Description
UV Curable Resins and Formulated Products Market to surge at 9.48% CAGR, rising functioning of UV curable resin coatings expected to propel growth
This report is anticipated to reach USD 7,024 million by 2030. According to a study by Fatpos Global, the market is estimated to portray a CAGR of 9.48% during the forecast period i.e. 2020-2030. As per the report, rising functioning of UV curable resin coatings is likely to drive the market for UV curable and formulated products in the coming years.
The demand from the end-use sectors is a key aspect boosting the development of the worldwide UV curable resins market. Some of the main uses of UV curable resins comprise of wood and paper coatings, plastic coatings, and adhesives among others. The rising industrialization and urbanization in the emerging regions across the globe are projected to upsurge the market in the coming years. The cost efficiency, productivity, longevity and low sustenance make it appropriate for several end-use industries, which is a primary aspect accelerating the market growth positively.
The market report on global UV curable and formulated products market comprises of the following in-depth analysis:
• The estimated value of the market in 2019 was USD 4,078 million.
• Based on composition, the photoinitiators segment emerged out as a key segment in the UV curable and formulated products market across the globe.
• On the basis of chemistry, the acrylate oligoamines segment came out to be the leading segment of the market.
• Based on application, the coatings segment emerged to be the key segment in the market for UV curable and formulated products.
• Region-wise, the market in Asia Pacific is witnessed to be the key market segment in the growth of the market.
• Key players are likely to focus on product innovations and expansion through union to retain their positions in developed markets.
The Ultra Violet (U.V.) Curable Resins and Formulated Products are substances that are polymerized and treated in a petite period by the vitality emitted from ultraviolet irradiation machines. These are mainly used as industrial supplies for sealing, bonding, and coating. The properties and gains which elucidate the application of U.V. treating resins are that the treating rate is rapid, the work hour capacity is reduced. The substances are not dealt with by U.V. emission, therefore, clear limitations and norms have to be followed. They are treated at low temperatures. Owing to the non-solvent nature, the U.V. resins assist good workflow and strong ability. There are various types of cured characteristics present.
Global UV curable and formulated products market is segmented by composition into oligomers, monomers, photoinitiators and additives. Among these, the photoinitiators segment emerged as the key segment, holding a market share of xx% in 2019. The market is segmented by chemistry into non-acrylate oligoamines, acrylate oligoamines and others. Among these, the acrylate oligoamines segment came out to be the key segment of the market, capturing xx% of the total market share in 2019. On the basis of application, the market for UV curable and formulated products is segmented into wood & paper coatings, plastic coatings, metal coatings, printing inks, adhesives, 3D printing, adhesives, overprint varnishes and others. The coatings segment emerged as the leading segment in the market, holding xx% of the total market share in the year 2019. Region-wise, the worldwide UV curable and formulated products market is segmented into North America, Latin America, Europe, Middle East & Africa and Asia Pacific. Among these, the market in Asia Pacific is witnessed to be the key segment, acquiring xx% of the total market share in 2019.
Key Players in the Market
Some of the key players in global UV curable and formulated products market are Allnex Group, Arkema, Royal DSM, Covestro AG, Nippon Gohsei, Hitachi Chemical Co. Ltd., IGM Resins B.V., Toagosei Co. Ltd., Miwon Specialty Chemical Co. Ltd., and BASF.
Get Valuable Insights into UV Curable Resins and Formulated Products Market
In the new report, Fatpos Global thrives to present an unbiased analysis the global UV curable and formulated products market that covers the historical demand data as well as forecast figures for the period i.e. 2020-2030. The study includes compelling insights into growth that is witnessed in the market. The global UV curable and formulated products market is segmented by composition into oligomers, monomers, photoinitiators and additives. The market is divided by chemistry into non-acrylate oligoamines, acrylate oligoamines and others. On the basis of technology, the market for UV curable and formulated products is divided into waterborne UV, solvent-borne and 100% solid favorable powder UV. Based on application, the market is categorized into wood & paper coatings, plastic coatings, metal coatings, printing inks, adhesives, 3D printing, adhesives, overprint varnishes and others. On the basis of end-users, the market for UV curable resins and formulated products is divided into industrial coatings, graphic arts and electronics. Region-wise, the market is segmented into North America, Latin America, Europe, Middle East & Africa and Asia Pacific.
