“The UV curable resins & formulated products market is projected to register a CAGR of 9.5% during the forecast period, in terms of value.”
The global UV curable resins & formulated products market is estimated to be USD 4.00 billion in 2018 and is projected to reach USD 6.31 billion by 2023, at a CAGR of 9.5% from 2018 to 2023. The market is witnessing moderate growth, owing to increasing application, technological advancements, and growing demand for these resins in the Asia Pacific and South America. UV curable resins are largely used in the coating application. The rapid growth of the market is driven by environmental concerns and increasingly stringent regulations. The need to thermally dry sensitive substrates and the high setting-up cost of the UV coatings plant are some of the restraints for the UV curable resins & formulated products market.
“Coatings application segment is expected to lead the UV curable resins & formulated products market during the forecast period.”
The coatings application segment will continue to lead the UV curable resins & formulated products market, as the physical and chemical properties of the UV chemistry permit excellent gloss and viscosity control, and therefore, the application is easy with minimal or no process issues with VOCs/HAPs. The UV curing technology has outperformed the coatings market growth consistently over a period of time, and have turned out to be an overall sustainable and high growth technology in the coatings industry. This high demand for UV curable coatings is majorly due to its high performance, and excellent environmental & safety profile.
“Asia Pacific is the largest market for UV curable resins & formulated products.”
Asia Pacific accounted for the largest share of the UV curable resins & formulated products market in 2017. Factors such as evolving environmental & regulatory scenario, increasing consumer awareness (including sensitivity to health and safety), uncertainty about oil price, and pressure from flagship companies willing to improve the environmental performance of their supply chain have led to an increased demand for UV curable resins & formulated products in the Asia Pacific region.
This study has been validated through primaries conducted with various industry experts worldwide.
These primary sources have been divided into 3 categories, namely by company, by designation, and by region.
- By Company Type- Tier 1- 72%, Tier 2- 25%, and Tier 3- 3%
- By Designation- C Level- 24%, Directors – 73%, and Others - 3%
- By Region- North America- 10%, Europe- 20%, Asia Pacific- 45%, Middle East – 19%, and South America - 6%
Companies profiled in the report
- Arkema (France)
- Allnex (Germany)
- Toagosei (Japan)
- BASF (Germany)
- Royal DSM (Netherlands)
- Covestro (Germany)
- Nippon Gohsei (Japan)
- Hitachi Chemical Company (Japan)
- IGM Resins (Netherlands)
- Miwon Specialty Chemical (South Korea)
- Alberdingk Boley (Germany)
- Jiangsu Sanmu Group (China)
- Wanhua Chemical Group (China)
- Eternal Chemical (Taiwan)
- Soltech (South Korea)
- Dymax Corporation (US)
- RAHN AG (Sweden)
- Perstorp Holding (Sweden)
- Qualipoly Chemical Corporation (Taiwan)
- DIC Corporation (Japan)
- Double Bond Chemical (Taiwan)
- Nagase ChemteX Corporation (Japan)
- CBC Co., Ltd. (Japan)
- Arakawa Chemical Industries (Japan)
- Deuchem (Taiwan)
- Siltech Corporation (Canada)
- Lambson Limited (UK)
- BYK-Chemie (Germany)
- Nissan Chemical Industries (Japan)
This report covers the UV curable resins & formulated products market in terms of key regions and important countries in each region. The UV curable resins & formulated products market has been segmented based on composition into oligomers, monomers, additives, and photoinitiators. Based on application, the market has been segmented into coatings, overprint varnish, printing inks, adhesives, 3D printing, and other applications (which include optical, concrete, dental, foil, UV nail paints, and resilient flooring). UV curable resins & formulated products market has been segmented on the basis of chemistry into non-acrylates & oligoamines and acrylates, which includes epoxy acrylate, polyester acrylate, urethane acrylate/PUDs, and others based on oligomer chemistry. Furthermore, the UV curable resins & formulated products market has been segmented on the basis of technology into solventborne UV, waterborne UV, 100% solids UV, and powder UV. The UV curable resins & formulated products report has been studied for North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Reasons To Buy the report
- Comprehensive coverage and analysis of the UV curable resins & formulated products market in Asia Pacific, Europe, North America, Middle East & Africa, and South America
- Competitive landscape of major players and their developments in the UV curable resins & formulated products market
- A list of VOC regulations driving the market in key countries and regions
- Identifying high-potential opportunities for UV curable resins
- Identifying and targeting high-growth application segments