The global UV
Curable Resins & Formulated Products market is forecast to reach
USD 7.90 Billion by 2026, according to a new report by Reports and Data. UV curable
resins help in curing radiation of materials such as inks, coatings, and
adhesives among others. These resins are free from organic solvent and include
a variety of additives such as pigments, antioxidants, plasticizers, and
stabilizers.
The use of UV curable resins
& formulated products has risen over the past couple of decades. UV induced
cure has several benefits such as less energy consumption and equipment space,
less emission, reduced waste, low-temperature treatment, and higher productivity.
Moreover, these resins do not
contain any organic solvents that could impact the environment adversely. A
large number of UV light curable resins have been developed to meet the
stringent regulations in North America and Europe to reduce the level of air pollution
as well as energy consumption.
The Asia Pacific region is
forecasted to grow with the highest CAGR of 10.1% during the forecast period.
The rapid growth of industries and urbanization is propelling the growth of the
market. Favorable government regulations, highly populated countries such
as China and India, and expansion of the automotive and construction sector are
driving the market. Japan, China, and India are the largest consumers of the UV
curable resins & formulated products.
To identify the key trends in
the industry, click on the link below:
Further key findings from
the report suggest
- Oligomers held a market share of 29.8% in the year
2018. Oligomers such as acrylates are used for overprint varnish, in ink
application and wood coating. Some of the common types of Oligomers are
Epoxy Acrylate, Aliphatic urethane acrylate, Aromatic urethane acrylate,
polyester acrylate, and Acrylic acrylate.
- Aliphatic urethane acrylate and Aromatic urethane
acrylate type of oligomers increases toughness, flexibility,
multifunctional reactivity, chemical resistance, hardness, and also
reduces cost.
- Polyester acrylate is used for pigment wetting,
adhesion, oligomer of choice for litho inks due to water balance and
printability. In addition to oligomers being employed in radiation cure
formulations, they can be nonfunctional, monofunctional or multifunctional
and are used to enhance performance or environmental properties.
- Epoxy Oligomers are one of the most commonly used UV
curing industry as they are hard, fast curing, offer excellent abrasion
and chemical resistance. The hardness of the oligomers have quite a few
side effects as well, such as high viscosities, poor adhesion and it turns
yellow over time. Acrylate Oligomers held a larger market share of 67.9%
in the year 2018.
- Coatings are one of the most common applications of
UV curable resins and formulated products. It is forecasted to hold a
market share of 26.1% in the year 2026. The trend of “go green” adopted by
many governments across the globe are increasing the use of it in various
industries.
- North America is forecasted to hold a market share of
31.9% in the year 2026. North America is a developed region and
established end-user industries such as logistics, constructions, and
electronics are boosting the market.
- Key participants Arkema SA, BASF SE, Toagosei Co.
Ltd., IGM Resins B.V., Covestro AG, Nippon Gohsei, Alberdingk Boley GmbH,
Wanhua Chemical Group Co., Ltd., Lambson Limited, and Eternal Chemical Co.
Ltd, among others.
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For the purpose of this report,
Reports and Data have segmented into the global UV Curable Resins &
Formulated Products market on the basis of composition, chemistry, application,
and region:
Composition Outlook (Volume:
Kilo Tons; Revenue: USD Billion; 2016-2026)
- Oligomers
- Monomers
- Photoinitiators
- Additives
Chemistry Outlook (Volume:
Kilo Tons; Revenue: USD Billion; 2016-2026)
- Non-Acrylates & Oligoamines
- Acrylate Oligomers
Application Outlook (Volume:
Kilo Tons; Revenue: USD Billion; 2016-2026)
- Coatings
- Overprint Varnishes
- Printing Inks
- Adhesives
- 3D Printing
- Others
Regional Outlook (Volume: Kilo
Tons; Revenue: USD Billion; 2016-2026)
- North America
- U.S.
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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