UV Curable Resins & Formulated Products 2018-2023: Global Market Analysis by Composition, Chemistry, Application, Technology, and Region

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May 21, 2018, 01:30 ET

DUBLIN, May 21, 2018 /PRNewswire/ --

The "UV Curable Resins & Formulated Products Market by Composition (Oligomers, Monomers, Photoinitiators, Additives), Chemistry (Non-Acrylates & Oligoamines, Acrylates), Application, Technology, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global UV curable resins & formulated products market is estimated to be USD 4 Billion in 2018 and is projected to reach USD 6.31 Billion by 2023, at a CAGR of 9.5% from 2018 to 2023.

Factors driving the market are environmental concerns, growing awareness about safety and health, stringent regulations on VOC emissions, and high performance of UV curable resins owing to its superior mechanical properties.

The UV curable resins & formulated products market has been segmented on the basis of composition, chemistry, application, technology, and region. Among compositions, the oligomers segment is projected to lead the UV curable resins & formulated products market during the forecast period, in terms of value. Oligomers such as acrylates are used for manufacturing paper coatings, overprint varnish, wood coating, in ink application (screen and offset), and is expected to witness increased demand in Asia Pacific.

The coatings application segment is expected to lead the UV curable resins & formulated products market during the forecast period. With legislators seeking to reduce solvent emissions from the coating process through laws such as the Solvent Emissions Directive (SED) and the Decopaint Directive (DPD), there is a rising trend toward the use of environment-friendly industrial coating systems. As a result, UV curing systems are becoming increasingly important. The use of UV coatings has increased significantly over the last decade in the electronics industry for mobile phones, laptops, and game console coatings. The main reason for this growth is the excellent performance of the UV coatings, such as good wear resistance, outdoor durability, and resistance against household chemicals.

Asia Pacific is the largest market for UV curable resins and formulated products, followed by Europe and North America. The market for UV curable resins and formulated products in Asia Pacific is estimated to record high growth, owing to their increasing demand from the electronics sector. This high growth can be attributed to the increasing consumer awareness and environmental concerns, and the subsequent adoption of stringent VOC emission norms.

Factors restraining market growth include the need to thermally dry sensitive substrates and high setting-up cost of the UV coating manufacturing plant. The high cost is an obstacle to setting up a high-performing water-based UV system. The initial cost of formulating and equipment can be higher than the cost incurred on conventional coating technologies.

The UV curable resins & formulated products market is led by various players depending on their core competencies. Key players in this market are Arkema (France), Allnex (Germany), Toagosei (Japan), BASF (Germany), Royal DSM (Netherlands), Covestro (Germany), Nippon Gohsei (Japan), Hitachi Chemical Company (Japan), IGM Resins (Netherlands), and Miwon Specialty Chemical (South Korea).

As a part of its business strategy, Allnex focuses on developing new products to differentiate its products from its competitors. It also participates in various conferences and exhibitions to highlight its products and technologies. The company undertook a few expansion activities to develop new markets for its products. It also invested in a new technical services & development (TS&D) laboratory in Shanghai to bring together its key technologies under one roof for synergies and resource sharing in technical developments. The company invested in a new technology center in the Americas to accelerate its growth in key markets and further globalize its business.

Key Topics Covered

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Package Size
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.3 Data Triangulation
2.4 Research Assumptions and Limitations
2.4.1 Assumptions
2.4.2 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the UV Curable Resins and Formulated Products Market
4.2 UV Curable Resins and Formulated Products Market, By Region
4.3 UV Curable Resins and Formulated Products Market in APAC
4.4 UV Curable Resins and Formulated Products Market Share, By Country, 2017
4.5 UV Curable Resins and Formulated Products Market, By Application, 2017

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Environmental Awareness and Stringent Regulations
5.2.1.2 High Performance of UV Curable Resins
5.2.2 Restraints
5.2.2.1 Need to Thermally Dry Sensitive Substrates
5.2.2.2 High Setting-Up Cost
5.2.3 Opportunities
5.2.3.1 High Growth Prospects in 3D Printing, Digital Printing, Packaging, Barrier Films, and Printed Circuit Applications
5.2.4 Challenges
5.2.4.1 Grain Raising in Wooden Substrates
5.2.4.2 Environmental Challenges With Regard to Wastewater Discharge
5.2.4.3 Finishing Defects Caused By Incomplete Drying
5.3 Porter's Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.4 Macroeconomic Overview and Key Drivers
5.4.1 Introduction
5.4.2 Trends and Forecast of GDP
5.4.3 Global Electronics Industry and Economic Outlook

