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In 2019, UV cure coatings will generate over USD 10.5 million in TCD alcohol DM market size. TCD alcohol DM is used to provide UV cured coatings in various industries such as, graphic arts, electronics devices, and automobiles. The increasing use of the UV radiation proficiently cures the coatings such as adhesives, inks, and paints in a shorter time. The UV cured coating surfaces has long-life and high resistance to scratching and abrasion and is likely to drive market during the forecast period.
The ongoing COVID-19 pandemic has affected various industries such as printing, automotive, electronic gadgets, and others, due to strict social distancing norms and lockdowns by various governments across the globe. The average shutdown duration of the manufacturing and printing facilities across the world was nearly 10-15 working days. These factors will limit the TCD alcohol DM market expansion across the globe in 2020.
Significant developments of eco-friendly UV inkjet inks coupled with low VOCs in the printing industry are expected to positively drive the application penetration in TCD alcohol DM market by 2026. UV treated inks are likely to have more acceptance over petrochemical-based inks on account of rising eco-friendly nature of the UV inkjet inks and a global move toward non-volatile composites. The others application segment will attain a moderate growth potential and lower ability to capture the market as there will be significant penetration of TCD alcohol in UV cured coatings and inkjet inks.
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Asia Pacific industry share, led by China, will witness over 7.5% CAGR by 2026. A substantial demand for printed books, labels, and packaging in the region will essentially contribute toward the high revenue generation. Currently, people across the region are adopting the habits of consuming the packaged food products and are using sanitation goods such as cleaning wipes, sanitizers, hand wash, and preventive essentials including floor & home appliances cleaners more frequently. Changing preferences are expected to create new opportunities for the FMCG sector, significantly impacting the printing ink industry across the region.