UV cured resins are used in various end-user industries such as packaging, electronics, building & construction and automotive among others. Packaging industry is reported to have significant impact on the UV cured resins market. UV cured resins are majorly used for label printing in the packaging industry. North America dominated the market for UV cured resins inks market due to high demand from the packaging sector in the region. High consumption of packaged food and beverage is the major factor driving the market of UV cures resins market in the region. Therefore, increasing demand for UV curable inks is expected to dominate the global UV cured resins market in 2014 and is expected to increase in the near future. Moreover, shift towards eco-friendly resins is another factor contributing to the growth of global UV cured resins globally. Stringent government regulations regarding volatile organic compounds emission have boosted demand for eco-friendly resins. VOC are organic chemicals which have high vapor pressure and can lead to severe health problems. Hence, these factors have promoted the growth of UV cured resins worldwide.
Industrial coatings market dominated the global UV cured resins market in 2014. Industrial coatings consist of mainly paints and coating which are used majorly in the industries for protective quality. Asia Pacific is the major region contributing to the growth of UV cured resins market for industrial coatings. Automotive, Oil & Gas and Constructions are the major industries boosting demand for UV cured resins in the market. Electronics market is another end-use industry which is expected to boost market growth of global UV cured resins worldwide. UV cured resins are used in the electronic industry as adhesive or masking material. It is used in manufacture of mobile phones, laptops, etc. Therefore, electronic industry is anticipated to boost high demand for global UV cured resins market in the near future. Other end-user industries such as graphic arts and healthcare are also projected to fuel demand for global UV cured resins in the market, especially in China and India.
UV cured resins market was valued at US$ 2900 Mn in 2014 and is expected to reach US$ 5650.0 Mn by 2023, growing at a CAGR of 9.0% during the forecast period 2015-2023.
Purpose of the Report
The purpose of this strategic research study titled “Global UV Cured Resins Market - Growth, Share, Opportunities, and Competitive Analysis, 2014 – 2021” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them make informed strategic decisions regarding the opportunities in the global UV cured resins market.
Target Audience
USP and Key Offerings
The report titled “Global UV Cured Resins Market - Growth, Share, Opportunities, and Competitive Analysis, 2014 – 2021” offers strategic insights into the global UV cured resins market along with the market size and estimates for the duration 2014 to 2021. The said research study covers in-depth analysis of multiple market segments based on types of services, types of waste, types of treatment, types of treatment sites and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading hazardous waste material management vendors, their expansion strategies, market positioning, and latest developments. Other in-depth analyses provided in the report include:
Overall, the research study provides a holistic view of the global UV cured resins market, of growth, offering market size and estimates for the period from 2014 to 2021, keeping in mind the above mentioned factors.
Compositions Segmentation Analysis
Monomers dominated the global UV cured resins market in 2014. It accounted for more than 44% share of global UV cured resins market. The second largest UV cured resins by composition was Oligomers. It accounted for more than 28% share of global UV cured resins market in 2014. Oligomers is a complex which consists of few monomer units. Oligomerisation is a process which converts monomers into complex macromolecular substances. The reactivity and viscosity of Oligomers can be affected by specialized process. These Oligomers are used on a large scale in the manufacture of optical fibers. Hence, high demand from this segment is expected to fuel growth of global UV cured resins market. Photoinitiator accounted as the third largest segment of global UV cured resins market in 2014. Photoinitiator is a compound that undergoes photoreaction on absorption of light and produces certain types of reactive species. Photoinitiator is a compound which transforms physical light into chemical energy reactive intermediates forms. They are differentiated into two types namely, radical photoinitiators and cationic photoinitiators. Rising applications in the industries such as coatings industries, automotive and medical are the factors contributing for demand of photoinitiators in the market. The major factor leading to growth of photoinitiators is the commercialization of UV cured adhesives.
UV cured resins based on the mode of applications is segmented into a number of applications among which UV cured resins inks market dominated the global UV cured resins market in 2014. Technological advancements in the printing technology are the major reason driving demand for UV cured resins inks in the market. Growing 3D printing market is another factor contributing to high demand for UV cured resin inks in the market. UV cured resins accounted for more than 36% share of global UV cured resins market in 2014 and is expected to rise during the forecast period. The second largest application segment was UV cured resins adhesives market which accounted for more than 20% share of global UV cures resins market in 2014. UV cured resins adhesives harden when exposed to UV light with predefined wavelength and intensity. These adhesives are used on a large scale in industries such as building & construction, packaging, product assembly etc. Rising amount of building & construction industries in the emerging economies have led to high demand for UV cured resins adhesives worldwide. Masking material accounted as the third largest application segment of UV cured resin market and is expected to boost market demand for UV cured resins market in the near future. Pre- coated gaskets and other applications are also anticipated to fuel growth of global UV cured resins market during the forecast period from 2015 to 2023.
Industrial coatings market dominated the global UV cures resins market with more than 38% share in 2014. The large number of benefits provided by UV cured resins such as eco friendly nature non emission of VOC and excellent cost cutting features due to high curability speed has led to high demand for UV cured resins in the industrial coatings market. Other features such as applicable for both flexible and rigid media and high bond strength have added to the demand for UV cured resins in the industrial coatings market. Packaging accounted as the second largest end-user segment of global UV cured resins market in 2014. Packaging is anticipated to grow at a CAGR more than 4.5% during the forecast period from 2015 to 2023. In terms of demand for UV cured resins for packaging industry, North America is anticipated to be the market leader for UV cured resins market. Graphic art covers a large range of virtual artistic expression. Rising demand for 3D printing market is expected to fuel market growth of UV cured resins worldwide. Other end-user industries such as healthcare, electronics and others are also projected to boost market growth of UV cured resins during the forecast region from 2016 to 2023.
Asia Pacific accounted for the largest share of global UV cured resins market in 2014. It is consuming almost half of the demand of global UV cured resins market. Manufacturing industries of coating, inks and adhesives in the region is driving the growth of global UV cured resins market in the region. Growing demand for green coatings and electronics manufacturing is expected to boost major demand for UV cured resins in the market. Increasing use of environment friendly inks in the packaging industry is also expected to contribute to the growth of UV cured resins market in the region. North America accounted to be the second largest market for UV cured resins worldwide. Increasing demand for UV cured resins from end-user industries such as automotive, electronics and packaging has led to growth of global UV cured resins market in the region. U.S. accounted for larger share for UV cured resins among the others countries in the region. Increase in the use of electronic circuits in the care is another factor contributing to the demand for UV cured resins in the country. Europe is anticipated to contribute to the growth of global UV cured resins market due to high demand for curable inks and adhesives. Other regions such as Middle East & Africa and Latin America are also expected to boost market demand for UV cured resins during the forecast period from 2015 to 2023.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of UV Cured Resins market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Mode of application
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End users
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Compositions
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
