UV curable resins and formulated products companies are at the forefront of developing materials that cure rapidly when exposed to ultraviolet (UV) light. These resins find applications in coatings, inks, adhesives, and 3D printing. The companies in this sector contribute to the growing demand for sustainable and energy-efficient curing processes in various industries.
Beneath the rapid flash of ultraviolet light lies a hidden world of transformation. UV curable resins and formulated products, act as chemical alchemists, hardening into durable coatings, adhesives, and 3D printing materials within seconds. This lightning-fast process fuels diverse industries, from furniture finishing to electronics assembly, but beneath the seemingly smooth surface lies a dynamic competition, where established giants and nimble startups wrestle for dominance with diverse strategies and evolving trends. Let's illuminate the factors shaping market share, industry news, and recent developments that paint a vibrant picture of this dynamic landscape.
Key Players and Adopted Strategies:
Factors Shaping Market Share:
Key Companies in the UV Curable Resins and Formulated Products market include
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
Recent Developments:
UV Curable Resins and Formulated Products Market Size was valued at USD 4.44 billion in 2023. The UV Curable Resins and Formulated Products market is projected to grow from USD 5.06 Billion in 2024 to USD 12.68 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.16% during the forecast period (2024 - 2032). The improved performance of curable resins and reduced VOC and reactive dilute the key market drivers contributing to the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Market CAGR for UV curable resins and formulated products market is driven by the rising demand for UV Curable Resins and Eco-Friendly Products in various industries. UV curable resins and formulated products are gaining popularity due to their low VOC emissions, high energy efficiency, and reduced environmental impact. UV-curable coatings and inks can help companies reduce their carbon footprint and meet sustainability goals. The demand for usable and eco-friendly products is expected to increase further, driven by the growing awareness among consumers about the environmental impact of their purchases. The packaging industry, in particular, is under pressure to reduce its environmental footprint, and using UV-curable coatings and inks can help companies meet their sustainability goals while maintaining the performance properties of their products.
Additionally, the adoption of 3D printing technology is another major trend driving the growth of the UV curable resins and formulated products market. UV curable resins are widely used as printing materials in stereolithography (SLA) and digital light processing (DLP) 3D printing technologies. These resins offer several advantages over traditional 3D printing materials, such as faster curing time, better surface finish, and higher resolution. The demand for UV curable resins for 3D printing applications is expected to increase further, driven by the growing adoption of 3D printing technology across various industries, including healthcare, aerospace, automotive, and consumer goods. The ability of 3D printing technology to produce complex geometries and customized products with high accuracy and precision is driving its adoption across various industries.
One of the major trends driving the growth of the UV curable resins and formulated products market is the increasing demand from end-use industries. The coatings industry is the largest consumer of UV-curable resins and formulated products, accounting for over 50% of the market share. UV-curable coatings are widely used in various applications, including automotive, industrial, and consumer goods. The growing demand for UV-curable coatings can be attributed to their superior performance properties, such as high gloss, scratch resistance, and chemical resistance.
For instance, the UV curable resins and formulated products market is witnessing significant growth, driven by the increasing demand from end-use industries, rising adoption of 3D printing technology, and growing demand for sustainable and eco-friendly products. Companies operating in this market are concentrating on product innovation and development to cater to the evolving needs of their customers and gain a competitive edge in the market, driving the UV Curable Resins and Formulated Products market revenue.
The UV Curable Resins and Formulated Products Market segmentation, based on application, includes wood & paper coatings, plastic coatings, metal coatings, printing inks, adhesives, and 3D printing. The wood & paper coatings segment generated the most revenue. The coatings offer high gloss, scratch resistance, and durability and are used in various automotive, aerospace, and electronics applications. The demand for UV-curable coatings is growing due to their superior performance properties and environmental benefits.
The UV Curable Resins and Formulated Products Market segmentation, based on composition, includes oligomers, monomers, photoinitiators, and additives. The oligomers category generated the most revenue. They are typically made of urethane, epoxy, or acrylic functional groups. Oligomers provide the bulk of the physical properties of the cured resin and are responsible for the mechanical and chemical properties of the final product.
