UV Curable Resin Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The UV Curable Resin Market is segmented by Resin Type (Acrylated Epoxies, Acrylated Polyesters, Acrylated Urethanes, Acrylated Silicones, and Others), Application (Coating, Printing, Adhesives and Sealants, and Others), Composition (Monomers, Photoinitiators, Oligomers, and Coinitiators), End-user Industry (Electronics, Industrial Coatings, Medical, Automotive, and Packaging), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa)

UV Curable Resin Market Snapshot

UV Curable Resin Market Size
Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: 7 %
UV Curable Resin Market Key Player

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Market Overview

The market for UV curable resin market is expected to grow at a CAGR of greater than 7%. Major factors driving the market studied are increased usage of environment-friendly industrial coatings and rising demand for UV curable resins in packaging applications. High initial capital cost along with unfavourable conditions arising due to COVID-19 outbreak are restraining the market growth.

  • Increasing applications in 3D printing, digital printing and printed circuits offer various lucrative opportunities for the growth of the market.
  • Acrylated epoxies is predicted to dominate the segment compared to other resins on account of good adhesion and outstanding corrosion resistance.
  • Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the consumption from countries such as China, India, and Japan.

Scope of the Report

The UV Curable Resin Market report includes:

By Resin Type
Acrylated Epoxies
Acrylated Polysters
Acrylated Urethanes
Acrylated Silicones
Others
By Composition
Monomers
Photoinitiators
Oligomers
Coinitiators
By Application
Coating
Printing
Adhesives and Sealants
Others
By End-user Industry
Electronics
Industrial Coatings
Medical
Automotive
Packaging
By Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East & Africa

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Key Market Trends

Increasing Demand for Acrylated Epoxies and Urethanes

  • Acrylated epoxies dominates the global UV curable resin market. It has rapid cure rates and good adhesion and is widely used in paints and varnishes. Additionally, they have outstanding corrosion resistance. Acrylated urethanes is anticipated to gain significant growth. This type of resins has excellent film hardness, elasticity and cure speed based on the prepolymer used. They are extensively used in resilient floor coatings and as coatings for flexible packaging on account of their superior durability and flexibility.
  • Owing to such properties, major applications of these resins are in the coating (wood, paper, plastics, and metal), industrial (packaging, optoelectronics, and adhesives), graphics art (printing inks, plates, and overprint varnishes) and automotive.
  • Increased application of these resins in 3D printing, barrier films, digital printing, packaging, and printed circuit is expected to boost the growth of the market. 3D printing materials with high flexibility, processability, and stability is likely to create more opportunities in future.
  • Industrial sector and eco-friendly products are key consumers for UV curable resins. The increasing significance of safe, odor-free, sustainable and green materials by various government regulatory authorities globally has resulted in the surge in the demand.
UV Curable Resin Market Share

Asia-Pacific Region to Dominate the Market

  • Rapid industrialization in Asia Pacific is expected to drive the market growth in this region. The growth of industries such as paints & coating, construction, electrical & electronics, and automotive in the region will result in the growth of UV curable resins.
  • An economic slowdown in China has led to the shift of foreign investment in other Southeast Asian countries, resulting in growth of these industries.
  • Owing to industrialization, the packaging sector is evolving at a rapid pace. Attributable to its instant drying properties, the usage of UV curable resins in the packaging industry is rising.
  • Also, the automotive industry consumes UV curable resins in automotive part for finishes and is anticipated to boost the growth of market. Asia-Pacific is anticipated to hold more than 30% of global curable resin market share with the largest consumption coming from developing and emerging countries such as China, Malaysia, India, Thailand, Indonesia, Brazil, Sri Lanka, among others.
  • The aforementioned factors, along with supportive government regulations is contributing to the increased demand for UV curable resins in the region.
UV Curable Resin Market Trends

Competitive Landscape

The global UV curable resin market is fragmented, with both major and minor competitors. Some of the major companies include Arkema Group, BASF SE, Covestro AG, Hitachi Chemical Co., Ltd., DSM, and Allnex are among the major key players.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increase in Use of Environment-Friendly Industrial Coatings

      2. 4.1.2 Rising Demand for UV Curable Inks in Packaging Application

    2. 4.2 Restraints

      1. 4.2.1 High Initial Capital Cost

      2. 4.2.2 Unfavourable Conditions Arising Due to COVID-19 Outbreak

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Resin Type

      1. 5.1.1 Acrylated Epoxies

      2. 5.1.2 Acrylated Polysters

      3. 5.1.3 Acrylated Urethanes

      4. 5.1.4 Acrylated Silicones

      5. 5.1.5 Others

    2. 5.2 By Composition

      1. 5.2.1 Monomers

      2. 5.2.2 Photoinitiators

      3. 5.2.3 Oligomers

      4. 5.2.4 Coinitiators

    3. 5.3 By Application

      1. 5.3.1 Coating

      2. 5.3.2 Printing

      3. 5.3.3 Adhesives and Sealants

      4. 5.3.4 Others

    4. 5.4 By End-user Industry

      1. 5.4.1 Electronics

      2. 5.4.2 Industrial Coatings

      3. 5.4.3 Medical

      4. 5.4.4 Automotive

      5. 5.4.5 Packaging

    5. 5.5 By Geography

      1. 5.5.1 Asia-Pacific

        1. 5.5.1.1 China

        2. 5.5.1.2 India

        3. 5.5.1.3 Japan

        4. 5.5.1.4 South Korea

        5. 5.5.1.5 Rest of Asia-Pacific

      2. 5.5.2 North America

        1. 5.5.2.1 United States

        2. 5.5.2.2 Canada

        3. 5.5.2.3 Mexico

      3. 5.5.3 Europe

        1. 5.5.3.1 Germany

        2. 5.5.3.2 United Kingdom

        3. 5.5.3.3 Italy

        4. 5.5.3.4 France

        5. 5.5.3.5 Rest of Europe

      4. 5.5.4 South America

        1. 5.5.4.1 Brazil

        2. 5.5.4.2 Argentina

        3. 5.5.4.3 Rest of South America

      5. 5.5.5 Middle-East and Africa

        1. 5.5.5.1 Saudi Arabia

        2. 5.5.5.2 South Africa

        3. 5.5.5.3 Rest of Middle-East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Allnex

      2. 6.4.2 Arkema Group

      3. 6.4.3 BASF SE

      4. 6.4.4 Covestro AG

      5. 6.4.5 DIC CORPORATION

      6. 6.4.6 DSM

      7. 6.4.7 Dymax Corporation

      8. 6.4.8 Eternal Materials Co.,Ltd.

      9. 6.4.9 Hitachi Chemical Co., Ltd.

      10. 6.4.10 IGM Resins

      11. 6.4.11 Jiangsu Litian Technology Co., Ltd

      12. 6.4.12 Nippon-Gohsei

      13. 6.4.13 SOLTECH LTD.

      14. 6.4.14 TOAGOSEI CO., LTD.

      15. 6.4.15 Wanhua Chemical Group Co.,Ltd.

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increasing Application in 3D printing, Digital Printing and Printed Circuits

    2. 7.2 Others

**Subject to Availability

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Frequently Asked Questions

The UV Curable Resin Market market is studied from 2016 - 2026.

The UV Curable Resin Market is growing at a CAGR of 7% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2021.

BASF SE, Covestro AG, Arkema Group, Hitachi Chemical Co., Ltd., DSM are the major companies operating in UV Curable Resin Market .

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