The Global UV Curable Resins & Formulated Product Market is expected to reach USD 6.95 billion by 2026, from USD 3.72 billion in 2017 growing at a CAGR of 9.7% during the forecast period of 2019 to 2026.
Market Definition: UV Curable Resins & Formulated Product Market
UV curable resins involve less harmful emissions, fast cure, less energy consumption, less equipment space, low temperature treatment, and waste reduction. A UV curable resin does not contain any organic solvents that harm the environment. These resins include monomers, oligomers, co-initiators, photo-polymerization and various additives such as antioxidants, stabilizers, pigments, and plasticizers. UV curable resins are used in a wide range of applications in the ink & coating and adhesive industries. UV curable resins are the most preferred option for applications with fast curing and fast drying requirements. According to American Coating Association, U.S. exported USD 2.3 billion of paint and coatings products in 2014, the highest level in a decade. Furthermore, the third largest export market for U.S. paint and coatings products was China valued at USD 90 million in 2014. Japan and U. K. rounded to the top five leading export markets for U.S. paint and coatings products in 2014, at USD 41 million and USD 39 million, respectively. This factor proves that the market of paints and coating around the globe is growing and will drive the demand for UV curable resins.
Major Market Drivers & Restraints are as follows:
- Environmental awareness and stringent regulations
- High performance of UV curable resins
- Need to thermally dry sensitive substrates
- High deployment cost
- High growth prospects in 3D printing, digital printing, packaging, barrier films and printed circuit board
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Key Market Competitors: UV Curable Resins & Formulated Product Market
Few of the major competitors are Arkema SA, Allnex Group, Toagosei Co. Ltd., BASF SE, Royal DSM, Covestro AG, Nippon Gohsei, Hitachi Chemical Company Ltd., IGM Resins B.V., Miwon Specialty Chemical Co. Ltd., Lambson Limited, Alberdingk Boley GmbH, Jiangsu Sanmu Group Corporation, Wanhua Chemical Group Co., Ltd., Eternal Chemical Co. Ltd, Soltech Ltd., Dymax Corporation, Rahn AG, Perstorp Holding AB, Qualipoly Chemical Corporation, DIC Corporation, Double Bond Chemical Ind., Co., Ltd., Nagase Chemtex Corporation, CBC Co., Ltd., Arakawa Chemical Industries, Ltd., Deuchem Co., Ltd., Siltech Corporation, BYK-Chemie GmbH, Nissan Chemical Industries, Ltd. among others.
This UV Curable Resins & Formulated Product Market research report makes available state-of-the-art information about the entire market along with the holistic view of the market. This UV Curable Resins & Formulated Product Market research report displays a complete overview of the market, including myriad of aspects such as product definition, segmentation based on various parameters, and the existing vendor landscape. The report describes estimations about key players and brands in the market with respect to their actions such as developments, product launches, acquisitions, merges, joint ventures and competitive research.
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Market Segmentation: UV Curable Resins & Formulated Product Market
- The global UV curable resins & formulated product market is segmented based on composition, chemistry, application, technology and geographical segments.
- Based on composition, the global UV curable resins & formulated product market is segmented into oligomers, monomers, photoinitiators and additives.
- On the basis of chemistry, the global UV curable resins & formulated product market is classified into non acrylates & oligoamines and acrylate oligomers.
- On the basis of application, the global UV curable resins & formulated product market is classified into coatings, overprint varnishes, printing inks, adhesives, 3D printing and others.
- On the basis of technology, the global UV curable resins & formulated product market is classified into solventborne, 100% solids, waterborne, powder and others.
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The global UV curable resins & formulated product market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of UV curable resins & formulated product market for global, Europe, North America, Asia Pacific and South America.
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