San Francisco, 7 January 2019: The Report Ultraviolet (UV) Curable Resins Market Analysis By Composition (Monomers, Oligomers,
Photoinitiator), By Application (Wood Coatings, Graphics Art, Industrial,
Automotive) And Segment Forecasts To 2024
The global ultraviolet
(UV) curable resins market is expected to reach USD 4.67 billion,
according to a new report by Grand View Research, Inc. Rise in the industrial
sector especially in Asia Pacific is one of the major driving factors for the
growth of UV curable resins market.
Increasing
concern regarding growing VOC emissions has resulted in the development of new
low emission products. UV curable resins emit minimal to zero VOCs and are not
volatile in nature. These resins produce less shrinkage, the line of sight
curing and provide many advantages over traditional methods. Development of
renewable raw materials for manufacturing these curable resins is anticipated
to drive the market.
UV
curable resins are widely used in wood coatings, graphics art, automotive and
industrial application. With the increase in industrialization across the
globe, there is a surge in the demand for eco-friendly products. Manufacturing
companies across the world are focusing and investing in R&D activities for
the innovation of new technologies to produce environmental - friendly
products.
Ultraviolet
curable resins in industrial application are expected to be the fastest-growing
segment and are anticipated to hold over 40% of the total demand by 2024.
Growth in the construction and electronics & electrical industry
particularly in emerging markets of Asia Pacific & Latin American is
expected to drive the UV curable resins demand in industrial segment.
Access Research Report
of UV Curable Resins Market @ www.grandviewresearch.com/industry-analysis/uv-curable-resins-market
Further key findings
from the report suggest:
· The
global ultraviolet curable resins market demand was 465.9 kilo tons in 2015 and
is expected to exceed 1 million tons by 2024, growing at a CAGR of 9.2% from
2016 to 2024
· In
2015, monomers held the largest market and were worth over USD 1.00 billion.
Monomers are the major components in manufacturing UV curable resins which are
further used in coatings, adhesives, and inks.
· Photoinitiators
are expected to witness the fastest growth rate over the next eight years. The
companies are trying to develop new photoinitiators for manufacturing curable
resins and expand the breadth of objects to be cured.
· In
2015, North America was the largest market and accounted for 32.1% of total
market volume in 2015. The huge investment in R&D for new photoinitiators
technology development in the U.S. is the major factor for the regional
industry growth.
· Asia
Pacific is expected to be the fastest growing market over the next eight years.
The region has been witnessing a remarkable growth in the construction and
electrical & electronics industry, especially in India, Indonesia,
Thailand, South Korea and other countries in the region. The growth in these
industries is the major factor in the rising demand for these curable resins in
the region.
· Key
companies in the industry include BASF SE, Covestro AG, The Nippon Synthetic
Chemical Industry Co., Ltd, Allnex Belgium SA/NV, Hitachi Chemical Co., Ltd,
IGM Resins B.V., Eternal Materials Co., Ltd., Sartomer, Jiangsu Sanmu Group
Corporation, DSM N.V, SolTech Ltd., and Toagosei Co., Ltd.
Browse more
reports of this category by Grand View Research at: www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand
View Research has segmented the ultraviolet (UV) curable resins market on the
basis composition, application and region:
Composition Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014 - 2024)
·
Monomers
·
Oligimers
·
Photoinitiators
·
Others
Application Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014 - 2024)
·
Wood
Coating
·
Graphics
Art
·
Industrial
·
Automotive
·
Others
Regional Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014 - 2024)
·
North
America
·
Europe
·
Asia
Pacific
·
Middle
East & Africa
·
Central
& South America
Access Press Release of UV Curable Resins
Market@ www.grandviewresearch.com/press-release/global-uv-curable-resins-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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