UV Cured Resins Market

Market Insights:

UV cured resins are used in various end-user industries such as packaging, electronics, building & construction, and automotive, among others. The packaging industry is reported to significantly impact the UV-cured resin market. UV-cured resins are majorly used for label printing in the packaging industry. North America dominated the UV cured resin inks market due to high demand from the packaging sector in the region. High consumption of packaged food and beverage is the major factor driving the market of UV cures resins in the region. Therefore, increasing demand for UV curable inks is expected to dominate the global UV cured resins market in 2014 and is expected to increase shortly.

Moreover, the shift toward eco-friendly resins is another factor contributing to the growth of global UV-cured resins globally. Stringent government regulations regarding volatile organic compounds emission have boosted demand for eco-friendly resins. VOC are organic chemicals that have high vapor pressure and can lead to severe health problems. Hence, these factors have promoted the growth of UV-cured resins worldwide.

The industrial coatings market dominated the global UV cured resins market in 2014. Industrial coatings consist mainly of paints and coating, which are used majorly in industries for protective quality. Asia Pacific is the major region contributing to the growth of the UV cured resins market for industrial coatings. Automotive, Oil & Gas, and Constructions are the major industries boosting demand for UV cured resins in the market. The electronics market is another end-use industry expected to boost the market growth of global UV cured resins worldwide. UV-cured resins are used in the electronic industry as an adhesive or masking material. In addition, it is used to manufacture mobile phones, laptops, etc. Therefore, the electronic industry is anticipated to boost high demand for the global UV cured resins market shortly. Other end-user industries such as graphic arts and healthcare are also projected to fuel demand for global UV cured resins in the market, especially in China and India.

The UV cured resins market was valued at US$ 2900 Mn in 2014 and is expected to reach US$ 5650.0 Mn by 2022, growing at a CAGR of 9.0% during the forecast period 2015-2022.

Purpose of the Report

The purpose of this strategic research study titled “Global UV Cured Resins Market – Growth, Share, Opportunities, and Competitive Analysis, 2014 – 2021” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them to make informed strategic decisions regarding the opportunities in the global UV cured resins market.

Target Audience

• Industry Investors
• Research Professionals
• Emerging Companies
• Raw Material Suppliers/ Buyers
• Product Suppliers/ Buyers
• Research Institutes

Based on compositions, the UV cured resins market is categorized into the following segments:

• Photoinitiator
• Monomers
• Oligomers

Monomers dominated the global UV cured resins market in 2014. It accounted for more than 44% of the global UV cured resins market. The second largest UV-cured resins by composition were Oligomers. It accounted for over 28% of the global UV cured resins market in 2014. Oligomers are a complex which consists of a few monomer units. Oligomerization is a process that converts monomers into complex macromolecular substances. The reactivity and viscosity of Oligomers can be affected by specialized processes. These Oligomers are used on a large scale to manufacture optical fibers. Hence, high demand from this segment is expected to fuel the growth of the global UV cured resins market.

Photoinitiator accounted for the third largest segment of the global UV cured resins market in 2014. Photoinitiator is a compound that undergoes photoreaction on light absorption and produces certain types of reactive species. Photoinitiator is a compound that transforms physical light into chemical energy reactive intermediates forms. They are differentiated into two types: radical photoinitiators and cationic photoinitiators. Rising applications in the industries such as coatings, automotive, and medical are contributing to the demand for photoinitiators in the market. The major factor leading to the growth of photoinitiators is the commercialization of UV-cured adhesives.

Based on mode of application, the UV cured resins market is categorized into the following segments:

• Masking Materials
• UV Cured Resins Inks Market
• Pre-Coated Gaskets Market
• UV Cured Resins Adhesives Market
• Others

Based on the mode of applications, UV cured resins are segmented into a number of applications, among which the UV cured resins inks market dominated the global UV cured resins market in 2014. Technological advancements in printing technology are the major reason driving demand for UV cured resins inks in the market. The growing 3D printing market contributes to the high demand for UV-cured resin inks. UV cured resins accounted for more than 36% share of the global UV cured resins market in 2014 and is expected to rise during the forecast period. The second largest application segment was UV cured resins adhesives market, which accounted for more than 20% of the global UV cures resins market in 2014. UV cured resins adhesives harden when exposed to UV light with predefined wavelength and intensity.

