Press release
Ultraviolet Curable Resin Market to Reach US$ 10.4 Bn by 2031 with 6.9% CAGR Driven by Demand in Coatings and Electronics
Ultraviolet Curable Resin Market
The ultraviolet (UV) curable resin market is experiencing steady growth due to its widespread use in coatings, inks, adhesives, and 3D printing. These resins offer rapid curing, low environmental impact, and superior chemical resistance compared to conventional curing systems. The market's expansion is driven by industries seeking cost-effective, durable, and eco-friendly materials. Increasing adoption in electronics, wood coatings, and packaging sectors highlights its versatility. The growing shift toward green manufacturing practices further enhances demand, as UV-curable resins emit fewer volatile organic compounds (VOCs), aligning with global sustainability standards.
From a valuation standpoint, the market is projected to grow from US$ 6.5 Bn in 2024 to US$ 10.4 Bn by 2031, reflecting a CAGR of 6.9%. The coatings segment leads the market due to its extensive application in wood, plastics, and industrial surfaces where fast-curing and high-performance finishes are essential. Geographically, Asia Pacific dominates the global market, primarily due to rapid industrialization in China, India, and South Korea. Expanding electronics manufacturing hubs and increasing demand for sustainable coatings in construction and automotive sectors have positioned the region at the forefront of UV-curable resin consumption.
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➤ Key Market Insights
• Coatings remain the leading application segment, accounting for the largest market share.
• Asia Pacific dominates the global market, driven by industrialization and rising construction activity.
• The growing trend of sustainable manufacturing is boosting UV-curable resin adoption across industries.
• Advancements in 3D printing and electronics applications are creating new growth opportunities.
• VOC regulations and eco-friendly initiatives are pushing industries to switch to UV-curable solutions.
➤ What are UV-curable resins used for?
UV-curable resins are widely used in coatings, adhesives, inks, and 3D printing due to their rapid curing ability when exposed to ultraviolet light. They provide excellent hardness, chemical resistance, and durability, making them ideal for wood finishing, electronics encapsulation, and optical materials. The packaging industry also relies on UV-curable resins for high-quality prints and protective coatings. Unlike solvent-based alternatives, UV-curable systems release minimal VOCs, aligning with eco-friendly production goals. As industries demand faster production cycles and sustainable solutions, UV-curable resins are gaining prominence in diverse applications across global markets.
➤ Market Dynamics
Drivers: Rising demand for environmentally friendly materials with low VOC emissions, increasing adoption in electronics manufacturing, and rapid curing benefits compared to thermal or solvent-based systems are major growth drivers. The material's ability to enhance durability and product aesthetics also strengthens its market penetration.
Market Restraining Factor: High initial costs and limited curing depth in some applications act as restraints. Additionally, the availability of alternative technologies in specific sectors can hinder widespread adoption.
Key Market Opportunity: Expanding opportunities lie in 3D printing, flexible electronics, and medical devices. The development of bio-based UV-curable resins can further open new markets while addressing sustainability concerns.
➤ Market Segmentation
By application, the UV-curable resin market is divided into coatings, adhesives, inks, and others. Among these, coatings dominate, supported by strong demand in wood, industrial, and plastic coatings. The adhesives segment is also witnessing notable growth, driven by rising adoption in electronics assembly, packaging, and medical equipment where high-performance bonding is critical. Inks are increasingly used in packaging and printing, particularly as industries move toward high-quality, eco-friendly solutions. The "others" segment includes emerging applications such as 3D printing and optical devices, which are expected to grow significantly during the forecast period.
By end-use industry, the market serves electronics, automotive, construction, packaging, and healthcare. Electronics is one of the fastest-growing segments, driven by UV resins' application in encapsulation, circuit boards, and protective coatings. Automotive is another strong contributor, as UV-curable resins provide durable finishes and resistance against scratches and chemicals. The construction industry benefits from their application in flooring, decorative coatings, and protective layers, while healthcare is leveraging UV-curable materials for medical adhesives and equipment coatings. Packaging, particularly flexible packaging, is adopting UV resins to meet eco-friendly requirements and deliver durable prints.
➤ Regional Insights
Asia Pacific dominates the ultraviolet curable resin market due to robust manufacturing infrastructure, increasing construction projects, and booming electronics production. China, South Korea, and India are key contributors, with government support for sustainable materials and rapid industrialization driving adoption. North America follows, fueled by strong demand in automotive, healthcare, and packaging. Europe also plays a significant role, supported by stringent environmental regulations and advanced R&D in eco-friendly coatings. Latin America and the Middle East & Africa are emerging markets, gradually adopting UV-curable technologies in construction and consumer goods.
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➤ Competitive Landscape
The ultraviolet curable resin market is moderately consolidated, with companies focusing on innovation, eco-friendly products, and geographic expansion. Leading firms are investing in bio-based resins and strengthening their supply chains to meet rising global demand.
✦ BASF SE
✦ Allnex Belgium SA/NV
✦ Dymax Corporation
✦ Sartomer (Arkema Group)
✦ Royal DSM
✦ Hitachi Chemical Co., Ltd.
✦ Covestro AG
✦ Nippon Kayaku Co., Ltd.
✦ Eternal Materials Co., Ltd.
✦ Toagosei Co., Ltd.
➤ Key Industry Developments
Recent developments include Arkema's Sartomer launching bio-based UV-curable resins to support sustainable manufacturing, while BASF expanded its UV-curable coatings portfolio for automotive and industrial applications. Dymax Corporation introduced new medical-grade UV-curable adhesives, catering to growing healthcare demand.
Additionally, Covestro has been focusing on innovative solutions for 3D printing applications, while Royal DSM invested in R&D for next-generation UV-curable materials. These developments reflect the industry's strategic push toward sustainability, performance enhancement, and advanced applications across multiple sectors.
➤ Innovation and Future Trends
The future of the UV-curable resin market will be shaped by innovations in bio-based and nanotechnology-enhanced formulations. Research is advancing toward resins that combine high performance with sustainability, aiming to reduce dependency on petroleum-based raw materials. The expansion of additive manufacturing is further enhancing opportunities for UV-curable resins in prototyping and production.
Future trends also include the integration of smart coatings with UV-curable resins, enabling surfaces to resist scratches, self-heal, or provide antimicrobial protection. As industries increasingly seek high-speed, eco-friendly production processes, UV-curable resins are expected to become a mainstream choice across sectors ranging from electronics to medical devices and construction.
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