UV Curable Resins & Formulated Products Market

UV Curable Resins & Formulated Products Market Global Industry Insights, Trends, Outlook, and
Opportunity Analysis, 2018-2026
UV curable resins are those resins that involve less harmful emissions, fast cure
(high productivity), less energy consumption, less equipment space, low temperature
treatment, and waste reduction. UV curable resins do not contain any organic
solvents that harm the environment. These resins include monomers, oligomers,
co-initiators, photo-polymerization, and various additives such as antioxidants,
stabilizers, pigments, and plasticizers. UV curable resins are used in a wide range of
applications in the ink and coating and adhesive industries. UV curable resins are
the most preferred option for applications with fast-curing and fast-drying
requirements.
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Low cost equipment associated with the manufacturing of UV curing resins along
with technological development have helped drive growth of the market for UV
curable resins and formulated products. Increasing demand for odor-free, safe,
sustainable, and green materials has increased the demand for UV curing resins
thus, boosting market growth. These resins offer benefits such as high productivity,
cost effectiveness, durability, and low maintenance, which in turn, drives growth of
the market for UV curable resins and formulated products. However, fluctuation in
costs associated with its raw materials, high costs associated with R&D activities and
initial investments of manufacturers pose as major restraints for growth of the
market. Moreover, high conventional heat or infrared radiation involved in the UV
curing process causes major complications in these products.
UV Curable Resins & Formulated Products Market Outlook
Asia Pacific is the largest market for UV curable resins, both in terms of value and
volume of the product than any other region across the globe. China, Japan, and
India are countries possessing the largest consumer-demand for UV curable resins
and products. Increasing demand for flexible packaging and rapid industrialization in
these countries has led to the growing demand for UV curable resins and formulated
products.
The market in Europe is rapidly growing due to the increasing demand for plastic
coatings, paper coatings, and wood coatings. Germany, U.K., and Sweden are
countries experiencing lucrative growth of the UV curable resins and formulated
market. Stringent government regulations imposed on the use of conventional
methods that harm the environment, is a major restraining factor hampering market
growth in the region.
North America is the leading market for UV curable resins and formulated products.
The U.S., Canada, and Mexico are countries holding the largest market for
automobile and electronics products, thereby increasing the demand for UV curable
resins and formulated products. The market in has witnessed significant growth due
to high purchasing power and technological advancements in the region. The U.S.
accounts for around 80% of the market share in in North America.
In August 2016, Mitsubishi Chemical Corporation (MCC) of Japan, acquired The
Nippon Synthetic Chemical Industry Co. MMC also merged with Mitsubishi Rayon
and Mitsubishi Plastic. Mitsubishi Rayon is a major supplier of acrylic resins, impact
modifiers, and carbon fibers. Mitsubishi Plastic is a leading player in the agricultural
film and plastic packaging industry, while Nippon is a leading player in water soluble
film of PVOH for agricultural, medicines and chemicals.
Key player in UV Curable Resins & Formulated Products
Some of the key player in UV Curable Resins & Formulated Products Market are
Allnex Group (Germany), Arkema Group (France), Royal DSM (Netherlands), Nippon
Gohsei (Japan), Covestro AG (Germany), IGM Resins B.V. (Netherlands), Hitachi
Chemical Company Ltd., Toagosei Co. Ltd. (Japan), Miwon Specialty Chem Co.
Limited (South Korea), Double Bond Chemical Ind. Co. Ltd., Jiangsu Sanmu Group
Corporation, and BASF SE (Germany).
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UV Curable Resins & Formulated Products Market report categorizes global market By Composition , By Chemistry , By Technology , and By Application - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-26

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