UV Curable Resin Market Analysis Comparative Studies of Key Sectors

Allied Market Research recently published a comprehensive report titled, "UV Curable Resin Market by Resin Type and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026." According to the report, the global UV curable resin industry generated $4.74 billion in 2018 and is projected to reach $9.76 billion by 2026, with a compound annual growth rate (CAGR) of 9.4% from 2019 to 2026.

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Market Dynamics

- Drivers: The surge in demand for environment-friendly paints and coatings, particularly in architectural applications, drives market growth.

- Restraints: Fluctuations in raw material prices and limitations in light penetration depth pose challenges.
Opportunities: Stringent green regulations and initiatives present new growth opportunities.

Market Segmentation

By Resin Type

Acrylated Epoxies: This segment held over one-third of the market share in 2018 due to high cure rates and excellent adhesion performance attributed to polar hydroxyl and ether groups in the epoxy structure. It is expected to maintain dominance throughout the forecast period.

Acrylated Urethanes: Expected to grow at the highest CAGR of 10.3% from 2019 to 2026, driven by superior performance on various substrates, excellent film hardness, elasticity, cure speed, and durability.

By Application

Coatings: This segment accounted for nearly one-third of the market share in 2018, driven by the demand for zero VOC content and extensive use in dispersants, wetting agents, driers, defoamers, powder coating additives, dearators, and flow & leveling agents.

Printing: Projected to register the highest CAGR of 11.0% from 2019 to 2026 due to the rise in novel printing technologies like inkjet, offering significant technical advantages.

Regional Analysis

Asia-Pacific: Held over one-third of the global market share in 2018, followed by North America. Asia-Pacific is anticipated to maintain dominance and register the highest CAGR of 10.6% from 2019 to 2026, driven by the booming paints and coatings industry and increased usage in the automotive sector.

Key Market Players

- Hitachi Chemical
- DSM-AGI
- BASF SE
- Allnex Belgium S.A.
- Jiangsu Litian Technology
- IGM
- Sartomer
- Dymax
- Miwon Specialty Chemical
- Eternal Materials
- Jiangsu Sanmu Group

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