Global UV Curable Resins Market: Mainly Propelled by High Performance of UV Curable Resins
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The global UV curable resins market is primarily driven by increasing demand for green coatings
Increasing demand for green coatings, high performance of UV curable resins, and rising implementation of these resins in the industrial and electronic coating segment are the major UV curable resins market trends. However, huge setting-up cost may act as the major restraint for the UV curable resins market growth. Further, rising demand from several end-user industries including industrial coatings, graphic arts, and electronics is expected to generate lucrative growth prospects for the market in the forecast timeframe.
End-use, application, and geography are the segments of the global UV curable resins market. Segmentation by end-use comprises graphic arts, electronics, industrial coatings, and other end-uses. Furthermore, the application segment includes adhesives, coatings, inks, and other applications.
Geographically, the market has been bifurcated into North America, Europe, Asia-Pacific, and RoW. North America (U.S., Mexico, and Canada), Europe (Russia, Germany, UK, France, and Rest of Europe), Asia-Pacific (Singapore, China, South Korea, Japan, and Rest of Asia-Pacific) and RoW (Middle East, South America, and Africa) are the key geographical regions included in this market.
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Based on end-use, industrial coatings occupied the majority of the UV curable resins market share in 2016
Industrial coatings sub-segment accounted for one third of the end-use segment in the year 2016. The high growth of the sub-segment is driven by their uses for corrosion control of steel & concrete, and protective and functional properties.
Coatings by application accounted for the leading market share in 2016
Coatings dominated for about two third of the application segment in the year 2016 and is expected to continue its trend in the forecast period. Ongoing green trend and increasing applications of coatings worldwide has boosted the growth of the coatings segment.
Asia-Pacific led the global UV curable resins market in 2016
On the basis of geography, Asia-Pacific dominated the global market with highest market share in the year 2017 and is expected to continue its trend during the forecast period. The factors driving the growth of the region include rapid industrialization and rising demand for flexible packaging in economies such as South Korea, Japan, China, and Taiwan
Key players profiled in the report include BASF SE, Alberdingk Boley GmbH, Allnex Group, IGM Resins B.V., Wanhua Chemical Group Co., Ltd., Nippon Synthetic Chemical Industry Co., Ltd., Miwon Specialty Chemical Co., Ltd., Covestro AG, SolTech Ltd., and Eternal Materials Co., Ltd., among others.
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Scope of the Global UV Curable Resins Market
• Other Applications
• Industrial Coatings
• Graphic Arts
• Other End-Users
• North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
o South America
o Middle East
About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfil clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise is data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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