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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Asia Pacific dominated the <strong>UV</strong> coatings market in terms of production <strong>and</strong> consumption. Burgeoning electronics<br />
industry due to high dem<strong>and</strong> for high performance electronics in the region is driving the <strong>UV</strong> coatings market. China<br />
is contributing highest to the dem<strong>and</strong> of <strong>UV</strong> coatings in the region. Europe followed Asia Pacific in terms of<br />
consumption. Dem<strong>and</strong> in the region is mainly for wood coatings, plastic coatings <strong>and</strong> paper coatings from industrial<br />
coatings industry. North America emerged as the third-largest market for <strong>UV</strong> coatings in terms of consumption. The<br />
dem<strong>and</strong> in the region is primarily driven by rising use of <strong>UV</strong> coatings in printing varnishes. Rest of the World is<br />
expected to exhibit strong growth in the <strong>UV</strong> coatings marketing due to rising dem<strong>and</strong> from electronics industry.<br />
Global <strong>UV</strong> <strong>Coatings</strong> Market: Competitive L<strong>and</strong>scape<br />
Global <strong>UV</strong> coatings market is moderately fragmented with major players having presence across the value chain.<br />
Players in the market adopt backward integration <strong>and</strong> strategic alliances as key strategies to sustain their market<br />
position in the <strong>UV</strong> coatings market.<br />
<strong>Key</strong> players in <strong>UV</strong> coatings market include The Dow Chemical Company, BASF SE, Akzonobel N.V., DIC Corporation,<br />
PPG Industries Inc., Dymax Corporation, Royal DSM N.V., Centexbel, Actega <strong>Coatings</strong> & Sealants, Eternal Chemical<br />
Co. Ltd., Axalta <strong>Coatings</strong> Systems, The Valspar Corporation, Ashl<strong>and</strong> Inc., Croda, Brilliant <strong>Coatings</strong> Solutions <strong>and</strong><br />
Soltech Ltd.
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