The global UV curable resin and formulated products market is set for significant growth, projected to reach a valuation of USD 6.2 billion by 2024. This market is anticipated to expand at an impressive CAGR of 10.5% from 2024 to 2034, culminating in a total market size of approximately USD 17 billion by 2034. This robust growth trajectory is driven by increasing demand across various industries, including electronics, automotive, and packaging, where UV curable resins offer advantages such as rapid curing times, improved product performance, and environmental benefits due to lower volatile organic compound (VOC) emissions. The adoption of UV curable technology is expected to be further bolstered by advancements in formulations and the rising trend of sustainable manufacturing practices.
The development of 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. Utilizing technological innovations like 3D printing and UV LED curing offers new avenues for developing goods and market expansion. In the dynamic UV curable resin and formulated products industry, placing a strong emphasis on sustainability and providing extensive technical assistance enhances competitive positioning and promotes long term success.
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Key Takeaways from the Market Analysis
- The global UV curable resin and formulated products market size reached US$ 3.3 billion in 2019.
- From 2019 to 2023, the UV curable resin and formulated products market experienced a CAGR of 14%.
- Over the course of the projection period, the UV curable resin and formulated products sector in the United States is 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, the 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 an FMI analyst.
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.
Top Key Players
- IGM Resins
- Alberdingk Boley GmbH
- Showa Denko Materials Co
- Miwok Specialty Chemical Co. Ltd
- BASF SE
- Wanhua Chemical Group
- Covestro AG
- Allnex Netherlands B.V
- Alberdingk Boley GmbH
- Others
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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.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the UV curable resin and formulated products market, providing historical data for 2019 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the UV curable resin and formulated products market, the market is segmented on the basis of composition (oligomers, monomers, photoinitiators, additives), application (wood & paper coatings, plastic coatings, metal coatings, printing inks, adhesives, 3D printing), and region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East & Africa).
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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