Global UV Curable Resin Market Insights Forecasts to 2033

• The Global UV Curable Resin Market Size was Estimated at USD 6.03 Billion in 2023
• The Market Size is Expected to Grow at a CAGR of around 7.35% from 2023 to 2033
• The Worldwide UV Curable Resin Market Size is Expected to Reach USD 12.25 Billion by 2033
• Asia Pacific is expected to grow the fastest during the forecast period.

The Global UV Curable Resin Market Size is projected to reach USD 12.25 Billion by 2033, Growing at a CAGR of 7.35% from 2023 to 2033. The growing usage of UV curable resin in paper & packaging, automotive, and electrical & electronics industry is driving the market growth for UV curable resin.

Market Overview

The UV curable resin market refers to the market for resins that harden when exposed to ultraviolet (UV) light. UV-curable resins are used in various applications such as coatings, bonding, and sealing. They are referred to as specialized materials when subjected to ultraviolet radiation, quickly cure. In this product, monomers, oligomers, etc, are solidified through a chain polymerization reaction by ultraviolet rays. The advantages of UV curable resins in performance and their environmental impact make them a preferred choice across various applications. The ongoing R&D efforts for novel formulations with customized solutions are creating opportunities for manufacturers. Further, the increasing applications in 3D printing, digital printing, and printed circuits offer lucrative market growth opportunities for UV curable resin.  

Report Coverage

This research report categorizes the UV curable resin market based on various segments and regions forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the UV curable resin market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the UV curable resin market.

Driving Factors

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. Further, the UV curable resins’ quick curing time and improved chemical resistance are contributing to drive market expansion. 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.    

Restraining Factors

The limited substrate compatibility is the major factor responsible for restraining the market growth. The usage of UV curable resins is limited to inks, coatings, and adhesives, thereby restraining the market for UV curable resin.

Market Segmentation

The global UV curable resin market share is classified into product and end-use.

• The monomers segment dominated the market with the largest market share of 48.4% in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the product, the UV curable resin market is classified into monomers, oligomers, photo initiators, and others. Among these, the monomers segment dominated the market with the largest market share of 48.4% in 2023 and is anticipated to grow at a significant CAGR during the forecast period. For the creation of resins, monomers offer a broad range of functional properties, including characteristics tailored to the demands of particular applications. The segment’s growth is being driven by the reduced production costs associated with using monomers.

• 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 UV curable resin market is classified 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. UV-curable resins are mostly utilized in the automotive and transportation sector to apply coatings to a variety of exterior and interior parts, such as metal surfaces, headlamp lenses, plastic parts, and trims.

Regional Segment Analysis of the UV Curable Resin Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the UV curable resin market over the predicted timeframe.

North America is anticipated to hold the largest share of the UV curable resin market over the predicted timeframe. The adoption of advanced technologies such as automation, artificial intelligence, and renewable energy solutions in the region is driving the UV curable resin market. Further, the growing environmental concerns led to strong demand for eco-friendly coatings with minimal VOCs contributing to bolstering the market growth.

Asia Pacific is expected to grow at the fastest CAGR growth of the UV curable resin market during the forecast period. The increased penetration of UV cured resins in the coatings and inks manufacturing segment is significantly contributing to driving the market. The growth of the paper & packaging, electrical & electronics, automotive, and building & construction industries are responsible for market growth of UV curable resin.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the UV curable resin market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• 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
• 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.

• In February 2023, iGM Resins, a global provider of energy curing raw material solutions, announced an exclusive supply and distribution agreement with Qualipoly Chemical Corp. The partnership would allow for the distribution of Qualipoly's full range of advanced energy curing resins across iGM Resinss network.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the 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, By 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 the Middle East & Africa