#UV Curable Resins Market Share

[vynzresearchreport]

Global UV Curable Resins and Formulated Products Market Size, Share & Trends Analysis Report by 2027

The global UV curable resins and formulated products market is witnessing significant growth, driven by various factors such as increasing demand for eco-friendly and sustainable coatings, rapid industrialization, and technological advancements. According to Vynz Research, a leading market research firm, the market is expected to exhibit strong growth during the forecast period. 

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Key Market Trends:

Rising Environmental Concerns: With growing environmental awareness and stringent regulations, there is a rising demand for eco-friendly and sustainable coatings. UV curable resins provide a viable solution as they are solvent-free, emit minimal volatile organic compounds (VOCs), and offer faster curing times, reducing energy consumption.

Increasing Industrial Applications: UV curable resins and formulated products find extensive applications across various industries, including automotive, electronics, packaging, and furniture. Their ability to provide superior adhesion, high gloss finish, chemical resistance, and durability makes them suitable for a wide range of applications.

Technological Advancements: Ongoing research and development efforts have led to the development of advanced UV curable resins and formulated products with improved performance characteristics. Innovations such as hybrid resins, water-based UV curable coatings, and bio-based formulations are driving market growth and expanding the application areas.

Market Drivers:

Growing Demand for UV-Cured Inks: The printing industry is witnessing a shift towards UV-cured inks due to their fast curing time, enhanced print quality, and ability to print on various substrates. UV-curable resins are an essential component of these inks, driving the demand for UV-curable resins and formulated products.

Expanding Automotive and Electronics Sectors: The automotive and electronics sectors are experiencing robust growth globally, creating a significant demand for UV-curable coatings, adhesives, and sealants. These products offer excellent resistance to chemicals, weathering, and scratching, thereby extending the lifespan of automotive and electronic components.

Increasing Infrastructure Development: The construction industry is witnessing substantial growth, primarily in developing economies. UV curable coatings are widely used in infrastructure applications, such as flooring, wood coatings, and decorative laminates, due to their quick curing times, durability, and excellent aesthetic appeal.

Market Forecast: The global UV curable resins and formulated products market is poised for significant growth in the coming years. Vynz Research projects a robust CAGR of 9.8% during the forecast period (2021-2027). Factors such as increasing investments in research and development, expanding end-use industries, and the rising popularity of eco-friendly coatings are expected to drive the market.

Moreover, the market is witnessing a surge in strategic collaborations, mergers, and acquisitions, as key players aim to expand their product portfolios and geographical presence. Asia-Pacific is anticipated to dominate the market due to the rapid industrialization in countries like China, India, and Japan.

Conclusion: The global UV curable resins and formulated products market is witnessing strong growth, driven by the increasing demand for eco-friendly coatings, expanding end-use industries, and technological advancements. With their superior performance characteristics and sustainable attributes, UV curable resins are gaining traction across various sectors. As the market continues to evolve, players are focusing on innovation and partnerships to stay competitive.

About Us: VynZ Research is a global market research firm offering research, analytics, and consulting services on business strategies. We have a recognized trajectory record and our research database is used by many renowned companies and institutions worldwide to strategize and revolutionize business opportunities.

Source: VynZ Research

[chemicalsindustry]

Photoinitiator Market Industry Leaders Size & Share Outlook & New Revenue Pockets

Growing applications and environmental restrictions on VOCs to drive the acceptance of photoinitiators in the market

The global photoinitiators market size was USD 1.6 billion in 2021 and is expected to reach USD 2.6 billion by 2026, projecting a CAGR of 10.3% between 2021 and 2026. photoinitiators are increasingly used in the adhesive, ink, coating and other end-use industries. The increasing demand of coating industry drives the demand for photoinitiators. However, the outbreak of COVID-19 has created ripples across various application industries leading to reduced demand for photoinitiators. Due to the lockdown scenario in most of the world, the demand for photoinitiators from adhesive, coating, ink and other industries have declined sharply in 2020.

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As the world is getting ready to open up its economies and reduce restrictions from June 2021, the market will take an upward turn. The photoinitiators market is expected to witness high growth in 2021 owing to increasing applications, technological advancements, and growing demand in APAC. Photoinitiators are largely used in the coating applications by the wood, furniture, and architectural end-use industries apart from adhesive and printing ink industries. This market growth is backed by growing environmental concerns and increasingly stringent regulations.

The increasing number of restrictions on VOCs across the globe is pushing the industry to search for an alternative. Photoinitiators proved to be a safer and economical substitute. It enhances the surface finish as well as the shelf life of the product. Photoinitiators have been developed so that they are safe even for use in the dental industry. Many food safety compatible photoinitiators are also developed. All these photoinitiators are eco-friendly and have virtually no impact on human health.