6 UV LED Curable Inks & Coatings
6.1 Introduction
6.2 Technological Advancements
6.2.1 Light Emitting Diodes (LEDs) Lamps
6.2.2 Arrays
6.2.3 Optics
6.2.4 Cooling
6.3 UV LED Curing Technology, By Industry
6.3.1 Wood
6.3.2 Automotive
6.3.3 Industrial
6.3.4 Printing
6.4 Industry Trends

7 UV Curable Resins and Formulated Products Market, By Composition
7.1 Introduction
7.2 Oligomers
7.3 Monomers
7.4 Photoinitiators
7.5 Additives

8 UV Curable Resins (Oligomers) Market, By Chemistry
8.1 Introduction
8.2 Non Acrylates & Oligoamines
8.3 Acrylate Oligomers
8.3.1 Epoxy Acrylates
8.3.2 Polyether/Polyester Acrylates
8.3.3 Urethane Acrylates
8.3.4 Others

9 UV Curable Resins and Formulated Products Market, By Application
9.1 Introduction
9.2 Coatings
9.2.1 Wood & Paper Coatings
9.2.1.1 Benefits of Radiation Curable Wood Coatings
9.2.1.2 Drawbacks of Radiation Curable Wood Coatings
9.2.1.3 Benefits of Waterborne UV Wood Coatings
9.2.1.4 Drawback of Waterborne UV Wood Coatings
9.2.2 Plastic Coatings
9.2.3 Metal Coatings
9.2.3.1 Benefits of UV Curable Metal Coatings
9.3 Overprint Varnishes
9.4 Printing Inks
9.4.1 Benefits of UV Inks
9.5 Adhesives
9.6 3D Printing
9.7 Others

10 UV Curable Resins and Formulated Products Market, By Technology
10.1 Introduction
10.2 Solventborne UV Curable Resins
10.3 100% Solids UV Curable Resins
10.4 Waterborne UV Curable Resins
10.5 Powder UV Curable Resins

11 UV Curable Resins and Formulated Products Market, By Region
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Sweden
11.3.4 Italy
11.3.5 Spain
11.3.6 Russia
11.3.7 Belgium
11.3.8 France
11.3.9 Rest of Europe
11.4 APAC
11.4.1 China
11.4.2 Japan
11.4.3 South Korea
11.4.4 India
11.4.5 Vietnam
11.4.6 Malaysia
11.4.7 Rest of APAC
11.5 Middle East & Africa
11.5.1 UAE
11.5.2 Turkey
11.5.3 Saudi Arabia
11.5.4 South Africa
11.5.5 Rest of Middle East & Africa
11.6 South America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of South America

12 Competitive Landscape
12.1 Overview
12.2 Market Ranking of Key Players, 2017

13 Company Profiles
13.1 Arkema SA
13.2 Allnex Group
13.3 Toagosei Co. Ltd.
13.4 BASF SE
13.5 Royal DSM
13.6 Covestro AG
13.7 Nippon Gohsei
13.8 Hitachi Chemical Company Ltd.
13.9 IGM Resins B.V.
13.10 Miwon Specialty Chemical Co. Ltd.
13.11 Lambson Limited
13.12 Alberdingk Boley GmbH
13.13 Jiangsu Sanmu Group Corporation
13.14 Wanhua Chemical Group Co. Ltd.
13.15 Eternal Chemical Co. Ltd
13.16 Soltech Ltd.
13.17 Dymax Corporation
13.18 Rahn AG
13.19 Perstorp Holding AB
13.20 Qualipoly Chemical Corporation
13.21 DIC Corporation
13.22 Double Bond Chemical Ind. Co. Ltd.
13.23 Nagase Chemtex Corporation
13.24 CBC Co. Ltd.
13.25 Arakawa Chemical Industries Ltd.
13.26 Deuchem Co. Ltd.
13.27 Siltech Corporation
13.28 BYK-Chemie GmbH
13.29 Nissan Chemical Industries Ltd.

For more information about this report visit https://www.researchandmarkets.com/research/gh2m53/uv_curable_resins?w=5

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