Report Scope & Overview:
UV Curable Resins and Formulated Products Market Size was valued at expected to reach USD 13.03 billion by 2030, and USD 5.26 billion in 2022 and grow at a CAGR of 12% over the forecast period 2023-2030.
UV is a type of radiation that can be used to heal. Glues, coatings, and inks are the things that are used in this process. This technology can help heal people right away. For photopolymerization, ultraviolet light is used in many products, such as glues, inks, and coatings.
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There are many kinds of resins on the market today. They have a lot of different benefits that make them good for different uses. Some of the benefits of using it are that it is very productive, wastes less, and doesn't get too hot. This product is good for optical holding because it has a high energy density. These resins that harden can be put into two groups: oligomers and monomers.
In the past few years, polyester resins have become more popular. There are many ways to use them. Polyester and polyethene can use resins that harden when exposed to UV light. UV curable resins are in high demand because industrial coatings need to be very good. There is a huge need for this equipment in the developing countries. This market will grow quickly because more industrial work is being done. All of these things are likely to increase the market value of UV Curable Resins and Formulated Products as a whole.
Environmental worries, more people becoming aware, and strict rules
UV-curable resin coatings do a good job
Need to dry sensitive substrates with heat
High cost to set up
Putting together new technologies
UV inks are in high demand
Grain Raising in Wooden Substrates
Problems with the environment caused by dumping wastewater
Finishing Flaws Caused by Not Drying Enough
Impact of COVID-19:
Due to a drop in end-use applications, COVID-19 has hurt the demand for UV curable resins and formulated products all over the world. COVID-19 messed up the value chain of UV-curable resins at the start of 2020. China was hit hard by the pandemic, so the government told 21 provinces to stay inside. Wuhan and Hubei provinces are the most important places for manufacturing and trade, but they were shut down. This changed the supply chain of the market for UV curable resins and products made with them. Later, the pandemic spread to places in Europe and North America.
Because of the lockdowns in different countries, workers can't be sent to factories to make things. Demand from different applications has gone down because many projects had to stop because of strict lockdown rules. But the demand for UV-curable resins and products that are made with them is expected to rise as many applications reach their normal processing stages.
By Composition Type:
Solventborne UV resins
120% Solid UV resins
Waterborne UV resins
Powder UV resins
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Asia-Pacific, Europe, and North America are all different parts of the UV curable resins market. Asia and the Pacific has the most shares in the market. There are a lot of things that make people want to buy in this market. There is a leader at the top of the market, which has led to high growth. In Asia and the Pacific, there are new technological advances. A lot of end users will come to the market when new products come out. North America is another place where shares are high. It was one of the first places to use UV resins. In this area, demand is driven by the need for coatings that are good for the environment. Europe is another area with a lot of room to grow.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
Hitachi Chemical-Company Financial Analysis
|Market Size in 2022
|US$ 13.03 Billion
|Market Size by 2030
|US$ 5.26 Billion
|CAGR of 12% From 2023 to 2030
|Report Scope & Coverage
|Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
|• By Composition Type (Oligomers, Monomers, Photoinitiators, Additives)
• By Chemistry (Non-acrylated Oligoamines, Acrylate Oligomers)
• By Technology (Solventborne UV resins, 120% Solid UV resins, Waterborne UV resins, Powder UV resins)
• By Application (Coatings, Overprint Varnishes, Printing Inks, Adhesives, Others)
|North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Hitachi Chemical., Jiangsu Litian Technology Co., Ltd., TOAGOSEI CO., LTD., BASF SE, Arkema Group, Allnex Belgium S.A., DSM-AGI, Eternal Materials, Dymax Corporation, Jiangsu Sanmu Group Co., Ltd.)
|• Environmental worries, more people becoming aware, and strict rules
• UV-curable resin coatings do a good job
• Better qualities
|• Need to dry sensitive substrates with heat
• High cost to set up
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: Hitachi Chemical., Jiangsu Litian Technology Co., Ltd., TOAGOSEI CO., LTD., BASF SE, Arkema Group, Allnex Belgium S.A., DSM-AGI, Eternal Materials, Dymax Corporation, Jiangsu Sanmu Group Co., Ltd. are the major key players of UV Curable Resins and Formulated Products Market.
Ans: Due to a drop in end-use applications, COVID-19 has hurt the demand for UV curable resins and formulated products all over the world. COVID-19 messed up the value chain of UV-curable resins at the start of 2020. China was hit hard by the pandemic, so the government told 21 provinces to stay inside. Wuhan and Hubei provinces are the most important places for manufacturing and trade, but they were shut down. This changed the supply chain of the market for UV curable resins and products made with them. Later, the pandemic spread to places in Europe and North America.
Ans: Putting together new technologies and UV inks are in high demand are the opportunity for UV Curable Resins and Formulated Products Market.
Ans: UV Curable Resins and Formulated Products Market Size was valued at expected to reach USD 9.21 billion by 2028, and USD 4.7 billion in 2021 and grow at a CAGR of 12 % over the forecast period 2022-2028.
Table of Content:
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
22.214.171.124 United Kingdom
126.96.36.199 South Korea
188.8.131.52 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. UV Curable Resins and Formulated Products Market Segment, By Composition Type:
9. UV Curable Resins and Formulated Products Market Segment, By Chemistry:
9.1 Non-acrylated Oligoamines
9.2 Acrylate Oligomers
10. UV Curable Resins and Formulated Products Market Segment, By Technology:
10.1 Solventborne UV resins
10.2 120% Solid UV resins
10.3 Waterborne UV resins
10.4 Powder UV resins
11. UV Curable Resins and Formulated Products Market Segment, By Application:
11.2 Overprint Varnishes
11.3 Printing Inks
11. 5 Others
12. Regional Analysis
12.2 North America
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4.2 South Korea
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.3 South Africa
12.6.3 Rest of Latin America
13. Company Profile
13.1 Hitachi Chemical.
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Jiangsu Litian Technology Co., Ltd.
13.3 TOAGOSEI CO., LTD.
13.4 BASF SE
13.5 Arkema Group
13.6 Allnex Belgium S.A.
13.8 Eternal Materials
13.9 Dymax Corporation
13.10 Jiangsu Sanmu Group Co., Ltd.
14. Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share analysis
14.3 Recent Developments
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