UV curable resins market has developed high growth prospects in 3D printing, digital printing, packaging, barrier films, and printed circuit applications. Automotive, architecture, medical, and several other industries are using 3D printing solutions to improve their design and manufacturing strategies. The 3D printing technology is expected to advance further in printers and printing methods, materials used in 3D printing, and software for designing and printing. All this directly affects the demand of the photoinitiators market.

Photoinitiators are the key to innovation in coatings, which have influenced the major trends in the coatings industry. The coating industry is largely influenced by stringent regulations set by authorities, including the European Union (EU), for reducing the VOC content from coatings, adhesives and inks. Consequently, the demand has shifted from solvent-borne UV to environmentally friendly products, such as waterborne UV using photoinitiators.

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The demand for waterborne photoinitiators has witnessed substantial growth in the past five years owing to rapid technological developments. In addition to eliminating solvent emissions, photoinitiator-based UV curing formulations provide improved mechanical characteristics, and increased production efficiency, particularly, in the spray application. These benefits encourage end users to adopt photoinitiator-based UV technology for new applications.

[communicationblogs]

Low Temperature Coatings Market — Forecast(2024–2030)

Low temperature coating is widely used to apply coatings to valves, pipes, fittings and welds. They are mostly used in cold temperature conditions as they have the ability to cure down to 0°C. The increase in energy savings due to reduction in cure temperatures is boosting the growth of the market. The Low Temperature Coatings Market is experiencing a significant uptick due to the increasing demand for energy-efficient coatings. As sustainability becomes a focal point across industries, there’s a surge in the adoption of low-temperature cure coatings. These coatings not only reduce energy consumption during the curing process but also contribute to lowering greenhouse gas emissions. 

Industries such as construction, automotive, and aerospace are embracing this trend, driven by both environmental concerns and the need for cost-effective, energy-efficient coating solutions. A notable trend in the Low Temperature Coatings Market is the continuous evolution of low-temperature curing techniques. Manufacturers are investing in research and development to innovate coating processes that can cure effectively at lower temperatures, reducing energy requirements and enhancing application flexibility. Advanced formulations, such as UV-curable low-temperature coatings, are gaining traction for their ability to cure rapidly with minimal heat, opening new possibilities in coating sensitive substrates and expanding the range of applications in various industries.

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Report Coverage

The report: “Low Temperature Coatings Market — Forecast (2024–2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the low temperature coatings industry.

By Coating: Powder Based, Liquid Based.

By Chemistry: Polyester, Epoxy, Polyurethane, Acrylic resin, and Others.

By Application: Concrete, Portable water storage tanks, Fittings, Steel, Pipes, Valves, Wood, wheels, Grills, Bumpers, Roof racks, Exterior and Interior trims, Construction and Others.

By End Use: Automotive, Appliances, Furniture, Industrial, Heavy-Duty Equipment’s, and Others

By Geography: North America, South America, Europe, APAC, and RoW.

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Key Takeaways

Asia-Pacific dominates the low temperature coatings Market owing to increasing demand from growing automotive industry in the region.

 The use of environment friendly coating is driving the growth of the low temperature coatings market.

The longer and costlier drying and curing for large parts is hindering the growth of the low temperature coatings market.

By Chemistry — Segment Analysis

Acrylic segment held the largest share in the low temperature coatings market in 2023 as it is widely used in automotive industry. Acrylic formulations provide an ideal solution combining balanced performance, good weather resistance, and advantageous processing. Acrylic based coatings are tremendously versatile. They have low-cost and a broad performance range, from ultra-removable to ultra-high durability depending on the formulation. Due to this benefit, the application of low temperature coatings based on acrylics is increasing greatly in heavy-duty equipment’s. Epoxy segment is the second largest segment in low temperature coating market. Epoxy coatings are widely used due to their exceptional chemical resistance, low porosity, durability, and bond strength. Epoxy coating films are strongly resistant to most chemicals and make excellent anticorrosion coatings. They are one of the principal materials used to control corrosion in the cold environment.

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[tritonmarketresearchamey]

Wood Coatings Market: Trends & Opportunities 2024-2032

According to Triton Market Research, the Global Wood Coatings Market report is sectioned by Resin Type (Polyurethane, Nitrocellulose, Acrylic, Other Resin Types), Technology (Water-Borne, Powder Coatings, UV-cured, Solvent-Borne), Application (Furniture and Fixture, Cabinet, Doors and Window, Flooring, Deck), and Regional Outlook (Middle East and Africa, Europe, Asia-Pacific, North America, Latin America).

The report highlights the Market Summary, Industry Outlook, Porter’s Five Forces Analysis, Market Maturity Analysis, Supply Chain Analysis, Regulatory Framework, Key Buying Impact Analysis, Key Market Strategies, Market Drivers, Challenges, Opportunities, Analyst Perspective, Competitive Landscape, Research Methodology and scope, Global Market Size, Forecasts & Analysis (2024-2032).

