NEW YORK, Jan. 7, 2016 /PRNewswire/ -- This BCC Research report is an impact analysis of the UV cured resins market. It includes factors currently driving and restraining the growth of the market, as well as factors impacting the future of the industry. Forecast given for the period 2015-2020.
Use this report to:
Gain insight into key issues surrounding the global UV cured resin market
Learn about UV cured resins usage patterns
Analyze raw materials used for UV cured resins
Identify region-specific developments in the industry
The global market for ultraviolet cured resins reached $2.9 billion in 2014. This market is projected to reach $4.6 billion in 2020 from nearly $3.1 billion in 2015 increasing at a compound annual growth rate (CAGR) of 8.7% for the period 2015-2020.
The coatings application segment is expected to grow from $1.3 billion in 2015 to $2.0 billion at a CAGR of 8.8% for the period 2015-2020.
Inks as a segment is expected to grow from $763.9 million in 2015 to nearly $1.2 billion in 2020 at a CAGR of 9.2% for the period 2015-2020.
In recent years, modernization of chemical synthesis of industrial resin products and improvement of production speed has helped manufacturers to increase the speed of ultraviolet (UV) curing of resins. UV cured resins are one-section translucent polymeric compounds that cure and immediately solidify when presented to particular light ranges. The obliged wavelength for cure is particular to the resin curing science. The resin stays fluid (thick, similar to syrup) under typical indoor lighting, which permits the chemist to work with the material until curing is completed. In the course of curing, light-activated resin is denser than air-cured resin because of its internal
physical properties and because no blending is obliged that may present air bubbles.
In recent years, UV curing or UV cured resins have gained popularity among industrial customers. Companies such as Allnex Belgium SA, Dymax Corp. and Three Bond Chemical Industry have introduced innovative UV cured resins products.
UV cured resins use UV light as a source of polymerization energy, which enables the resin to be converted into solventless, one part and fast-curing. With the help of UV curing, resins overcome the physical and chemical drawbacks of conventional resins, including poor curing speed, low elasticity/elongation and volatile low-temperature properties. Flexibility and scalability of usage, however, have fueled the application-specific demand of UV cured resins. It is expected that demand drivers will push the market growth for UV cured resin during the forecast period. Remarkable advancements in the field of chemical engineering and material technology, however, have created scope for manufacturers to invent materials that are impermeable to ultraviolet light. In due course, application limitations of UV cured resins have influenced research institutes and manufacturers to use active energy rays for polymerization of resins rather than ultraviolet light. Outmoded curing resins can be
considered as potential substitutes for UV cured resin.
UV cured resins can be synthesized from different types of acrylates. Hitachi Chemical Company Ltd. develops UV curing resins from urethane acrylates, epoxy acrylates and acrylic acrylates. Characteristics of UV cured resins vary significantly based on properties of monomer and building blocks. Urethane acrylate UV cured resin offers benefits such as flexibility and adhesion, whereas epoxy acrylate UV cured resin offers benefits such as rigidity, high refractive index and heat resistance. Acrylic acrylate UV cured resin offers benefits such as transparency and low warpage.
Major applications for UV cured resins are coatings, adhesives, masking materials, inks and precoated gaskets. Dentists and dental clinics use UV cured resins as adhesives. In industrial settings, UV cured resins are used as sealants for cracks and leaks. UV cured resins are also used as masking materials in the packaging industry. UV coatings are commercially used in the form of substrates such as vinyl composition tile and wood
UV cured resins are expected to penetrate the mainstream market within the next 5 years due to their increasing applications across different industry verticals. Popularity of this market is expected to grow in the coming years with further product innovation in different application-specific areas .
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