The UV curable resin and formulated products market had an estimated market share worth US$ 5.5 billion in 2023, and it is predicted to reach a global market valuation of US$ 17 billion by 2034, growing at a CAGR of 10.5% from 2024 to 2034.
Report Attribute | Details |
---|---|
Estimated Market Value in 2023 | US$ 5.5 billion |
Expected Market Value in 2024 | US$ 6.2 billion |
Projected Forecast Value in 2034 | US$ 17 billion |
Anticipated Growth Rate from 2024 to 2034 | 10.5% |
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The global demand for the UV curable resin and formulated products market was estimated to reach a valuation of US$ 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% |
---|---|
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
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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 |
---|---|
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 | US$ 6.2 billion |
Market value in 2034 | US$ 17 billion |
Base Year for Estimation | 2023 |
Historical Data | 2019 to 2023 |
Forecast Period | 2024 to 2034 |
Quantitative Units | US$ billion for value |
Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
Segments Covered |
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Region Covered |
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Countries Profiled |
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Key Companies Profiled |
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Customization Scope | Available on Request |
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 US$ 6.2 billion.
By 2034, the UV curable resin and formulated products market valuation is likely to reach a sum of US$ 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.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 4.1. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis, 2019 to 2023 4.2. Current and Future Market Size Value (US$ Million) & Volume (Tons) Projections, 2024 to 2034 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Composition 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Composition, 2019 to 2023 5.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Composition, 2024 to 2034 5.3.1. Oligomers 5.3.2. Monomers 5.3.3. Photoinitiators 5.3.4. Additives 5.4. Y-o-Y Growth Trend Analysis By Composition, 2019 to 2023 5.5. Absolute $ Opportunity Analysis By Composition, 2024 to 2034 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Application, 2019 to 2023 6.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Application, 2024 to 2034 6.3.1. Wood & Paper Coatings 6.3.2. Plastic Coatings 6.3.3. Metal Coatings 6.3.4. Printing Inks 6.3.5. Adhesives 6.3.6. 3D Printing 6.4. Y-o-Y Growth Trend Analysis By Application, 2019 to 2023 6.5. Absolute $ Opportunity Analysis By Application, 2024 to 2034 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Region, 2019 to 2023 7.3. Current Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Region, 2024 to 2034 7.3.1. North America 7.3.2. Latin America 7.3.3. Europe 7.3.4. East Asia 7.3.5. South Asia 7.3.6. Oceania 7.3.7. MEA 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 8.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023 8.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034 8.2.1. By Country 8.2.1.1. USA 8.2.1.2. Canada 8.2.2. By Composition 8.2.3. By Application 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Composition 8.3.3. By Application 8.4. Key Takeaways 9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023 9.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Argentina 9.2.1.4. Rest of Latin America 9.2.2. By Composition 9.2.3. By Application 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Composition 9.3.3. By Application 9.4. Key Takeaways 10. Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023 10.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. Italy 10.2.1.3. France 10.2.1.4. UK 10.2.1.5. Spain 10.2.1.6. Russia 10.2.1.7. BENELUX 10.2.1.8. Rest of Europe 10.2.2. By Composition 10.2.3. By Application 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Composition 10.3.3. By Application 10.4. Key Takeaways 11. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023 11.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034 11.2.1. By Country 11.2.1.1. China 11.2.1.2. Japan 11.2.1.3. South Korea 11.2.2. By Composition 11.2.3. By Application 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Composition 11.3.3. By Application 11.4. Key Takeaways 12. South Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023 12.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Thailand 12.2.1.3. Malaysia 12.2.1.4. Indonesia 12.2.1.5. Rest of South Asia 12.2.2. By Composition 12.2.3. By Application 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Composition 12.3.3. By Application 12.4. Key Takeaways 13. Oceania Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023 13.