UV Curable Resins Market Size & Share 2023 to 2032
Market Size by Composition (Monomers, Oligomers, Photoinitiators, Additives), by Raw Material (Epoxy acrylates, Polyester Acrylates, Urethane Acrylates), by Product (Industrial Coating, Adhesives, Inks) & Forecast.
Report ID: GMI381
|
Published Date: January 2023
|
Report Format: PDF
Download Free PDF
Authors:
Kiran Pulidindi, Kunal Ahuja
UV Curable Resins Market Size
UV Curable Resins Market size valued at USD 4 billion in 2022 and is anticipated to depict over 7% CAGR between 2023 and 2032, on account of the growing need for sustainable coatings in building and construction applications.
UV Curable Resins Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
According to the U.S. Census Bureau data, from November 2020 to November 2021, seasonally adjusted construction spending surged by 9.3% in the U.S. Such trends, alongside the increasing requirement for industrial coatings, will fuel the requirement for durable UV-curable resins for wood paints and other surface protection applications. Moreover, during free-radical UV curing, the presence of oxygen within or at the surfaces of formulations can adversely affect polymerization, thereby hampering UV curable resins market growth.
Global efforts toward the development of paints and coatings with low VOC footprints are increasing steadily, in order to mitigate carbon emissions. UV-curable resins have emerged as an attractive alternative to thermosetting resins, credited to their low requirement for solvent and high efficiency during the drying process, contributing to sustainability targets. With the burgeoning investment in building and construction, the demand for UV-curable coatings will rise and consequently boost the utilization of UV resin curing machines to contribute to a carbon-free society.
UV Curable Resins Market Analysis
The oligomer composition segment of the UV curable resins market is set to exhibit nearly 7% growth through 2032. Oligomer UV curable resins are gained increasing acceptance, owing to their high adhesion, bonding, elasticity, elongation, and susceptibility to environmental triggers. Apart from excellent weather and solvent resistance, the component can also exhibit self-repairing performance. The mounting investment in EV production facilities will therefore foster the adoption of oligomers for UV-curable protective coatings, given their durability, minimalistic appearance, and low VOC emissions.
The UV curable resins market revenue from the polyester acrylates raw material segment is projected to reach USD 2 billion by 2032, considering superior performance, stability, and cost-effectiveness, among other product attributes. Functional polyesters are also suitable for aerospace, automotive, and other industrial applications to support their versatility, mechanical properties, hardness, as well as chemical and UV resistance. With the rise in funding for transport aircraft manufacturing projects in developing nations, the consumption of polyester acrylates UV curable resins will thus surge to develop high-resistance coatings.
UV curable resins market from the adhesives segment is slated to register 6.5% CAGR from 2023 to 2032. This growth is attributed to the mounting infrastructure development and construction projects in countries including Japan, the U.S., China, and Germany. For instance, in March 2022, the U.S. Department of Transportation announced USD 2.9 billion through 3 discretionary grant programs to support infrastructure projects. Such initiatives will stimulate the utilization of UV adhesives to provide optimum bonding and subsequently bolster the requirement for binders such as UV-curable resins.
UV curable resins market valuation from the front-industry segment is expected to cross USD 2 billion by 2032, led by the product’s adhesion, scratch-resistance, and stain-resistance properties. Despite an initial downturn during the early months of the COVID-19 pandemic, office furniture manufacturers are gradually witnessing a steady recovery with new investment support from leading entities. In April 2022, Branch announced USD 10 million in Series A funding from Springdale Ventures to help address the robust demand for workstations and office chairs. Factors such as these are likely to proliferate the adoption of UV-curable resins for wood coating applications.
Europe UV curable resins market is slated to register USD 3 billion by 2032, due to the economic recovery and the expansion of automobile manufacturing bases. As per statistics from the Germany Trade & Invest, in 2021, automobile manufacturers produced nearly 15.6 million vehicles in the country, with 15 out of 75 top auto suppliers being Germany-based companies. Additionally, with the decline in the unemployment rate, automobile sales are forecast to increase and in turn, stimulate UV-curable resin production for automotive coating and adhesion applications in the region.
UV Curable Resins Market Share
The competitive landscape of the UV curable resins market comprises companies such as
These companies are focusing on new product launches, partnerships, and other strategies to strengthen their presence in the global market.
To cite an instance, in November 2022, Arkema introduced two high-performance custom formulations, N3D-HITEMP062 and N3D-CAST063, with excellent toughness and resolution attributes to extend its leading UV-curing range. This initiative was meant to enable the company to increase its consumer base and develop a strong footprint in the industry.
Impact of the COVID-19 pandemic
The economic crisis and supply disruptions caused by the COVID-19 outbreak asserted a negative influence on various global industry verticals including automotive. Despite the slowdown in market operations, however, vehicle demand remained strong, especially in developing nations. Based on Japan-based Suzuki, in the Q2 of 2022, the automaker’s sales rose to 27.9% Y-o-Y to 380,000 vehicles in India, following the gradual ease in lockdowns and other restrictions. Such trends will create lucrative prospects for UV-curable coating developers and consequently expedite industry expansion over the forthcoming years.
The UV curable resins market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD Million from 2018 to 2032 for the following segments:
Click here to Buy Section of this Report
Market, By Composition
Market, By Raw Material
Market, By Product
Market, By Front Industry
Market, By Region
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
The final stages involve human validation, where domain experts manually review filtered data to identify nuances and contextual errors that automated systems might miss. This expert review adds a critical layer of quality assurance, ensuring data aligns with research objectives and domain-specific standards.
Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
Trade publications
Security & defense sector journals and trade press
Industry databases
Proprietary and third-party market databases
Regulatory filings
Government procurement records and policy documents
Academic research
University studies and specialist institution reports
Company reports
Annual reports, investor presentations, and filings
Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →