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Radiation curable formulations, used as coatings, inks, and adhesives, are cross-linked by high-intensity ultraviolet (UV) or electron beam (EB) light sources. The coating formulations differ from those used in conventional paints and coatings in that the diluent (solvent) and resin (film former) used in thermally cured coatings are replaced by a reactive liquid vehicle in which a pigment and other additives may be dispersed or dissolved.
In 2004, the global market for formulations of radiation curable products was estimated at 300 thousand metric tons with a value of approximately $3.5 billion.
The four major sectors of the radiation curing business are the raw material producers, the ink and coating formulators, the suppliers of curing equipment such as UV lamps and electron beam accelerators, and the end-use industries. A close relationship among these sectors is essential in developing and expanding the business.
The following pie chart shows world consumption of radiation curable coatings in 2004:
Europe continues to be the largest consumer of radiation curable formulations. The importance of the various radiation cure applications differs very much in the United States, Europe, Japan and China. In the United States, the graphics markets for overprint varnishes and printing inks represent the largest applications for radiation curable formulations, followed by wood coatings. Together, these three segments represent 76% of total consumption. In Europe, however, wood and furniture coatings are the largest application with a share of 52%, followed by the graphics industry with overprint varnishes and printing inks accounting for 30%. The largest applications in Japanese markets are in electronics (33%), although the graphics sector with printing inks (20%) and the wood coatings industry (16%) are also important. These applications account for nearly 70% of the total consumption of radiation curable coatings. Coating applications for printing inks and adhesives show the strongest growth potential in the next few years. In China, wood/bamboo coatings represent the largest share with 44%, followed by printing inks (26%) and paper coatings (13%).
Through the next five years, government regulations in the United States and Europe, especially regarding air pollution, will continue to be a driving force behind the adoption of new, solvent-free coating technologies such as radiation-cured coatings. In 1998, the EPA issued its final ruling on the permissible VOC limits for architectural, industrial maintenance and automotive refinish coatings. The regulations became effective in late 1999. In 1999 in the European Union, the VOC Emissions Reduction in Industrial Installations Directive was adopted by the Council of Ministers, setting out targets for solvent emission reduction. It applies to the main types of organic solvent–using installations, including painting processes in a contained plant as well as paint manufacture, with the aim of an emission reduction of 50% from the 1990 levels. Existing facilities have until October 2007 to comply with the maximum allowed emission standards imposed by the directive. New and reconstructed facilities must comply by 2004.
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