In a recent published report, Kenneth Research has updated the market report for UV Curable Resins Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for UV Curable Resins Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
As per the latest report published by Variant Market Research, Global UV Curable Resins Market is estimated to reach $9,311 million by 2024; growing at a CAGR of 10.2% from 2016 to 2024. UV curing is a method of radiation curing, which enables instant curing or drying of various materials including coatings, inks, and adhesives, among others in fraction of seconds when ultraviolet light is applied to cause photopolymerization. They are specially used as industrial materials for sealing, coating, and bonding. UV is also offered for optical molding as it has high energy density, and thus can concentrate on small spot diameters. Moreover, multifunctional resins retained in such formulations can be broadly classified as oligomers and monomers. With improvements in technology, diverse types of UV curable resins are now presented in the market owing to its advantages such as, low temperature treatment, high productivity, saving energy, and reducing wastes.
The growth of global UV curable resins market is driven by factors such as rising adoption in the electronic and industrial coating segment, and increasing demand for green coatings. Besides, high performance of UV curable resins, and environmental alertness and strict rules have also boosted the market growth. However, huge setting-up cost, and requirement of thermally dry delicate substrates may limit the market. Furthermore, rising growth predictions in packaging, 3D printing, digital printing, printed circuits, and barrier films applications is likely to gain significant impetus during the forecast timeframe.
Application, end-use, and geography are the major segments considered in the global UV curable resins market. On the basis of application, the market is bifurcated into coatings, adhesives, inks, and other applications. While by end-use, the market is further categorized into industrial coatings, electronics, graphic arts, and other end-uses.
Based on geography, global UV curable resins market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consists of UK, Germany, Italy, Sweden, Belgium, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, Taiwan and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
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The key players profiled in the market include Miwon Specialty Chemical Co., Ltd., Nippon Synthetic Chemical Industry Co., Ltd., Alberdingk Boley GmbH, BASF SE, Allnex Group, Covestro AG, IGM Resins B.V., SolTech Ltd., Eternal Materials Co., Ltd., and Wanhua Chemical Group Co., Ltd., among others.
The key takeaways from the report:
The report will provide detailed analysis of UV Curable Resins Market with respect to major segments such as application, and end-use
The report will include the qualitative and quantitative analysis with market estimation over 2015 – 2024 and compound annual growth rate (CAGR) between 2016 and 2024
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of UV Curable Resins Market has been included in the report
Profile of the key players in the UV Curable Resins Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global UV Curable Resins Market:
Rest of Europe
Rest of Asia-Pacific
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