UV Curable Resins Market by Formulation, by Application, by End User, by Geography - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013 - 2023

  • ID: 4600396
  • Report
  • Region: Global
  • 121 pages
  • P&S Market Research
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UV Curable Resins Market Overview

The global UV curable resins market was valued at $3,473.9 million in 2017 and is expected to reach $5,403.9 million in 2023, advancing at a CAGR of 7.7% during the forecast period. The market growth is mainly driven by the increasing use of environment-friendly industrial coatings and growing demand for UV curable inks for packaging purposes.

UV curing is a subset of energy/radiation curing, where a light source is used to cure the products including coatings, inks, and adhesives. The resins employed for formulating such products are termed as UV curable resins.

Based on formulation, the UV curable resins market is categorized into oligomers, monomers, photoinitiators, and others (additives and pigments). Among all types, oligomers recorded the highest volume sales in the market, accounting for more than 45.0% share in 2017. The superior properties of oligomers over other formulations, such as fast curing, good chemical resistance, high gloss, and relatively low cost are attributing to its largest share.

On the basis of application, the UV curable resins market is categorized into coatings, inks, adhesives, and others (masking materials, filling materials, soldering materials, and staping motor protective layers). Of these, coatings was the largest application area in the market, accounting for more than 45.0% volume sales share in 2017. The use of UV coatings has increased significantly over the years in the electronics industry for laptops, mobile phones, and game console coatings. The main reason for this growth is its excellent performance such as outdoor durability, good wear resistance, and resistance against household chemicals.

In terms of end user, the UV curable resins market is segmented into industrial coatings, graphic arts, electronics, and others (aerospace, defence, and mining industries). Of these, industrial coatings constituted the largest category in the market, accounting for more than 55.0% volume sales share in 2017. With legislators focusing on reducing solvent emissions from the coating process through laws such as the Solvent Emissions Directive (SED) and Decopaint Directive (DPD), there is a rising trend toward the use of environment-friendly industrial coating systems, thus fueling the market growth of the category.

Asia-Pacific is the largest UV curable resins market, followed by North America and Europe. The market in the region is expected to record high growth during the forecast period, owing to the increasing demand of these resins from the electronics sector, growing consumer awareness and environmental concerns, and the subsequent adoption of stringent volatile organic compound (VOC) emission norms.

UV Curable Resins Market Dynamics

The major trend witnessed in the UV curable resins market is its increased use in 3D printing applications. The increasing use of environment-friendly industrial coatings and the growing demand of UV curable inks for packaging purposes are the major drivers identified in the market.

Trends

The major trend witnessed in the UV curable resins market is the increased use of these resins in 3D printing. 3D printing is emerging as a major manufacturing technology with immense potential. The 3D printing process is executed in many industries and uses UV curable inks; for example, in the electronics industry, these inks are highly used because of their properties of wear-resistance, robustness, and flexibility. Countries such as China, the U.S., Korea, and Japan are using this technology for different applications. This increasing use of 3D printing is, in turn, propelling the consumption of UV curable resins globally.

Drivers

One of the main drivers identified in the UV curable resins market is the increasing use of environment-friendly industrial coatings. It is seen that traditional inks, adhesives, and coatings contain hydrocarbon solvents, which upon curing release hydrocarbons in the atmosphere. However, these hydrocarbons have VOCs, which is carcinogenic and cause health problems. This has resulted in the government making stringent norms for controlling the release of VOCs in the environment.

UV curable products do not have a much negative impact on the environment, unlike conventional products. The radiation curable adhesives, inks, and coatings, with an electron beam (EB) and UV are emerging as the viable alternatives to traditional inks due to zero emissions. This prompt industries to use UV cured resins which are greener alternatives to conventional products. Hence, the increasing use of environment-friendly industrial coatings is expected to drive the UV curable resins market growth.

Restraints

High setting up cost of the UV curable resins manufacturing plant has been identified as a major restraint in the UV curable resins market. It is seen that the initial cost of formulating an equipment can be higher than the cost incurred on conventional coating technologies. Also, the UV curing machine is costlier than the conventional one. The intensity of this challenge is especially higher in Asian countries, as they are more cost-sensitive. Hence, high setting-up cost of these manufacturing plants hampers the UV curable resins market growth.