Figure 1: UV Curable Resins and Formulated Products Market, by Composition, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American UV Curable Resins and Formulated Products market area is expected to have significant growth in the market, owing to the rising demand from several industries such as automotive, electronics, and printing. The increasing focus on environmental regulations and sustainable manufacturing processes is also expected to boost regional market growth.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: UV CURABLE RESINS AND FORMULATED PRODUCTS MARKET SHARE BY REGION 2022 (%) 
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's UV Curable Resins and Formulated Products market accounts for the second largest market share in the environmental market. The growth can be calculated to the rising demand from the packaging and automotive industries. The region's stringent regulations regarding VOC emissions are also expected to drive market growth. Further, the German UV Curable Resins and Formulated Products market held the largest market share and is expected to witness steady growth in the coming years due to the increasing use of UV Curable Resins and Formulated Products in the production of electric vehicles and the UK UV Curable Resins and Formulated Products market was the fastest growing market in the European region.
The Asia-Pacific UV Curable Resins and Formulated Products Market will dominate the UV Curable Resins and Formulated Products market. The growth can be calculated to the rising demand from various end-use industries such as electronics, printing, and automotive. The growing population, urbanization, and increasing disposable income are also expected to drive market growth. Moreover, China’s UV Curable Resins and Formulated Products market held the largest market share, and the Indian UV Curable Resins and Formulated Products market was the fastest-growing market in the Asia-Pacific region.
For instance, the UV curable resins and formulated products market is expected to grow significantly during the forecast period, driven by increasing demand from various industries such as automotive, electronics, printing, and packaging.
Leading market players are investing heavily in research and development to expand their product lines, which will help the UV Curable Resins and Formulated Products market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To monitor and control environmental pollution and natural disasters, UV Curable Resins and Formulated Products industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the UV Curable Resins and Formulated Products industry to benefit clients and increase the market sector. In recent years, the UV Curable resin and Formulated Products industry has offered some of the most significant medical advantages. Major players in the UV Curable Resins and Formulated Products market, including IGM Resins, 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, and others, are attempting to increase market demand by investing in research & development operations.
INX International Ink Co., founded in 1896, and located in Osaka, Japan, is a complete line of ink and coating solutions technology for commercial, packaging, and digital applications. It is a leading manufacturer of inkjet inks, providing a full palette of digital ink systems, advanced technologies, and integrated services. In October 2021, INX International Ink Co. introduced INXhrc RC, a high-performance, 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, and foam-based packaging. Allnex, a leader in energy-curable technology for industrial, graphics, consumer electronics, plastics, and special-purpose coatings and inks, today announced the launch of four high-performance, organo-tin and BPA-free solutions for lithographic, flexographic, screen, and direct or reverse roll UV/EB-curable inks applications.
Anycubic, founded in 2015, and located in Shenzhen, China, is a 3D Printer manufacturer which specializes in the manufacture and international sale of filament and resin printers and 3D printing accessories. In April 2021, Anycubic, a renowned 3D printer manufacturer, launched Wash & Cure Plus, a 3D printing post-processing UV-curable resin washing machine with new and innovative features for 3D printer users. It has been created to give consumers high productivity. The L-shaped and UV-light bar feature shows high flexibility, enough to guarantee 360 degrees of proper curing, which allow the 3D models to be effectively cured by UV light.
IGM Resins (Netherlands)
Showa Denko Materials Co.
Miwok Specialty Chemical Co. Ltd.
BASF SE
Wanhua Chemical Group Co.
Covestro AG
Allnex Netherlands B.V
Alberdingk Boley GmbH
In April 2021: Covestro AG acquired Royal to expand its business in coating resins.
In October 2019: Allnex launched EBECRYL, a series of high-performance Bisphenol A (BPA)-free solutions for the packaging and inks markets.
UV Curable Resins and Formulated Products Composition Outlook
Oligomers
Monomers
Photoinitiators
Additives
UV Curable Resins and Formulated Products Application Outlook
Wood & Paper Coatings
Plastic Coatings
Metal Coatings
Printing Inks
Adhesives
3D Printing
UV Curable Resins and Formulated Products Regional Outlook
UV Curable Resins Formulated Products Market Highlights:
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