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The global UV Curable Resins & Formulated Products Market size is estimated to be USD 4.2 billion in 2020 and is projected to reach USD 6.6 billion by 2025, at a CAGR of 9.5% during the forecast period.
Government regulations in Europe and North America, especially that concerning air pollution, will continue to drive the adoption of the low-emission UV curing technology over the next 5 years.
Allnex (Germany), Alberdingk Boley (Germany), Toagosei (Japan), BASF (Germany), DSM-AGI (Netherlands), Covestro (Germany), Nippon Gohsei (Japan), Hitachi Chemical Company (Japan), IGM Resins (Netherlands), and Miwon Specialty Chemical (South Korea) are the key leading players of the market.New product launches, expansions, and mergers & acquisitions are the key strategies adopted by the industry players to grow in the UV curable resins & formulated products market.
The rising demand for environment-friendly wood coatings and the high growth of the plastic coatings industry in developed countries is encouraging companies to adopt these strategies.
Market players are focusing on entering new markets by launching technologically advanced and innovative resins for different applications.
The product is expected to serve a multitude of application segments, including automotive and industrial plastics, plastic films and sheets, consumer electronics, and flooring.In September 2016, Allnex and Nuplex Industries collaborated to form one company.
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