These adhesives are used on a large scale in industries such as building & construction, packaging, product assembly, etc. A rising amount of building & construction industries in the emerging economies has led to high demand for UV-cured resin adhesives worldwide. Masking material accounted for the third largest application segment of the UV cured resin market and is expected to boost market demand for the UV cured resins market shortly. Pre-coated gaskets and other applications are also anticipated to fuel the growth of the global UV cured resins market during the forecast period from 2015 to 2022.

Based on applications, the UV cured resins market is categorized into the following end-user segments:

• Packaging Market
• Graphic Arts Market
• Industrial Coatings Market
• Healthcare Market
• Electronics Market
• Others

The industrial coatings market dominated the global UV cures resins market with more than 38% share in 2014. The numerous benefits provided by UV-cured resins, such as eco-friendly nature, non-emission of VOC, and excellent cost-cutting features due to high curability speed, has led to high demand for UV-cured resins in the industrial coatings market. Other features, such as being applicable for both flexible and rigid media and high bond strength, have added to the demand for UV-cured resins in the industrial coatings market. Packaging accounted for the second largest end-user segment of the global UV cured resins market in 2014.

Packaging is anticipated to grow at a CAGR of more than 4.5% during the forecast period from 2015 to 2022. In terms of demand for UV cured resins for the packaging industry, North America is anticipated to be the market leader in the UV cured resins market. Graphic art covers a large range of virtual artistic expression. Rising demand for the 3D printing market is expected to fuel market growth of UV cured resins worldwide. Other end-user industries, such as healthcare, electronics, and others, are also projected to boost the market growth of UV-cured resins during the forecast region from 2016 to 2022.

On the basis of geography, the global UV cured resin market is segmented into the following categories:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • Italy
  • U.K.
  • Russia
  • Rest of Europe
• Asia-Pacific
  • India
  • China
  • Japan
  • Rest of Asia-Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

It is consuming almost half of the demand of the global UV cured resins market. Manufacturing industries of coating, inks, and adhesives in the region are driving the growth of the global UV cured resins market in the region. Growing demand for green coatings and electronics manufacturing is expected to boost major demand for UV cured resins in the market.

Increasing use of environment-friendly inks in the packaging industry is also expected to contribute to the growth of the UV-cured resins market in the region. North America accounted to be the second largest market for UV cured resins worldwide. Increasing demand for UV cured resins from end-user industries such as automotive, electronics, and packaging has led to the growth of the global UV cured resins market in the region. U.S. accounted for a larger share of UV cured resins than the other countries in the region.

An increase in the use of electronic circuits in care is another factor contributing to the demand for UV-cured resins in the country. Europe is anticipated to contribute to the growth of the global UV cured resins market due to the high demand for curable inks and adhesives. Other regions such as the Middle East & Africa and Latin America are also expected to boost market demand for UV cured resins during the forecast period from 2015 to 2022.

CHAP 1. EXECUTIVE SUMMARY 13
1.1. UV-CURED RESINS: TECHNOLOGIES AND GLOBAL MARKETS SUMMARY & KEY BUYING CRITERIA13
1.2. UV-CURED RESINS: TECHNOLOGIES AND GLOBAL MARKETS OUTLOOK 17
1.2.1. MARKET SEGMENTATION ANALYSIS 18
1.2.1.1. BY MODE OF APPLICATIONS 18
1.2.1.2. BY END USE 19
1.3. UV-CURED RESINS: TECHNOLOGIES AND GLOBAL MARKETS VALUE CHAIN ANALYSIS 20
1.3.1. MANUFACTURERS 20
1.3.2. SUPPLIERS 22
1.3.3. END USERS 22
1.3.4. APPLICATIONS 23

CHAP 2. UV-CURED RESINS: TECHNOLOGIES AND GLOBAL MARKETS 26
2.1. MARKET DRIVER ANALYSIS 26
2.1.1. GROWING DEMAND FROM ELECTRONICS MARKET 26
2.1.2. INCREASING DEMAND FOR UV CURABLE INKS 28
2.1.3. STRINGENT GOVERNMENT REGULATIONS 29
2.1.4. TECHNOLOGICAL INNOVATIONS 30
2.1.5. RAPID INDUSTRIALIZATION IN ASIA PACIFIC 30
2.1.6. ECO-FRIENDLY COATINGS ARE GAINING POPULARITY 31
2.2. MARKET RESTRAINT ANALYSIS 31
2.2.1. COST 31
2.2.2. APPLICATION LIMITATIONS 32
2.2.3. UNATTRACTIVE PRICE IN A COMPETITIVE MARKETS 32
2.3. OPPORTUNITIES 32
2.3.1. 3D PRINTING MATERIAL MARKET 32
2.3.2. DEVELOPMENTS IN THE FIELD OF EPOXY AND POLYESTER ACRYLATES 33
2.3.3. DEVELOPING ECONOMIES: AN EMERGING MARKET OPPORTUNITY 34
2.4. CHALLENGES35
2.4.1. LOW EXPORT DEMAND AND FLUCTUATING CRUDE OIL PRICE 35
2.4.2. ADVERSE HEALTH EFFECTS ASSOCIATED WITH UV RADIATION EXPOSURE 35
2.4.3. DECLINING INDUSTRIALIZATION IN EUROPE 36

