Technological advancement are impacting the global UV-cured resin market. Due to this impact the global UV cured resins market is expected to grow exponentially to $5650 million by 2021 with an impressive CAGR of 9% during the forecasted period of 2015-2021. Among the key factors driving the growth of UV-cured resins market rapidly developing industries in the emerging economies such as APAC during the forecasted period. In addition, the growth of chemical curing market is also led by various technological developments happening in the space.
The UV cured resins are also dependent upon the export demand of crude oil. It has been observed that the this export demand is losing glory which is also a positive sign for the global market and is one of the major drivers of the global UV cured resins market during the forecasted period. However, there are many other factors that can be an obstruction in the smooth growth in the market. Some of these factors include hazardous effects on health which is undoubtedly a primary concern and is a potential challenge before the UV cured resins industry.
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UV cured resins find their usage in number of applications such as inks, coating products, and adhesives. The demand of inks in printing is growing rapidly and is expected to have a positive contribution to the growth of global UV cured resins during the forecasted period. UV curable resins is segmented on the basis of mode of application, end user, composition and geography. On the basis of application, the market the market is segmented into adhesives, masking materials, inks and pre-coated Gaskets market.
The UV cured resins market is growing on the back of technological advancement. Tech advancement is can be seen on a large scale in Latin America and Asia Pacific which has also resulted in the growth in demand of UV curable resins. In addition, cohesive government supports such as emission standards and laws by governments in different countries are also leading the industries worldwide to increase the usage of UV-cured resins in the form of eco-green coatings.
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On the basis of geography, North America is a clear leader in the global UV cured resins market however, APAC is the fastest growing market of global UV cured resins which is estimated to be growing at a CAGR of 9.3% during the forecasted period.
1. ALLNEX BELGIUM SA
2. BASF SE
3. DSM-AGI CORP
4. DYMAX CORP
5. ETERNAL MATERIALS CO
6. HITACHI CHEMICAL CO LTD
7. IGM RESINS B.V
8. JIANGSU LITIAN TECHNOLOGY CO
9. JIANGSU SANMU GROUP CORPORATION
10. MIWON SPECIALTY CHEMICALS CO
11. SARTOMER USA LLC
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