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034 13.2.1. By Country 13.2.1.1. Australia 13.2.1.2. New Zealand 13.2.2. By Composition 13.2.3. By Application 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Composition 13.3.3. By Application 13.4. Key Takeaways 14. MEA Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023 14.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034 14.2.1. By Country 14.2.1.1. GCC 14.2.1.2. Rest of MEA 14.2.2. By Composition 14.2.3. By Application 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Composition 14.3.3. By Application 14.4. Key Takeaways 15. Key Countries Market Analysis 15.1. USA 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2023 15.1.2.1. By Composition 15.1.2.2. By Application 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2023 15.2.2.1. By Composition 15.2.2.2. By Application 15.3. Brazil 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2023 15.3.2.1. By Composition 15.3.2.2. By Application 15.4. Mexico 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2023 15.4.2.1. By Composition 15.4.2.2. By Application 15.5. Argentina 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2023 15.5.2.1. By Composition 15.5.2.2. By Application 15.6. Germany 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2023 15.6.2.1. By Composition 15.6.2.2. By Application 15.7. Italy 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2023 15.7.2.1. By Composition 15.7.2.2. By Application 15.8. France 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2023 15.8.2.1. By Composition 15.8.2.2. By Application 15.9. UK 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2023 15.9.2.1. By Composition 15.9.2.2. By Application 15.10. Spain 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2023 15.10.2.1. By Composition 15.10.2.2. By Application 15.11. Russia 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2023 15.11.2.1. By Composition 15.11.2.2. By Application 15.12. BENELUX 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2023 15.12.2.1. By Composition 15.12.2.2. By Application 15.13. China 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2023 15.13.2.1. By Composition 15.13.2.2. By Application 15.14. Japan 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2023 15.14.2.1. By Composition 15.14.2.2. By Application 15.15. South Korea 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2023 15.15.2.1. By Composition 15.15.2.2. By Application 15.16. India 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2023 15.16.2.1. By Composition 15.16.2.2. By Application 15.17. Thailand 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2023 15.17.2.1. By Composition 15.17.2.2. By Application 15.18. Malaysia 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2023 15.18.2.1. By Composition 15.18.2.2. By Application 15.19. Indonesia 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2023 15.19.2.1. By Composition 15.19.2.2. By Application 15.20. Australia 15.20.1. Pricing Analysis 15.20.2. Market Share Analysis, 2023 15.20.2.1. By Composition 15.20.2.2. By Application 15.21. New Zealand 15.21.1. Pricing Analysis 15.21.2. Market Share Analysis, 2023 15.21.2.1. By Composition 15.21.2.2. By Application 15.22. GCC Countries 15.22.1. Pricing Analysis 15.22.2. Market Share Analysis, 2023 15.22.2.1. By Composition 15.22.2.2. By Application 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Composition 16.3.3. By Application 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. IGM Resins 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.1.5.2. Product Strategy 17.1.1.5.3. Channel Strategy 17.1.2. Alberdingk Boley GmbH 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.2.5.2. Product Strategy 17.1.2.5.3. Channel Strategy 17.1.3. Showa Denko Materials Co 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.3.5.2. Product Strategy 17.1.3.5.3. Channel Strategy 17.1.4. Miwok Specialty Chemical Co. Ltd 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.4.5.2. Product Strategy 17.1.4.5.3. Channel Strategy 17.1.5. BASF SE 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.5.5.2. Product Strategy 17.1.5.5.3. Channel Strategy 17.1.6. Wanhua Chemical Group 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.6.5.2. Product Strategy 17.1.6.5.3. Channel Strategy 17.1.7. Covestro AG 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.7.5.2. Product Strategy 17.1.7.5.3. Channel Strategy 17.1.8. Allnex Netherlands B.V 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.8.5.2. Product Strategy 17.1.8.5.3. Channel Strategy 17.1.9. Alberdingk Boley GmbH 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.9.5.2. Product Strategy 17.1.9.5.3. Channel Strategy 17.1.10. Others 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 17.1.10.5.2. Product Strategy 17.1.10.5.3. Channel Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
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