Global UV-cured Resins & Formulated Products Market: Overview
UV-cured Resins & formulated products are products polymerized and cured using the energy from UV radiations. The speed of curing of these resins is high and they can be cured at lower temperatures. Moreover, they do not emit odor and volatile organic compounds (VOCs), unlike solvent-based resins. These are widely used in applications such as printing inks, coatings, and adhesives. Stringent regulations regarding VOC emissions in Europe and North America and rise in the demand for safe, eco-friendly, and sustainable products are likely to drive the demand for UV-cured Resins & formulated products market during the forecast period.
Global UV-cured Resins & Formulated Products Market: Key Segments
The UV-cured Resins & formulated products market can be segmented based on composition, chemistry, technology, and application. In terms of composition, the UV-cured Resins & formulated products market can be divided into monomers, oligomers, additives, and photo initiators. The oligomers segment is projected to dominate the UV-cured Resins & formulated products market during the forecast period. Based on chemistry, the UV-cured Resins & formulated products market can be classified into epoxy, polyester, urethanes, acrylates, and others. In terms of technology, the UV-cured Resins & formulated products market can be segregated into water-borne UV, solvent-borne UV, 100% solid UV, and powder UV. Based on application, the UV-cured Resins & formulated products market can be segmented into coatings, overprint varnishes, printing inks, 3D printing, adhesives, and others. The coatings segment can be sub-classified into wood & paper coatings, metal coatings, and plastic coatings.
Global UV-cured Resins & Formulated Products Market: Regional Outlook
Geographically, the global UV-cured Resins & formulated products market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is the leading consumer of UV-cured Resins & formulated products market in the world. The UV-cured Resins & formulated products market in the region is led by India and China, which are among the rapidly growing economies in the world. The region is a major for UV-cured Resins & formulated products market. It is expected to be the rapidly expanding UV-cured Resins & formulated products market during the forecast period. North America is the second-largest consumer of UV-cured Resins & formulated products across the globe. Europe is also a significant consumer of UV-cured Resins & formulated products market. Latin America and Middle East & Africa are relatively small markets, but the two regions are likely to offer lucrative growth opportunities to the UV-cured Resins & formulated products market in the near future.
Global UV-cured Resins & Formulated Products Market: Key Players
Some of the key players operating in the global UV-cured Resins & formulated products market are Arkema Group (France), llnex Group (Germany), Royal DSM (the Netherlands), Nippon Gohsei (Japan), Covestro AG (Germany), IGM Resins B.V. (the Netherlands), Hitachi Chemical Company Ltd., Dymax Corporation (the U.S.), Toagosei Co. Ltd. (Japan), Miwon Specialty Chem Co. Limited (South Korea), Double Bond Chemical Ind. Co. Ltd., Jiangsu Sanmu Group Corporation, and BASF SE (Germany).
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