Global UV Curable Resins Market Size By Composition (Monomers, Oligomers, Photoinitiators, Additives), By Raw Material (Epoxy acrylates, Polyester Acrylates, Urethane Acrylates), By Product (Industrial Coating, Adhesives, Inks), By Front-Industry (Automotive, Wood Industry, Ship Building, Graphic Arts, Electronics, Plastic & Packaging), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Jun 2020  |  Report ID: GMI381  |  Authors: Kunal Ahuja, Sonal Singh

Report Format: PDF   |   Pages: 240   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

UV Curable Resins Market size exceeded USD 4 Billion, globally in 2019 and is estimated to exceed above 10% CAGR between 2019 and 2026. Increasing product demand among the electronics, packaging and automotive industry and increasing adhesives utilization will stimulate the market growth in coming years.
 

UV Curable Resins Market Statistics
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UV curable resins are widely utilized in various end industries such as coatings, inks, potting compounds, sealants, and electronics. Its characteristics such as high reactivity, strong chemical resistance, glossy and minimalistic aesthetics is likely to boost the UV curable resins market share. Consumer inclination towards durable and light weight electronic gadgets will have a positive impact on market growth.
 

UV curable resins are cured and polymerized in less duration by UV radiation energy imparting devices. This type of resin offers low temperature curing, fast curing, and good workability. Rising product utilization in automotive, wood industry, ship building, graphic arts, and electronics will positively impact the UV curable resins market growth.
 

Global coatings business was over USD 30 billion in 2018. These are widely used in manufacturing high quality coatings solutions owing to its strength increasing aesthetics improving properties. The product also aids in offering a glossy look. Rising coatings demand in multiple end use industries including residential and industrial will positively impact the UV curable resins market. Moreover, rising technological advancements and R & D activities for manufacturing efficient coating solutions will foster product demand.
 

Manufacturers are investing on collaborations & partnerships, R & D activities, and capacity expansions to meet the growing product demand and enhance product usage in multiple applications. Coronavirus spread has led to value chain disruptions throughout the globe. This has impacted the supply of raw materials used for manufacturing UV curable resins. The pandemic has led to global lockdown of commercial spaces and manufacturing plants which may hamper product utilization. However, increasing product demand for manufacturing solutions for electronics and automotive sector will stimulate the UV curable resins market revenue.
 

Global UV Curable Resins Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 4.36 Billion (USD)
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 10.6% 2026 Value Projection: 8.78 Billion (USD)
Pages: 240 Tables, Charts & Figures: 325
Geographies covered (21): U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Poland, China, India, Japan, South Korea, Indonesia, Malaysia, Thailand, Brazil, South Africa, Saudi Arabia, UAE
Segments covered: Product, Raw material, Composition, Application
Companies covered (12): BASF SE, Miwon Specialty Chemicals, ALLENEX, DSM N.V., Hitachi Chemical, Arkema, Eternal Materials, Jiangsu Litian Technology, IGM, Jiangsu Sanmu Group, Toagosei Co. Ltd., Soltech Limited
Growth Drivers:
  • North America: Rising automotive sector in the region will drive product demand
  • Asia Pacific: Increasing electronics manufacturing in the region will drive industry growth
  • Europe: Rising industrial coatings demand will foster industry growth
Pitfalls & Challenges:
  • Difficulty in curing in presence of oxygen

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Rising monomers demand due to widening application scope will foster industry growth

UV Curable Resins Market by Monomers

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Monomers segment was valued at USD 2.23 billion in 2019 and is forecast to grow over 10.5% through 2026. UV-curable monomer resins are materials that are cured & polymerized in short interval of time by energy radiated from UV rays and used for sealing applications. Rising technological innovations and high-performance resins demand should boost the UV curable resins market growth.
 

UV curable monomer resins are used in industry owing to its easy manufacturing process and economical nature. Additionally, UV curable resins reduce reject rate, improve solvency & scratch resistance, and facilitate superior bonding. UV curable monomer resins are widely utilized in wood industry owing to superior adhesion and binding properties. Rising wooden furniture utilization for designing homes will foster the UV curable resins market sales.
 

