UV Curable Resins Formulated Products Market

• Growing demand for sustainable and eco-friendly products is driving the market growth

Market CAGR for UV curable resins and formulated products market is driven by the rising demand for UV Curable Resins and Eco-Friendly Products in various industries. UV curable resins and formulated products are gaining popularity due to their low VOC emissions, high energy efficiency, and reduced environmental impact. UV-curable coatings and inks can help companies reduce their carbon footprint and meet sustainability goals. The demand for usable and eco-friendly products is expected to increase further, driven by the growing awareness among consumers about the environmental impact of their purchases.

The packaging industry, in particular, is under pressure to reduce its environmental footprint, and using UV-curable coatings and inks can help companies meet their sustainability goals while maintaining the performance properties of their products.

Additionally, the adoption of 3D printing technology is another major trend driving the growth of the UV curable resins and formulated products market. UV curable resins are widely used as printing materials in stereolithography (SLA) and digital light processing (DLP) 3D printing technologies. These resins offer several advantages over traditional 3D printing materials, such as faster curing time, better surface finish, and higher resolution. The demand for UV curable resins for 3D printing applications is expected to increase further, driven by the growing adoption of 3D printing technology across various industries, including healthcare, aerospace, automotive, and consumer goods.

The ability of 3D printing technology to produce complex geometries and customized products with high accuracy and precision is driving its adoption across various industries.

One of the major trends driving the growth of the UV curable resins and formulated products market is the increasing demand from end-use industries. The coatings industry is the largest consumer of UV-curable resins and formulated products, accounting for over 50% of the market share. UV-curable coatings are widely used in various applications, including automotive, industrial, and consumer goods. The growing demand for UV-curable coatings can be attributed to their superior performance properties, such as high gloss, scratch resistance, and chemical resistance.

For instance, the UV curable resins and formulated products market is witnessing significant growth, driven by the increasing demand from end-use industries, rising adoption of 3D printing technology, and growing demand for sustainable and eco-friendly products. Companies operating in this market are concentrating on product innovation and development to cater to the evolving needs of their customers and gain a competitive edge in the market, driving the UV Curable Resins and Formulated Products market revenue.

Technological advancements in UV curing processes significantly influence the Global UV Curable Resins and Formulated Products Market Industry. Innovations such as LED UV curing technology enhance efficiency and reduce energy consumption, making UV curing more accessible across various applications. These advancements enable faster curing times and improved product quality, which are critical for industries like printing and coatings. As companies increasingly adopt these technologies, the market is expected to expand, with projections indicating a growth to 17.9 USD Billion by 2035. This trend suggests that ongoing research and development will continue to play a pivotal role in market evolution.

The Global UV Curable Resins and Formulated Products Market Industry benefits from expanding applications across diverse sectors. Industries such as automotive, electronics, and consumer goods are increasingly utilizing UV curable resins for coatings, adhesives, and inks. This versatility is largely attributed to the superior performance characteristics of UV resins, including rapid curing times and excellent adhesion properties. As these industries continue to innovate and seek high-performance materials, the demand for UV curable products is likely to grow. The anticipated CAGR of 12.17% from 2025 to 2035 underscores the potential for sustained expansion in this market.

The Global UV Curable Resins and Formulated Products Market Industry experiences a notable increase in demand for eco-friendly solutions. As industries strive to reduce their environmental impact, UV curable resins, which emit minimal volatile organic compounds, are becoming increasingly popular. This shift aligns with global sustainability goals and regulatory frameworks aimed at reducing harmful emissions. For instance, the automotive and packaging sectors are adopting these resins to enhance their sustainability profiles. The market is projected to reach 5.06 USD Billion in 2024, indicating a robust growth trajectory driven by this eco-conscious trend.

Regulatory support for sustainable practices is a driving force in the Global UV Curable Resins and Formulated Products Market Industry. Governments worldwide are implementing stringent regulations to promote environmentally friendly materials and processes. This regulatory landscape encourages manufacturers to adopt UV curable resins, which comply with low VOC emissions standards. For example, the European Union's REACH regulations incentivize the use of safer chemical alternatives, thereby boosting the demand for UV curable products. As these regulations evolve, they are likely to further propel market growth, fostering a shift towards more sustainable manufacturing practices.

Increased investment in research and development is shaping the Global UV Curable Resins and Formulated Products Market Industry. Companies are allocating resources to innovate and enhance the performance of UV curable resins, focusing on improving their properties for specific applications. This investment is crucial for developing new formulations that meet the evolving needs of various industries, such as automotive and electronics. As a result, the market is expected to witness significant advancements, contributing to its growth trajectory. The ongoing commitment to R&D indicates a proactive approach to addressing market demands and enhancing product offerings.