Based on Triton’s research report, the global market for wood coatings is set to advance in value at a CAGR of 4.02% during the forecast period 2024-2032.

Wood coating serves a dual purpose: safeguarding and enhancing wood or wood-based structures. By shielding wooden surfaces, it bolsters their durability and utility. Simultaneously, it elevates their aesthetic appeal, contributing to effective product promotion.

Factors such as personalized solutions for flooring and furniture, the emergence of smart coating technology, and improved coating performance via nanotechnology, creates lucrative opportunities for the wood coatings market globally. Smart coatings offer an array of functionalities, such as self-healing, anti-fouling, and antimicrobial properties, enhancing the durability and performance of wood surfaces. This extends the lifespan of wood products and reduces maintenance costs. Moreover, smart coatings contribute to sustainability efforts by minimizing the need for frequent reapplications and replacements, thus reducing waste. With increasing environmental concerns and a growing emphasis on eco-friendly solutions, the adoption of smart coatings is set to escalate, driving market growth and innovation.

However, fluctuating raw material costs and competition from composite materials limit the overall development of the wood coatings market worldwide.

The Asia-Pacific region is set for the fastest growth in the coming years. One key driver is the region’s growing construction and furniture industries, particularly in countries like China, India, and Vietnam, where urbanization and rising disposable incomes have fueled demand for high-quality wood products. Additionally, there is a growing awareness and emphasis on environmental sustainability, leading to an increasing preference for eco-friendly coatings with low volatile organic compound (VOC) content. Moreover, technological advancements in coatings formulations, such as the development of water-based and UV-curable coatings, are gaining traction due to their superior performance and reduced environmental impact.

The renowned companies in the wood coatings market are Nippon Paint Holdings Co Ltd, Diamond Paints, PPG Industries Inc, Asian Paints, RPM International Inc, The Sherwin-Williams Company, BASF SE, Akzo Nobel NV, Axalta Coating Systems LLC, and Kansai Helios.

With evolving consumer preferences and stringent environmental regulations, barriers to entry remain significant, deterring potential newcomers. Established players continually innovate to maintain market share, investing in research and development to offer eco-friendly and high-performance coatings. Intense rivalry among existing competitors fuels pricing pressures and product differentiation strategies, compelling companies to enhance quality and expand distribution networks. Amidst these challenges, strategic alliances and mergers are common, reshaping the competitive landscape and fostering consolidation.

[psatalk]

Toyo Ink India to enhance adhesive production capacity

Toyo Ink India, a member of the Japan-based chemicals manufacturer artience group (formerly Toyo Ink Group), has announced plans to expand its production capacity for solvent-based adhesives at its manufacturing site in Gujarat, India. A new production facility will be built on-site at the Gujarat plant as part of expansion to meet rising local demand. The plant is slated to begin operations in April 2026 and will help to boost the Gujarat site’s adhesive capacity by 3.5 times its current output, the company said in a release.

In 2014, Toyo Ink India began importing adhesives from Japan and selling them to the local market for automotive interiors and has over the years expanded applications to home appliances and labels. In December 2021, a production operation was established in India, in Gujarat, enabling the company to more promptly respond to customer needs and to further grow its business. As demand from these markets grew, the capacity for adhesive production had become tight, leading to the decision to further invest in production to support current and future growth.

India ranks fifth in the world’s GDP rankings in 2024 and is expected to jump to the second spot in 20 years’ time. Accordingly, industrial adhesive demand in the country is projected to rise due to growing sales of new automobiles as a result of urbanization and a shift to nuclear families, as well as the rapid growth of consumer electronics market.

"Toyo Ink India is on track to become the top solvent-based adhesive manufacturer in India, with a targeted market share of 30% in 2026,” said Naotoshi Nakamura, chairman of Toyo Ink India. “In line with the artience group’s global strategy, we are working to expand adhesives applications to the healthcare and other fields, while positioning India as an export hub to the Middle East and Africa, regions where economic growth is expected in the future.”

Established in 2007 in Delhi, Toyo Ink, a subsidiary of Japan’s artience group, is a leading single-source provider of integrated packaging and printing solutions. It offers a comprehensive portfolio of inks, coatings, color materials and other printing solutions for a wide range of industrial markets. 

The core products include conventional offset inks, UV-curable inks including LED-UV systems, flexographic inks, gravure inks, solvent-free lamination adhesives, inkjet inks, polyurethane resins, color masterbatches, pressure-sensitive adhesives and many more to come.

[swaras-world]

Navigating the Future: Wireless Printer Market Trends, Size, and COVID-19 Impact Analysis (2023-2031)

Introduction:

 The global wireless printer market is poised for a transformative journey from 2023 to 2031, marked by significant strides in resin technology, diverse applications, cutting-edge printing technologies, and a resilient response to the COVID-19 pandemic. This article unveils the market's key dimensions, shedding light on its size, share, and the profound impact of the ongoing global health crisis.