UV Curable Resins Market Competitive Landscape

Some of the major players operating in the global UV curable resins market are BASF SE, Toagosei Co. Ltd., Koninklijke DSM N.V, The Nippon Synthetic Chemical Industry Co. Ltd., Covestro AG, Wanhua Chemical Group Co. Ltd., Miwon Specialty Chemical Co. Ltd., Hitachi Ltd., Arkema Group, and DIC Corporation.

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Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation By Formulation
1.3.2 Market Segmentation By Application
1.3.3 Market Segmentation By End Use
1.3.4 Market Segmentation By Geography
1.3.5 Analysis Period
1.3.6 Market Data Reporting Unit
1.3.6.1 Value
1.3.6.2 Volume
1.4 Key Stakeholders

Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown Of Primary Research Respondents
2.2.1.1 By Region
2.2.1.2 By Industry Participant
2.2.1.3 By Company Type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions For The Study

Chapter 3. Executive Summary

Chapter 4. Introduction
4.1 Definition Of Market Segments
4.1.1 By Formulation
4.1.1.1 Oligomers
4.1.1.2 Monomers
4.1.1.3 Photoinitiators
4.1.1.4 Others
4.1.2 By Application
4.1.2.1 Coating
4.1.2.2 Inks
4.1.2.3 Adhesives
4.1.2.4 Others
4.1.3 By End Use
4.1.3.1 Industrial Coatings
4.1.3.2 Graphic Arts
4.1.3.3 Electronics
4.1.3.4 Others
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Shift From Conventional Curing To Uv Curing
4.3.2 Drivers
4.3.2.1 Increasing Use Of Environment-Friendly Industrial Coatings
4.3.2.2 Growing Demand For Uv Curable Inks In Packaging Applications
4.3.2.3 Increased Use In 3D Printing Applications
4.3.2.4 Impact Analysis Of Drivers On Market Forecast
4.3.3 Restraints
4.3.3.1 High Installation Cost Of Uv Curable Resin Manufacturing Plant
4.3.3.2 Impact Analysis Of Restraints On Market Forecast
4.3.4 Opportunities
4.3.4.1 Increasing Demand From The Electronics Industry

Chapter 5. Global Market Size And Forecast
5.1 By Formulation
5.2 By Application
5.3 By End Use
5.4 By Region

Chapter 6. North America Market Size And Forecast
6.1 By Formulation
6.2 By Application
6.3 By End Use
6.4 By Country

Chapter 7. Europe Market Size And Forecast
7.1 By Formulation
7.2 By Application
7.3 By End Use
7.4 By Country

Chapter 8. Apac Market Size And Forecast
8.1 By Formulation
8.2 By Application
8.3 By End Use
8.4 By Country

Chapter 9. Row Market Size And Forecast
9.1 By Formulation
9.2 By Application
9.3 By End Use
9.4 By Country

Chapter 10. Competitive Landscape
10.1 Market Share Analysis Of Key Players
10.2 Competitive Benchmarking Of Key Players
10.3 Global Strategic Developments Of Key Players
10.3.1 Partnerships
10.3.2 Other Developments

Chapter 11. Company Profiles
11.1 Basf Se
11.1.1 Business Overview
11.1.2 Product And Service Offerings
11.1.3 Key Financial Summary
11.2 Toagosei Co. Ltd.
11.2.1 Business Overview
11.2.2 Product And Service Offerings
11.2.3 Key Financial Summary
11.3 Koninklijke Dsm N.V.
11.3.1 Business Overview
11.3.2 Product And Service Offerings
11.3.3 Key Financial Summary
11.4 The Nippon Synthetic Chemical Industry Co. Ltd.
11.4.1 Business Overview
11.4.2 Product And Service Offerings
11.5 Covestro Ag
11.5.1 Business Overview
11.5.2 Product And Service Offerings
11.5.3 Key Financial Summary
11.6 Wanhua Chemical Group Co. Ltd.
11.6.1 Business Overview
11.6.2 Product And Service Offerings
11.7 Miwon Specialty Chemical Co Ltd.
11.7.1 Business Overview
11.7.2 Product And Service Offerings
11.8 Hitachi Ltd.
11.8.1 Business Overview
11.8.2 Product And Service Offerings
11.8.3 Key Financial Summary
11.9 Arkema Group
11.9.1 Business Overview
11.9.2 Product And Service Offerings
11.9.3 Key Financial Summary
11.1 Dic Corporation
11.10.1 Business Overview
11.10.2 Product And Service Offerings
11.10.3 Key Financial Summary

