The UV curable resin and formulated products market had an estimated market share worth USD 5.5 billion in 2023, and it is predicted to reach a global market valuation of USD 17 billion by 2034, growing at a CAGR of 10.5% from 2024 to 2034.
Report Attribute | Details |
---|---|
Estimated Market Value in 2023 | USD 5.5 billion |
Expected Market Value in 2024 | USD 6.2 billion |
Projected Forecast Value in 2034 | USD 17 billion |
Anticipated Growth Rate from 2024 to 2034 | 10.5% |
The global demand for the UV curable resin and formulated products market was estimated to reach a valuation of USD 3.3 billion in 2019, according to a report from Future Market Insights. From 2019 to 2023, the UV curable resin and formulated products market witnessed significant growth, registering a CAGR of 14%.
Historical CAGR from 2019 to 2023 | 14% |
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Forecast CAGR from 2024 to 2034 | 10.5% |
Growing applications in sectors like electronics, automotive, and healthcare are driving up demand for UV curable resin and formulation products. These industries need high performance coatings with attributes such as quick curing, good adhesion, and durability, which UV curable solutions offer, hence supporting market development and innovation.
The development of bio based UV curable resins made from renewable resources like plant oils or biomass is a recent development in the UV curable resin market. These resins address growing environmental concerns and the developing market for eco friendly coatings by providing sustainable substitutes for conventional resins based on petrochemicals.
Eco Friendly Trend and Innovations in UV Technology to Boost Sales
Concerns about VOC emissions and their ecological effect are driving industry to move toward eco friendly UV curable solutions in response to growing environmental awareness and legislation. Strict laws everywhere encourage adoption, which fuels market expansion.
Technological developments, especially in UV LED curing, are essential to the market growth. Compared to conventional UV lamp curing systems, UV LED technology has a number of benefits, such as lower energy usage, a longer lifespan, and less heat output. For end users, these advantages translate into lower costs and increased productivity.
Limited Compatibility and Higher Initial Cost Challenges to Impede the Market Growth
This section focuses on providing detailed analysis of two particular market segments for UV curable resin and formulated products, the dominant composition and the significant application. The two main segments discussed below are the oligomers and wood and paper coatings.
Composition | Oligomers |
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CAGR from 2024 to 2034 | 10.3% |
The oligomers segment is anticipated to expand with a 10.3% CAGR through 2034. Oligomers are becoming the most popular composition in this market due to their adaptability, which enables customized formulations with exact control over characteristics like viscosity, flexibility, and curing speed.
Oligomers help coatings with better mechanical strength, adhesion, and chemical resistance, which makes it possible to build high performance solutions for a variety of industries and application needs.
Application | Wood & Paper Coatings |
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CAGR from 2024 to 2034 | 10.1% |
During the forecast period, the wood and paper coatings segment is likely to garner a 5.2% CAGR. For wood and paper coatings, UV curable resin and formulated products are the best option because of their rapid curing times, great adherence, and high surface hardness.
These materials are perfect for high quality coatings in these applications since they provide improved chemical and scratch resistance, minimal volatile organic compounds (VOC) emissions, and fast production procedures.
This section will go into detail on the UV curable resin and formulated products markets in a few key countries, including the United States, the United Kingdom, China, Japan and South Korea. This segment will focus on the key factors that are driving up demand in these countries for UV curable resin and formulated products.
Countries | CAGR from 2024 to 2034 |
---|---|
The United States | 10.8% |
The United Kingdom | 11.6% |
China | 11.4% |
Japan | 12% |
South Korea | 13% |
The United States UV curable resin and formulated products ecosystem is anticipated to gain a CAGR of 10.8% through 2034. Factors that are bolstering the growth are:
The UV curable resin and formulated products market in the United Kingdom is expected to expand with a 11.6% CAGR through 2034. The factors pushing the growth are:
The UV curable resin and formulated products ecosystem in China is anticipated to flourish at an 11.4% CAGR from 2024 to 2034. The drivers behind this growth are:
The UV curable resin and formulated products industry in Japan is anticipated to expand at a 12% CAGR from 2024 to 2034. The drivers propelling growth forward are:
The UV curable resin and formulated products ecosystem in South Korea is likely to evolve with a 13% CAGR during the forecast period. The factors bolstering the growth are:
There may be times when the companies in this market can be subjected to a declining growth curve. In such scenarios, they might well in advance have tactical plans in place to combat the negative growth and curve a positive growth curve. They can implement some of the following strategies:
In response to a Downturn in Growth
Key players in the global UV curable resin and formulated products market are emphasizing on innovation to provide new formulations customized to a wide range of applications. They invest heavily in research and development to improve product performance, durability, and environmental sustainability.
