UV Curable Resins and Formulated Products Market Research Report - Forecast to 2030

UV Curable Resins Market Research: Information by Composition (oligomers, monomers, photoinitiators, additives), by Application (wood & paper coatings, plastic coatings, metal coatings, printing inks, adhesives, 3D printing, adhesives) – Forecast till 2030

ID: MRFR/CnM/0361-HCR | December 2022 | Region: Global | 137 Pages         

UV Curable Resins Market

UV Curable Resins Market is projected to be worth USD 1,37,89,741 Million by 2030, registering a CAGR of 14% during the forecast period (2021 - 2030).

Segmentation

By Composition Oligomers Monomers Photoinitiators Additives
By Application Wood & Paper Coatings Plastic Coatings Metal Coatings Printing Inks Adhesives 3D Printing Adhesives

Key Players

  • IGM Resins (Netherlands)
  • Alberdingk Boley GmbH
  • Showa Denko Materials Co
  • Miwok Specialty Chemical Co. Ltd.
  • BASF SE
  • Wanhua Chemical Group Co
  • Covestro AG
  • Allnex Netherlands B.V
  • Alberdingk Boley GmbH

Drivers

  • The low cost
  • productivity
  • durability and low maintenance make it ideal for the many end-user industries
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UV curable resins Market Overview

UV Curable Resins Market is projected to be worth USD 1,37,89,741 Million by 2030, registering a CAGR of 14% during the forecast period (2021 - 2030).

UV is a way method of curing through radiation. The materials used in this process are adhesives, coatings and Inks. This technology comes with instant curing benefits. In many products such as adhesives, inks and coating ultraviolet light is used for photopolymerization.


Today, there are various types of resins available. They come with a wide range of benefits that are suitable for different applications. High productivity, less wastage and low temperature are some of the advantages of using it. The high energy density feature of this product is suitable for optical holding. These curable resins are classified into oligomers and monomers.


 In recent years, polyester resins are gaining more traction. They are used for many applications. The UV curable resins are useful for polyester and polyethene. The need for exceptional quality industrial coating has a high demand for UV curable resins. The developing nations have a massive demand for this equipment. The rising industrial operations will contribute to the high growth of this market. All these factors are expected to boost overall UV Curable Resins and Formulated Products Market Value. 


Covid analysis 


Covid 19 is a damaging impact on various global industries. The end-users of the UV curable resin market are facing loss. It is creating a declining trend in the market. A decrease in end-user applications decreases production. The supply chain disruptions are higher for this market. Due to these disruptions delayed deliveries are experienced. More than 21 countries have strict lockdowns. It is affecting the overall growth and supply of this market.


China is the most affected regional player. It is a top manufacturer of the market. Due to the revenue losses from the key regional player the market is facing a downfall. In the upcoming years, the demand for the market is expected to rise. From 2021, the market operations are improving. Demand from key end-users is resuming. High growth rate and increased production are some of UV Curable Resins and Formulated Products Industry.


Market dynamics 



  • Crucial market drivers 


The improved performance of curable resins is a crucial market driver. Waterborne UV curable is gaining more traction these days. The VOC and reactive dilutes are reduced due to the added performance of UV curable resins. Today, many coatings come with high water dilution to decrease pollution. An increase in health and safety is leading to more waterborne UV curable resins.


The density of these coating is less than making it effortless to apply and clean. Viscosity in these coating is managed by mixing the oligomers. Fewer process issues, high viscosity control and excellent gloss finish are some of the features of these resins. Further, one of the other benefits of the technology is quick drying time. With good airflow and heat, the coating is quickly dry.


It is a coating that only takes overall seven minutes to dry. Curing the coating growth UV light has higher benefits. Flushing coating with water to remove dirt is possible through thus UV curable resins. The enhanced features of this coating will lead to high demand from the end-users. Demand from the industries is another driver of the market. Industrialization will increase UV Curable Resins and Formulated Products Market Size. 



  • The market growth opportunities 


Development of new technologies will lead to high UV Curable Resins and Formulated Products Market Growth opportunities. Enhancement of photoinitiators will create high growth in the market. The solubility and photosensitive wavelength features are improving. New UV curing technologies have high demand. Growing research and development in the market will lead to plenty of product enhancements. Rising urbanization is expected to rise growth opportunities. The coatings market for consumer electronics is witnessing massive demand. Due to the rise in urbanization, the growth of the consumer electronics industry is high. It is a crucial factor in increasing the overall growth of the market.


In upcoming years, the cost of the UV curable resins will reduce. High durability, low maintenance and cost efficiency are the exceptional benefits of these curable resins. These factors in the market will attract various end-users. Industries will have immense demand due to these features. Further, rising demand from emerging nations will increase. Industrialization in developing nations is high. It will create exceptional growth opportunities in the UV curable resins market. All these growth opportunities will contribute to high expansion. 



  • The market restraints 


The high cost of setting is a crucial restraint in the market. The conventional coating is comparatively lesser than UV curable resins. The merging nations are cost-sensitive. The formulating solutions with fewer costs have high demand in this region.


The initial cost is a problem as there is a lack of funds in this period. Covid 19 has to lead to economic recession in many regions. It is leading to more demand for cost-effective curable. The cost of setting can impact the growth of this market. Revenue losses are expected due to these market restraints. These growth hampering factors can decline the adoption rate in developing nations. 



  • The market challenges 


The environmental challenges are significant limitations in the market. Due to wastewater discharge UV, curable can face less adoption rate. UV coating has a high disposable of grease, metals and wastewater streams. The manufactures of this UV curable high have a requirement to abide by environmental regulations.


