Curing (UV) is a process during which a chemical reaction or physical action takes place, resulting in a harder, tougher, or more stable linkage of a materials such as an adhesive bond. When the additive are activated by ultraviolet radiation the process is called UV cure. The process is particularly undertaken for polymer material by cross linking of polymer chains. Curable material founds its diverse applications in bonding of metal, glass, adhesive and industrial manufacturing. Vulcanization is a prominent curing process specifically used for rubber materials.
Over the past few years curable material market was growing progressively driven by bonding applications. Due to high strength properties of end product curing materials are highly favorable in industrial manufacturing. Factor such as tire manufacturing wherein vulcanization process largely used, which is driving a demand for curable materials globally. Automotive industry has a massive demand for tires and is likely to grow significantly by driving curing material demand. Industrial and commercial coating applications also contributing equally in the global market. Moreover, curable materials are highly opted for bonding of metals, glass, plastic, adhesive and other industrial applications, which resulted into additional demand. On the other hand, driven by consumer and industrial demand, plastic manufacturing is growing significantly with yearly double digit moderate growth. This in turn has generated substantial demand for curable materials and it is expected to grow progressively over the forecast period. Although, the market growth is restrained by instability in the prices of raw material, which could be the key challenge for top producers in the years to come. The global curable material market is anticipated to have healthy growth prospects due to increasing application area of curable material. Additionally, increasing urbanization in emerging economies also expected to develop growth factors over the forecast period.
List of Key Players in the Curable Materials Market
Key players of the global curable materials are
Source: MRFR Analysis
The global Curable Materials market is dominated by Asia Pacific region followed by Europe and North America. The region is key consumer of curable material and accounted for over 40% of global market shares in 2016. Asia Pacific belongs to huge automotive manufacturing base which leads to greater demand for tire and ultimately for curable materials, specifically for rubber. China, India, Japan, South Korea are the key markets in this region driving Asia Pacific curable material market. Greater adoption of these materials in coatings and adhesive industries have played vital role in overall regional growth. Furthermore, increasing foreign investment in the area of industrial manufacturing anticipated to drive Asia Pacific market. The region is projected to retain its dominance over the forecast period on account of Chinese market contribution in regional growth. Europe is the second largest market for curable material driven by key markets Germany, Italy, Spain, UK, and Netherlands. Polymer industries in this region is growing significantly thereby driving regional demand. On the other hand, North America is the relatively smaller market for curable material and has witnessed sluggish growth over the past few years. Regulatory compliances on the production of plastic has restrained growth of this region up to some extent.
The global curable Materials market is majorly segmented on the basis of type, application, and regions. Market segmentation based on type include rubber, polymer and others. On the basis of application global market segmented into coating, adhesive bonding, sealants, general electronics, printing, industrial, plastic bonding, and others. Geographically global market has been segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
|Market Size||2030: Significant Value|
|CAGR||(2022-2030) : 7.10%|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Rockwell Automation, Inc. (U.S.), Rubber King Tyre Pvt. Ltd (India), Green Rubber Group (Malaysia), KEYLAND POLYMER MATERIAL SCIENCES (U.S.), Arnette Polymers LLC (U.S.), Dymax Corporation (U.S.), Shin-Nakamura Chemicals Co. Ltd (China) and others.|
|Key Market Opportunities||Due to high strength properties of end product curing materials are highly favorable in industrial manufacturing.|
|Key Market Drivers||Automotive industry has a massive demand for tires|
The outlook of the global curable materials market looks very promising.
Curable rubber and curable polymers are the major types of curable materials, which find applications in the making of coating, adhesive bonding, sealants, and others.
Rapid growth in the general electronics and printing sectors, Advances in curing technologies.
Asia Pacific holds the largest share in the global curable materials market, followed by Europe and North America, respectively.
Rubber King Tyre Pvt. Ltd (India), Rockwell Automation, Inc. (US), Green Rubber Group (Malaysia), Arnette Polymers LLC (US), Keyland Polymer Material Sciences (US), Dymax Corporation (US), and Shin-Nakamura Chemicals Co. Ltd (China), are some of the major players operating in the curable materials market.