Non-acrylated oligoamines to hold second-largest share of the UV curable resins and formulated products market in 2023. Major manufacturers - Allnex Netherlands B.V. (Germany), Alberdingk Boley GmbH (Germany), BASF SE (Germany), Covestro AG (Germany), Wanhua Chemical Group Co., Ltd. (China)
NEWARK, DE / ACCESSWIRE / August 22, 2024 / The global UV curable resin and formulated products market had an estimated valuation of USD 5.5 billion in 2023 and is expected to reach a size of USD 17 billion by 2034, increasing at a CAGR of 10.5% between 2024 and 2034. By 2024, the UV curable resin and formulated products market is poised to reach a valuation of USD 6.2 billion.
Developing bio-based UV curable resins made from renewable resources like plant oils or biomass is one innovation propelling market expansion. The innovation satisfies customer demand and legal standards while meeting the growing need for sustainable and ecologically friendly products.
To increase productivity and minimize expenses, companies should concentrate on streamlining their manufacturing procedures. Technological innovations like 3D printing and UV LED curing offer new avenues for developing goods and market expansion. In the dynamic UV curable resin and formulated products industry, emphasizing sustainability strongly and providing extensive technical assistance enhances competitive positioning and promotes long-term success.
Key Takeaways from the Market Analysis
The global UV curable resin and formulated products market size reached USD 3.3 billion in 2019.
From 2019 to 2023, the UV curable resin and formulated products market experienced a CAGR of 14%.
Throughout the projection period, the UV curable resin and formulated products sector in the United States are expected to develop at a CAGR of 10.8%.
Oligomers are the most popular UV curable resin and formulated product compositions, and they are expected to expand at a CAGR of 10.3% through 2034.
With an anticipated 10.1% CAGR through 2034, UV-curable resin and formulated products are predicted to be increasingly utilized for coatings on paper and wood.
"Significant factors propelling the UV curable resin and formulated products market include increasing regulatory pressure and growing environmental concerns. Companies develop ecofriendly formulas with reduced volatile organic compounds (VOCs) to satisfy sustainability standards and lessen their influence on the environment"," says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.
Full Report URL: https://www.futuremarketinsights.com/reports/uv-curable-resin-and-formulated-products-market
Competitive Landscape
Companies within the UV curable resin and formulated products market are innovating by developing new chemistries and formulations to improve curing speed, adhesion, and flexibility.
They are also working to produce environmentally friendly alternatives by lowering volatile organic compound (VOC) emissions and using renewable resources. Advances in UV LED technology and 3D printing applications are driving innovation, allowing businesses to provide modern solutions for a variety of sectors.
Startups within the UV curable resin and formulated products market are disrupting the market with agile techniques, creating specialist formulations for specific uses such as electronics, healthcare, and environmentally friendly packaging. They use modern innovations like nanotechnology and bio based materials to distinguish themselves and conquer niche market niches.
Product Offerings
IGM Resins has a comprehensive product range that includes photoinitiators, monomers, oligomers, and additives for UV and EB (electron beam) curing applications. Their services are tailored to a variety of sectors, including coatings, inks, adhesives, and 3D printing, providing superior performance and adaptability.
Alberdingk Boley GmbH provides a diverse selection of high quality water based polyurethane dispersions, acrylic dispersions, and alkyd emulsions for a variety of coating applications. Their product line includes coatings for wood, paper, textiles, plastics, and other applications, serving sectors such as furniture, flooring, automotive, and packaging.
Key Segments Profiled in the UV Curable Resin and Formulated Products Market
By Composition:
Oligomers
Monomers
Photoinitiators
Additives
By Application:
Wood & Paper Coatings
Plastic Coatings
Metal Coatings
Printing Inks
Adhesives
3D Printing
By Region:
North America
Latin America
Western Europe
Eastern Europe
South Asia and Pacific
East Asia
The Middle East & Africa
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