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Ultraviolet (UV) Curable Resins Market

The research report on Ultraviolet (UV) Curable Resins Market is segmented By Composition, By Application, By Region – Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026
Ultraviolet (UV) Curable Resins Market – Size, Share,
Outlook, and Opportunity Analysis, 2018 – 2026
Ultraviolet (UV) curable resins consist of monomers (acts as a diluents), oligomers,
initiators (Photo polymerization initiators & co-initiators), and additives (pigments,
plasticizers, antioxidants, & stabilizers). Ultraviolet curable resins are gaining
popularity over conventional resins, owing to excellent physical & chemical
properties offered by UV curable resins.
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Market Dynamics:
Increasing environmental concern & stringent government regulations regarding
emission of volatile organic compound (VOC) have led resin manufacturers to focus
on developing low volatile resins such as UV curable resins. The US Environmental
Protection Agency (EPA), Ozone Transport Commission (OTC), California Air
Resources Board (CARB), and South Coast Air Quality Management District
(SCAQMD) have set restrictive limits on the Volatile Organic Compound (VOC)
content in architectural and industrial maintenance coatings. According to EPA, limit
for exterior coatings has been set as 250 grams of VOC per Liter. Such factors are
fueling growth of global Ultraviolet (UV) curable resins market.
However, technical limitation of UV curing technology such as oxygen inhibition and
initial yellowing are some of the key challenges for market growth.
Global Ultraviolet (UV) Curable Resins Market Outlook:
Among application, coating segment dominated global ultraviolet (UV) curable resins
market in 2017. In coating, UV curable resins offers multiple advantages such as
less or no VOC emission, high speed curing at low temperature, heat & moisture
resistance, less energy consumption, reduced waste. Such factors are boosting
demand for ultraviolet (UV) curable resins in metal, plastic, and wood coating
Asia Pacific is projected to be the fastest growing region in global ultraviolet (UV)
curable resins market over the forecast period (2018-26). Favorable growth of end
use industries of UV curable resins such as paint & coatings and adhesives in China
and India is fueling growth of the market. According to Coherent Market Insights
analysis, paint & coatings market in Asia Pacific is projected to reach US$ 103.54
billion by end of 2025.
Key players:
Key players operating in global ultraviolet (UV) curable resins market include BASF
SE, Hitachi Chemical Co., Ltd, Allnex Group, Arkema Group, Royal DSM N.V., The
Nippon Synthetic Chemical Industry Co., Ltd., Covestro AG, IGM Resins B.V., Miwon
Specialty Co. Ltd., and Jiangsu Sanmu Group Corporation.
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emerging market trends, technologies, and potential absolute dollar opportunity.
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