Chapter 12. Appendix
12.1 Abbreviations
12.2 Sources And References
 
List of Tables
Table 1 Analysis Period Of The Study
Table 2 Drivers For The Market: Impact Analysis
Table 3 Restraint For The Market: Impact Analysis
Table 4 Global Uv Curable Resins Market, By Formulation, Kilo Tons (2013–2017)
Table 5 Global Uv Curable Resins Market, By Formulation, Kilo Tons (2018–2023)
Table 6 Global Uv Curable Resins Market, By Formulation, $M (2013–2017)
Table 7 Global Uv Curable Resins Market, By Formulation, $M (2018–2023)
Table 8 Global Uv Curable Resins Market, By Application, Kilo Tons (2013–2017)
Table 9 Global Uv Curable Resins Market, By Application, Kilo Tons (2018–2023)
Table 10 Global Uv Curable Resins Market, By Application, $M (2013–2017)
Table 11 Global Uv Curable Resins Market, By Application, $M (2018–2023)
Table 12 Global Uv Curable Resins Market, By End Use, Kilo Tons (2013–2017)
Table 13 Global Uv Curable Resins Market, By End Use, Kilo Tons (2018–2023)
Table 14 Global Uv Curable Resins Market, By End Use, $M (2013–2017)
Table 15 Global Uv Curable Resins Market, By End Use, $M (2018–2023)
Table 16 Global Uv Curable Resins Market, By Region, Kilo Tons (2013–2017)
Table 17 Global Uv Curable Resins Market, By Region, Kilo Tons (2018–2023)
Table 18 Global Uv Curable Resins Market, By Region, $M (2013–2017)
Table 19 Global Uv Curable Resins Market, By Region, $M (2018–2023)
Table 20 North America Uv Curable Resins Market, By Formulation, Kilo Tons (2013–2017)
Table 21 North America Uv Curable Resins Market, By Formulation, Kilo Tons (2018–2023)
Table 22 North America Uv Curable Resins Market, By Formulation, $M (2013–2017)
Table 23 North America Uv Curable Resins Market, By Formulation, $M (2018–2023)
Table 24 North America Uv Curable Resins Market, By Application, Kilo Tons (2013–2017)
Table 25 North America Uv Curable Resins Market, By Application, Kilo Tons (2018–2023)
Table 26 North America Uv Curable Resins Market, By Application, $M (2013–2017)
Table 27 North America Uv Curable Resins Market, By Application, $M (2018–2023)
Table 28 North America Uv Curable Resins Market, By End Use, Kilo Tons (2013–2017)
Table 29 North America Uv Curable Resins Market, By End Use, Kilo Tons (2018–2023)
Table 30 North America Uv Curable Resins Market, By End Use, $M (2013–2017)
Table 31 North America Uv Curable Resins Market, By End Use, $M (2018–2023)
Table 32 North America Uv Curable Resins Market, By Country, Kilo Tons (2013–2017)
Table 33 North America Uv Curable Resins Market, By Country, Kilo Tons (2018–2023)
Table 34 North America Uv Curable Resins Market, By Country, $M (2013–2017)
Table 35 North America Uv Curable Resins Market, By Country, $M (2018–2023)
Table 36 Europe Uv Curable Resins Market, By Formulation, Kilo Tons (2013–2017)
Table 37 Europe Uv Curable Resins Market, By Formulation, Kilo Tons (2018–2023)
Table 38 Europe Uv Curable Resins Market, By Formulation, $M (2013–2017)
Table 39 Europe Uv Curable Resins Market, By Formulation, $M (2018–2023)
Table 40 Europe Uv Curable Resins Market, By Application, Kilo Tons (2013–2017)
Table 41 Europe Uv Curable Resins Market, By Application, Kilo Tons (2018–2023)
Table 42 Europe Uv Curable Resins Market, By Application, $M (2013–2017)
Table 43 Europe Uv Curable Resins Market, By Application, $M (2018–2023)
Table 44 Europe Uv Curable Resins Market, By End Use, Kilo Tons (2013–2017)
Table 45 Europe Uv Curable Resins Market, By End Use, Kilo Tons (2018–2023)
