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Global UV Curable Resin Market Study Analysis: Green and Environmentally Friendly Paint And Coatings Are In High Demand
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Global UV Curable Resin Drivers And Restrain:
The major factors that have impacted the growth of the UV curable resin market are the rising demand for an environmental-friendly coating that is encouraging the use of UV curable resin, growing application in end-use industries due to the properties of UV curable resin, and among others.
Rising Demand for environmental-friendly coating:
The conventional adhesives, coatings, and inks contain hydrocarbon substances that release hydrocarbons into the atmosphere. Hydrocarbon has a negative effect on the environment as the hydrocarbon released has VOC which contributes to air pollution and serious health problems. The UV radiated adhesives, coatings and ink do not have any adverse effect on the environment as they do not contain any organic solution. that’s why they are emerging as alternatives to conventional products. The rising concerns towards environmental health are expected to supplement the UV curable resin market growth.
Growing applications in end-use industries:
The various end-use industries such as graphic art, automotive, metal packaging, construction, electronics are now implementing UV curable resin solutions due to their low cost, higher productivity, durability, and low maintenance. The instant drying properties of UV curable resin ink have found their application in packaging industries such as food and beverages. The automotive and construction are using UV curable resin adhesive as they are chemically cured and have resistance towards chemical corrosion and heat and also possess flexible bonding properties that provide stronger bonds among substances. Furthermore, the governments are also establishing norms to reduce VOC emission which is encouraging industries to adopt sustainable and green materials for various industrial operations.
The market may be hampered by limited light penetration depth and fluctuating raw material prices.
Impact Of COVID-19 on the UV Curable Resin Market:
• Impact on Market Size
• End-User Trend, Preferences, and Budget Impact
• Regulatory Framework/Government Policies
• Key Players Strategy to Tackle Negative Impact
• Opportunity Window
Global UV Curable Resin Market Segments:
The global UV Curable Resin market is further segmented into chemical, application, composition, end-users, and geography.
By Chemical: Acrylate and Non-Acrylate
By Application: Coating, Packaging, Printing, Adhesives, Sealants, and Others
By Composition: Oligomers, Monomers, Photoinitiators, and Additives) By End User (Industrial Coatings, Graphic Arts, Electronics, and others
By End User: Industrial Coatings, Graphic Arts, Electronics, and others
Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
• Rest of the World (the Middle East & Africa and South America)
North America is expected to show significant growth in UV curable resin market rate owing to increased initiatives and investments for implementing green technology and growth in the processed food industry. Europe is anticipated to witness higher growth in the UV curable resin market due to the presence of developed electronics, construction, and automotive industries. Moreover, the increased concerns towards VOC emission and stringent regulations from the government for VOC emission are estimated to drive the UV curable resin market. Asia-Pacific is anticipated to dominate the UV curable resin market due to the developing industries such as paints & coating, construction, electrical & electronics, and automotive. Rapid industrialization is also expected to drive market growth in this region.
Key Players of Global UV Curable Resin Market:
• Arkema
• Allnex
• Toagosei
• BASF
• Royal DSM
• Dymax
• Nippon Gohsei
• Hitachi Chemical Company
• IGM Resins
• Miwon Specialty Chemicals
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Key Questioned Answered Through The Report:
• The Impact of COVID-19 on the global market
• What are the potential opportunities for new entrants in the global market
• What is the market Size and Forecast from 2020 to 2028?
• Key Players associated with the global UV Curable Resin Market
• Value Chain Analysis of Global UV Curable Resin Market
• What is the CAGR of the Global UV Curable Resin Market from 2021 to 2028
• Major Growth Factor, Challenges, Trends, and Opportunities in the global market
• Key outcomes of SWOT Analysis
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Evolve Business Intelligence is market research, business intelligence, and advising service that offers creative solutions to a company's problems. Data beneficial to micro, small, medium, and large-scale businesses can be found in our market research studies. We offer a wide range of services, from data collection to business consulting.
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