Rising adhesives demand for sealing purposes will drive the product demand

UV Curable Resins Market by Adhesives Segment

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UV curable adhesives segment was estimated to be at 54.81 Kilo Tons in 2019. Increasing adoption of high-performance bonding solutions in construction, automotive and electronics industries should trigger UV curable adhesives market growth. Growing infrastructural development, construction activities and technological advancements in the U.S., Japan, Germany, China, and India are likely to stimulate the UV curable resins market demand.
 

Rising environmental regulations on the usage & disposal of synthetic products along with growing environmental awareness should boost the demand for products with low volatile organic compounds (VOCs) such as UV curable adhesives. Substantial expansion of the e-retail, e-commerce, and online food ordering services has led to growing demand for flexible packaging solutions which is likely to stimulate the segment growth.
 

Rising product utilization in automotive industry will foster the market growth

UV Curable Resins Market by Front Industry

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UV Curable resins market from automotive front industry was valued at USD 705.30 Million in 2019 and is expected to exceed 10% growth during the estimated timeframe. Automotive coatings sector is anticipated to grow over 4% through 2024. The product is used for manufacturing coatings which are widely utilized to coat automotive components and offer attractive finish.
 

Coatings are used for polycarbonate lens and the reflector housing in headlamps. The reflector housing is sealed and protected by utilizing UV coating. Automotive lighting sector is anticipated to grow over 5% by 2027 owing to growing safety concerns and advanced technologies.
 

Rising product utilization for food packaging in North America will fortify industry growth

North America is predicted to grow over 11.0% through 2026. Growing demand for packaged food & beverages in North America owing to busy lifestyles and consumer preference for convenience should stimulate the demand for flexible packaging and drive the UV curable resins market trends.
 

The region witnesses significant R&D investment for the development of new photoinitiators technology which may lead to the development of new UV curable resins. Changing consumption patterns of consumers along with an increase in the population of working professionals has resulted in increasing consumption of packaged and canned food products thus fostering the UV cured resin market.
 

Acquisitions and partnerships to remain key business strategies by market players

This curable resins industryis moderately fragmented with key market players including Arkema, Allnex Toagosei, BASF, Covestro, Royal DSM, Hitachi Chemical Company, Nippon Gohsei. Companies are incorporating strategies including mergers & acquisitions, and partnerships to expand product portfolio and improve market share. For instance, In September 2016, Allnex acquired resins manufacturer Nuplex Industries. This will help the company to expand its portfolio.
 

UV curable resins market report includes in-depth coverage of the industry trends, with estimates & forecast in terms of Kilo Tons and revenue (USD Million) from 2015 to 2026, for the following segments:

By Composition

  • Monomers
  • Oligomers
  • Photoinitiators
  • Additives

By Raw Material

  • Epoxy acrylates
  • Polyester Acrylates
  • Urethane Acrylates
  • Others

By Product

  • Industrial coating
  • Adhesives
  • Inks
  • Others

By Front-Industry

  • Automotive
  • Wood Industry
  • Ship Building
  • Graphic Arts
  • Electronics
  • Plastic & Packaging
  • Others

The above information has been provided for the following regions & countries:

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Poland
    • Russia      
  • Asia Pacific          
    • China
    • India
    • Japan
    • South Korea
    • Thailand
    • Malaysia
    • Indonesia
  • Latin America
    • Brazil        
  • Middle East & Africa
    • South Africa
    • UAE
    • Saudi Arabia

 

Frequently Asked Questions (FAQ) :

According to the report published by Global Market Insights Inc., the polymer nanocomposites business is supposed to attain $31 billion by 2025.
Increasing product demand in packaging and automotive industry, rising research and development activities related to nanotechnology across the world and superior product characteristics compared to synthetic polymers are major factors expected to drive the growth of global market.
Arkema, RTP Company, Nanocyl SA, Unitika Ltd, Evonik Industries, Mineral Technology, Inc., Hybrid Plastics, Inc., Nylon Corporation of America, Inc, 3M, Ad-Nano Technologies Private Limited, Nanophase Technologies Corporation, Nanoshel are some of the top contributors in the industry.
The Monomers based composition registered the highest market share in 2019 and is projected to record a remarkable growth rate throughout the forecast period.

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Premium Report Details

  • Published Date: Jun 2020
  • Pages: 240
  • Tables: 305
  • Charts / Figures: 20
  • Companies covered: 12
  • Countries covered: 21

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