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Market Overview:

The wireless printer market stands at the crossroads of innovation, with resin types at the forefront of this evolution. Resins, once considered a peripheral factor, are now pivotal in shaping the market's trajectory, influencing printing capabilities, and driving sustainability efforts.

Resin Types:

Witness a paradigm shift as eco-friendly alternatives gain prominence, aligning with global sustainability goals. UV-curable and water-based resins emerge as frontrunners, responding to environmental concerns and reducing volatile organic compound (VOC) emissions.

Applications:

The applications of wireless printers are diversifying across a spectrum of industries, including:

Corporate and home offices

Educational institutions

Healthcare facilities

Manufacturing units

Technology Trends:

Cloud printing emerges as a game-changer, facilitating seamless document processing and enabling printing from virtually anywhere. Artificial intelligence (AI) integration enhances printer efficiency, predicts maintenance needs, and fortifies security features.

End-Use Industries:

The wireless printer market finds resonance across a multitude of industries:

Manufacturing witnesses increased efficiency through wireless printing solutions.

Healthcare adopts advanced printing technologies for precise medical imaging.

Education benefits from the flexibility of wireless printing in diverse learning environments.

Retail experiences streamlined operations through innovative printing solutions.

BFSI (Banking, Financial Services, and Insurance) sectors enhance document security and operational efficiency.

Regional Dynamics:

Asia-Pacific emerges as a key growth hub, fuel by technological advancements and an increasing demand for efficient printing solutions. North America and Europe continue to lead the market, emphasizing sustainability and the rapid adoption of advanced printing technologies.

COVID-19 Impact Analysis:

The COVID-19 pandemic has been a catalyst for change, accelerating the adoption of wireless printing solutions. With remote work becoming the norm, businesses and individuals alike sought efficient, reliable, and secure printing options, resulting in a substantial surge in demand for wireless printers.

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Future Outlook:

 As we look ahead to 2031, the wireless printer market is positioned for sustained growth. Advances in resin technology, coupled with innovative applications and a commitment to sustainability, will continue to propel the market forward.

[delvenservices]

Paints and Coatings Market Size, Share, Growth Rate & Outlook: 2028

Paints and Coatings Market is segmented by Resin (Architectural Resins and Other Resins), Technology (Water-borne, Solvent-borne, Powder Coating, and UV-cured Coating), End-user Industry (Architectural, Automotive, Wood, Protective Coating, General Industrial, Transportation, and Packaging), and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

The global paints and coatings market size were valued at USD 162,468.23 million in 2020, and the market is projected to register a CAGR of over 4.1% during the forecast period 2021-2028.

Paint is any pigmented liquid, liquefiable, or solid mastic composition that, after application to a substrate in a thin layer, converts to a solid film. It is most commonly used to protect, color, or provide texture to objects. Paint can be made or purchased in many colors—and in many different types, such as watercolor or synthetic.

The wood, automobile & transportation, and construction sectors all make extensive use of paints and coatings. They are widely employed in the building and construction sector to shield structures from any damage from the outside. Additionally, the product is applied in a number of ways to decorate infrastructure and buildings, both residential and non-residential, as well as industrial machinery, automobiles and boats, industrial wood, and other things.

The rise in demand from end-use industries is a major driver propelling the paints & coatings industry. The residential end-use sector in the APAC region is anticipated to grow throughout the anticipated period, which will enhance demand for paints and coatings.

While customers prefer eco-friendly products, research and development for eco-friendly paints has contributed to increase demand. The use of low-VOC and environmentally friendly technologies, such as water-based coatings, powder coatings, and UV curable coatings, is becoming more and more popular in the paints and coatings sector. Rising feedstock prices and erratic availability are further characteristics of solvent-based paints and coatings. Architectural coatings frequently use water-based coatings.

The largest market segment is the residential end-use industry. The increase in urbanization and population is expected to cause the building and construction sector to expand quickly during the next years. Numerous new homes have been built as a consequence of economic expansion and rising earnings in recent years, and the refurbishment of older homes has contributed to increase demand.

Following the epidemic, there has been a spike in demand for automobiles, which has contributed to an increase in demand for paint and coatings.

The paint and coatings industry's supply chain has been hampered by the COVID 19 outbreak. Businesses are focusing on controlling the orders. Inventory levels and shipments in transit in the midst of the epidemic.

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Regional Analysis

Asia-Pacific dominated the market across the world, with the largest consumption from countries such as China, India, and Japan.

Key Players

The Sherwin-Williams Company

PPG Industries Inc.

Akzo Nobel Nv

Nippon Paint Holdings Co. Ltd

Rpm International Inc.

Tikkurila Oyj

Hempel A/S

Berger Paints India Limited

Shalimar Paints

Masco Corporation

BASF Coatings GmbH

Beckers Group

Dunn-Edwards Corporation

Tiger Coatings Gmbh & Co. Kg

Sacal International Group Ltd.