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American UV Curable Resins and Formulated Products market area is expected to have significant growth in the market, owing to the rising demand from several industries such as automotive, electronics, and printing. The increasing focus on environmental regulations and sustainable manufacturing processes is also expected to boost regional market growth.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: UV CURABLE RESINS AND FORMULATED PRODUCTS MARKET SHARE BY REGION 2022 (%) Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

Europe's UV Curable Resins and Formulated Products market accounts for the second largest market share in the environmental market. The growth can be calculated to the rising demand from the packaging and automotive industries. The region's stringent regulations regarding VOC emissions are also expected to drive market growth.

Further, the German UV Curable Resins and Formulated Products market held the largest market share and is expected to witness steady growth in the coming years due to the increasing use of UV Curable Resins and Formulated Products in the production of electric vehicles and the UK UV Curable Resins and Formulated Products market was the fastest growing market in the European region.

The Asia-Pacific UV Curable Resins and Formulated Products Market will dominate the UV Curable Resins and Formulated Products market. The growth can be calculated to the rising demand from various end-use industries such as electronics, printing, and automotive. The growing population, urbanization, and increasing disposable income are also expected to drive market growth. Moreover, China’s UV Curable Resins and Formulated Products market held the largest market share, and the Indian UV Curable Resins and Formulated Products market was the fastest-growing market in the Asia-Pacific region.

For instance, the UV curable resins and formulated products market is expected to grow significantly during the forecast period, driven by increasing demand from various industries such as automotive, electronics, printing, and packaging.

Leading market players are investing heavily in research and development to expand their product lines, which will help the UV Curable Resins and Formulated Products market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To monitor and control environmental pollution and natural disasters, UV Curable Resins and Formulated Products industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the UV Curable Resins and Formulated Products industry to benefit clients and increase the market sector. In recent years, the UV Curable resin and Formulated Products industry has offered some of the most significant medical advantages. Major players in the UV Curable Resins and Formulated Products market, including IGM Resins, Alberdingk Boley GmbH, Showa Denko Materials Co., Miwok Specialty Chemical Co.

Ltd., BASF SE, Wanhua Chemical Group Co., Covestro AG, Allnex Netherlands B.V, Alberdingk Boley GmbH, and others, are attempting to increase market demand by investing in research & development operations.

INX International Ink Co., founded in 1896, and located in Osaka, Japan, is a complete line of ink and coating solutions technology for commercial, packaging, and digital applications. It is a leading manufacturer of inkjet inks, providing a full palette of digital ink systems, advanced technologies, and integrated services. In October 2021, INX International Ink Co. introduced INXhrc RC, a high-performance, quality UV-curable ink system infused with renewable, sustainable, and clean ingredients. The UV-curable inks are Nestle-compliant and developed for printing on rigid, non-porous, and foam-based packaging.

Allnex, a leader in energy-curable technology for industrial, graphics, consumer electronics, plastics, and special-purpose coatings and inks, today announced the launch of four high-performance, organo-tin and BPA-free solutions for lithographic, flexographic, screen, and direct or reverse roll UV/EB-curable inks applications.

Anycubic, founded in 2015, and located in Shenzhen, China, is a 3D Printer manufacturer which specializes in the manufacture and international sale of filament and resin printers and 3D printing accessories. In April 2021, Anycubic, a renowned 3D printer manufacturer, launched Wash & Cure Plus, a 3D printing post-processing UV-curable resin washing machine with new and innovative features for 3D printer users. It has been created to give consumers high productivity.

The L-shaped and UV-light bar feature shows high flexibility, enough to guarantee 360 degrees of proper curing, which allow the 3D models to be effectively cured by UV light.Panacol launches its first line of innovative black epoxy resin adhesives that are UV curable in 2024. Vitralit® BL UC 1101, Vitralit® BL UC 1102, and Vitralit® BL UC 1103 are “Black&Light” adhesives that can cure in larger layers with just UV light, doing away with the requirement for a second curing mechanism. The room temperature shipping and storage of the Black&Light adhesives is another significant advantage.

Traditional black, one-component epoxy adhesives need to be kept frozen or delivered cold.The National Institutes of Standards and Technology (NIST), RadTech, and the Photopolymer Additive Manufacturing Alliance (PAMA) together produced an updated guideline for photopolymers in 2023 under the title "Proper Handling of UV Curable 3D Printing Resins." A thorough FAQ section addressing frequently asked questions and issues about using UV-curable 3D printing resins is part of the updated recommendations.

Users will have a better understanding of recommended practices from this part.As stated at the end of 2021, Arkema has enlarged its facilities in Nansha, China, where the Group invested to double the capacity, and in 2023 it will start producing Sartomer® specialty UV/LED curing resins. This will help with the creation of more environmentally friendly solutions for rapidly expanding applications in Asian markets, like cutting-edge electronics and renewable energy solutions powered by 5G technology.