NEW YORK, June 30, 2020
- The growing electronics industry globally, rising disposable income & changing lifestyle in developing countries, and rising environmental awareness among consumer groups are driving the market.
- Market Size – USD 7.57 Billion in 2019, Market Growth - CAGR of 10.7%, Market Trends – Elevating electronics market.
NEW YORK, June 30, 2020 /PRNewswire/ -- 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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The COVID-19 impact:
The COVID-19 pandemic has led to the economic slowdown and halted the operations of numerous enterprises as well as manufacturing facilities. Moreover, the inadequate supply of raw materials and scarcity of labor workforce owing to the disease outbreak are estimated to result in alterations in the growth of UV Coatings market in the subsequent years. Antiviral Nano Coatings, a specified part related to UV coatings is what is capturing the market.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/uv-coatings-market
Further key findings from the report suggest
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)
End-User Industry Outlook (Revenue, USD Billion; 2017-2027)
Type Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
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