Global UV Curable Resin Market Size Worth USD 12.25 Billion By 2033 | CAGR of 7.35%
Category: Chemicals & MaterialsGlobal UV Curable Resin Market Size Worth USD 12.25 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global UV Curable Resin Market Size is Expected to Grow from USD 6.03 Billion in 2023 to USD 12.25 Billion by 2033, at a CAGR of 7.35% during the forecast period 2023-2033.
Get more details on this report -
Browse key industry insights spread across 235 pages with 118 Market data tables and figures & charts from the report on the "Global UV Curable Resin Market Size, Share, and COVID-19 Impact Analysis, By Product (Monomers, Oligomers, Photo Initiators, and Others), By End-Use (Automotive & Transportation, Building & Construction, Architectural Coating, Electronics, Display Materials, PCB, Optical Fiber Coating, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/uv-curable-resin-market
The UV curable resin market is the market of resins that hardens when exposed to ultraviolet (UV) light. UV curable resins are referred to as specialized materials when subjected to ultraviolet radiation, quickly cure. The advantages of UV curable resins in performance and their environmental impact make them a preferred choice across various applications. The increasing applications in 3D printing, digital printing, and printed circuits offer lucrative market growth opportunities for UV curable resin. The widespread use of UV-curable resin in plastic paints for household items as well as in films with materials like calcium fluoride, UV-fused silica, and sapphire is propelling the market expansion. The growing emphasis on lowering emissions of volatile organic compounds (VOCs) is driving the demand for UV curing technology as it provides an environmentally responsible substitute. On the contrary, the limited substrate compatibility and limited usage of UV curable resins are challenging the market growth.
The monomers segment held the largest market share of 48.4% in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the product, the global UV curable resin market is divided into monomers, oligomers, photo initiators, and others. Among these, the monomers segment held the largest market share of 48.4% in 2023 and is expected to grow at a significant CAGR during the forecast period. Monomers provide a wide range of functional qualities for the production of resins, including properties specific to the requirements of particular applications. The reduced production costs associated with the use of monomers are driving the market growth in the monomers segment.
The automotive & transportation segment accounted for the largest market share in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the end-use, the global UV curable resin market is divided into automotive & transportation, building & construction, architectural coating, electronics, display materials, PCB, optical fiber coating, and others. Among these, the automotive & transportation segment accounted for the largest market share in 2023 and is expected to grow at a significant CAGR during the forecast period. The automotive and transportation industries are the main users of UV-curable resins for coating a range of external and internal components, including metal surfaces, headlight lenses, plastic components, and trims.
North America is projected to hold the largest share of the global UV curable resin market over the forecast period.
Get more details on this report -
North America is projected to hold the largest share of the global UV curable resin market over the forecast period. The growing environmental concerns led to a strong demand for eco-friendly coatings with minimal VOCs contributing to bolstering the market growth. The adoption of advanced technologies such as automation, artificial intelligence, and renewable energy solutions in the region is driving the UV curable resin market.
Asia Pacific is predicted to grow at the fastest CAGR in the UV curable resin market over the forecast period. The growth of the paper & packaging, electrical & electronics, automotive, and building & construction industries are responsible for market growth of UV curable resin. Further, the increased penetration of UV cured resins in the coatings and inks manufacturing segment is significantly contributing to driving the market.
Major key players in the UV curable resin market include BASF SE, Arkema Group, Covestro AG, DSM, Resonac Holdings Corporation, Allnex GmbH, Resonac Corporation, Astorg (IGM Resins), Jiangsu Litian Technology Co., Ltd., Mitsubishi Chemical Europe GmbH (Nippon-Gohsei), SOLTECH LTD, DIC Corporation, iGM Resins, Geminor, TOAGOSEI CO., LTD, Troy Corporation, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In October 2023, Arkema began production of Sartomer specialty UV/LED curing resins at its expanded facility in Nansha, China, where the Group invested to double the capacity. This would support the development of more sustainable solutions for fast-growing applications in Asian markets, such as cutting-edge solutions in electronics, driven by 5G technology, and in renewable energies.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global UV curable resin market based on the below-mentioned segments:
Global UV Curable Resin Market, By Product
- Monomers
- Oligomers
- Photo Initiators
- Others
Global UV Curable Resin Market, By End-Use
- Automotive & Transportation
- Building & Construction
- Architectural Coating
- Electronics
- Display Materials
- PCB
- Optical Fiber Coating
- Others
Global UV Curable Resin Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us
Need help to buy this report?