UV curable resins are those resins that involve less harmful emissions, fast cure (high productivity), less energy consumption, less equipment space, low temperature treatment, and waste reduction. UV curable resins do not contain any organic solvents that harm the environment. These resins include monomers, oligomers, co-initiators, photo-polymerization, and various additives such as antioxidants, stabilizers, pigments, and plasticizers. UV curable resins are used in a wide range of applications in the ink and coating and adhesive industries. UV curable resins are the most preferred option for applications with fast-curing and fast-drying requirements.
Low cost equipment associated with the manufacturing of UV curing resins along with technological development have helped drive growth of the market for UV curable resins and formulated products. Increasing demand for odor-free, safe, sustainable, and green materials has increased the demand for UV curing resins thus, boosting market growth. These resins offer benefits such as high productivity, cost effectiveness, durability, and low maintenance, which in turn, drives growth of the market for UV curable resins and formulated products. However, fluctuation in costs associated with its raw materials, high costs associated with R&D activities and initial investments of manufacturers pose as major restraints for growth of the market. Moreover, high conventional heat or infrared radiation involved in the UV curing process causes major complications in these products.
UV Curable Resins & Formulated Product Market Taxonomy
On the basis of composition, the UV curable resins & formulated products is segmented into:
On the basis of chemistry, the UV curable resins & formulated products is segmented into:
On the basis of technology, the UV curable resins & formulated products is segmented into:
On the basis of application, the UV curable resins & formulated products is segmented into:
UV Curable Resins & Formulated Products Market Outlook
In August 2016, Mitsubishi Chemical Corporation (MCC) of Japan, acquired The Nippon Synthetic Chemical Industry Co. MMC also merged with Mitsubishi Rayon and Mitsubishi Plastic. Mitsubishi Rayon is a major supplier of acrylic resins, impact modifiers, and carbon fibers. Mitsubishi Plastic is a leading player in the agricultural film and plastic packaging industry, while Nippon is a leading player in water soluble film of PVOH for agricultural, medicines and chemicals.
Key player in UV Curable Resins & Formulated Products
Some of the key player in UV Curable Resins & Formulated Products Market are Allnex Group (Germany), Arkema Group (France), Royal DSM (Netherlands), Nippon Gohsei (Japan), Covestro AG (Germany), IGM Resins B.V. (Netherlands), Hitachi Chemical Company Ltd., Toagosei Co. Ltd. (Japan), Miwon Specialty Chem Co. Limited (South Korea), Double Bond Chemical Ind. Co. Ltd., Jiangsu Sanmu Group Corporation, and BASF SE (Germany).
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