Alliances and acquisitions are used to increase market presence and technology capabilities. Companies also stress customer centric methods, providing tailored solutions and technical assistance to match changing industry demands. Business leaders seek technical progress, market expansion, and customer satisfaction to sustain their competitive advantage. The key players in this market include:
Significant advancements in the UV curable resin and formulated products market are being made by key market participants, and these include:
Report Attribute | Details |
---|---|
Growth Rate | CAGR of 10.5% from 2024 to 2034 |
Market value in 2024 | USD 6.2 billion |
Market value in 2034 | USD 17 billion |
Base Year for Estimation | 2023 |
Historical Data | 2019 to 2023 |
Forecast Period | 2024 to 2034 |
Quantitative Units | USD billion for value |
Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
Segments Covered |
Composition, Application, Region |
Region Covered |
North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa |
Countries Profiled |
The United States, Canada, Brazil, Mexico, Germany, The United Kingdom,France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
Key Companies Profiled |
IGM Resins; Alberdingk Boley GmbH; Showa Denko Materials Co; Miwok Specialty Chemical Co. Ltd; BASF SE; Wanhua Chemical Group; Covestro AG; Allnex Netherlands B.V; Alberdingk Boley GmbH; Others |
Customization Scope | Available on Request |
Table 1: Global Market Value (US$ Million) Forecast by Region, 2019 to 2034
Table 2: Global Market Volume (Tons) Forecast by Region, 2019 to 2034
Table 3: Global Market Value (US$ Million) Forecast by Composition, 2019 to 2034
Table 4: Global Market Volume (Tons) Forecast by Composition, 2019 to 2034
Table 5: Global Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 6: Global Market Volume (Tons) Forecast by Application, 2019 to 2034
Table 7: North America Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 8: North America Market Volume (Tons) Forecast by Country, 2019 to 2034
Table 9: North America Market Value (US$ Million) Forecast by Composition, 2019 to 2034
Table 10: North America Market Volume (Tons) Forecast by Composition, 2019 to 2034
Table 11: North America Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 12: North America Market Volume (Tons) Forecast by Application, 2019 to 2034
Table 13: Latin America Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 14: Latin America Market Volume (Tons) Forecast by Country, 2019 to 2034
Table 15: Latin America Market Value (US$ Million) Forecast by Composition, 2019 to 2034
Table 16: Latin America Market Volume (Tons) Forecast by Composition, 2019 to 2034
Table 17: Latin America Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 18: Latin America Market Volume (Tons) Forecast by Application, 2019 to 2034
Table 19: Europe Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 20: Europe Market Volume (Tons) Forecast by Country, 2019 to 2034
Table 21: Europe Market Value (US$ Million) Forecast by Composition, 2019 to 2034
Table 22: Europe Market Volume (Tons) Forecast by Composition, 2019 to 2034
Table 23: Europe Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 24: Europe Market Volume (Tons) Forecast by Application, 2019 to 2034
Table 25: East Asia Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 26: East Asia Market Volume (Tons) Forecast by Country, 2019 to 2034
Table 27: East Asia Market Value (US$ Million) Forecast by Composition, 2019 to 2034
Table 28: East Asia Market Volume (Tons) Forecast by Composition, 2019 to 2034
Table 29: East Asia Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 30: East Asia Market Volume (Tons) Forecast by Application, 2019 to 2034
Table 31: South Asia Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 32: South Asia Market Volume (Tons) Forecast by Country, 2019 to 2034
Table 33: South Asia Market Value (US$ Million) Forecast by Composition, 2019 to 2034
Table 34: South Asia Market Volume (Tons) Forecast by Composition, 2019 to 2034
Table 35: South Asia Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 36: South Asia Market Volume (Tons) Forecast by Application, 2019 to 2034
Table 37: Oceania Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 38: Oceania Market Volume (Tons) Forecast by Country, 2019 to 2034
Table 39: Oceania Market Value (US$ Million) Forecast by Composition, 2019 to 2034
Table 40: Oceania Market Volume (Tons) Forecast by Composition, 2019 to 2034
Table 41: Oceania Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 42: Oceania Market Volume (Tons) Forecast by Application, 2019 to 2034
Table 43: MEA Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 44: MEA Market Volume (Tons) Forecast by Country, 2019 to 2034
Table 45: MEA Market Value (US$ Million) Forecast by Composition, 2019 to 2034
Table 46: MEA Market Volume (Tons) Forecast by Composition, 2019 to 2034
Table 47: MEA Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 48: MEA Market Volume (Tons) Forecast by Application, 2019 to 2034
Figure 1: Global Market Value (US$ Million) by Composition, 2024 to 2034
Figure 2: Global Market Value (US$ Million) by Application, 2024 to 2034
Figure 3: Global Market Value (US$ Million) by Region, 2024 to 2034
Figure 4: Global Market Value (US$ Million) Analysis by Region, 2019 to 2034
Figure 5: Global Market Volume (Tons) Analysis by Region, 2019 to 2034
Figure 6: Global Market Value Share (%) and BPS Analysis by Region, 2024 to 2034
