Global UV Curable Resin Market – Overview
UV curable resin is a polymerized material. The resin is cured through energy radiated by ultraviolet devices. The use of these UV curable resins is primarily for the production of coatings and inks. They are also used raw materials in bonding and sealing. As mentioned earlier, UV curable resin is mainly used in production of coatings as it provides superior chemical resistance and has a better and faster curing time.
Get an idea about the offerings of our report from Report Brochure
Global UV Curable Resin Market – Notable Developments
Some of the key developments in the global UV curable resin market are listed below:
- In December 2016, BASF SE announced that the company has decided to expand is UV curable resin portfolio. The company did so by including five brand new standard epoxy acrylates from the product family of Laromer EA. These new products will be used for the production of radiation curable printing inks and coatings.
- Recently, DSM announced a strategic partnership with Nanjing Cosmos Chemical Co. Ltd. This partnership plans to develop and expand their UV filters segment.
Global UV Curable Resin Market – Drivers and Restraints
There are various macro and micro-economic factors that are contributing to the growth of the global UV curable resin market. The biggest driving factor for the growth of the global market has been the increasing adoption of environment-friendly coatings. The governments across the globe are issuing strict guidelines over the use of carbon-free coatings. These factors have worked in favor of UV curable resin and have thus helped in their increased adoption across the globe.
In addition to this, there has been a considerable rise in the demand for UV curable inks from the packaging industry. This has directly reflected on the overall growth of the global market.
However, there are some factors that may stop the UV curable resin market to reach its full potential. One key restraining factor is the limited depth of light penetration allowed by the UV curable resin. The depth of light penetration depends upon the spectral and wavelength distribution. In case of UV curable resin, this distribution does not exceed more than a few millimeters. This has thus restricted the use of UV curable resins to the production of inks, adhesives, and coatings.
On the upside, the growth of the market is slowly gathering pace. This is defined by the increasing R&D activities across the globe that are testing its usage in barrier films, packaging, printed circuit, and 3D printing among others. This is expected to create ample opportunities for the development of UV curable resin market.
Looking for Regional Analysis or Competitive Landscape in UV Curable Resin market, ask for a customized report
Global UV Curable Resin Market – Geographical Outlook
The global UV curable resin market has five major geographical segments viz. North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Of these, the global market is expected to be dominated by the Asia Pacific region over the course of the given forecast period of 2019 to 2027. The growth of Asia Pacific is primarily attributed to the recent developments in the paints and coatings industry. The technological and product advancements in this sector has had a particular impact on the demand for UV curable resins and has thus helped in the growth of its market in the region. In addition to this, the developments and growth of the automotive sector in Asia Pacific has also helped in the development of UV curable resin market in the region.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.