UV Curable Resins & Formulated Products Market

UV Curable Resins and Formulated Products Market – Overview

Polymerized materials UV curable resins and formulated products that are cured in short period of time with the help of energy that is extracted and then radiated from irradiation devices providing ultraviolet rays. UV curable resins and formulated products are used mostly in industrial materials for various purposes such as coating, bonding, and sealing. They are also used in the ink and adhesive industry and paints and coatings industry. Ultraviolet curable resins and formulated products are considered the best choice for curing and quick drying. The increasing demand for these products from the industries listed above are considered the key drivers augmenting the growth of the global UV curable resins and formulated products market during the forecast period, 2021 to 2031.

The global UV curable resins and formulated products market faced major challenges during the COVID19 pandemic especially during the beginning phases. Hubei and Wuhan provinces in China are the leading manufacturing hub for IV curable resins and formulated products. Thus, at the time of COVID 19 pandemic when the entire world was under stringent lockdown restrictions, these two provinces faced major backlash and the supply chain went down. The demand for UV curable resins and formulated products also decreased at the time of lockdown, but is now eventually gaining significant growth rate on account of decreasing advent of coronavirus cases, advent and adoption of vaccine, upliftment of lockdown rules and industries getting back to business.

The report on the global UV curable resins and formulated products market provides a thorough analysis of the market and its prime growth trajectories. This includes drivers, restraints, challenges, and new growth opportunities. This report also enlists the table of segmentation and highlights the key segments with supported factors. Besides this, the report also mentions the key innovations, product quality improvement, and other strategies adopted by players operating in this market and how they will benefit the revenue rates in the foreseeable future. All other information about this report is provided in the company website.

UV Curable Resins and Formulated Products Market – Competitive Landscape

The nature of market for UV curable resins and formulated products is consolidated owing to the presence of a few players. With the key objective of earning the highest revenues, players are engaging in joint ventures and merger and acquisition strategies. Besides this, some players are also investing in research and development of better UV curable resins and formulated products to gain a competitive edge in the overall market competition.

Some of the key players of the global UV Curable Resins and Formulated Products market include:

• GM Resins
• Miwon Specialty Chemical Co.Ltd.
• Covestro AG
• Alberdingk Boley GmbH
• Showa Denko Materials Co. Ltd.
• Wanhua Chemical Group Co. Ltd.
• BASF SE
• Allnex Netherlands B.V.
• Other players

UV Curable Resins and Formulated Products Market – Growth Drivers

UV coatings dry at a faster rate in comparison to other coatings and are therefore high in demand from various application industries. Besides this, the development of improved and latest photo initiators such as improved solubility and expanded photosensitive wavelength band also increases its performance, thus acting as another key growth driver for the global UV curable resins and formulated products market. On the contrary, high cost of setup for UV curable resins and production units may serve as a major factor hindering the overall growth of this market. Nevertheless, intensive research and development technologies and the advent of new UV curing technology photo initiators are likely to help create new growth opportunities for the overall growth of this market in the foreseeable future.

UV Curable Resins and Formulated Products Market – Geographical Insights

Demographically, the market was dominated by Asia Pacific with the highest revenue generated from China and this is likely to continue throughout the forecast period as well. This is attributed to high market expansion of UV curable resins and formulated products in countries such as Malaysia, India, South Korea, Japan, Vietnam, and China.