Table 46 Europe Uv Curable Resins Market, By End Use, $M (2013–2017)
Table 47 Europe Uv Curable Resins Market, By End Use, $M (2018–2023)
Table 48 Europe Uv Curable Resins Market, By Country, Kilo Tons (2013–2017)
Table 49 Europe Uv Curable Resins Market, By Country, Kilo Tons (2018–2023)
Table 50 Europe Uv Curable Resins Market, By Country, $M (2013–2017)
Table 51 Europe Uv Curable Resins Market, By Country, $M (2018–2023)
Table 52 Apac Uv Curable Resins Market, By Formulation, Kilo Tons (2013–2017)
Table 53 Apac Uv Curable Resins Market, By Formulation, Kilo Tons (2018–2023)
Table 54 Apac Uv Curable Resins Market, By Formulation, $M (2013–2017)
Table 55 Apac Uv Curable Resins Market, By Formulation, $M (2018–2023)
Table 56 Apac Uv Curable Resins Market, By Application, Kilo Tons (2013–2017)
Table 57 Apac Uv Curable Resins Market, By Application, Kilo Tons (2018–2023)
Table 58 Apac Uv Curable Resins Market, By Application, $M (2013–2017)
Table 59 Apac Uv Curable Resins Market, By Application, $M (2018–2023)
Table 60 Apac Uv Curable Resins Market, By End Use, Kilo Tons (2013–2017)
Table 61 Apac Uv Curable Resins Market, By End Use, Kilo Tons (2018–2023)
Table 62 Apac Uv Curable Resins Market, By End Use, $M (2013–2017)
Table 63 Apac Uv Curable Resins Market, By End Use, $M (2018–2023)
Table 64 Apac Uv Curable Resins Market, By Country, Kilo Tons (2013–2017)
Table 65 Apac Uv Curable Resins Market, By Country, Kilo Tons (2018–2023)
Table 66 Apac Uv Curable Resins Market, By Country, $M (2013–2017)
Table 67 Apac Uv Curable Resins Market, By Country, $M (2018–2023)
Table 68 Row Uv Curable Resins Market, By Formulation, Kilo Tons (2013–2017)
Table 69 Row Uv Curable Resins Market, By Formulation, Kilo Tons (2018–2023)
Table 70 Row Uv Curable Resins Market, By Formulation, $M (2013–2017)
Table 71 Row Uv Curable Resins Market, By Formulation, $M (2018–2023)
Table 72 Row Uv Curable Resins Market, By Application, Kilo Tons (2013–2017)
Table 73 Row Uv Curable Resins Market, By Application, Kilo Tons (2018–2023)
Table 74 Row Uv Curable Resins Market, By Application, $M (2013–2017)
Table 75 Row Uv Curable Resins Market, By Application, $M (2018–2023)
Table 76 Row Uv Curable Resins Market, By End Use, Kilo Tons (2013–2017)
Table 77 Row Uv Curable Resins Market, By End Use, Kilo Tons (2018–2023)
Table 78 Row Uv Curable Resins Market, By End Use, $M (2013–2017)
Table 79 Row Uv Curable Resins Market, By End Use, $M (2018–2023)
Table 80 Row Uv Curable Resins Market, By Country, Kilo Tons (2013–2017)
Table 81 Row Uv Curable Resins Market, By Country, Kilo Tons (2018–2023)
Table 82 Row Uv Curable Resins Market, By Country, $M (2013–2017)
Table 83 Row Uv Curable Resins Market, By Country, $M (2018–2023)
Table 84 Basf Se – At A Glance
Table 85 Basf Se – Key Financial Summary
Table 86 Toagosei Co. Ltd. – At A Glance
Table 87 Toagosei Co. Ltd. – Key Financial Summary
Table 88 Koninklijke Dsm N.V. – At A Glance
Table 89 Koninklijke Dsm N.V. – Key Financial Summary
Table 90 The Nippon Synthetic Chemical Industry Co. Ltd. – At A Glance
Table 91 Covestro Ag – At A Glance
Table 92 Covestro Ag – Key Financial Summary
Table 93 Wanhua Chemical Group Co. Ltd. – At A Glance
Table 94 Miwon Specialty Chemical Co Ltd. – At A Glance
Table 95 Hitachi Ltd.– At A Glance
Table 96 Hitachi Ltd. – Key Financial Summary
Table 97 Arkema Group – At A Glance
Table 98 Arkema Group – Key Financial Summary
Table 99 Dic Corporation – At A Glance
Table 100 Dic Corporation – Key Financial Summary
 
