“Coatings - The biggest & fastest growing application segment; and industrial coatings - the biggest end-user industry”
UV curable resins are employed for the formulation of UV curable coatings, inks, adhesives, etc. Coatings manufacturing is the biggest as well as the fastest-growing application segment of UV curable resins, consuming more than 65.0% of the total global demand in 2012. Due to the green nature of UV curable coatings and an extremely less curing time, it is seen as an incredibly attractive alternative by various end-user industries. Field applied coatings and metal coating applications (coil, automotive, etc.) are expected to be the key growth areas for UV curable coatings in the near future. The UV curable inks market is also growing considerably on account of strict norms related to printing on food packaging. Industrial coating is the biggest end-user industry of UV curable resins, consuming more than 35.0% of the total global demand in 2012. The industrial coating industry is dominant around the globe unlike electronics which is only dominant in Asia-Pacific.