[126 Pages Report] The Waterborne UV Curable Resins Market recorded a market size of USD 122.2 Million in 2015, and is projected to reach USD 230.3 Million by 2020, growing at a CAGR of 13.52% from 2015 to 2020. The waterborne UV curable resins industry is witnessing high growth on account of increasing applications, technological advancements, and growing demand of waterborne UV curable resins in the European and North American regions. Waterborne UV curable resins are largely used in wood coating applications. The rapid growth of the market is driven by environmental concerns and increasingly stringent regulations.

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The presence of volatile organic compounds (VOCs) in a coating's formulation, or during the application and drying processes, is undesirable, due to Hazardous Air Pollutants (HAP) and negative effects on workers. These substances are generally formaldehyde and organic solvents. In recent years, government regulations and environmental concerns have prompted coating formulators and manufacturers to develop environmentally friendly green coating alternatives that perform as well as or better than the conventional solvent-borne systems. Waterborne UV curable resins offer several advantages, including zero VOC, low odor, non-toxicity, non-skin irritation, and safe production process. The U.S., DACH (Deutschland, Austria, and Switzerland) region, and China are some of the major markets for waterborne UV curable resins.

Urethane acrylates account for the largest share in the Waterborne UV Curable Resins Market. Waterborne urethane acrylates (PUDs) are a viable resin choice for coatings for 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.

Wood coatings are expected to continue to represent the bulk of the end-use demand for waterborne UV curable resins, because the waterborne UV technology provides excellent performance, low solvent emissions, and increased production efficiency.

The key players in the global market include Allnex Belgium S/A (Belgium), Alberdingk Boley GmbH (Germany), Royal DSM N.V. (The Netherlands), BASF SE (Germany), Covestro (Formerly Bayer MaterialScience) (Germany), Nippon Gohsei (Japan), Wanhua Chemical Group Co. (China), and Miwon Specialty Chemical Co. Ltd. (Korea).

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