Diamond Vogel Paint Company

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Recent Developments

In December 2020, PPG Industries bought 9% shares of Tikkurila, and it is planning to completely acquire the company by March 2021.

In April 2020, Akzo Nobel NV completed the acquisition of Mauvilac, a paints and coatings firm, to expand its presence in Sub-Saharan Africa.

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Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors

Gain authentic and granular data access for Paints & Coatings Market so as to understand the trends and the factors involved behind changing market situations

Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future

In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

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Report Scope

Increased business activity and increased automotive demand are what are driving the North American paint and coating industry.

Paints & Coatings Market is segmented into resin, technology, end user and region.

On the basis of Resin

Architectural resin

Other resin

On the basis of Technology  

Water borne

Solvent borne

Powder solvent

UV cured coating

On the basis of End-User  

Architectural

Automotive

Wood

Protective Coating

General Industrial

Transportation

On the basis of Region

Asia Pacific

North America

Europe

South America

Middle East & Africa

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Delvens is a strategic advisory and consulting company headquartered in New Delhi, India. The company holds expertise in providing syndicated research reports, customized research reports and consulting services. Delvens qualitative and quantitative data is highly utilized by each level from niche to major markets, serving more than 1K prominent companies by assuring to provide the information on country, regional and global business environment. We have a database for more than 45 industries in more than 115+ major countries globally.

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[chemicalresearchupdates]

Ultraviolet Uv Curable Resins Market CAGR Status, Emerging Trends and Forecast till 2030

The UV-curable resins market is a growing segment of the chemical industry, driven by the demand for high-performance coatings, adhesives, and inks. UV-curable resins are a class of polymers that can be cured using ultraviolet light. They offer several advantages over traditional solvent-based systems, such as faster curing times, lower VOC emissions, and improved durability.

Market Size and Growth

The global UV-curable resins market size was valued at USD 3.3 billion in 2020 and is projected to reach USD 6.5 billion by 2025, at a CAGR of 14.0% from 2020 to 2025. The market growth is driven by the increasing demand for environmentally friendly coatings, the growing adoption of UV-curable resins in 3D printing, and the rising demand for high-performance adhesives and coatings in various industries.

Product Types

The UV-curable resins market can be segmented based on product type into:

Acrylated Epoxies

Acrylated Polyesters

Acrylated Urethanes

Acrylated Silicones

Others (includes methacrylates, vinyl ethers, and cationic resins)

Acrylated epoxies are the largest product segment, accounting for the majority of the market share. Acrylated polyesters and acrylated urethanes are also significant product segments due to their excellent adhesion and chemical resistance properties.

Applications

The UV-curable resins market can be segmented based on application into:

Coatings

Adhesives

Inks

Others (includes 3D printing, electronics, and composites)

Coatings are the largest application segment due to the increasing demand for high-performance coatings in various industries, such as automotive, aerospace, and construction. UV-curable coatings offer several advantages, such as faster curing times, higher durability, and lower VOC emissions. Adhesives are also a significant application segment due to the increasing demand for high-performance adhesives in various industries, such as automotive, construction, and electronics.

Regional Analysis

The UV-curable resins market can be segmented based on region into:

North America

Europe

Asia Pacific

Middle East & Africa

South America

Asia Pacific is the largest market for UV-curable resins, accounting for the majority of the market share. The market growth in the region is driven by the increasing demand for high-performance coatings, adhesives, and inks in various industries, such as automotive, construction, and electronics. North America and Europe are also significant markets for UV-curable resins due to the increasing demand for environmentally friendly coatings and adhesives in these regions.

Key Players

The UV-curable resins market is highly competitive, with several players operating in the market. Some of the key players in the market include:

BASF SE

Allnex Belgium SA/NV

DSM-AGI Corporation

Nippon Gohsei

IGM Resins BV

Covestro AG

Hitachi Chemical Co., Ltd.

Toyo Ink SC Holdings Co., Ltd.

Eternal Materials Co., Ltd.

Miwon Specialty Chemical Co., Ltd.

Conclusion

The UV-curable resins market is a growing segment of the chemical industry, driven by the increasing demand for high-performance coatings, adhesives, and inks. The market is expected to grow at a significant rate in the coming years due to the increasing demand for environmentally friendly coatings and adhesives and the growing adoption

[researchexpert]

The global UV curable resins and formulated products market size is expected to grow from USD 4.6 billion in 2021 to USD 7.3 billion by 2026, projecting a CAGR of 9.7% during the forecast period between 2021 and 2026.

[vynzresearch2reportindustry]

Global    Worth $7.6 Billion by 2027

The Global UV Curable Resins and Formulated Products Market is projected to reach USD 7.6 billion by 2027, witnessing a CAGR of 9.8% during the forecast period 2021-2027.

