Market analysis
The global UV Curable Resins And Formulated Products Industry likely to grow at a healthy CAGR between 2022 and 2030, a new market research future (MRFR) report reveals. UV curable resins are resins that are of great help in curing the radiation of materials such as adhesives, inks and coatings. Automotive, industrial, 3D printing, adhesives, printing inks, overprint varnishes, metal coatings, plastic coatings, paper coatings, wood coatings, etc. are some of its key applications.
Various factors are added to the market share of UV curable resin compounded products. As stated in the new MRFR report, these factors include high performance of such resins, strict regulations and environmental awareness, and printed circuit boards, barrier films, packaging, digital printing, and 3D printing. Includes increased growth prospects. Other factors driving market growth include increased demand from the automotive sector and increased government investment in infrastructure development. With low maintenance, durability, productivity and low cost, it is ideal for some end-user industries that are driving market growth.
On the contrary, high deployment costs and the need to dry thermally sensitive substrates are factors that may limit the growth of the UV curable resin formulation market over the projected period.
Market segmentation
Market Research Future Report provides a comprehensive segment analysis of the global UV curable resin formulation market based on application and composition.
Depending on the composition, the UV curable resin formulation market is segmented into additives, photoinitiators, monomers, and oligomers. Of these, the monomer segment will lead the market during the forecast period due to increased use in inks, adhesives, coatings and more. This is followed by the photoinitiator segment, which is expected to grow at the fastest pace.
By application, the UV curable resin compounded product market is categorized into automotive, industrial, 3D printing, adhesives, printing inks, overprint varnishes, metal coatings, plastic coatings, paper coatings, wood coatings and more. Of these, the industrial segment will dominate the market during the projected period of increasing use of adhesives, electrical and electronic devices, and packaging.
Regional analysis
By region, the global UV curable plastic market covers growth opportunities and recent trends in Europe, North America, Asia Pacific (APAC), Latin America, the Middle East and Africa (MEA). Of these, the Asia Pacific region is expected to lead the market during the forecast period. Factors driving the growth of the UV curable resin compounded product market in the region are rapid urbanization and industrial growth, favorable government regulations that have attracted major players to enter the profitable market in the region, And the presence of the most populous countries, namely China and India, has improved the automotive and construction sector. Japan, India and China are major contributors in the region.
The North American UV curable resin formulation market is projected to achieve healthy growth during the forecast period for advanced end-user industries such as electronics, transportation and construction, new investment in development, and refurbishment of commercial and residential infrastructure. ..
The European UV curable resin formulation market is expected to grow significantly during the forecast period. Factors driving the growth of the UV curable resin formulation market in the region include the development of the automotive, construction and electrical and electronic sectors, increased infrastructure development, strict environmental regulations on VOC content, and rising technological advances. increase.
Key player
Notable companies featured in the Global UV Curable Resin Formulation Market Report include Miwon Specialty Chemical Co. Ltd. (Korea), IGM Resin BV (Netherlands), Hitachi Chemical Company Ltd. (Japan), and Japan Synthetic. Includes (Japan), Covestro AG (Germany), Royal DSM NV (Netherlands), BASF SE (Germany), Toa Synthetic (Japan), Allnex Group (Germany), Arkema SA (France).
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