Heavy metal contamination in water sources is possible through these production activities. However, the UV curable resins market production is less harmful than another coating. Due to its benefits, the adoption in the construction industry is rising. All these challenges of the market can hamper the expansion rate. Less production can happen due to environmental harm. 



  • Cumulative growth analysis 


UV Curable Resins and Formulated Products Market Trends is positive in the forecast period. Solid UV resins are gaining more demand among end-users. Also, the oligomers segment of the market has high value. There is a crucial driver of the market that constantly stirs overall demand.


The improved versions of UV curable have high requirements in many regions. The rising need for the UV curable resins in industries will lead to high growth. However, high initial costs and environmental challenges hamper market growth. However, the development of new technologies in the market will bring promising growth opportunities. The overall growth of this market is substantial due to all these factors.



  • Value chain analysis 


Asia Pacific is expected to dominate with UV Curable Resins and Formulated Products Market. The market value and demand is higher in this region. India, China, Japan, South Korea and Malaysia are some of the key regions in this market.


It is one of the fastest-growing markets in the world. The formulated products have a higher manufacturing rate. There are plenty of growth opportunities in the market. The growing industrialization is driving demand for coatings. Also, these less harmful UV curable resins have a wide range of applications. All these factors will contribute to the higher profitability of the market. 


Segment overview 


By composition type 



  • Additives 

  • Oligemoers 

  • Photoinitiators 

  • Monomers 


By chemistry 



  • Acryl ate oligomers 

  • Non-acrylate oligomers 


By technology 



  • Powder UV resins

  • Coatings 

  • Solid UV resins 

  • Waterborne resins 


By application 



  • Adhesive 

  • Coatings 

  • Printing inks 

  • Overprint vanishes 


By region 



  • Asia pacific 

  • Europe 

  • North America 

  • The Middle East and Africa 


Competitive landscape 


The competition in the UV curable resins is rising. There are expansions, market acquisitions, mergers and collaborations in the market. In upcoming years, new developments are expected in this market. The investments from the key player are rising for the market. 


Regional analysis 


The UV curable resins market is diversified into Asia Pacific, Europe and North America. The Asia Pacific is the leading shareholder of the market. There are plenty of factors that drive demand in this market. There is the top leader in the market that lead to high developments. There are new technological advancements in Asia pacific.


New product launches will attract plenty of end-users to the market. North America is another region with the highest shares. It is an early adopter of UV curable resins. The need for environmentally friendly coating is driving demand in this region. Europe is another region with high growth potential. 


The key players in UV curable resins market are 



  1. IGM Resins (Netherlands) 

  2. Alberdingk Boley GmbH 

  3. Showa Denko Materials Co 

  4. Miwok Specialty Chemical Co. Ltd. 

  5. BASF SE

  6. (Germany), Wanhua Chemical Group Co

  7. Covestro AG 

  8. Allnex Netherlands B.V

  9. Alberdingk Boley GmbH 



Recent Development

April 2021 :
Anycubic, a renowned 3D printer manufacturer, launches Wash & Cure Plus, a big-sized 3D printing post-processing UV curable resin washing machine, with new, exciting and innovative functions and features for 3D printer users.
The Wash & Plus range has been created to give consumers more convenience and high productivity. The L-shaped and UV-light bar feature exhibits high flexibility, enough to guarantee 360 degrees of proper curing, which allow the 3D models to be effectively cured by UV light.

October 2021 :
INX International Ink Co. introduces INXhrc RC, a high-performance and quality UV curable ink system infused with renewable, sustainable and clean ingredients. The UV curable inks are Nestle compliant and developed for printing on rigid, non-porous, plastic and foam-based packaging.

Allnex, a global leader in energy-curable technology for industrial, graphics, consumer electronics, plastics and special purpose coatings and inks, today announced the launch of four high perfomance, organo-tin- and BPA-free replacement solutions for lithographic, flexographic, screen, gravure, and direct or reverse roll UV/EB-curable inks applications. The products in question are EBECRYL® 416, 417, 418 and 441.


Report overview 



  1. Market overview highlights 

  2. Analysis based upon COVID 19

  3. Explanation upon the Market Dynamics

  4. Value chain analysis

  5. Market segmentation overview

  6. The regional analysis

  7. Competitive landscape analysis

  8. Recent Developments



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: USD 1,37,89,741 Million
  CAGR   2022–2030: 14% CAGR
  Base Year   2021
  Forecast Period   2022Β toΒ 2030
  Historical Data   2019Β &Β 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Composition, By Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Arkema SA (France), Allnex Group (Germany), Toagosei Co. Ltd. (Japan), BASF SE (Germany), Royal DSM N.V. (Netherlands), Covestro AG (Germany), Nippon Gohsei (Japan), Hitachi Chemical Company Ltd. (Japan), IGM Resins B.V. (Netherlands), and Miwon Specialty Chemical Co. Ltd (South Korea).
  Key Market Opportunities   UV curable resins include wood and paper coatings, plastic coatings, and adhesives.
  Key Market Drivers   The low cost, productivity, durability and low maintenance make it ideal for the many end-user industries.


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Frequently Asked Questions (FAQ) :

UV Curable Resins Market is projected to be worth USD 1,37,89,741 Million by 2030

Major companies are Toagosei Co. Ltd. (Japan), Arkema SA (France), Allnex Group (Germany), Covestro AG (Germany), BASF SE (Germany), Royal DSM N.V. (Netherlands), IGM Resins B.V. (Netherlands), Hitachi Chemical Company Ltd. (Japan), Nippon Gohsei (Japan), and Miwon Specialty Chemical Co. Ltd (South Korea).

The Asia Pacific market would be the trendsetter.

UV curable resins formulated products market growth in the region include the developed automobile, construction, and electrical & electronics sector,