LONDON, July 5, 2016 /PRNewswire/ -- The global UV curable resins market is projected to reach USD 3.05 billion by 2021, registering a CAGR of 8.12% from 2016 to 2021. The market is witnessing a moderate growth owing to increasing applications, technological advancements, and growing demand for these resins in Asia-Pacific and Western Europe. UV curable resins are largely used in industrial coating applications. The rapid growth of the market is driven by environmental concerns and increasingly stringent regulations.
"Urethane acrylates to register the highest growth between 2016 and 2021"
Urethane acrylates are projected to witness the highest growth in the UV curable resins market. Waterborne urethane acrylates (PUDs) are a viable resin choice for coatings for several end-use markets, including wood floors, kitchen cabinets, and furniture. They offer high-end performance with minimal process issues and nearly zero emission of VOCs. Dispersion of urethane acrylates (UV-PUDs), combined with physical drying acrylic dispersions, are being widely used in the European furniture coatings industry. These are also gaining momentum in the North American market.
"Asia-Pacific: The largest market for UV curable formulated products"
Asia-Pacific accounted for the largest share in the UV curable formulated products market in 2015. Factors such as evolving environmental & regulatory scenario, increasing consumer awareness (including sensitivity to health and safety), uncertainty about oil price, and pressure from flagship companies wanting to improve their environmental performance of their supply chain have all led to increasing demand of UV curable formulated products in the Asia-Pacific region.
This study has been validated through primaries conducted with various industry experts worldwide. These primary sources have been divided into three categories, namely, by company, by designation, and by region.
- By Company Type- Tier 1- 45%, Tier 2- 35%, and Tier 3- 20%
- By Designation- C Level- 35%, D Level- 25%, and Others- 40%
- By Region- North America- 45%, Asia-Pacific- 20%, Europe- 30%, and RoW- 5%
Companies profiled in the report
- Royal DSM N.V. (Netherlands)
- Allnex Belgium SA/NV (Belgium)
- Alberdingk Boley GmbH (Germany)
- BASF SE (Germany)
- Covestro AG (Germany)
- Nippon Gohsei (Japan)
- Wanhua Chemical Group Co., Ltd. (China)
- Miwon Specialty Chemical Co. Ltd (South Korea)
- Hitachi Chemical Company Ltd. (Japan)
- IGM Resins (Netherlands)
- Eternal Chemical Co. Ltd. (Taiwan)
- Toagosei Co. Ltd. (Japan)
- Sartomer USA LLC (U.S.)
- Jiangsu Sanmu Group Corporation (China)
- Soltech Ltd. (South Korea)
Reasons to buy the report
- Comprehensive coverage and analysis of the UV curable resins & formulated products market in Asia-Pacific, Western Europe, North America, Central & Eastern Europe, Middle East & Africa and South America
- Competitive landscape of major players and their developments in the UV curable resins market
- A list of VOC regulations driving the market in key countries and regions
- Identifying high-potential opportunities for UV curable resins
- Identifying and targeting high-growth application segments
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