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Waterborne UV Coating Systems Market Explores New Growth Opportunities By 2021
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Increasing environmental awareness and concern for our surrounding is expected to drive the global waterborne UV coating systems. The presence of stringent environmental standards for emission of volatile organic compounds imposed by various governments and regulatory bodies has played a crucial role in the development of a substitute for solvent coating systems. Waterborne UV coating systems uses water as the solvent unlike the solvent system which utilizes harmful chemicals. Moreover, the waterborne UV coating systems are easy to apply and have its emerging benefits as composite repair, direct to metal applications, sunshine-cure coatings for decking and aerospace application among others.
The growing construction and furniture industry, particularly in China is expected to boost the growth of the market. Asia Pacific is expected to be the largest consumer of waterborne UV coating systems in the next few years, owing to the increasing population and growing industry for secondary processed products especially in China and India. Currently, Europe is the largest market for waterborne UV coating systems due to the stringent regulations with respect to the environment in this region. Therefore, numerous automobile companies in this region are replacing solvent coating systems with waterborne UV coating systems.
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Bayers MaterialScience, Axalta Coating Systems, Nanovere Technologies, Becker coatings and Sirca SpA are some of the key participants of the waterborne UV coating systems.
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