List of Figures
Fig 1 Research Scope
Fig 2 Research Methodology
Fig 3 Regional-Split Of Primary And Secondary Research
Fig 4 Breakdown Of Primary Research By Region
Fig 5 Breakdown Of Primary Research By Industry Participant
Fig 6 Breakdown Of Primary Research By Company Type
Fig 7 Data Triangulation Approach
Fig 8 Global Uv Curable Resins Market Summary
Fig 9 Global Uv Curable Resins Market, By Formulation, Kilo Tons (2013–2023)
Fig 10 Global Uv Curable Resins Market, By Application, Kilo Tons (2013–2023)
Fig 11 Global Uv Curable Resins Market, By End Use, Kilo Tons (2013–2023)
Fig 12 Global Uv Curable Resins Market, By Region, Kilo Tons (2013–2023)
Fig 13 North America Uv Curable Resins Market Snapshot
Fig 14 North America Uv Curable Resins Market, By Formulation, Kilo Tons (2013–2023)
Fig 15 North America Uv Curable Resins Market, By Application, Kilo Tons (2013–2023)
Fig 16 North America Uv Curable Resins Market, By End Use, Kilo Tons (2013–2023)
Fig 17 North America Uv Curable Resins Market, By Country, Kilo Tons (2013–2023)
Fig 18 Europe Uv Curable Resins Market Snapshot
Fig 19 Europe Uv Curable Resins Market, By Formulation, Kilo Tons (2013–2023)
Fig 20 Europe Uv Curable Resins Market, By Application, Kilo Tons (2013–2023)
Fig 21 Europe Uv Curable Resins Market, By End Use, Kilo Tons (2013–2023)
Fig 22 Europe Uv Curable Resins Market, By Country, Kilo Tons (2013–2023)
Fig 23 Apac Uv Curable Resins Market Snapshot
Fig 24 Apac Uv Curable Resins Market, By Formulation, Kilo Tons (2013–2023)
Fig 25 Apac Uv Curable Resins Market, By Application, Kilo Tons (2013–2023)
Fig 26 Apac Uv Curable Resins Market, By End Use, Kilo Tons (2013–2023)
Fig 27 Apac Uv Curable Resins Market, By Country, Kilo Tons (2013–2023)
Fig 28 Row Uv Curable Resins Market Snapshot
Fig 29 Row Uv Curable Resins Market, By Formulation, Kilo Tons (2013–2023)
Fig 30 Row Uv Curable Resins Market, By Application, Kilo Tons (2013–2023)
Fig 31 Row Uv Curable Resins Market, By End Use, Kilo Tons (2013–2023)
Fig 32 Row Uv Curable Resins Market, By Country, Kilo Tons (2013–2023)
Fig 33 Global Uv Curable Resins Market Share, By Company (2017)
Fig 34 Basf Se – Revenue Split By Segment And Geography (2017)
Fig 35 Koninklijke Dsm N.V. – Revenue Split By Segment And Geography (2017)
Fig 36 Covestro Ag – Revenue Split By Segment And Geography (2017)
Fig 37 Hitachi Ltd. Revenue Split By Segment And Geography (2017)
Fig 38 Arkema Group – Revenue Split By Segment And Geography (2017)
Fig 39 Dic Corporation – Revenue Split By Geography And Segment (2017)

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