UV-Curable Resins Market by Composition (Oligomers, Monomers, Photoinitiators, Additives), Chemistry (Non-Acrylated Oligoamines, Acrylate Oligomers), Application, Technology, End-use Industry and Region - Global Forecast to 2029
The UV-curable resins market is estimated at USD 6.48 billion in 2024 and is projected to reach USD 9.31 billion by 2029, at a CAGR of 7.5% from 2024 to 2029. Oligomers possesses very versatile range of applications in inks, adhesives, and coatings due to its favorable physical properties like chemical resistance, flexibility along with good adhesion strength. Oligomers can be further used to produce rigid or soft polymers as per the application requirements in various end-use industries. Oligomers effectively offers superior performance in the UV-curing applications.
Scope of the Report
Years Considered for the Study
2020-2029
Base Year
2023
Forecast Period
2024-2029
Units Considered
Value (USD Million/Billion), Volume (Kiloton)
Segments
By Composition, By Chemistry, By Technology, By Application, By End-Use Industry, and Region
Regions covered
Europe, North America, Asia Pacific, South America, Middle East, and Africa
''In terms of value, solvent-borne UV resins segment accounted for the third largest share of the overall UV-curable resins market.''
In 2023, the solvent-borne UV resins segment accounted for the third largest share of the overall UV-curable resins market, in terms of value. These formulations get derived from the mixture of one/two component systems along with the variety of binders that are commercially available. These UV resins are popular due to delivering high performance in the diverse coating applications in multiple end-use industries. Solventborne UV resins formulations get majorly used in industrial coatings, printing inks and automotive coatings. Along with these, they also get preferred in containment lining, tank interiors, and flooring systems.
''In terms of value, coatings application segment accounted for the largest share of the overall UV-curable resins market.''
In 2023, coatings application accounted for the largest market share in the global UV-curable resins market. The usage of UV-curable coatings has been significantly increased during last few years especially in electronics industry into laptops, game console coatings and mobile phones. This coating offers excellent performance along with high durability, good wear resistance, and chemical resistance. Global shift towards the environmentally friendly coatings is driving the market for UV-curable resins in coating applications.
In terms of value, Automotive segment accounted for the second largest share of the overall UV-curable resins market.''
The automotive segment accounted for the third largest share of the UV-curable resins market, in 2023, in terms of value. UV-curable resins are getting essentially used for coating applications in the automotive industry due to its excellent resistance to chemicals, UV radiation, and heat. These coatings are getting widely preferred in various parts such as interiors, exteriors and headlights of the automobiles. UV-curable coating can be effective in various components such as trims, headlamps, metal parts, brake discs, and other exterior components. The increasing advancements and adoption of electric and autonomous vehicles is fueling the demand for advanced coatings such as UV-curable coatings from the industry.
"During the forecast period, the UV-curable resins market in Europe region is projected to be the second largest region."
The growth of UV-curable resins in Europe is fuelled by the presence of large number of UV-curable resin manufacturers such as Covestro AG (Germany, BASF SE (Germany), and Allnex Netherlands B.V. (Germany). These key players have international partnerships and collaborations, contributing to the considerable regional market. Growing electrical & electronics, automotive, wood & furniture, and paper & packaging industries are expected to drive the demand for UV-curable resins for various applications. Environmental regulations along with Government initiatives are expected to further fuel the growth of the market in Europe.
This study has been validated through primary interviews with industry experts globally. These primary sources have been divided into the following three categories:
By Company Type- Tier 1- 55%, Tier 2- 25%, and Tier 3- 20%
By Designation- C Level- 50%, Director Level- 30%, and Others- 20%
By Region- North America- 20%, Europe- 25%, Asia Pacific- 25%, South America- 15%, Middle East & Africa (MEA)-15%.
The report provides a comprehensive analysis of company profiles:
Prominent companies include Allnex Netherlands B.V. (Germany), BASF SE (Germany), Covestro AG (Germany), Wanhua Chemical Group Co., Ltd. (China), Alberdingk Boley GmbH (Germany), Miwon Specialty Chemical Co., Ltd. (South Korea), IGM Resins (Netherlands), Resonac Holdings Corporation (Japan), Dexerials Corporation (Japan), DIC Corporation (Japan), Arkema (France), Threebond International, Inc. (US), Eternal Materials Co., Ltd. (Taiwan), Toagosei Co., Ltd. (Japan), and Nissan Chemical Corporation (Japan).
