UV Curable Resin Market Outlook 2026 Opportunity and Growth Analysis with Top Key Vendors
According to a new report published by KD
Market Insights, titled, "UV-Curable
Resin Market by Type and
Application: Global Opportunity Analysis and Industry Forecast,
2019-2026," global UV curable resin market was valued at $4,745.6 million
in 2018 and is estimated to reach $9,769.7 million by 2026, growing at a CAGR
of 9.4% from 2019 to 2026.
The use of UV curable resins has grown
significantly, as they have several advantages over conventionally cured resins
in terms of less energy consumption, reduced waste, zero emission of volatile
organic compound (VOCs), and higher productivity (fast curing).
UV curable resins do not contain any organic
solvents, which could have adverse environmental effects. However, the light
penetration depth, which depends on the wavelength and spectral distribution,
does not exceed a few millimeters. Thus, the application of UV-curable resins
is restricted to inks, coatings, and adhesives.
The UV curable resin market is segmented based
on resin type, application, and region. On the basis of resin type, the global
UV curable resin market is fragmented into acrylated epoxies acrylated
polyesters, acrylated urethanes, acrylated silicones, and others. The acrylated
epoxies UV-curable resin segment is expected to dominate the market, owing to
its fast cure rates and good adhesion performance because of the presence of
polar hydroxyl and ether groups in the epoxy backbone structure. However, the
acrylated urethane UV curable resin segment is expected to grow at the highest
CAGR during the forecast period.
Based on application, the market is
categorized into coating, packaging, printing, adhesives & sealants, and
others. The coating application is expected to dominate the market and printing
application is expected to grow with the highest CAGR in the market.
Region wise, the market is analyzed across
North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific dominates the
market owing to the growth in paints and coating industry which is the primary
consumer of UV curable resins. Asia-Pacific is further expected to maintain its
dominant position in the near future.
According to Eswara Prasad, Manager, Material
and Chemical at Allied Market Research, “UV-LED curing technology has undergone
significant advancements in the past few years. This technology serves as an
environmentally friendly solution, as UV-curable resins ensure zero VOC emission,
thereby significantly fueling their demand across the globe.
Key Findings of the UV-Curable Resin
Market:
- The North America segment accounted for a
share of nearly 33% in the UV curable resin market in 2018.
- The Printing segment is anticipated to grow with the highest CAGR throughout the forecast period.
- In UV curable resin market share, Acrylated urethanes accounted for more than 29% share in the UV curable resin market in 2018.
- The Asia-pacific is anticipated to grow at the highest rate in the UV curable resin market during the forecast period, followed by North America.
- In UV curable resin market size, the China accounted for more than 34% share 2018 and is anticipated to grow with a CAGR of 10.7% during the forecast period.
- The Printing segment is anticipated to grow with the highest CAGR throughout the forecast period.
- In UV curable resin market share, Acrylated urethanes accounted for more than 29% share in the UV curable resin market in 2018.
- The Asia-pacific is anticipated to grow at the highest rate in the UV curable resin market during the forecast period, followed by North America.
- In UV curable resin market size, the China accounted for more than 34% share 2018 and is anticipated to grow with a CAGR of 10.7% during the forecast period.
The key players in the UV curable resin market
growth are Hitachi Chemical, BASF SE, DSM-AGI, Jiangsu Litian Technology,
Allnex Belgium S.A., Sartomer, IGM, Eternal Materials, Dymax, Miwon Specialty
Chemical, and Jiangsu Sanmu Group.
To stay competitive in the market, these
market players are adopting strategies such as product launch and business
expansion. For instance, Hitachi Chemicals introduced TA series of UV-curable
resins, which are cured quickly under UV light after applied to substrates. In
addition, it has silicon-modified type and other product lined-up for release.
On December 2016, BASF SE announced to broaden
its UV resins portfolio by including five new standard epoxy acrylates from the
Laromer EA product family for radiation curable coatings and printing inks.
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