CHAP 3. UV-CURED RESINS: TECHNOLOGIES AND GLOBAL MARKETS BY MODE OF APPLICATION 38
3.1. MASKING MATERIALS 38
3.2. UV-CURED RESINS INKS MARKET 44
3.3. PRE-COATED GASKETS MARKET48
3.4. UV CURED RESINS ADHESIVES MARKET 50

CHAP 4. MARKET SEGMENTATION BY END USERS 53
4.1. GLOBAL UV-CURED RESINS: PACKAGING MARKET 2012-2022 ($ BILLION) 53
4.2. GLOBAL UV-CURED RESINS: GRAPHIC ARTS MARKET 2012-2022 ($ BILLION) 56
4.3. GLOBAL UV-CURED RESINS: INDUSTRIAL COATING MARKET 2012-2022 ($ BILLION)57
4.4. GLOBAL UV-CURED RESINS: HEALTHCARE MARKET 2012-2022 ($ BILLION) 59
4.5. GLOBAL UV-CURED RESINS: ELECTRONICS MARKET 2012-2022 ($ BILLION) 61
4.6. OTHERS 64

CHAP 5. MARKET SEGMENTATION BY COMPOSITIONS66
5.1. GLOBAL UV-CURED RESINS: PHOTOINITIATORS MARKET 2012-2022 ($ BILLION) 66
5.2. GLOBAL UV-CURED RESINS: OLIGOMERS MARKET 2012-2022 ($ MILLION) 68
5.3. GLOBAL UV-CURED RESINS:MONOMERS MARKET 2012-2022 ($ MILLION) 69

CHAP 6. UV-CURED RESINS: TECHNOLOGIES AND GLOBAL MARKETS, REGIONAL OUTLOOK 2012-2022 ($ BILLION) 71
6.1. NORTH AMERICA 71
6.1.1. US71
6.1.2. CANADA 76
6.2. EUROPE 77
6.3. ASIA PACIFIC81
6.3.1. ASIA PACIFIC MARKET ESTIMATES AND FORECAST 2012-2022 82
6.3.2. ASIA PACIFIC MARKET ESTIMATES AND FORECAST BY APPLICATION 82
6.3.2.1. INDIA 84
6.3.2.1.1. INDIA MARKET ESTIMATES AND FORECAST 2012-2022 84
6.3.2.1.2. INDIA MARKET ESTIMATES AND FORECAST BY APPLICATION 85
6.3.2.2. AUSTRALIA 86
6.3.2.2.1. AUSTRALIA MARKET ESTIMATES AND FORECAST 2012-2022 ($ BILLION) 86
6.3.2.3. CHINA 87
6.3.2.3.1. CHINA MARKET ESTIMATES AND FORECAST 2012-2022 ($ BILLION) 87
6.3.2.3.2. CHINA MARKET ESTIMATES AND FORECAST BY APPLICATION 2012-2022 ($ BILLION) 89
6.3.2.4. JAPAN 90
6.3.2.4.1. JAPAN MARKET ESTIMATES AND FORECAST 2012-2022 ($ BILLION) 90
6.4. MIDDLE EAST & AFRICA 91
6.5. LATIN AMERICA 94

