The UV cured resins market was valued at US$ 3662.24 Mn in 2019 and is anticipated to witness a compound annual growth rate of 8.9% over the forecast period.
The outbreak of the covid-19 is positively influencing the growth of global UV cured resins market. UV curable resins enhances the adhesive strength and showcases exceptional compatibility with metals, plastics and other materials. The specific property is incrementing its demand across medical industries, for manufacturing of products in high volumes.
The rising adoption of digitization among manufacturers to connect with clients directly rather than depending upon intermediaries is influencing the adoption direct online channels among UV cured resin manufactures, thereby, contributing to the growth of the market across the globe.
Growing demand for coating and 3D printing application across medical industry for medical device coating and other dental applications is influencing the growth of UV cured resins market across the globe.
Water borne UV cured resins are majorly adopted across industries owing to its volatile organic compound and reactive diluents, which is responsible for reduction in air pollutants and improving occupational health and safety.
North America held the highest market share in global UV cured resins market in 2019. Asia Pacific however, is expected to register the highest growth rate over the forecast period owing to high presence of industries utilizing UV cured resin coatings and adhesives such as consumer goods, building & construction, glass and metals and paper & packaging amongst others.
Some of the players operating in the global UV cured resins market ALLNEX NETHERLANDS B.V, Arkema Group, BASF SE, Chase Corp, Covestro AG, DIC CORPORATION, DSM, Dymax, Epoxies Etc, Eternal Materials Co.,Ltd, Heraeus Holding, IGM Resins B.V, Jiangsu Sanmu Group, Master Bond Inc., Mitsubishi Chemical Corporation, NIPPON GOHSEI (USA) Co., Ltd, NITTO DENKO CORPORATION, Panacol-Elosol GmbH, Showa Denko Materials Co., Ltd., SOLTECH LTD., ThreeBond Europe SAS, TOAGOSEI CO., LTD, and other market participants.