Research Coverage
This research report categorizes the UV-curable resins market By Composition (Oligomers, Monomers, Photoinitiators, Additives), Chemistry (Acrylate Oligomers and Non-Acrylated Oligoamines), Technology (Solventborne UV Resins, 100% Sold UV Resins, Waterborne UV Resins, Powder UV Resins), Application (Coatings, Overprint Varnish, Printing Inks, Adhesives, 3D Printing, Other Applications), End-use Industry (Wood & Furniture, Electrical & Electronics, Automotive, Paper & Packaging, Building & Construction, Other End-use Industries), Region (North America, Europe, Asia Pacific, the Middle East & Africa, and South America). The scope of the report includes detailed information about the major factors influencing the growth of the UV-curable resins market, such as drivers, restraints, challenges, and opportunities. A thorough examination of the key industry players has been conducted in order to provide insights into their business overview, solutions, and services, key strategies, contracts, partnerships, and agreements. New product and service launches, mergers and acquisitions, and recent developments in the UV-curable resins market are all covered. This report includes a competitive analysis of upcoming startups in the UV-curable resins market ecosystem.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall UV-curable resins market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
Analysis of key drivers (Environmental concerns, growing awareness, and stringent regulations, High performance of UV-curable resin coatings), restraints (Requires significant initial investments, Limited substrate compatibility), opportunities (Advancements in the technologies, Growing demand for UV-curable inks), and challenges (Overcoming grain raising in wooden substrate, Environmental challenges about wastewater discharge) influencing the growth of the UV-curable resins market
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in UV-curable resins market.
Market Development: Comprehensive information about lucrative markets - the report analyses the UV-curable resins market across varied regions.
Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the UV-curable resins market
Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Allnex Netherlands B.V. (Germany), BASF SE (Germany), Covestro AG (Germany), Wanhua Chemical Group Co., Ltd. (China), Alberdingk Boley GmbH (Germany), Miwon Specialty Chemical Co., Ltd. (South Korea), IGM Resins (Netherlands), Resonac Holdings Corporation (Japan), Dexerials Corporation (Japan), DIC Corporation (Japan), Arkema (France), Threebond International, Inc. (US), Eternal Materials Co., Ltd. (Taiwan), Toagosei Co., Ltd. (Japan), and Nissan Chemical Corporation (Japan), among others in the UV-curable resins market.
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED AND REGIONAL SCOPE
1.3.2 INCLUSIONS AND EXCLUSIONS
1.3.3 YEARS CONSIDERED
1.3.4 CURRENCY CONSIDERED
1.4 STAKEHOLDERS
1.5 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH APPROACH
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Breakdown of interviews with experts
2.1.2.3 Key interview participants
2.1.2.4 Key industry insights
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.2 TOP-DOWN APPROACH
2.3 BASE NUMBER CALCULATION
2.3.1 APPROACH 1: SUPPLY-SIDE ANALYSIS
2.3.2 APPROACH 2: DEMAND-SIDE ANALYSIS
2.4 MARKET FORECAST
2.4.1 SUPPLY SIDE
2.4.2 DEMAND SIDE
2.5 DATA TRIANGULATION
2.6 FACTOR ANALYSIS
2.7 RESEARCH ASSUMPTIONS
2.8 RESEARCH LIMITATIONS
2.9 RISK ASSESSMENT
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN UV-CURABLE RESINS MARKET
4.2 UV-CURABLE RESINS MARKET, BY APPLICATION AND REGION, 2023
