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.

Top Key Players in UV Curable Resins & Formulated Products  market: 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-LAWSUIT-95e84a04-e252-4d6e-a752-385822505523>BASF SE (Germany).

Regional Analysis For UV Curable Resins & Formulated Products  Market:

Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the UV Curable Resins & Formulated Products market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.

Asia Pacific is the largest market for UV curable resins, both in terms of value and volume of the product than any other region across the globe. China, Japan, and India are countries possessing the largest consumer-demand for UV curable resins and products. Increasing demand for flexible packaging and rapid industrialization in these countries has led to the growing demand for UV curable resins and formulated products.

UV Curable Resins & Formulated Products Market Outlook

• The market in Europe is rapidly growing due to the increasing demand for plastic coatings, paper coatings, and wood coatings. Germany, U.K., and Sweden are countries experiencing lucrative growth of the UV curable resins and formulated market. Stringent government regulations imposed on the use of conventional methods that harm the environment, is a major restraining factor hampering market growth in the region.
• North America is the leading market for UV curable resins and formulated products. The U.S., Canada, and Mexico are countries holding the largest market for automobile and electronics products, thereby increasing the demand for UV curable resins and formulated products. The market in has witnessed significant growth due to high purchasing power and technological advancements in the region. The U.S. accounts for around 80% of the market share in in North America.

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