The global UV curable resins & formulated products market size is estimated to be USD 4.5 billion in 2021 and is projected to reach USD 7.2 billion by 2026, at a CAGR of 9% during the forecast period. The growth of the market can be attributed to the need to mitigate volatile organic compounds (VOC) emissions and to comply with stringent regulations and progressively tightening of VOC regulations on a global scale. However, the need to thermally dry sensitive substrates and high setting-up cost of the UV coatings plant restrict the use of UV curable resins & formulated products in the wood coatings application.
Browse 125 market data Tables and 50 Figures spread through 198 Pages and in-depth TOC on “UV Curable Resins & Formulated Products Market by Composition (Oligomers, Monomers, Photoinitiators, & Additives), Chemistry (Non-Acrylates & Oligoamines, & Acrylates Oligomers), Application, Technology, and Region – Global Forecasts To 2025”
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Urethane acrylates are projected to witness the highest growth in the UV curable resins & formulated products market for oligomer. Urethane acrylates (PUDs) are a viable resin choice for coatings in several end-use markets, including wood floors, kitchen cabinets, and furniture. They offer high-end performance with minimal process issues and nearly zero emission of VOCs. Dispersion of urethane acrylates (UV-PUDs), combined with physical drying acrylic dispersions, are being widely used in the European furniture coatings industry. These are also gaining momentum in the North America market.
APAC is the fastest-growing region in the UV curable resins & formulated products market. This high growth can be attributed to the increase in demand from emerging economies such as China, Vietnam, South Korea, Malaysia, and Indonesia. Some of the major UV curable resins manufacturers in the APAC region include Daosheng (China), Changlian (China), Kotian (China), Miwon (South Korea), Ruishi (UV Chem) (China), Nippon Gohsei (Japan), and Wanhua (China).
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