CHAP 7. COMPETITIVE LANDSCAPE 97
7.1. BASF SE 97
7.1.1. OVERVIEW 97
7.1.2. BASFSE PRODUCTS PORTFOLIO 98
7.1.3. STRATEGIC MOVES 98
7.1.4. SCOT ANALYSIS99
7.2. ALLNEX BELGIUM SA 100
7.2.1. OVERVIEW 100
7.2.2. ALLNEX PRODUCTS PORTFOLIO 101
7.2.3. STRATEGIC MOVES 101
7.2.4. SCOT ANALYSIS 101
7.3. DSM-AGI CORP 103
7.3.1. OVERVIEW 103
7.3.2. DSM-AGI CORP PRODUCTS PORTFOLIO 103
7.3.3. SCOT ANALYSIS 104
7.4. DYMAX CORP 105
7.4.1. OVERVIEW 105
7.4.2.DYMAX CORP PRODUCTS PORTFOLIO 106
7.4.3. SCOT ANALYSIS 106
7.5. ETERNAL MATERIALS CO. LTD. 108
7.5.1. OVERVIEW 108
7.5.2. ETERNAL MATERIALS CO. LTD. PRODUCTS PORTFOLIO 109
7.5.3. SCOT ANALYSIS 109
7.6. HITACHI CHEMICAL CO LTD 111
7.6.1. OVERVIEW 111
7.6.2. SCOT ANALYSIS 112
7.7. IGM RESINS B.V 113
7.7.1. OVERVIEW 113
7.7.2. IGM RESINS B.V PRODUCTS PORTFOLIO 114
7.7.3. SCOT ANALYSIS 114
7.8. JIANGSU LITIAN TECHNOLOGY CO. LTD 116
7.8.1. OVERVIEW 116
7.8.2. JIANGSU LITIAN TECHNOLOGY CO. LTD PRODUCTS PORTFOLIO: 116
7.8.3. SCOT ANALYSIS 117
7.9. JIANGSU SANMU GROUP CORPORATION 118
7.9.1. OVERVIEW 118
7.9.2. JIANGSU SANMU GROUP CORPORATION PRODUCTS PORTFOLIO 119
7.9.3. SCOT ANALYSIS 119
7.10. MIWON SPECIALTY CHEMICALS CO. LTD. 120
7.10.1. OVERVIEW 120
7.10.2. MIWON SPECIALTY CHEMICALS CO. LTD PRODUCTS PORTFOLIO: 120
7.10.3. SCOT ANALYSIS 121
7.11. SARTOMER USA LLC 122
7.11.1. OVERVIEW 122
7.11.2. SARTOMER USA LLC PRODUCTS PORTFOLIO SCOT ANALYSIS 122
7.11.3. SCOT ANALYSIS 123

