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Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

Ultraviolet (UV) curable resins consist of monomers (acts as a diluents), oligomers, initiators (Photo polymerization initiators & co-initiators), and additives (pigments, plasticizers, antioxidants, & stabilizers). Ultraviolet curable resins are gaining popularity over conventional resins, owing to excellent physical & chemical properties offered by UV curable resins.

Market Dynamics:

  • Increasing environmental concern & stringent government regulations regarding emission of volatile organic compound (VOC) have led resin manufacturers to focus on developing low volatile resins such as UV curable resins. The US Environmental Protection Agency (EPA), Ozone Transport Commission (OTC), California Air Resources Board (CARB), and South Coast Air Quality Management District (SCAQMD) have set restrictive limits on the Volatile Organic Compound (VOC) content in architectural and industrial maintenance coatings. According to EPA, limit for exterior coatings has been set as 250 grams of VOC per Liter. Such factors are fueling growth of global Ultraviolet (UV) curable resins market.
  • However, technical limitation of UV curing technology such as oxygen inhibition and initial yellowing are some of the key challenges for market growth.

Global Ultraviolet (UV) Curable Resins Market Outlook:

  • Among application, coating segment dominated global ultraviolet (UV) curable resins market in 2017. In coating, UV curable resins offers multiple advantages such as less or no VOC emission, high speed curing at low temperature, heat & moisture resistance, less energy consumption, reduced waste. Such factors are boosting demand for ultraviolet (UV) curable resins in metal, plastic, and wood coating applications.
  • Asia Pacific is projected to be the fastest growing region in global ultraviolet (UV) curable resins market over the forecast period (2018-26). Favorable growth of end use industries of UV curable resins such as paint & coatings and adhesives in China and India is fueling growth of the market. According to Coherent Market Insights analysis, paint & coatings market in Asia Pacific is projected to reach US$ 103.54 billion by end of 2025.

Key players:

  • Key players operating in global ultraviolet (UV) curable resins market include BASF SE, Hitachi Chemical Co., Ltd, Allnex Group, Arkema Group, Royal DSM N.V., The Nippon Synthetic Chemical Industry Co., Ltd., Covestro AG, IGM Resins B.V., Miwon Specialty Co. Ltd., and Jiangsu Sanmu Group Corporation.

Global Ultraviolet (UV) Curable Resins Market Taxonomy:

On the basis of composition, the global ultraviolet (UV) curable resins market is segmented into:

  • Monomer
  • Oligomer
  • Photo-initiator
  • Others

On the basis of application, the global ultraviolet (UV) curable resins market is segmented into:

  • Coatings
  • Graphic Arts (3D Printing Inks, Overprint Varnish)
  • Industrial (Adhesives, Packaging, Optical)
  • Others

On the basis of region, the global ultraviolet (UV) curable resins market is segmented into:

  • North America
    • U.S.
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • U.K.
    • Germany
    • Italy
    • France
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ASEAN
    • Australia
    • Rest of Asia Pacific
  • Middle East
    • GCC
    • Rest of Middle East
  • Africa

Global Ultraviolet (UV) Curable Resins Market Key Development:

  • In July 2018, Arkema launched a new U.V. curable resin for 3D printing application named N3D I-2105, N3D F-2115, and N3D P-2125 under the N3xtDimension line. These resins are designed to meet key requirements for end-use applications such as impact resistance, flexibility, resolution etc.
  • In June 2019, Azelis extended distribution agreement with BASF SE for dispersions, resins & additives in Turkey. With this agreement, Azelis is expected to become largest distributor of chemicals for CASE applications in Turkey. 
  • In April 2019, DSM-AGI started production of UV curable resins in Changbin, Taiwan. The new facility meet the requirements for global safety and quality standards. 
  • In March 2019, IGM Resins established a new product development lab in North Carolina, U.S. This new facility is dedicated to produce new monomers & oligomers for UV inks & coatings market. Also, this facility expanded IGM’s capacity to scale up, commercialization & technical services to its customers.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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