Global UV Curable Resins Market 2017-2021
About UV Curable Resins
Ultraviolet (UV) curing refers to a photochemical process in which high-intensity UV light is used to achieve an instant cure or dry inks or coatings. In other words, UV curing refers to a method of radiation curing by the employment of which numerous materials are cured including coatings, adhesives, inks, and others. It is a technology which permits instant curing or drying on the application of UV light on products to cause photopolymerization.
Technavio’s analysts forecast the global UV curable resins market to grow at a CAGR of 8.80% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global UV curable resins market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global UV Curable Resins Market 2017-2021
Technavio recognizes the following companies as the key players in the global UV curable resins market: BASF, Dymax Corporation, Hitachi Chemicals, Royal DSM, and SANMU GROUP.
Other Prominent Vendors in the market are: allnex group, Arkema, Eternal Materials, IGM, Miwon Specialty Chemical, TOAGOSEI, and The Nippon Synthetic Chemical Industry.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is development of improved and modern photoinitiators. UV curable resins have proved to be one of the fastest growing technologies pertaining to coatings, adhesives, graphic arts, and other industries. UV curing technology, for its excellent physical and chemical resistance properties is being extensively used. Favorably, the global UV curable resins market is witness to emerging trends. One of the latest trends in the market is the development of improved and modern photoinitiators.”
According to the report, one driver in the market is high penetration of UV curable resins in coatings for consumer electronics. The electronic industry is one of the prominent industries worldwide and has a significant contribution to the growth of the UV curable resins market. The demand for UV curable resins is predominant in the APAC as it is the largest consumer of electronics in the world. In the electronics segment, UV curable resins are used extensively for a wide range of applications including laptops, mobile phones, game console coatings, and others.
Further, the report states that one challenge in the market is poor breadth of portfolio accompanied by long-standing misconception. The global UV curable resins market is hindered by the poor penetration of UV curable resins in different markets, particularly when it comes to coatings. There exist a number of markets in which UV coatings have not made a mark. For instance, products including outdoor siding demand high weatherability and have not witnessed the positive benefits offered by UV coatings. Automotive finishes represent yet another area where UV coatings for both interior and exterior finishes need to be improved.
BASF, Dymax Corporation, Hitachi Chemicals, Royal DSM, SANMU GROUP, allnex group, Arkema, Eternal Materials, IGM, Miwon Specialty Chemical, TOAGOSEI, and The Nippon Synthetic Chemical Industry.
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