To assist companies in developing their business plans, the research examines the major factors influencing the growth of the Global UV Curable Resins and Formulated Products Market, also including Drivers, Constraints, Governmental Policies, Opportunities, Challenges, a Constructive Approach, and Market Economic Expansion Strategies.

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[latestanalysis]

Global UV-Curable Resin Market Size , Statistics, Growth Opportunity, Industry Analysis and Region Analysis Forecast till 2027

Global UV-Curable Resin Market

The UV-curable resins are defined as the cured and polymerized resins which used as raw materials in bonding, sealing, and coating. They find their major application in Printing, Coating, Adhesives & sealants, and others. The UV-curable resins provide enhanced chemical resistance, good workability, and fast curing time.

Market Drivers

The increase in consumption in various end use industries including automotive, graphics, industrial, and wood coating is expected to boost the global UV-curable resins market growth. Furthermore, the rise in demand for eco-friendly curable resins will positively influence the market growth. Also, continuous technological developments along with low-cost manufacturing equipment expected to fuel the global UV-curable resins market growth. The advanced technologies have given ease in the manufacturing process. The increase in emphasis on safe, sustainable, odor-free and green materials by various regulatory authorities across the world has resulted in the raise in need of these products. In addition, growing environmental concerns, and stringent regulations regarding the use of plastic products will support the growth of UV-curable resin market in near future.

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Market Restraints

High initial capital cost is the major restraint which expected to hamper the global UV-Curable resin market growth. Also, the finishing defects caused by incomplete drying may limit the global UV-Curable resin market growth.

Market Segmentation

The Global UV-Curable Resin Market is segmented into resin type such as Acrylated Epoxies, Acrylated Polysters, Acrylated Urethanes, Acrylated Silicones, and Others, by composition such as Monomers, Photoinitiators, Oligomers, and Coinitiators. Further, market is segmented into application such as Printing, Coating, Adhesives & sealants, and others.

Also, Global UV-Curable Resin Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Market Key Players

Some key operating players are discussed in this report such as BASF SE, Allnex, Arkema Group, Covestro AG, DIC CORPORATION, DSM, Eternal Materials Co.,Ltd., Dymax Corporation, IGM Resins, Nippon-Gohsei, SOLTECH LTD., etc.

Market Taxonomy

By Resin Type

Acrylated Epoxies

Acrylated Polyesters

Acrylated Urethanes

Acrylated Silicones

Others

By Composition

Monomers

Photoinitiators

Oligomers

Coinitiators

By Application

Printing

Coating

Adhesives & sealants

Others

By Region

North America

Latin America

Europe

Asia Pacific

Middle East & Africa

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QualiKet Research is a leading Market Research and Competitive Intelligence partner helping leaders across the world to develop robust strategy and stay ahead for evolution by providing actionable insights about ever changing market scenario, competition and customers. QualiKet Research is dedicated to enhancing the ability of faster decision making by providing timely and scalable intelligence. We use different intelligence tools to come up with evidence that showcases the threats and opportunities which helps our clients outperform their competition.

[chemicalsmarketreport]

How is Growing Use of Environment-Friendly Industrial Coatings Driving UV Curable Resins Market?

The utilization of environment-friendly industrial coatings is increasing rapidly as the consumers are becoming more aware regarding the side-effects of traditional coating solutions. Conventional inks, coatings, and adhesives contain hydrocarbon solvents, which are released in the atmosphere during the process of curing. These hydrocarbons have volatile organic compounds (VOC) that are carcinogenic in nature and cause severe health problems. Because of this, governments of different countries have started implementing strict norms in order to control the release of VOCs in the environment. Since ultraviolet curable products do not release VOCs and have comparatively less impact on the environment, their demand is increasing.

UV curing, a subset of radiation/energy curing, involves the usage of a light source for curing different products such as adhesives, coatings, and inks. According to a report by P&S Intelligence, in 2017, the global UV curable resins market generated a revenue of $3,473.9 billion and is projected to attain $5,403.9 million in 2023, advancing at a 7.7% CAGR during the forecast period (2018–2023). The different formulations of UV curable resins include monomers, oligomers, and photoinitiators. Some other formulations include pigments and additives. Among these, the highest demand was created for oligomers during 2013–2017 and the situation is projected to remain the same in the coming years as well.

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The end users of UV curable resins include electronics, industrial coatings, and graphic arts. Some other applications include mining, aerospace, and defense. Out of these, the highest requirement for UV curable resins was created by the industrial coatings’ category during 2013–2017, and the application is further predicted to retain its position during the forecast period. This is because of the extensive usage of UV curable resins in various industries, such as automotive, wood & paper, metal, and plastic. The fastest growth is demand is expected to be witnessed by the electronics category.

