The global UV curable resins & formulated products market is expected to grow from USD 4.6 billion in 2021 to USD 7.3 billion by 2026, at a CAGR of 9.7% during the forecast period. 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 presence of VOCs in a coating’s formulation or during application and the drying processes is undesirable because of hazardous air pollutants (HAP) and negative effects on workers. VOCs are usually formaldehyde and organic solvents. In recent years, coating formulators and manufacturers have been seeking environmentally friendly green coating alternatives that have similar or better performance than the conventional solvent-borne systems because of government regulations and public environmental awareness and concerns. UV curable resins have many advantages, such as little-to-no VOC, low odor, non-toxicity, non-skin irritation, and safer production.
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Browse 282 market data Tables and 40 Figures spread through 217 Pages and in-depth TOC on "UV Curable Resins and Formulated Products Market by Composition (Oligomers, Monomers, Photoinitiators, Additives), Chemistry (Non-acrylated Oligoamines, Acrylate Oligomers), Application, Technology, and Region - Global Forecast to 2026"
Companies operating in the UV curable resins and formulated products market have strengthened their position in the global UV curable resins and formulated products market by adopting expansions, partnerships, agreements, new product/technology launches, joint ventures, contracts, and mergers & acquisitions from 2016-2021. However, the novel coronavirus pandemic has created ripples across the global supply chains. These factors have affected the demand for UV curable resins and formulated products. The demand is expected to recover bounce with natural gas and fuel cell vehicles sales picking up momentum by 2021.
Allnex Netherlands B.V. (Germany), Alberdingk Boley GmbH (Germany), BASF SE (Germany), Covestro AG (Germany), Wanhua Chemical Group Co., Ltd. (China), Miwon Specialty Chemical Co. Ltd. (South Korea), Showa Denko Materials Co., Ltd., (Japan), IGM Resins (Netherlands), are some of the key players in the UV curable resins and formulated products market.
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Allnex Netherlands B.V. is an independent company that came into existence through the divestiture of the coating resins business from Cytec in 2013. It is one of the leading global producers of coating resins. The company also supplies resins and additives for industrial, protective, architectural, automotive, and special purpose coatings and inks. It offers innovative liquid resins & additives, radiation cured and powder coating resins & additives, and cross linkers that are used on metal, plastic, wood, and other surfaces. The company operates through its 33 manufacturing and 23 research & technology support facilities globally.
BASF SE is one of the leading chemical companies that produces and sells a wide range of chemicals and intermediate solutions. It operates through six business segments that include chemicals, materials, industrial solutions, surface technologies, agricultural solutions, and nutrition & care. BASF’s chemicals segment comprises the intermediates, inorganics, and petrochemicals divisions. The company, under its petrochemicals division, offers various acrylic monomers. BASF operates globally through its subsidiaries in 80 countries with six verbund (integrated) sites and approximately 380 production sites. It primarily operates in Europe and has an active presence in North America, APAC, South America, Africa, and the Middle East.
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.
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.
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UV curable resins are the one's resins that contain much less dangerous emissions, rapid cure (excessive productivity), much less electricity consumption, much less system space, low temperature treatment, and waste reduction.
UV curable resins do now no longer include any natural solvents that damage the environment.
These resins consist of monomers, oligomers, co-initiators, photo-polymerization, and diverse components which include antioxidants, stabilizers, pigments, and plasticizers.
UV curable resins are utilized in a huge variety of packages with inside the ink and coating and adhesive industries.
UV curable resins are the maximum desired alternative for packages with rapid-curing and rapid-drying requirements.
Low price systems related to the production of UV curing resins alongside technological improvement have helped pressure boom of the market for UV curable resins and formulated products.
UV curable resins used mainly in the production of coating, links and adhesives etc, whose end-user are the graphic arts, industrial coatings, electronics and other industry.The UV curable resins industry concentration is not high; there are many manufacturers in the world, and they are mainly distributed in North America, EU, Asia Pacific and China.
UV curable resins industry has long history.All manufacturers in the world are committed to the improvement of product.
In recent years, North America and EU markets are shrinking but China market is expanding.Download FREE Sample of this Report @ https://www.24chemicalresearch.com/download-sample/33556/global-uv-curable-resins-2019-2024-236 According to this study, over the next five years the UV Curable Resins market will register a 2.6% CAGR in terms of revenue, the global market size will reach US$ 2970 million by 2024, from US$ 2610 million in 2019.
In particular, this report presents the global market share (sales and revenue) of key companies in UV Curable Resins business, shared in Chapter 3.This report presents a comprehensive overview, market shares, and growth opportunities of UV Curable Resins market by product type, application, key manufacturers and key regions and countries.
This study considers the UV Curable Resins value and volume generated from the sales of the following segments:UV Curable Resins Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
AmericasUnited StatesCanadaMexicoBrazilAPACChinaJapanKoreaSoutheast AsiaIndiaAustraliaEuropeGermanyFranceUKItalyRussiaSpainMiddle East & AfricaEgyptSouth AfricaIsraelTurkeyGCC Countries VIEW the Complete Report @ https://www.24chemicalresearch.com/reports/33556/global-uv-curable-resins-2019-2024-236UV Curable Resins report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market.