Figure 7: Global Market Y-o-Y Growth (%) Projections by Region, 2024 to 2034
Figure 8: Global Market Value (US$ Million) Analysis by Composition, 2019 to 2034
Figure 9: Global Market Volume (Tons) Analysis by Composition, 2019 to 2034
Figure 10: Global Market Value Share (%) and BPS Analysis by Composition, 2024 to 2034
Figure 11: Global Market Y-o-Y Growth (%) Projections by Composition, 2024 to 2034
Figure 12: Global Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 13: Global Market Volume (Tons) Analysis by Application, 2019 to 2034
Figure 14: Global Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 15: Global Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 16: Global Market Attractiveness by Composition, 2024 to 2034
Figure 17: Global Market Attractiveness by Application, 2024 to 2034
Figure 18: Global Market Attractiveness by Region, 2024 to 2034
Figure 19: North America Market Value (US$ Million) by Composition, 2024 to 2034
Figure 20: North America Market Value (US$ Million) by Application, 2024 to 2034
Figure 21: North America Market Value (US$ Million) by Country, 2024 to 2034
Figure 22: North America Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 23: North America Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 24: North America Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 25: North America Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 26: North America Market Value (US$ Million) Analysis by Composition, 2019 to 2034
Figure 27: North America Market Volume (Tons) Analysis by Composition, 2019 to 2034
Figure 28: North America Market Value Share (%) and BPS Analysis by Composition, 2024 to 2034
Figure 29: North America Market Y-o-Y Growth (%) Projections by Composition, 2024 to 2034
Figure 30: North America Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 31: North America Market Volume (Tons) Analysis by Application, 2019 to 2034
Figure 32: North America Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 33: North America Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 34: North America Market Attractiveness by Composition, 2024 to 2034
Figure 35: North America Market Attractiveness by Application, 2024 to 2034
Figure 36: North America Market Attractiveness by Country, 2024 to 2034
Figure 37: Latin America Market Value (US$ Million) by Composition, 2024 to 2034
Figure 38: Latin America Market Value (US$ Million) by Application, 2024 to 2034
Figure 39: Latin America Market Value (US$ Million) by Country, 2024 to 2034
Figure 40: Latin America Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 41: Latin America Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 42: Latin America Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 43: Latin America Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 44: Latin America Market Value (US$ Million) Analysis by Composition, 2019 to 2034
Figure 45: Latin America Market Volume (Tons) Analysis by Composition, 2019 to 2034
Figure 46: Latin America Market Value Share (%) and BPS Analysis by Composition, 2024 to 2034
Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Composition, 2024 to 2034
Figure 48: Latin America Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 49: Latin America Market Volume (Tons) Analysis by Application, 2019 to 2034
Figure 50: Latin America Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 51: Latin America Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 52: Latin America Market Attractiveness by Composition, 2024 to 2034
Figure 53: Latin America Market Attractiveness by Application, 2024 to 2034
Figure 54: Latin America Market Attractiveness by Country, 2024 to 2034
Figure 55: Europe Market Value (US$ Million) by Composition, 2024 to 2034
Figure 56: Europe Market Value (US$ Million) by Application, 2024 to 2034
Figure 57: Europe Market Value (US$ Million) by Country, 2024 to 2034
Figure 58: Europe Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 59: Europe Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 60: Europe Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 61: Europe Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 62: Europe Market Value (US$ Million) Analysis by Composition, 2019 to 2034
Figure 63: Europe Market Volume (Tons) Analysis by Composition, 2019 to 2034
Figure 64: Europe Market Value Share (%) and BPS Analysis by Composition, 2024 to 2034
Figure 65: Europe Market Y-o-Y Growth (%) Projections by Composition, 2024 to 2034
Figure 66: Europe Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 67: Europe Market Volume (Tons) Analysis by Application, 2019 to 2034
Figure 68: Europe Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 69: Europe Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 70: Europe Market Attractiveness by Composition, 2024 to 2034
Figure 71: Europe Market Attractiveness by Application, 2024 to 2034
Figure 72: Europe Market Attractiveness by Country, 2024 to 2034
Figure 73: East Asia Market Value (US$ Million) by Composition, 2024 to 2034
Figure 74: East Asia Market Value (US$ Million) by Application, 2024 to 2034
Figure 75: East Asia Market Value (US$ Million) by Country, 2024 to 2034
Figure 76: East Asia Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 77: East Asia Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 78: East Asia Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 79: East Asia Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 80: East Asia Market Value (US$ Million) Analysis by Composition, 2019 to 2034
