Photocurable Resins Market: Introduction
- Photocurable resins are generally used in stereolithography systems. They can also be used in microstereolithography systems.
- Photocurable resins typically consist of a photoinitiator for initiation of the cross reaction, monomers or oligomers as main components, and various additives for other purposes
- Photocurable resins are used in medical applications, as they are compatible with biodegradable polymers
Photocurable Resins Market: Segments
- The photocurable resins market can be segmented based on type, application, and region
- Based on type, the photocurable resins market can be divided into monomers, oligomers, and photoinitiaters
- In terms of application, the photocurable resins market can be segregated into medical, electronics, coatings, adhesives, composites, and others
COVID-19 Impact on Photocurable Resins Market
- The COVID-19 pandemic has adversely affected various sectors of economies across the globe. Key segments of manufacturing have been shut down in several countries across the globe, in response to lockdown orders issued by governments of these countries. Production capacities of key players operating in the photocurable resins market have been hampered during the pandemic.
- Photocurable resins are largely used in coating applications. They are used for preparing coatings, industrial coatings, and adhesives. The COVID-19 pandemic has affected the demand for coatings due to the imposition of lockdowns across the globe. There has been a demand-supply gap and disruption in supply chain of the coatings industry, which is one of the largest consumers of photocurable resins. Demand for photocurable resins for preparing inks and adhesives has been severely impacted due to lockdowns. Sale, purchase, and usage of photocurable resins has decreased significantly in many application segments owing to the months of lockdowns and retail business closures.
Asia Pacific to Dominate Photocurable Resins Market
In terms of geography, the global photocurable resins market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa
- China, India, Japan, and Singapore are leading the photocurable resins market in Asia Pacific due to the increase in demand for environmentally friendly products in these countries
- North America is the emerging region of the global photocurable resins market. The photocurable resins market in Europe, particularly in countries such as the U.K., Germany, and France, has been expanding significantly due to rapid industrialization. Norway and the Netherlands are also expected to contribute significantly to the photocurable resins market in Europe.
- Demand for photocurable resins is estimated to increase in Latin America and Middle East & Africa in the near future
Key Manufacturers Operating in Global Photocurable Resins Market
- Major players have prominent presence in developed and developing countries. Key manufacturers operating in photocurable market include:
- Cytec
- Sartomer
- Eternal Material Company Ltd.
- BASF SE
- Arkema
- IGM Resins
Global Photocurable Resins Market: Research Scope
Global Photocurable Resins Market, by Type
- Monomers
- Oligomers
- Photoinitiaters
Global Photocurable Resins Market, by Application
- Medical
- Electronics
- Coatings
- Adhesives
- Composites
- Others
Global Photocurable Resins Market, by Region
- North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
