The 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. Resins that are polymerized and cured by the energy radiated from ultraviolet irradiation devices are referred as UV curable resins. These resins majorly find their application in coatings, graphic arts, adhesives, and other related industries.
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The growth of the global UV-curable resins market is majorly driven by surge in demand for UV-curable resins in applications such as adhesives, coating, and packaging. In addition, the development of new photo initiators for UV curing technology enables to produce more effective curable resins, thereby boosting the market growth. Furthermore, increase in popularity of eco-friendly curable products is expected to boost the growth of the market in the near future. However, limited light penetration depth is expected to restrict the market growth. Conversely, advancements in coatings and development of the 3D printing industry are anticipated to offer remunerative opportunities to the market expansion.
The UV curable resin market is segmented based on resin type, application, and region. Depending on resin type, the global market is fragmented into acrylated epoxies acrylated polyesters, acrylated urethanes, acrylated silicones, and others. By application, it is categorized into coating, packaging, printing, adhesives & sealants, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global UV curable resin market include 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.
KEY BENEFITS FOR STAKEHOLDERS
• Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the UV curable resin industry for strategy building.
• It outlines the current trends and future scenario of the market size from 2019 to 2026 to understand the prevailing opportunities and potential investment pockets.
• Major countries in the region have been mapped according to their individual revenue contribution in the market size.
• The key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study.
• The profiles of key players along with their key strategic developments are enlisted in the market analysis.
KEY MARKET SEGMENTS
By Resin Type
• Acrylated Epoxies
• Acrylated Polyesters
• Acrylated Urethanes
• Acrylated Silicones
• Adhesives & Sealants
• North America
o Rest of Europe
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o South Korea
o Rest of Asia-Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA