< Key Hightlight >

The global UV curable resins and formulated products market size is projected to grow from USD 4.6 billion in 2021 to USD 7.3 billion by 2026, at a compound annual growth rate (CAGR) of 9.7% between 2021 and 2026.  UV curable resins and formulated products composed of a base resin (oligomers) formulated with monomers, additives, and photoinitiators. However, the negative impact of the COVID-19 pandemic on the end-use applications has affected the UV curable resins and formulated products market adversely. 

 “Additives is the fastest-growing composition segment in the UV curable resins and formulated products market in terms of both value and volume.” 

Additives composition type is projected to register the highest CAGR in terms of value between 2021 and 2026. Additives are used in the UV formulation to promote flow and other properties such as leveling and cratering. Stabilizers are the most commonly used additives, which prevent gelation in premature curing and storage caused by low light exposure. Color pigments, defoamers, dyes, adhesion promoters, wetting agents, flatting agents, and slip aids are some of the examples of the additives commonly used in applications such as coatings, adhesives, printing inks, and overprint varnishes

“Acrylate Oligomers is the largest chemistry type of UV curable resins and formulated products in terms of value and volume.” 

Acrylate oligomers are rapidly growing and are a viable choice of UV curable resins for several end uses such as wood floors, kitchen cabinets, and furniture. They are also used in hardwood & resilient flooring, ski & snowboard coatings, and coatings for premium & medium-priced point furniture. Urethane acrylates offer high-end performance with minimal process issues and nearly zero VOC emission.

“100% solid UV resins is the largest used technology type of UV curable resins and formulated products in terms of both value and volume.” 

100% solids UV formulations are one- or two-component coatings that are formulated to have higher concentrations of solid components (100%), such as binders, pigments, and additives than conventional formulations such as solvent borne. High solids coatings provide a satisfactory performance due to their lower percentage of VOCs. 

100% solids UV formulations are more eco-friendly than conventional formulations as they emit low amounts of VOC. Hence, they are primarily used in the aerospace industry as a way to comply with various emission regulations. These formulations are durable, cost-effective, and less harmful to the environment. They are, however, more expensive and require spray equipment and expertise to apply.

“Coatings is the largest application of UV curable resins and formulated products in terms of both value and volume.”

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 the leading UV curable resins and formulated products market in terms of both value and volume.” 

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.

Due to COVID-19, UV curable resins and formulated products producers and numerous companies have halted their production sites across various countries that has led to reduced demand for UV curable resins and formulated products, which affected the demand in APAC countries. The recovery in the end-use industries with restoration in the supply chain would drive the titanium demand during the forecast period. 

This study has been validated through primary interviews conducted with various industry experts globally. These primary sources have been divided into the following three categories:

• By Company Type- Tier 1- 40%, Tier 2- 33%, and Tier 3- 27%

• By Designation- C Level- 50%, Director Level- 20%, and Others- 30%

• By Region- North America- 15%, Europe- 50%, Asia Pacific (APAC) - 20%, South America-5%, Middle East & Africa (MEA)-10%,

The report provides a comprehensive analysis of company profiles listed below: 

• 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)

Research Coverage

This report covers the global UV curable resins and formulated products market and forecasts the market size until 2026. It includes the following market segmentation – Composition type(oligomers, monomers, photoinitiators, additives), chemistry (non-acrylated oligoamines, acrylate oligomers), technology (solventborne UV resins, 100% solid UV resins, waterborne UV resins, powder UV resins), application (coatings, overprint varnishes, printing inks, adhesives, others) and Region (Europe, North America, APAC, South America, and MEA). Porter’s Five Forces Analysis, along with the drivers, restraints, opportunities, and challenges, have been discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global UV curable resins and formulated products market. 

Key benefits of buying the report: 

The report is expected to help market leaders/new entrants in this market in the following ways: 

1. This report segments the global UV curable resins and formulated products market comprehensively. It provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions. 

2. The report helps stakeholders understand the pulse of the UV curable resins and formulated products market and provides them with information on key market drivers, restraints, challenges, and opportunities. 

3. This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem, new product development, agreement, contract, expansion and acquisition. 

Reasons to buy the report:

The report will help leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall UV curable resins and formulated products market and the sub-segments. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.