UV Curable Resins and Formulated Products Market Worth 5.70 Billion USD by 2022 - Seite 2

Coatings represent the bulk of the demand for UV curable resins and formulated products. 

In the coatings industry, UV curable coatings technology is one of the fastest-growing segments. This high growth is mainly driven by the 'going green' trend and increasing applications. Asia-Pacific dominates the UV Curable Resins & Formulated Products Market in coatings application due to the rapid industrialization and increasing demand for flexible packaging in countries such as China, Japan, South Korea, and Taiwan. In Europe, the demand for UV curable coatings is fueled by wood coating, plastic coating, and paper coating applications, especially in countries such as Germany, Sweden, and the U.K. In Middle East & Africa and South America, the demand for UV curable coatings is expected to grow at a brisk pace in the next few years. Brazil is expected to show exponential increase in the demand for UV curable coatings due to the increasing demand for industrial coatings in the country.

The Asia-Pacific UV curable resins & formulated products market is projected to register the highest CAGR during the forecast period. 

China, Japan, and South Korea are the largest consumers of UV curable resins and formulated products in Asia-Pacific. Factors such as evolving environmental & regulatory scenario, increasing consumer awareness (including sensitivity to health and safety), and pressure from flagship companies wanting to improve the environmental performance of their supply chain have all led to the increasing demand for UV curable resins and formulated products in the Asia-Pacific region. Asia-Pacific is the largest market for UV curable resins and formulated products, both in terms of volume and value, followed by Europe and North America.

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Key players in the UV curable resins market 

Key players in the global market include Arkema SA (France), Allnex Group (Germany), Toagosei Co. Ltd. (Japan), BASF SE (Germany), Royal DSM N.V. (Netherlands), Covestro AG (Germany), Nippon Gohsei (Japan), Hitachi Chemical Company Ltd. (Japan), IGM Resins B.V. (Netherlands), and Miwon Specialty Chemical Co. Ltd (South Korea).

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