UV Curable Resins and Formulated Products Market: Arkema SA (France), Allnex Group (Germany), Toagosei Co. Ltd. (Japan), BASF SE (Germany), Royal DSM N.V. (Netherlands), Covestro AG (Germany), Nippon Gohsei (Japan), Hitachi Chemical Company Ltd. (Japan)
Synopsis of UV curable resins Market
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UV curable resins are a class of resins that extensively helps in curing radiations of materials such as coatings, inks, and adhesives among others. UV curable resins are free-from organic solvents and include monomers, co-initiators, oligomers, and variety of additives such as antioxidants, pigments, stabilizers, and plasticizers. These resins are ideal for applications that require fast drying and instant curing.
The demand from the end use industries is a major factor driving the growth of the global UV curable resins market. Some of the major applications of UV curable resins include wood and paper coatings, plastic coatings, and adhesives among others. The growing industrialization and urbanization in the developing regions throughout the globe is expected to boost the market during the forecast years. The global market for UV curable resins is a lucrative market is expected to expand at an encouraging CAGR during the forecast years. The low cost, productivity, durability and low maintenance make it ideal for the many end-user industries, which is a major factor driving the market growth positively.
Among the various composition type in UV curable resins market, the photoinitiators are the fastest growing segment and are anticipated to witness the same trend over the forecast period. This growth is attributed the growing advancement in the photoinitiators technology and the innovations of new resins. The monomer composition segment is the dominant segment and is expected to dominate during the forecast years. The growing demand for various applications such as coatings, adhesives and inks among others. Oligomers is expected to have a moderate growth during the assessment period.
Among the applications, the Industrial segment is expected to be the largest segment and is expected to grow at a considerable CAGR. The growing usage of packaging, electrical and electronics, and adhesives are expected to the major contributor to the growth of the market.
The UV curable resins market is segmented across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market and is expected to be the dominant market at a healthy CAGR during the forecast period. The rapid growth of industries and urbanization is fuelling the growth of the UV curable resins market in the developing countries of Asia Pacific. Moreover, the favorable government regulation in the region has attracted many industry players to enter the lucrative market of Asia Pacific, which, in turn, is fuelling the market growth. Furthermore, the presence of most populated countries such as India and China has augmented the construction and automobile sector, which is further contributing to the market growth. China, India, and Japan are the largest consumer of UV curable resins in this region. North America is another dominant region in the market. The developed end-user industries such as construction, transportation, and electronics among others are significantly driving the market growth. Moreover, the newly elected government has brought in a new wave of investment in development and renovation of residential and commercial infrastructure, which is expected to boost the demand for UV curable resins in the construction industry.
Europe is a lucrative market, whose growth is driven by the developed electrical & electronics, construction, and automobile sector. Moreover, the stringent environmental regulations regarding the VOC content coupled with the increasing infrastructural development are the major factor attributing to the growth of the market. Additionally, the growing technological advancement in the region further augmented the use of UV curable resins.
The global UV curable resins market is segmented into composition and application. On the basis of composition, the market is segmented into oligomers, monomers, photoinitiators, and additives. On the basis of application, the global UV curable resins market is segmented into wood and paper coatings, plastic coatings, metal coatings, overprint varnish, printing inks, adhesives, 3D printing, industrial, automotive, and other applications.
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Some of the prominent players operating in the Global UV curable resins market are Arkema SA (France), Allnex Group (Germany), Toagosei Co. Ltd. (Japan), BASF SE (Germany), Royal DSM N.V. (Netherlands), Covestro AG (Germany), Nippon Gohsei (Japan), Hitachi Chemical Company Ltd. (Japan), IGM Resins B.V. (Netherlands), and Miwon Specialty Chemical Co. Ltd (South Korea). Geographical Analysis
The report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
UV curable resins market manufacturers
Traders and Distributors of UV curable resins market
Production Process Industries
Raw Material Suppliers
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