UV coating: a wide range of applications, still in the growth stage

From the perspective of life development cycle, UV coatings are still in the growth stage. Domestic early light curing coating is from pure UV curing wood floor coating, UV paper glazing oil, UV curing polyvinyl chloride (PVC) buckle plate coating began to start, developed to plastic substrate based UV curing motorcycle coating, UV home appliance coating, UV CD coating, UV vacuum coating etc. Compared with solvent-based coatings, UV coatings have obvious advantages, and the application of UV coatings continues to expand.

According to RadTech China Association statistics, in 2016, the total output of UV curing coatings in China was 74,400 tons, with an output value of 3.284 billion yuan. The UV light curable coatings market is mainly concentrated in bamboo and wood floor coatings (36,500 tons, accounting for 49.11%), plastic coatings (17,400 tons, accounting for 23.39%), paper coatings (6,100 tons, accounting for 8.23%) and mobile phone coatings (5,800 tons, accounting for 7.83%). China's wood light curing coating is now relatively mature, the market is in a state of steady growth; And mobile phone, computer and other light curing coating, Japanese, Korean products occupy a larger market share. Therefore, domestic production enterprises still have a huge space for development.

In 2010, the global UV coating market size is $3.556 billion, 2016 growth to $4.742 billion. The compound annual growth rate from 2010 to 2019 reached 9.95%. In 2010, the global demand for UV coatings was 432,200 tons, and in 2016, the demand was 573,000 tons.

In 2016, the market size of China's UV coating industry was about 5.13 billion yuan, with a year-on-year growth of 41.09%. In 2012, China's UV coating output is 52,500 tons, in 2017, China's UV coating output is 89,000 tons, the compound annual growth rate of 11.15%. In recent years, the domestic production of UV coatings has developed very fast, but from the perspective of the ratio of UV paint production and paint production, the domestic UV coatings in the total production of domestic coatings accounted for a very small proportion. The ratio of UV coating production and coating production in China has been hovering at 0.4%-0.5% for many years, and the international average level is 2.8-3.2%. China is far below the international average level, and the market has a huge space for growth.