UV Curable Resins & Formulated Products: Introduction

  • UV curable resins & formulated products are polymerized and cured using the energy from UV radiations. The speed of curing of these resins is high. They can also be cured at lower temperatures. UV curable resins & formulated products do not emit odor and volatile organic compounds (VOCs), unlike solvent-based resins. They are widely used in applications such as printing inks, coatings, and adhesives.

Key Drivers of Global UV Curable Resins & Formulated Products Market

  • The market for UV curable resins & formulated products is expected to expand at a significant pace during the forecast period. Rise in demand for these products in coatings & 3D printing applications is driving the UV curable resins & formulated products market.
  • Stringent regulations regarding VOC emissions in Europe and North America and rise in demand for safe, eco-friendly, and sustainable products are likely to drive the demand for UV curable resins & formulated products during the forecast period
  • UV curable resins & formulated products are used in the production of inks, paints & coatings, and adhesives. They are also utilized as catalysts and stabilizers for the chemical production process. Furthermore, paints & coatings companies are continuously investing in research & development activities to introduce advanced solutions for various type of coatings. UV curable resins & formulated products play a significant role in the formulation of advanced coatings.

Waterborne Technology Segment to Dominate Global Market

  • Waterborne UV curable resins have been developed of late to reduce the use of VOC and reactive diluents. Water is used as a diluent or dispersing medium in these coatings, as it can decrease air pollution and improve occupational health and safety. It is easier to control the viscosity of water-based formulations.
  • Increase in demand for waterborne products is expected to boost the market share of the technology, owing to various government regulations on the use of solvent-borne products due to environmental concerns

Coatings Application Segment to Dominate Global Market

  • The coatings application segment is expected to continue to lead the UV curable resins & formulated products market, as the physical and chemical properties of the UV chemistry permit excellent gloss and viscosity control, and therefore, the application is easy with minimal or no process issues with VOCs/HAPs
  • The UV curing technology has outperformed the coatings market growth consistently over a period of time, and has turned out to be sustainable and high growth technology in the coatings industry. High demand for UV curable coatings can be primarily ascribed to their strong performance and excellent environmental & safety profile.

High Establishment Cost for Manufacture of UV Curable Resins to Restrain Global Market

  • High establishment cost of manufacturing plants of UV curable resins is a major restraint of the UV curable resins & formulated products market. The initial cost of formulating equipment can be higher than the cost incurred for conventional coating technologies. The UV curing machine is costlier than the conventional one. The intensity of this challenge is especially higher in Asia, as countries in the region are more cost sensitive.

Covid-19 Impact on UV Curable Resins & Formulated Products Market

  • Restricted trade and the shortage in supply of raw materials from China-based manufacturers due to COVID-19 pandemic have resulted in a severe demand-supply gap for various products including UV curable resins & formulated products. Manufacturers are expected to be stranded on raw material orders owing to the logistics industry being significantly impacted due to lockdowns amid the COVID-19 pandemic.
  • Producers are anticipated to move away from China in order to lower the risks that would affect the business and reduce manufacturers' cluster in a single country in order to smoothen the supply chain

Asia Pacific to Hold Significant Share of Global UV Curable Resins & Formulated Products Market

  • In terms of region, the global UV curable resins & formulated products market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific accounted for the major share of the UV curable resins & formulated products market in 2020. Evolving environmental & regulatory scenario, increasing consumer awareness, and pressure from flagship companies willing to improve the environmental performance of their supply chain have boosted the demand for UV curable resins & formulated products in Asia Pacific.
  • Growth in production of automobiles and rise in investments in building & construction activities are anticipated to augment the demand for UV curable resins & formulated products in Asia Pacific
  • Expansion of automotive and construction sectors in North America is expected to increase the preference for UV curable resins & formulated products in the region. Stringent regulations in North America and Europe and increasing environmental concerns are projected to propel the UV curable resins & formulated products in these regions.

Key Players Operating in Market

Companies are expected to invest significantly in research & development activities. Collaborations are also scheduled to emerge as one of the strategic initiatives adopted by companies engaged in new product development. Capacity expansion and new product launches are prevalent in the industry. Key players operating in the global UV curable resins & formulated products market include:

  • Allnex Netherlands B.V.
  • Alberdingk Boley GmbH
  • DSM
  • Covestro AG
  • Arkema Group
  • Nippon Gohsei
  • Dymax Corporation

Global UV Curable Resins & Formulated Products Market: Research Scope

Global UV Curable Resins & Formulated Products Market, by Composition

  • Oligomers
  • Monomers
  • Photoinitiators
  • Additives
  • Others

Global UV Curable Resins & Formulated Products Market, by Technology

  • Solvent-borne
  • Waterborne
  • Powder
  • Others

Global UV Curable Resins & Formulated Products Market, by Application

  • Coatings
  • Overprint Varnish
  • Printing Inks
  • Adhesives
  • 3D Printing
  • Others

Global UV Curable Resins & Formulated Products Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.

The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.

All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:

  • Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
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The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to

  • North America, South America, and the Americas
  • Asia Pacific and Japan
  • Europe
  • Latin America
  • Middle East and Africa

The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:

  • What are the major recent trends that can influence the product life cycle and the RoI?
  • Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
  • Which micromarketing initiatives of leading players will bring in investments?
  • What can be the best framework and tools for PESTLE analysis?
  • Which regions will witness rise in new opportunities?
  • Which are the game-changing technologies being used to capture new revenue streams in the near future?
  • Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
  • What is the current and expected intensity of competition the market in the near future?

Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.

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UV Curable Resins & Formulated Products Market