Global UV cured resins market is estimated to grow at 9.03% of CAGR during the year 2018-2026. The base year considered for the study is 2017 and the forecast period is 2018-2026. Global UV-cured resins market is primarily driven by the following factors:

• Eco-friendly coating are gaining popularity
• Growing demand for UV cured resin in printing
• Improved performance
• Technological innovations
• Rapid industrialization in the Asia Pacific region
• Growing demand from the electronics market

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The important driver increasing the growth in the global UV cured resins market is the growing demand for UV cured resin in printing. For last 40 years, UV curing technology has been in existence in printing, graphic arts and varnishing applications. With the recent developments in terms of flexibility and scalability of UV cured resins, its applications in the printing industry has been increased significantly. UV cured resins have unique properties (e.g., fast curing, instant drying, excellent film properties) that make them suitable for use in offset and screen printing technology. In graphic art applications, UV cured resins are preferred for excellent product resistance, ink stability over substrates and comparatively low cost.

Industrial coatings are majorly used because of their aesthetic looks or protective quality. Among these coatings, protective coating finds the highest applications. The majority of the utilization of industrial coating is from APAC region due to the rising industrialization especially in the emerging economies of India and China. There are different types of industrial coatings present in the market such as water born, paper born, UV cured resins etc. The major end-users of industrial coatings are oil & gas, aerospace, automotive, construction etc.

Application limitation, high cost and unattractive price in the competitive market are the major factors hindering the UV cured resins market. UV cured resins have poor resistance to moisture properties compared to two-part silicon-rubber, one-part/two-part epoxy resin and RTV butyl rubber. Therefore, these moisture-resistant products are preferred over UV cured resins for products exposed to wet weather conditions. For the similar reasons, in the oil field or chemical plants, UV cured resin-based coatings or applications have limited application scopes. UV cured resins are not preferred in the rigid packaging industry due to comparatively poor surface curing properties. Such limitations regarding applications have created growth hindrance for the UV cured resin market.

The global UV cured resins market segments include composition, application and end-user.

Composition are segmented into:

• Photoinitiators
• Monomers
• Oligomers

Application is segmented into:

• Adhesives
• Masking materials
• Inks
• Precoated gaskets
• Others

End-user is segmented into:

• Packaging
• Graphic Arts
• Electronics
• Industrial Coating
• Healthcare
• Others

Geographically, the global UV cured resins market has been segmented on the basis of five major regions which includes:

• North America  – U.S. & Canada
• Asia Pacific – China, India, Japan, Australia, RoAPAC
• Europe – UK, France, Germany, Spain, RoE
• Middle East & Africa
• Latin America

Asia Pacific is the largest market for UV cured resins, consuming more than half of the global demand for UV cured resins and also the fastest growing region after the Middle East and Africa and Latin America. The Asia Pacific is expected to be the most promising market during the forecasted period because of the strong manufacturing industry of coatings, inks and adhesives which are expected to be the major target segments of UV cured resins. Currently, the penetration of UV cured resins is increasing in coatings and inks manufacturing segment at a very high pace around the globe. The key drivers for Asia Pacific region are expected to be the rising demand for green coatings, growing electronics manufacturing and increased use of environment-friendly inks in packaging applications. On the other hand, the Middle East and Africa market is anticipated to be the fastest-growing region due to increasing demand for UV cured resins from various end-user applications such as automotive, construction, furniture, consumer, electrical and electronics, footwear and others. Moreover, growing technological dominance in these industries is increasing the use of UV cured resins as an adhesive.

The UV cured resins market is segmented based on composition which is sub-divided into photoinitiators, monomers, and oligomers. The application market is segmented into adhesives, masking materials, inks, precoated gaskets, and others. The end-users market is segmented into packaging, graphic arts, electronics, industrial coating, healthcare and others.

The major market players in the global UV cured resins market are:

• DSM-AGI CORP
• BASF SE
• HITACHI CHEMICAL COMPANY
• MIWON SPECIALITY CHEMICALS
• ALLENEX BELGIUM SA
• OTHERS

 Key Findings of the global UV cured resins market.

• Growing demand for UV cured resin in printing and technological innovations is fueling the growth of the market globally.
• The Asia Pacific is anticipated to account the largest revenue share in 2017.
• Monomers segment is the dominating market
• Increasing government support
• Product launch is the key strategy adopted by the various market players of global UV cured resins market.
• Industrial coating sector is the major segment of end-user.