4.3 UV-CURABLE RESINS MARKET, BY COMPOSITION
4.4 UV-CURABLE RESINS MARKET, BY CHEMISTRY
4.5 UV-CURABLE RESINS MARKET, BY ACRYLATES
4.6 UV-CURABLE RESINS MARKET, BY TECHNOLOGY
4.7 UV-CURABLE RESINS MARKET, BY END-USE INDUSTRY
4.8 UV-CURABLE RESINS MARKET, BY KEY COUNTRY
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Growing demand for sustainable and eco-friendly products
5.2.1.2 Environmental concerns, growing awareness, and stringent regulations
5.2.1.3 High performance of UV-curable resin coatings
5.2.2 RESTRAINTS
5.2.2.1 Requires significant initial investment
5.2.2.2 Limited substrate compatibility
5.2.3 OPPORTUNITIES
5.2.3.1 Advancements in technologies
5.2.3.2 Growing demand for UV-curable inks
5.2.4 CHALLENGES
5.2.4.1 Overcoming grain raising in wooden substrates
5.2.4.2 Environmental challenges due to wastewater discharge
5.3 PORTER'S FIVE FORCES ANALYSIS
5.3.1 THREAT OF NEW ENTRANTS
5.3.2 THREAT OF SUBSTITUTES
5.3.3 BARGAINING POWER OF SUPPLIERS
5.3.4 BARGAINING POWER OF BUYERS
5.3.5 INTENSITY OF COMPETITIVE RIVALRY
5.4 KEY STAKEHOLDERS AND BUYING CRITERIA
5.4.1 KEY STAKEHOLDERS IN BUYING PROCESS
5.4.2 BUYING CRITERIA
5.5 SUPPLY CHAIN ANALYSIS
5.5.1 RAW MATERIAL
5.5.2 MANUFACTURERS
5.5.3 DISTRIBUTORS
5.5.4 END USERS
5.6 ECOSYSTEM
5.7 PRICING ANALYSIS
5.7.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY TYPE
5.7.2 AVERAGE SELLING PRICE TREND, BY COMPOSITION
5.7.3 AVERAGE SELLING PRICE TREND, BY TECHNOLOGY
5.7.4 AVERAGE SELLING PRICE TREND, BY END-USE INDUSTRY
5.7.5 AVERAGE SELLING PRICE TREND, BY REGION
5.8 VALUE CHAIN ANALYSIS
5.9 TRADE ANALYSIS
5.9.1 EXPORT SCENARIO BY VALUE (HS CODES 39073090, 39079900, AND 39079900)
5.9.2 IMPORT SCENARIO BY VALUE (HS CODES 39073090, 39079900, AND 39079900)
5.9.3 EXPORT SCENARIO BY VOLUME (HS CODES 39073090, 39079900, AND 39079900)
5.9.4 IMPORT SCENARIO BY VOLUME (HS CODES 39073090, 39079900, AND 39079900)
5.10 TECHNOLOGY ANALYSIS
5.11 IMPACT OF AI/GEN AI ON UV-CURABLE RESINS MARKET
5.11.1 TOP USE CASES AND MARKET POTENTIAL
5.11.2 BEST PRACTICES IN UV-CURABLE RESINS MARKET
5.11.3 CASE STUDIES OF AI IMPLEMENTATION IN UV-CURABLE RESINS MARKET
5.11.4 CLIENTS' READINESS TO ADOPT GENERATIVE AI IN UV-CURABLE RESINS MARKET
5.12 UV-CURABLE RESINS PATENT ANALYSIS
5.12.1 INTRODUCTION
5.12.2 METHODOLOGY
5.12.3 DOCUMENT TYPES
5.12.4 INSIGHTS
5.12.5 LEGAL STATUS
5.12.6 JURISDICTION ANALYSIS
5.12.7 TOP APPLICANTS
5.12.8 TOP 10 PATENT OWNERS (US) IN LAST 10 YEARS
5.13 REGULATORY LANDSCAPE
5.13.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.14 KEY CONFERENCES AND EVENTS IN 2024-2025
5.15 CASE STUDY ANALYSIS
5.15.1 OVERCOMING CHALLENGES WITH RESONAC HOLDING CORPORATION'S NEW UV-CURABLE RESIN FOR SUSTAINABLE COATINGS
5.15.2 UV-CURABLE RESINS FOR AUTOMOTIVE PARTS WITH 3D PRINTING
5.16 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.17 INVESTMENT AND FUNDING SCENARIO
6 UV-CURABLE RESINS MARKET, BY COMPOSITION
6.1 INTRODUCTION
6.2 OLIGOMERS
6.2.1 IMPART BASIC PROPERTIES IN ALL APPLICATIONS
6.3 MONOMERS
6.3.1 WIDE USE OF MONOMERS IN COATINGS AND INKS
6.4 PHOTOINITIATORS
6.4.1 DEVELOPMENT OF DIFFERENT PHOTOINITIATORS WITH DIFFERENT ABSORPTION SPECTRA
6.5 ADDITIVES
6.5.1 INCREASING ADOPTION IN ARCHITECTURAL COATINGS, WOOD COATINGS, AUTOMOTIVE COATINGS, AND COILS
7 UV-CURABLE RESINS (OLIGOMERS) MARKET, BY CHEMISTRY
7.1 INTRODUCTION
7.2 NON-ACRYLATED OLIGOAMINES
7.3 ACRYLATE OLIGOMERS
7.3.1 EPOXY ACRYLATES
7.3.2 POLYETHER/POLYESTER ACRYLATES
7.3.3 URETHANE ACRYLATES
7.3.4 OTHERS
8 UV-CURABLE RESINS MARKET, BY APPLICATION
8.1 INTRODUCTION
8.2 COATINGS
8.2.1 INCREASING DEMAND FOR UV-CURABLE RESINS IN FLEXIBLE PACKAGING INDUSTRY
8.3 OVERPRINT VARNISH
8.3.1 HIGH DEMAND FOR PRODUCING QUALITY FOOD PACKAGING SYSTEMS
