UV Curable Resin Market Size

The demand for environment-friendly paint & coating and architectural coatings has driven the growth of the global UV curable resin market.

WILMINGTON, DELAWARE, UNITED STATES, February 22, 2024 /EINPresswire.com/ -- Allied Market Research has published a report titled "UV Curable Resin Market by Resin Type (Acrylated Epoxies, Acrylated Polyesters, Acrylated Urethanes, Acrylated Silicones, and Others) and Application (Coating, Packaging, Printing, Adhesives & Sealants, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026". The global UV curable resin industry garnered $4.74 billion in 2018 and is expected to reach $9.76 billion by 2026, registering a CAGR of 9.4% from 2019 to 2026.

The demand for environment-friendly paint & coating and architectural coatings has driven the growth of the global UV curable resin market. However, variations in raw material prices and the limited depth of light penetration have hindered market growth. Conversely, strict regulations regarding green initiatives have opened new opportunities in the market.

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Based on resin type, the acrylated epoxies segment held the highest market share in the global UV curable resin market, contributing to more than one-third of the total share in terms of revenue in 2018. This segment is expected to maintain its dominant share throughout the forecast period due to high cure rates and excellent adhesion performance.

The coating segment accounted for nearly one-third of the total share of the global UV curable resin market in 2018 and is expected to continue its lead position during the forecast period. This is due to demand for zero VOC content in coating and a surge in usage in dispersants & wetting, driers, defoamers, powder coating additives, dearators, and flow & leveling.

In terms of region, Asia-Pacific held more than one-third of the total market share of the global UV curable resin market in 2018, followed by North America contributing to less than one-third of the share. The Asia-Pacific region is estimated to maintain its dominance in terms of revenue by 2026 and is projected to register the highest growth rate with a CAGR of 10.6% from 2019 to 2026, attributed to the rise of the paints and coating industry and increased usage in the automotive industry.

Market players holding the largest pie include Hitachi Chemical, DSM-AGI, BASF SE, Allnex Belgium S.A., Jiangsu Litian Technology, IGM, Sartomer, Dymax, Miwon Specialty Chemical, Eternal Materials, and Jiangsu Sanmu Group.

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