Zion Market Research Global UV Coatings Market, 2016–2024 | Page 3

UV Coatings Market
Global UV Coatings Market: Segmentation
The global UV coatings market is segmented into its composition, type, end-user industry and
geography. On the basis of composition, the market is divided into monomers, photoinitiators,
oligomers, PU dispersions and others. Based on the type, the global market is segregated into
plastic coatings, wood coatings, display coatings, conformal coatings, overprint varnish and
paper coatings. Based on end-user industry, the market is classified into electronics industry,
industrial coatings, and graphic arts. Diversification of the global market based on region is seen
into Asia Pacific, North America, Latin America, Europe and the Middle East and Africa.
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Global UV Coatings Market: Growth Factors
The global UV coatings market is a growing market. Major factors such as increasing
environmental awareness, the rise in coatings demand for industrial applications, decreasing
operational cost, minimum volatile organic compounds emission, superior characteristics such as
higher gloss finish and improved resistance, increased research and development activities and
innovations such as bio-based UV coatings are driving the global UV coatings market. Growing
electronics industry is the major end-user industry due to which the market is growing rapidly.
Wood coatings and industrial coatings are the major segments showing significant growth in the
market. However, growth may be hampered by factors such as low price competitiveness and
niche applications.