The rising demand for UV curable inks for packaging applications is a driving factor of the UV curable resins market. As mentioned earlier, UV curable inks have zero emissions and are safe, which is why the packaging industry is increasingly adopting them. In addition to this, UV curable inks are approved by the Food and Drug Administration, due to which they are also being utilized in the pharmaceuticals and food & beverage industries. Manufacturers are focusing on providing quality packaging at a lower price, which is further driving the demand for UV resins. In addition to this, the expanding packaging industry in countries including India and China is further creating growing requirement for these inks.

Among the different regions, namely Asia-Pacific (APAC), North America, Europe, and rest of the World, the APAC region created the largest demand for UV curable resins during 2013–2017 and is further expected to witness the fastest growth in demand for these products during the forecast period. The reasons for this are the growing implementation of strict VOC emission norms, surging consumer awareness and environmental concerns, and rising requirement from the electronics sector. In the region, China created the largest demand for UV curable resins during 2013–2017.

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UV Curable Resins Market Research, Growth Opportunities, Analysis And Demand Forecast to 2023

Global UV curable resins market is projected to reach $5,403.9 million by 2023, the market growth is mainly driven by increasing preference for environment-friendly coatings in different industries such as electronics and automotive.

Based on formulation, the UV curable resins market is categorized into oligomers, monomers, photoinitiators, and others (additives and pigments. Of these, oligomers is expected to be the fastest growing category in the market, advancing at respective volume and value CAGRs of 7.2% and 8.1% during the forecast period.

On the basis of application, the UV curable resins market is categorized into coatings, inks, adhesives, and others (masking materials, filling materials, soldering materials, and staping motor protective layers). Coatings was the largest application area in the market, accounting for more than 45 .0% revenue in 2017.

During the forecast period, the fastest growth in volume sales of these resins is expected in Asia-Pacific (APAC), with a CAGR of 7.9%. Countries such as China, India, and Indonesia are some of the leading APAC nations which have a fast-growing construction industry.

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Some of the major players operating in the global UV curable resins market are BASF SE, Toagosei Co. Ltd., Koninklijke DSM N.V, he Nippon Synthetic Chemical Industry Co. Ltd., Covestro AG, Wanhua Chemical Group Co. Ltd., Miwon Specialty Chemical Co. Ltd., Hitachi Ltd., Arkema Group, and DIC Corporation.

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Ultraviolet Curable Resins Market Size Was USD 2.21 Billion In 2015 And Is Expected To Reach $4.67 Billion By 2024: Grand View Research, Inc.

The global ultraviolet (UV) curable resins market is expected to reach USD 4.67 billion, according to a new report by Grand View Research, Inc. Rise in the industrial sector especially in Asia Pacific is one of the major driving factors for the growth of UV curable resins market.

Increasing concern regarding growing VOC emissions has resulted in the development of new low emission products. UV curable resins emit minimal to zero VOCs and are not volatile in nature. These resins produce less shrinkage, the line of sight curing and provide many advantages over traditional methods. Development of renewable raw materials for manufacturing these curable resins is anticipated to drive the market.

UV curable resins are widely used in wood coatings, graphics art, automotive and industrial application. With the increase in industrialization across the globe, there is a surge in the demand for eco-friendly products. Manufacturing companies across the world are focusing and investing in R&D activities for the innovation of new technologies to produce environmental - friendly products.

Ultraviolet curable resins in industrial application are expected to be the fastest-growing segment and are anticipated to hold over 40% of the total demand by 2024. Growth in the construction and electronics & electrical industry particularly in emerging markets of Asia Pacific & Latin American is expected to drive the UV curable resins demand in industrial segment.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/uv-curable-resins-market

Further key findings from the report suggest:

·         The global ultraviolet curable resins market demand was 465.9 kilo tons in 2015 and is expected to exceed 1 million tons by 2024, growing at a CAGR of 9.2% from 2016 to 2024

·         In 2015, monomers held the largest market and were worth over USD 1.00 billion. Monomers are the major components in manufacturing UV curable resins which are further used in coatings, adhesives, and inks.

·         Photoinitiators are expected to witness the fastest growth rate over the next eight years. The companies are trying to develop new photoinitiators for manufacturing curable resins and expand the breadth of objects to be cured.

·         In 2015, North America was the largest market and accounted for 32.1% of total market volume in 2015. The huge investment in R&D for new photoinitiators technology development in the U.S. is the major factor for the regional industry growth.

·         Asia Pacific is expected to be the fastest growing market over the next eight years. The region has been witnessing a remarkable growth in the construction and electrical & electronics industry, especially in India, Indonesia, Thailand, South Korea and other countries in the region. The growth in these industries is the major factor in the rising demand for these curable resins in the region.

·         Key companies in the industry include BASF SE, Covestro AG, The Nippon Synthetic Chemical Industry Co., Ltd, Allnex Belgium SA/NV, Hitachi Chemical Co., Ltd, IGM Resins B.V., Eternal Materials Co., Ltd., Sartomer, Jiangsu Sanmu Group Corporation, DSM N.V, SolTech Ltd., and Toagosei Co., Ltd.

Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/plastics-polymers-and-resins

Grand View Research has segmented the ultraviolet (UV) curable resins market on the basis composition, application and region:

Composition Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)

Monomers

Oligimers

Photoinitiators

Others

Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)

Wood Coating

Graphics Art

Industrial

Automotive

Others

Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)

 U.S.

 Germany

 France

 UK

 Italy

 Netherlands

 China

 India

 Japan

 South Korea

 Brazil

 Kuwait

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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UV Curable Resins and Formulated Products Market 2022-2028

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Global UV Curable Resins and Formulated Products Market size at USD 4.85 billion in 2021. During the forecast period between 2022 and 2028, BlueWeave expects the size of global UV curable resins and formulated market to grow at a CAGR of 10.5% reaching a value of USD 9.73 billion by 2028. Ultraviolet (UV) curable resins are materials that cure and polymerize using energy from UV devices. When UV light is applied to inks, adhesives, and coatings, the technology allows for instant drying and curing via photopolymerization. Due to the expanding applications and use in numerous fields, including coatings, overprint varnishes, printing inks, adhesives, and others, the demand for UV curable resins and specially formulated products is expected to rise. However, high cost of setup could limit the market growth.

Global UV Curable Resins and Formulated Products Market – Overview

Polymerized substances with the help of energy that is extracted and then radiated from irradiation devices providing ultraviolet (UV) rays, UV curable resins and formulated products are quickly cured. Most industrial materials use UV-curable resins and specially formulated products for coating, bonding, and sealing. They are also utilized by the paint and coatings industry in addition to ink and adhesive industries. For curing and quick drying, UV curable resins and specially formulated products are thought to be the best option. During forecast period of 2022 to 2028, global market for UV curable resins and formulated products is expected to grow due to rising demand for these products.

The increased awareness about safety and use of UV resins, health regulations, and guidelines related to use of UV cured resins have all contributed to market growth. Use of UV cure resins and formulated products have grown in popularity in recent years. Certain benefits and advantages include less energy consumption, less equipment space, less VOC released, good flexibility, minimal heat and emission released, curing at low temperatures, and high output and efficiency. The unique feature of resin is coated on UV and having the ability to be applied on virtually any substrate, such as plastic, metal, and composites is the main factor responsible for the market growth.

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Global UV Curable Resins and Formulated Products Market – Technology Advancements

Global UV curable resins and formulated products market has been divided into Monomer, Oligomers, Photoinitiators, and Additives based on the composition; into Non-Acrylated Oligomers, and Acrylate Oligomers based on the chemistry; and as Coatings, Overprint Varnish, Printing Inks, Adhesives, 3D Printing, and Others based on the technology. Currently, coatings under the technology category dominate the market, accounting for a majority of share.

Technology advancements are also propelling the market growth. Sartomer, an Arkema subsidiary business unit, introduced innovative resin solutions that advance UV/EB curing performance for 3D printing, graphic arts, coatings, electronics, and personal care applications at the RadTech UV+EB 2020 Technology Expo and Conference in February 2020. Sartomer will also release three new N3xt Dimensions engineered resins for UV curable 3D printing.  Moreover, working with waterborne products allows one to create Zero VOV lacquers for spraying applications due to their chemical resistance and quick curing efficiency. 3D printing, digital printing, and printed circuit applications are examples of opportunities that are expected to boost the market growth.

Impact of COVID 19 on Global UV Curable Resins and Formulated Products Market

COVID-19 affected global demand for UV curable resins and formulated products due to a drop in end-use applications. COVID-19 disrupted the UV curable resins value chain beginning in 2020. The pandemic had a significant impact on China, which ordered the closure of 21 provinces. Wuhan and Hubei provinces, which are major industrial and commercial hubs, were placed under lockdown. This had an effect on the supply chain for UV curable resins and formulated products. The pandemic later spread to Europe and North America. Because many countries were locked down, the workforce could not be deployed in manufacturing facilities. Demand from various applications decreased as a result of strict lockdown regulations. However, with relaxations on pandemic induced restrictions in place, the market is expected to be back on its growth trend.

Competitive Landscape

Prominent players in global UV curable resins and formulated products market include Allnex Group, Wanhua Chemical Group Co., Ltd., Arkema SA, Showa Denko Materials Co., Ltd., Royal DSM, GM Resins, Covestro AG, Nippon Gohsei, Hitachi Chemical Company Ltd., IGM Resins B.V., Toagosei Co. Ltd., Miwon Specialty Chemical Co. Ltd., BASF SE, Double Bond Chemical Ind. Co. Ltd., Jiangsu Sanmu Group Corporation, and Alberdingk Boley GmbH. These companies use R&D, expansions, acquisitions, and new product releases to improve their market position.

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Growing awareness, environmental concerns, and stringent regulations to drive the UV Curable Resins and Formulated Products Market