UV Coatings Industry Outlook, Growth Prospects and Key Opportunities 2024
Growing electronics industry globally is expected to drive the UV coatings market. Currently UV coatings market is dominated by wood coatings product type. This trend is expected to remain same in the next few years due to increasing demand for wood coatings from its applications such as furniture, door skins, parquet etc.
Growing electronics industry globally is expected to drive the UV coatings market. Currently UV coatings market is dominated by wood coatings product type. This trend is expected to remain same in the next few years due to increasing demand for wood coatings from its applications such as furniture, door skins, parquet etc.
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Global <strong>UV</strong> <strong>Coatings</strong> Market: Drivers <strong>and</strong> Restraints<br />
Growing electronics industry globally is expected to drive the <strong>UV</strong> coatings market. Display coatings are the major<br />
type coatings used in the electronics across the globe. Rising disposable income <strong>and</strong> changing lifestyle in the<br />
developing countries is driving electronics industry across the globe. Additionally, internet of things is the new trend<br />
in the market that includes various electronic devices. These electronic devices use display coatings that are cured<br />
with ultraviolet. Furthermore, rising environmental awareness among consumer groups is expected to boost the <strong>UV</strong><br />
coatings market. Chemical curing method emits volatile organic compounds that are harmful to environment <strong>and</strong><br />
human health. <strong>UV</strong> curing of the coatings is photomechanical method of curing, hence does not involve any organic<br />
compounds in the curing process.<br />
However, availability of substitutes in the curing process is expected to hamper the <strong>UV</strong> coatings market. Chemical<br />
curing is among the strong competitor of <strong>UV</strong> curing process. Development of new products <strong>and</strong> applications is<br />
anticipated to provide immense opportunities for the players in the market. Additionally, development of bio-based<br />
<strong>UV</strong> coatings would open up an opportunity in the next few years.<br />
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Global <strong>UV</strong> <strong>Coatings</strong> Market: Geographical Dynamics
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