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Global UV Curable Resins and Formulated Products Market InsightJanuary 20, 2022 Comments
The UV Curable Resins and Formulated Products is forecast to fast increase over the next four years.According to the WK-chem Research “Global UV Curable Resins and Formulated Products Professional Survey Report 2022, Forecast to 2027”, The Ultra Violet (U.V.) Curable Resins and Formulated Products are material that are polymerized and cured in a short duration by the energy radiated from ultraviolet irradiation devices. These are especially used as industrial materials for sealing, bonding, and coating.Due to the non-solvent nature, the U.V. resins enable good workflow and strong ability. There are a numerous variety of cured features available.The compound annual growth rate (CAGR) for the 2022-2027period is projected to be 9.7% base on WK-chem Research regression analysis model.
“The prejudice of customers towards UV curable resins and formulated products has affected the development of the market. Therefore, it is recommended that manufacturers promote the advantages of UV curable resins and formula products, so that more people can understand the products.”Said John, Senior analyst, Chemical industry Market Research Center in WK-chem Research.
The major advantage offered by waterborne UV curable coatings is that the end user/applicator has a larger time window to work within the application process. Another added benefit of these coatings over traditional solvent coatings is drying time. When combined with heat and good air movement, waterborne UV coatings dry quickly. Once the water is removed from the coating, which usually takes four to seven minutes, depending on the coating and drying equipment, the coating can be cured with UV light. Once cured, the parts can be stacked, sanded, or handled without blocking, thus increasing production in a smaller footprint. Cleanup is easily possible by flushing the coating with water. A secondary rinse can be undertaken if any stubborn and dried deposits of materials remain.The creation of new and improved photoinitiators in the UV curable resins industry is thought to be a relatively new phenomenon. Improvements like expanded photosensitive wavelength band and improved solubility of photoinitiators are integrated with standard photoinitiators to increase their performance. Developing new UV curing technology photoinitiators needs an enormous effort in R&D. Innovation in these products can assist in developing more efficient curable resins and boost the breadth of products to be cured across end-use sectors.Government initiatives emphasizing on adoption of clean fuel and growth in number natural and fuel cell electric vehicles are expected to drive the market.
The high cost of setting up UV curable resins manufacturing plants has been identified as a major restraint in the UV curable resins market. It is seen that the initial cost of formulating equipment can be higher than the cost incurred on conventional coating technologies. Also, the UV curing machine is costlier than the conventional one. The intensity of this challenge is especially higher in Asian countries, as they are more cost-sensitive. The UV coating industry faces several environmental challenges due to the increasing focus on meeting state and local regulations for wastewater discharge. Powder UV coating operations have a considerable amount of metals, oil & grease, and suspended solids in their wastewater streams generated during the cleaning and pretreatment phases. It becomes difficult for powder UV coating manufacturers to meet the state and local environmental regulations because of their wastewater streams. Metal finishing companies that use various electroplating processes face problems in adhering to regulations due to heavy metal contamination.Hence, the high cost of setting up these manufacturing plants hampers the UV curable resins market growth.
This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading UV Curable Resins and Formulated Products companies that include DAllnex Group, Arkema SA, Royal DSM, Covestro AG, Nippon Gohsei, Hitachi Chemical Company Ltd., IGM Resins B.V., Toagosei Co. Ltd., Miwon Specialty Chemical Co. Ltd., and BASF SE.
Segmentation of UV Curable Resins and Formulated Products Market:
Based on Composition, the market is divided into Monomers, Oligomers, Additives, and Photo-initiators. Oligomers comprises a major share in composition type in terms of value.Oligomers are high molecular weight and high viscosity UV curing materials. They are produced using several different backbone building chemistries, such as polyester acrylates, epoxy acrylates, urethane acrylates, and acrylic acrylates. Oligomers impart most of the basic properties to the UV curing formulation. The overall properties of printing inks, adhesives, coatings, and binders crosslinked by radiant energy are determined mainly by the type of oligomers used in the chemical formulation.Based on Application, the market is segmented into Coating, 3D Printing, Overprint Varnishes, Printing Inks, Adhesives, Others.Coatings application dominates the market in the global UV curable resins and formulated products market during the forecast period in terms of value and volume.In the coatings industry, UV curable coatings technology is one of the fastest-growing segments, driven mainly by the “going green” trend and its increasing applications in various industries.UV curable resins and formulated products are widely used in coatings application. The use of UV coatings has increased significantly during the last decade in the electronics industry in mobile phones, laptops, and game console coatings. The main reason for this growth is the excellent performance that can be achieved with UV coatings, especially, good wear resistance, outdoor durability, and resistance against household chemicals. With an increasing demand for high performance and long-lasting electronic components, combined with the global shift toward more environmentally friendly coating technology, the use of waterborne UV technology is expected to witness excellent growth.
UV Curable Resins and Formulated Products Market: Regional Analysis
In terms of geography, the Global UV Curable Resins & Formulated Products Market is classified into North America, Europe, Asia Pacific, and Rest of the world.APAC is expected to account for the largest market share in the UV curable resins and formulated products market during the forecast period.APAC is the largest UV curable resins and formulated products market in terms of both value and volume. The UV curable resins and formulated products market in APAC is segmented into China, Japan, South Korea, India, Vietnam, Malaysia, and Rest of APAC. It is one of the world’s fastest-growing markets for UV curable resins and formulated products. The market is projected to register a high CAGR in the next five years. The region offers significant commercial opportunities for the growth of the UV curable resins and formulated products market.
Largest share area：Asia Pacific
Largest share country：China
Product Type：Monomers, Oligomers, Additives, Photo-initiators
Application：Coating, 3D Printing, Overprint Varnishes, Printing Inks, Adhesives, Others
Leading Company：DAllnex Group, Arkema SA, Royal DSM, Covestro AG, Nippon Gohsei