8.4 PRINTING INKS
8.4.1 MULTIPLE BENEFITS OF UV INKS OVER OTHER INKS
8.5 ADHESIVES
8.5.1 INCREASING PRODUCTION EFFICIENCY AND POPULARITY OF UV ADHESIVES
8.6 3D PRINTING
8.6.1 GROWING DEMAND FOR 3D PRINTING FROM VARIOUS INDUSTRIES
8.7 OTHER APPLICATIONS
9 UV-CURABLE RESINS MARKET, BY TECHNOLOGY
9.1 INTRODUCTION
9.2 SOLVENTBORNE UV RESINS
9.2.1 WIDE USE IN AUTOMOTIVE COATINGS
9.3 100% SOLID UV RESINS
9.3.1 DURABLE, COST-EFFECTIVE, AND LESS HARMFUL TO ENVIRONMENT
9.4 WATERBORNE UV RESINS
9.4.1 EASY TO USE, ENVIRONMENTALLY FRIENDLY, AND COST-EFFECTIVE
9.5 POWDER UV RESINS
9.5.1 ECO-FRIENDLY PROCESS SUPPORTING MARKET GROWTH
10 UV-CURABLE RESINS MARKET, BY END-USE INDUSTRY
10.1 INTRODUCTION
10.2 WOOD & FURNITURE
10.2.1 DEMAND FOR HIGH-PERFORMANCE UV-CURABLE WOOD COATINGS
10.3 ELECTRICAL & ELECTRONICS
10.3.1 EXCELLENT ADHESION AND THERMAL STABILITY DRIVING MARKET
10.4 AUTOMOTIVE
10.4.1 TECHNOLOGICAL ADVANCEMENTS TO DRIVE MARKET
10.5 PAPER & PACKAGING
10.5.1 GROWING USE OF UV-CURABLE INKS FOR FOOD PACKAGING
10.6 BUILDING & CONSTRUCTION
10.6.1 FASTER PRODUCTION RATES TO FUEL SEGMENT GROWTH
10.7 OTHER END-USE INDUSTRIES
11 UV-CURABLE RESINS MARKET, BY REGION
11.1 INTRODUCTION
11.2 NORTH AMERICA
11.2.1 US
11.2.1.1 Growing consumer demand for UV-cured coatings
11.2.2 CANADA
11.2.2.1 Advancements in technologies
11.2.3 MEXICO
11.2.3.1 Increasing environmental regulations for coating applications
11.3 EUROPE
11.3.1 GERMANY
11.3.1.1 Robust manufacturing base
11.3.2 UK
11.3.2.1 Rising demand from wood & furniture industry
11.3.3 SWEDEN
11.3.3.1 Stringent regulations to lower industrial emissions
11.3.4 ITALY
11.3.4.1 Growing demand for high-quality decorative coatings
11.3.5 SPAIN
11.3.5.1 Surging demand for printing applications
11.3.6 RUSSIA
11.3.6.1 Increasing demand for UV coatings in numerous end-use industries
11.3.7 BELGIUM
11.3.7.1 Increasing demand for waterborne UV-curable resins
11.3.8 FRANCE
11.3.8.1 Development of low VOC emitting UV coatings for sustainability
11.3.9 REST OF EUROPE
11.4 ASIA PACIFIC
11.4.1 CHINA
11.4.1.1 Rapid and sustainable development
11.4.2 JAPAN
11.4.2.1 Presence of major UV-curable resin manufacturers
11.4.3 INDIA
11.4.3.1 Increasing consumer awareness for environmentally friendly products
11.4.4 SOUTH KOREA
11.4.4.1 Growing use of high-performance coatings in automotive and electronics industries
11.4.5 REST OF ASIA PACIFIC
11.5 MIDDLE EAST & AFRICA
11.5.1 GCC COUNTRIES
11.5.1.1 UAE
11.5.1.1.1 Advanced UV curing technologies to lower energy consumption
11.5.1.2 Saudi Arabia
11.5.1.2.1 Mega infrastructure projects to fuel market growth
11.5.1.3 Rest of GCC countries
11.5.2 SOUTH AFRICA
11.5.2.1 Stringent regulations to promote sustainable UV coatings
11.5.3 REST OF MIDDLE EAST & AFRICA
11.6 SOUTH AMERICA
11.6.1 BRAZIL
11.6.1.1 Strong focus on reducing harmful emissions increasing consumption of non-solvent-based products
11.6.2 ARGENTINA
11.6.2.1 High growth of construction industry driving market
11.6.3 REST OF SOUTH AMERICA
12 COMPETITIVE LANDSCAPE
12.1 OVERVIEW
12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN
12.3 REVENUE ANALYSIS, 2019-2023
12.4 MARKET SHARE ANALYSIS
12.4.1 MARKET RANKING
12.5 BRAND/PRODUCT COMPARISON
12.6 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
12.6.1 STARS
12.6.2 EMERGING LEADERS
12.6.3 PERVASIVE PLAYERS
12.6.4 PARTICIPANTS
12.6.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
12.6.5.1 Company footprint
12.6.5.2 Composition footprint
12.6.5.3 Chemistry footprint
12.6.5.4 Application footprint
12.6.5.5 Technology footprint
12.6.5.6 End-use industry footprint
12.6.5.7 Region footprint
12.7 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023