UV coatings have been available in the market for a long time and are commonly used in the wood and furniture industry to provide a glossy finish. Moreover, the graphic arts sector has widely adopted UV technology as it protects the print materials from scratches. Further, emerging areas in the automotive sector like electric vehicles and increasing investment in the electrical & electronics industry are expected to further increase the market for UV coatings. However, high cost and not much awareness in several end markets are two of the biggest factors that limit its market performance.
According to UnivDatos Market
Insights (UMI)’ research report “Global UV Coatings Market”,
the market is expected to showcase a growth of around 9% during the
forecast period. As
consumers are focusing on improving operation productivity in order to properly
utilize the resources, as a result, several coating consumers are preferring UV
coating over conventional paints & coatings products. However, still, a
large number of consumers are not aware of the benefits of UV coatings that in
turn provide resistance to its growth.
𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 - https://univdatos.com/get-a-free-sample-form-php/?product_id=30333
Based on the formulation, the market is categorized into
water-based and solvent-based UV coating. Of both, water-based UV coating is
likely to showcase significant growth during the foreseeable future. This can
be ascribed to the increasing demand for low-VOC coating products. Further,
increasing development in water-based UV coating is expected to reduce the cost
of the coating.
Based on application, the market is categorized into
industrial coatings, electronics, and graphic arts. Among these, industrial
coatings are likely to showcase substantial growth over the forecast period.
Rising investment in the electrical & electronics industry and recovery in
the automobile sector coupled with growing sales of electric vehicles are some
of the key factors which could drive the market over the forecast period.
Asia-Pacific is
expected to showcase robust growth over the forecast period
For a better
understanding of the market adoption of UV coatings, the market is analyzed
based on its worldwide presence in the countries such as North America (the
United States, Canada, Rest of North America), Europe (Germany, the United
Kingdom, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan,
India, and Rest of Asia-Pacific), and Rest of World. Over the forecast period,
the Asia-Pacific is expected to showcase robust growth owing to increasing
investment in the manufacturing sector in regional economies like India,
Vietnam, and Taiwan, among others.
𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 - https://univdatos.com/get-a-free-sample-form-php/?product_id=30333
According
to UnivDatos Market Insights (UMI)’,
the key players with a considerable market share in the global UV coatings market
include PPG Industries Inc., The Sherwin-Williams
Company, Akzo Nobel N.V., Axalta Coating Systems Ltd., PhiChem Corporation,
Dymax Corporation, Jainco Industry Chemicals, Teknos Group Oy, The Dow Chemical
Company, and ACTEGA GmbH. These companies are taking several strategic
decisions to meet the growing demand and increase their market share.
“Global UV
Coatings Market” provides comprehensive qualitative and quantitative insights on
the industry potential, key factors impacting sales and purchase decisions,
hotspots, and opportunities available for the market players. Moreover, the
report also encompasses the key strategic imperatives for success for
competitors along with strategic factorial indexing measuring competitors’
capabilities on different parameters. This will help companies in the
formulation of Go to Market Strategies and identifying the blue ocean for its
offerings.
Market Segmentation:
1.
By Formulation (Water-Based and
Solvent Based)
2.
By Application (Industrial
Coatings, Electronics, and Graphic Arts)
3.
By Region (North America (the
United States, Canada, Rest of North America), Europe (Germany, the United
Kingdom, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India,
Rest of APAC), and Rest of World)
4.
By Company (PPG
Industries Inc., The Sherwin-Williams Company, Akzo Nobel N.V., Axalta Coating
Systems Ltd., PhiChem Corporation, Dymax Corporation, Jainco Industry
Chemicals, Teknos Group Oy, The Dow Chemical Company, and ACTEGA GmbH)
Key
questions answered in the study:
1.
What are the current and future trends
of the global UV coatings industry?
2.
How the industry has been evolving in terms
of formulation and application?
3.
How the competition has been shaping
across the countries followed by their comparative factorial indexing?
4.
What are the key growth drivers and
challenges for the global UV coatings industry?
5.
What are the customer orientation, purchase
behavior, and expectations from the global UV Coatings suppliers across various
region and countries?
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