Industry News

Global UV Curable Resins Market to Reach USD 3.05 Billion by 2021: M&M

Published on 2016-06-17. Author : SpecialChem

The report "UV Curable Resins & Formulated Products Market by Composition, by Application, by Chemistry, Application by Composition, and by Region - Global Forecast to 2021", The global UV curable resins market is projected to reach USD 3.05 Billion by 2021, registering a CAGR of 8.12% from 2016 to 2021. Increasing stringent regulations on VOC emissions have led to the development of eco-friendly technologies such as 100% UV and waterborne UV to replace solvent-borne UV. The high performance owing to superior mechanical properties of UV curable resins further drives their demand.

Global UV Curable Resins Market to Reach USD 3.05 Billion by 2021
Fig. 1: Global UV Curable Resins Market
to Reach USD 3.05 Billion by 2021

Non-acrylate & oligoamines and epoxy acrylates are the major oligomer chemistries in the UV curable resins market

Non acrylated & oligoamines are oligomers which are used for free-radical curing of coatings, inks, and adhesives. Epoxy acrylates are one of the most commonly used UV oligomers. Fast curing, good chemical resistance, high gloss, and relatively low cost are the advantages of epoxy acrylates.

Industrial coatings represent the bulk of the demand for UV curable formulated products

With legislators seeking to reduce solvent emissions from coating processes through laws such as the Solvent Emissions Directive (SED) and the Decopaint Directive (DPD), there is a significant trend toward the use of more environmentally friendly industrial coating systems. As a result, UV curing systems are becoming increasingly important.

Asia-Pacific is estimated to account for the highest CAGR during the forecast period

Asia-Pacific is the largest market for UV curable formulated products, both in terms of volume and value, followed by Western Europe and North America. China, the U.S., and Japan & Korea are the largest consumers of UV curable formulated products. Factors such as evolving environmental & regulatory scenario, increasing consumer awareness (including sensitivity to health and safety), uncertainty about oil price, and pressure from flagship companies wanting to improve their environmental performance of their supply chain have all led to increasing demand of UV curable formulated products in the Asia-Pacific region.

Key players in the UV curable resins market

The key players in the global market include Allnex Belgium S/A (Belgium), Alberdingk Boley GmbH (Germany), Royal DSM N.V. (Netherlands), BASF SE (Germany), Covestro (Formerly Bayer MaterialScience) (Germany), Nippon Gohsei (Japan), Jiangsu Sanmu Group Corporation (China), Wanhua Chemical Group Co. (China), Dymax Corporation (U.S.), Eternal Chemical Co. (Taiwan), Hitachi Chemical Company Ltd. (Japan), IGM Resins (Netherlands), Sartomer USA LLC (U.S.), and Miwon Specialty Chemical Co. Ltd. (Korea).

About MarketsandMarkets

MarketsandMarkets is the world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. MarketsandMarkets specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. The 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

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Source: MarketsandMarkets

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