Figure 81: East Asia Market Volume (Tons) Analysis by Composition, 2019 to 2034
Figure 82: East Asia Market Value Share (%) and BPS Analysis by Composition, 2024 to 2034
Figure 83: East Asia Market Y-o-Y Growth (%) Projections by Composition, 2024 to 2034
Figure 84: East Asia Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 85: East Asia Market Volume (Tons) Analysis by Application, 2019 to 2034
Figure 86: East Asia Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 87: East Asia Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 88: East Asia Market Attractiveness by Composition, 2024 to 2034
Figure 89: East Asia Market Attractiveness by Application, 2024 to 2034
Figure 90: East Asia Market Attractiveness by Country, 2024 to 2034
Figure 91: South Asia Market Value (US$ Million) by Composition, 2024 to 2034
Figure 92: South Asia Market Value (US$ Million) by Application, 2024 to 2034
Figure 93: South Asia Market Value (US$ Million) by Country, 2024 to 2034
Figure 94: South Asia Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 95: South Asia Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 96: South Asia Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 97: South Asia Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 98: South Asia Market Value (US$ Million) Analysis by Composition, 2019 to 2034
Figure 99: South Asia Market Volume (Tons) Analysis by Composition, 2019 to 2034
Figure 100: South Asia Market Value Share (%) and BPS Analysis by Composition, 2024 to 2034
Figure 101: South Asia Market Y-o-Y Growth (%) Projections by Composition, 2024 to 2034
Figure 102: South Asia Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 103: South Asia Market Volume (Tons) Analysis by Application, 2019 to 2034
Figure 104: South Asia Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 105: South Asia Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 106: South Asia Market Attractiveness by Composition, 2024 to 2034
Figure 107: South Asia Market Attractiveness by Application, 2024 to 2034
Figure 108: South Asia Market Attractiveness by Country, 2024 to 2034
Figure 109: Oceania Market Value (US$ Million) by Composition, 2024 to 2034
Figure 110: Oceania Market Value (US$ Million) by Application, 2024 to 2034
Figure 111: Oceania Market Value (US$ Million) by Country, 2024 to 2034
Figure 112: Oceania Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 113: Oceania Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 114: Oceania Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 115: Oceania Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 116: Oceania Market Value (US$ Million) Analysis by Composition, 2019 to 2034
Figure 117: Oceania Market Volume (Tons) Analysis by Composition, 2019 to 2034
Figure 118: Oceania Market Value Share (%) and BPS Analysis by Composition, 2024 to 2034
Figure 119: Oceania Market Y-o-Y Growth (%) Projections by Composition, 2024 to 2034
Figure 120: Oceania Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 121: Oceania Market Volume (Tons) Analysis by Application, 2019 to 2034
Figure 122: Oceania Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 123: Oceania Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 124: Oceania Market Attractiveness by Composition, 2024 to 2034
Figure 125: Oceania Market Attractiveness by Application, 2024 to 2034
Figure 126: Oceania Market Attractiveness by Country, 2024 to 2034
Figure 127: MEA Market Value (US$ Million) by Composition, 2024 to 2034
Figure 128: MEA Market Value (US$ Million) by Application, 2024 to 2034
Figure 129: MEA Market Value (US$ Million) by Country, 2024 to 2034
Figure 130: MEA Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 131: MEA Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 132: MEA Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 133: MEA Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 134: MEA Market Value (US$ Million) Analysis by Composition, 2019 to 2034
Figure 135: MEA Market Volume (Tons) Analysis by Composition, 2019 to 2034
Figure 136: MEA Market Value Share (%) and BPS Analysis by Composition, 2024 to 2034
Figure 137: MEA Market Y-o-Y Growth (%) Projections by Composition, 2024 to 2034
Figure 138: MEA Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 139: MEA Market Volume (Tons) Analysis by Application, 2019 to 2034
Figure 140: MEA Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 141: MEA Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 142: MEA Market Attractiveness by Composition, 2024 to 2034
Figure 143: MEA Market Attractiveness by Application, 2024 to 2034
Figure 144: MEA Market Attractiveness by Country, 2024 to 2034
The UV curable resin and formulated products market is expected to garner a 10.5% CAGR from 2024 to 2034.
By 2024, the global UV curable resin and formulated products market is likely to gain USD 6.2 billion.
By 2034, the UV curable resin and formulated products market valuation is likely to reach a sum of USD 17 billion.
The UV curable resin and formulated products industry in the United States is likely to garner a 10.8% CAGR during the forecast period.
The oligomers is the highly preferred UV curable resin and formulated products composition and is likely to expand with a 10.3% CAGR through 2034.
The UV curable resin and formulated products are likely to be highly used for wood and paper coatings, with an expected 10.1% CAGR through 2034.
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