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.

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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.

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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?