According to the latest report published by Variant Market Research, the global UV curable resins market size was valued at $4,292 Million in 2016 and is expected to reach $9,311 Million by 2024. In this report, UV curable resins market forecast says that the global market is growing at 10.2% CAGR from 2016 to 2024.

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The global UV curable resins market is primarily driven by increasing demand for green coatings

Increasing demand for green coatings, high performance of UV curable resins, and rising implementation of these resins in the industrial and electronic coating segment are the major UV curable resins market trends. However, huge setting-up cost may act as the major restraint for the UV curable resins market growth. Further, rising demand from several end-user industries including industrial coatings, graphic arts, and electronics is expected to generate lucrative growth prospects for the market in the forecast timeframe.

Market Segmentation

End-use, application, and geography are the segments of the global UV curable resins market. Segmentation by end-use comprises graphic arts, electronics, industrial coatings, and other end-uses. Furthermore, the application segment includes adhesives, coatings, inks, and other applications.

Geographically, the market has been bifurcated into North America, Europe, Asia-Pacific, and RoW. North America (U.S., Mexico, and Canada), Europe (Russia, Germany, UK, France, and Rest of Europe), Asia-Pacific (Singapore, China, South Korea, Japan, and Rest of Asia-Pacific) and RoW (Middle East, South America, and Africa) are the key geographical regions included in this market.

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Based on end-use, industrial coatings occupied the majority of the UV curable resins market share in 2016

Industrial coatings sub-segment accounted for one third of the end-use segment in the year 2016. The high growth of the sub-segment is driven by their uses for corrosion control of steel & concrete, and protective and functional properties.

Coatings by application accounted for the leading market share in 2016

Coatings dominated for about two third of the application segment in the year 2016 and is expected to continue its trend in the forecast period. Ongoing green trend and increasing applications of coatings worldwide has boosted the growth of the coatings segment.

Asia-Pacific led the global UV curable resins market in 2016

On the basis of geography, Asia-Pacific dominated the global market with highest market share in the year 2017 and is expected to continue its trend during the forecast period. The factors driving the growth of the region include rapid industrialization and rising demand for flexible packaging in economies such as South Korea, Japan, China, and Taiwan

Competitive Landscape

Key players profiled in the report include BASF SE, Alberdingk Boley GmbH, Allnex Group, IGM Resins B.V., Wanhua Chemical Group Co., Ltd., Nippon Synthetic Chemical Industry Co., Ltd., Miwon Specialty Chemical Co., Ltd., Covestro AG, SolTech Ltd., and Eternal Materials Co., Ltd., among others.

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Scope of the Global UV Curable Resins Market

Application Segments

• Coatings
• Inks
• Adhesives
• Other Applications

End-Use Segments

• Industrial Coatings
• Graphic Arts
• Electronics
• Other End-Users

Geographical Segments

• North America
o U.S.
o Canada
o Mexico

• Europe
o UK
o Germany
o Italy
o Sweden
o Belgium
o Rest of Europe

• Asia-Pacific
o India
o China
o Japan
o South Korea
o Taiwan
o Rest of Asia-Pacific

• RoW
o South America
o Middle East
o Africa

About Variant Market Research

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