as the key contributor to the North America market for energy curable coatings, thanks to the strict environmental regulations and rising uptake of eco-friendly, low VOC, and non-hazardous coatings in a number of industries in the economy.
The market in Asia Pacific is projected to expand substantially in the near future due to the rising population, rapid growth in the economy, increasing investment in infrastructural developments in India, China, and Japan, and the surging production of electronic products in the region. On the other hand, the market for energy curable coatings in the Middle East and Africa is likely to grow at a moderate pace in the coming years, due to lesser product awareness among consumers.
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The global market for energy curable coatings demonstrates a moderately fragmented market with a significantly high number of participants. Allnex, RAHN AG, BASF SE, Sartomar, and Royal DSM are some of the leading players in this market. These companies are currently focusing on innovation and advancements in their products to sustain in this competitive environment. However, their focus is projected to shift towards strategic alliances in the near future, in an effort to expand their reach across the world.