New York, NY -- (SBWIRE) -- 02/22/2021 -- The global UV Coatings market is forecast to reach USD 16.32 Billion by 2027, according to a new report by Reports and Data. The growing electronics industry globally addresses the increasing complexities and compliance and customization requirements. Smart manufacturing helps manufacturers achieve better efficiency in terms of output and cost by providing high levels of flexibility in the physical process.

Rising disposable income & changing lifestyles in developing countries will also drive the market. Per capita, disposable incomes exhibit low volatility in developed countries because of a spike in double-income households. It has directly boosted consumer purchasing power. The affordability of high-end products has also increased in developing countries and rising environmental awareness among consumer groups.

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Key participants include Akzonobel N.V, Royal DSM N.V, PPG Industries Inc, BASF SE, Sherwin-Williams Company, Valspar Corporation, Axalta Coatings Systems, Dymax Corporation, Eternal Chemical Co. Ltd and DIC Corporation, among others.

For the purpose of this report, Reports and Data have segmented into the global UV Coatings market by composition, end-user industry, type, and region:

Composition Outlook (Revenue, USD Billion; 2017-2027)
- Monomers
- Photoinitiators
- PU Dispersion
- Oligomers

End-User Industry Outlook (Revenue, USD Billion; 2017-2027)
- Electronics Industry
- Graphic Arts
- Industrial Coatings

Type Outlook (Revenue, USD Billion; 2017-2027)
- Wood Coatings
- Plastic coatings
- Conformal coatings
- Display coatings
- Paper Coatings
- Over Print Varnish

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Further key findings from the report suggest
- The UV LED curing technology utilizes in the wood coatings industry for edge coatings, roller coatings, and digital printing. UV LED technology has drastically reduced energy consumption and significantly reduces work-piece surface temperature.
- UV LED fiber curing system offers multiple benefits for curing coatings on all types of fiber and wires, which even include optical fiber, electrical and structural wire, and threads for smart fabrics.
- The manufacturing processes make use of the benefits of UV coatings. The applications range from manual curing of the adhesives used during sub-component assembly for quick coatings of the finished products' coatings and colorings.
- UV curable coatings is used for a variety of properties like polymeric surfaces, including glare reduction, wear or scratch resistance, anti-fogging, microbial resistance, and chemical resistance.
- Asia Pacific is a primary regional UV coatings market. The regional market is fueled by the increasingly high-performance electronics coatings demand and manufacturing facilities. China dominated the Asia Pacific market on account of the growing electronics industry, followed by Japan and South Korea.
- The European market is characterized by increasing domestic and industrial applications demand, such as wood, paper, and plastic coatings. The wood coatings was the major application of UV coatings in Europe, followed by high growth applications such as plastic and paper coatings.
- The chemical curing method emits volatile organic compounds that are harmful to the environment and human health. UV curing of the coatings is a photomechanical method of curing. Hence it does not involve any organic compounds in the curing process.

For a deeper understanding of the UV Coatings market on a global scale, the market is further segmented in key geographies of the world. This includes North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The report covers macro- and micro-economic factors, production and consumption ratio, and supply and demand ratio of each sub-segment and segment in each region.

Table Of content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. UV Coatings Market Segmentation & Impact Analysis
4.1. UV Coatings Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Growing electronics industry globally
Continued…

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