Recent Study on UV Curable Resins and Formulated Products Market

The global UV curable resins & formulated products market is estimated to be USD 4.5 billion in 2021 and is projected to reach USD 7.2 billion by 2026, at a CAGR of 9% from 2021 to 2026.

The major factor responsible for the growth of this market is the increasing stringent regulations on VOC emissions leading to the development of eco-friendly technologies, such as 100% solids UV and waterborne UV which are replacing solvent-borne UV, as they display high performance, owing to superior mechanical properties. These factors contribute to the growth of the UV curable resins & formulated products market.

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Browse more than 150 market data tables with more than 40 figures and an in-depth TOC on the report, “UV Curable Resins & Formulated Products Market - Global Forecast to 2026”.

Acrylates are the major oligomer chemistries in UV curable resins & formulated products (oligomers) market.

Epoxy acrylates and polyester acrylates are some of the majorly used UV oligomers. Fast curing, good chemical resistance, high gloss, and relatively low cost are the advantages of epoxy acrylates. Polyester acrylates have a broad raw material base, which allows for a wide variety of backbone structures and functionalities. They can have low-to-very high functionality and can have very hydrophilic to extremely hydrophobic backbones. The demand for acrylate oligomers such as silicone acrylates and acrylic acrylates is expected to increase over the next 5 years, owing to huge investments being made in expanding applications such as 3D printing, digital printing, UV nail paints, and others which will further propel the growth of the UV curable resins and formulated products market.

Coatings application segment accounted for the largest share of the UV curable resins & formulated products market.

In the coatings industry, UV curable coatings segment is one of the fastest growing application segments. This high growth is mainly driven by the “go green” trend and its increasing use of applications in various industries. Asia Pacific leads the UV curable resins & formulated products market in coatings application due to rapid industrialization and the increasing demand for flexible packaging in countries, such as China, Japan, South Korea, and Taiwan. In Europe, the demand for UV curable coatings is fueled by wood coating, plastic coating, and paper coating applications, especially, in countries such as Germany, Sweden, and the UK. In regions such as the Middle East & Africa and South America, the demand for UV curable coatings is expected to grow at a fast pace over the next few years. Brazil is expected to witness an exponential increase in demand for UV curable coatings due to the increasing demand for industrial coatings in the country.

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Asia Pacific UV curable resins & formulated products market is expected to grow at the highest CAGR during the forecast period.

Asia Pacific holds the largest market share and is expected to be the dominant market at a healthy CAGR during the forecast period. The robust growth of industries and urbanization is fuelling the growth of the UV curable resins market in the developing countries of Asia Pacific. Moreover, evolving environmental & regulatory scenario, increasing consumer awareness (including sensitivity to health and safety), and pressure from flagship companies to improve their environmental performance of supply chain have resulted in an increased demand for UV curable resins & formulated products in the Asia Pacific region.

Furthermore, the presence of most populated countries such as India and China has various end-use industries, which is further contributing to the market growth. China, South Korea, and Japan are the largest consumer of UV curable resins in this region.

Key players in the UV curable resins & formulated products market

Asia Pacific is the largest market for UV curable resins & formulated products, both in terms of volume and value, followed by Europe and North America. Key players in the global UV curable resins & formulated products market include), Allnex (Germany), Alberdingk (Germany), BASF (Germany), DSM-AGI (Netherlands), Covestro (Germany), Nippon Gohsei (Japan), Hitachi Chemical Company (Japan), IGM Resins (Netherlands), and Miwon Specialty Chemical (South Korea).

Study Coverage:

This report covers the UV curable resins & formulated products market in terms of key regions and important countries in each region. The UV curable resins & formulated products market has been segmented based on composition into oligomers, monomers, additives, and photoinitiators. Based on application, the market has been segmented into coatings, overprint varnish, printing inks, adhesives, 3D printing, and other applications (which include optical, concrete, dental, foil, UV nail paints, and resilient flooring). UV curable resins & formulated products market has been segmented on the basis of chemistry into non acrylates & oligoamines, epoxy acrylate, polyester acrylate, urethane acrylate/PUDs, and others based on oligomer chemistry. Furthermore, the UV curable resins & formulated products market has been segmented on the basis of technology into solventborne UV, waterborne UV, 100% solids UV, and powder UV. The UV curable resins & formulated products report has been studied for North America, Europe, Asia Pacific, Middle East & Africa, and South America.

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