List of Figures

FIGURE 1 GLOBAL UV CURED RESIN MARKET 2014-2021 ($ MILLION) 14
FIGURE 2 UV CURED RESINS HAVE MULTIPLE APPLICATIONS 16
FIGURE 3 GLOBAL UV CURED RESIN MARKET BY END USE IN 2014 20
FIGURE 4 UV CURED RESINS MARKET SHARE BY INDUSTRY 23
FIGURE 5 BRIC CONSUMER’S EXPENDITURE ON CONSUMER ELECTRONICS IN 2013 27
FIGURE 6 WORLD EXPORTS OF ELECTRONICS GOODS ($ BILLION AT CURRENT PRICES AND CURRENT EXCHANGE RATES) 28
FIGURE 7 INDUSTRIAL GROSS VALUE ADDED IN THE EU BY INDIVIDUAL COUNTRIES IN 2012.37
FIGURE 8 UV-CURED RESINS: TECHNOLOGIES AND GLOBAL MARKETS BY MODE OF APPLICATION 2012-2022 ($ BILLION) 38
FIGURE 9 GLOBAL UV-CURED RESINS: MASKING MATERIAL MARKET 2012-2022 ($ BILLION) 40
FIGURE 10 UV CURABLE MASKING RESINS PERCENTAGE DISTRIBUTION 2015 41
FIGURE 11 AVERAGE DAILY NEWSPAPER CIRCULATION COMPARISON BETWEEN INDIA, CHINA AND ROW, 2021 44
FIGURE 12 GLOBAL UV-CURED RESINS: INKS MARKET 2012-2022 ($ BILLION) 45
FIGURE 13 TYPES OF UV-CURABLE INKS 46
FIGURE 14 WORLD DEMAND FOR ADHESIVES 2015 50
FIGURE 15 GLOBAL UV-CURED RESINS: ADHESIVES MARKET 2012-2022 51
FIGURE 16 GLOBAL PACKAGING SALES, 2018 54
FIGURE 17 GLOBAL 3D PRINTING INDUSTRY FORECAST 2014-2020 ($ BILLION) 56
FIGURE 18 GLOBAL UV-CURED RESINS: GRAPHIC ARTS MARKET 2012-2022 ($ BILLION)57
FIGURE 19 GLOBAL UV-CURED RESINS: INDUSTRIAL COATING MARKET 2012-2022 ($ BILLION) 58
FIGURE 20 GLOBAL HEALTHCARE INDUSTRY MARKET GROWTH IN US$ TRILLION 2013-2015 59
FIGURE 21 TOTAL HEALTHCARE EXPENDITURE FROM PUBLIC SECTOR FOR G7 COUNTRIES, 2014 60
FIGURE 22 GLOBAL UV-CURED RESINS: HEALTHCARE MARKET 2012-2022 ($ BILLION) 61
FIGURE 23 GLOBAL UV-CURED RESINS: ELECTRONICS MARKET 2012-2022 ($ BILLION) 62
FIGURE 24 GLOBAL UV-CURED RESINS: PHOTOINITIATORS MARKET 2012-2022 ($ BILLION) 67
FIGURE 25 MARKET SHARE OF PHOTOINITIATORS UV RESINS MARKET IN APAC REGION IN $ MILLION 2014-2021 68
FIGURE 26 GLOBAL UV-CURED RESINS: OLIGOMERS MARKET 2012-2022 ($ MILLION).69
FIGURE 27 GLOBAL UV-CURED RESINS:MONOMERS MARKET 2012-2022 ($ MILLION)70
FIGURE 28 U.S. MARKET ESTIMATES AND FORECAST 2012-2022 ($ BILLION)72
FIGURE 29 NORTH AMERICA PACKAGING INDUSTRY 2016 73
FIGURE 30 US ADHESIVE MARKET 2016 74
FIGURE 31 US UV MARKET BY SEGMENT 75
FIGURE 32 CANADA MARKET ESTIMATES AND FORECAST 2012-2022 ($ BILLION) 76
FIGURE 33 EUROPE FOOD PACKAGING MARKET SHARE 80
FIGURE 34 WOOD COATING MARKET SHARE IN EUROPE 81
FIGURE 35 INDIA UV CURED MARKET ESTIMATES AND FORECAST 2012-2022($ MILLION)85
FIGURE 36 AUSTRALIA MARKET ESTIMATES AND FORECAST 2012-2022 ($ BILLION) 87
FIGURE 37 CHINA MARKET ESTIMATES AND FORECAST 2012-2022 ($ BILLION) 88
FIGURE 38 ADHESIVE REVENUE BREAK DOWN OF END USER INDUSTRY OF CHINA, 2014 89
FIGURE 39 CHINA SHARE IN GLOBAL AUTOMOTIVE MARKET 90
FIGURE 40 JAPAN MARKET ESTIMATES AND FORECAST 2012-2022 ($ BILLION) 91
FIGURE 41 MIDDLE EAST & AFRICA MARKET ESTIMATES AND FORECAST 2012-2022 ($ BILLION) 92
FIGURE 42 MIDDLE EAST AND AFRICA UV CURED RESINS MARKET BY END-USER, 201493
FIGURE 43 LATIN AMERICA MARKET ESTIMATES AND FORECAST 2012-2022 ($ BILLION) 95

List of Tables

TABLE 1 UV CURED RESIN PROPERTIES AND THEIR APPLICATIONS 17
TABLE 2 KEY MANUFACTURERS IN UV CURED RESIN MARKET AND THEIR STRATEGIES TO STAY AHEAD IN THE COMPETITION 21
TABLE 3 GOVERNMENT REGULATIONS FOR EMISSION OF VOC IN VARIOUS REGIONS 29
TABLE 4 VARIOUS TECHNOLOGICAL INNOVATIONS IN THE UV CURED RESINS MARKET 30
TABLE 5 COAT ANALYSIS BETWEEN WAX AND UV MASKING RESINS FOR PLATTING APPLICATION 42
TABLE 6 BENEFITS OF UV PRINTING 47
TABLE 7 BENEFITS OF UV CURED ADHESIVES 52
TABLE 8 UV-CURED RESINS: TECHNOLOGIES AND GLOBAL MARKETS BY END USER 2012-2022 ($ BILLION) .53
TABLE 9 ELECTRONIC INDUSTRY PRODUCTS 62
TABLE 10 INDUSTRY ACTIVITIES 63
TABLE 11 BENEFITS OF UV CURED RESINS FOR ELECTRONIC INDUSTRIES 64
TABLE 12 UV-CURED RESINS: TECHNOLOGIES AND GLOBAL MARKETS BY COMPOSITION 2012-2022 ($ BILLION) 66
TABLE 13 NORTH AMERICA MARKET ESTIMATES AND FORECAST 2012-2022 ($ BILLION) 71
TABLE 14 EUROPE MARKET ESTIMATES AND FORECAST BY REGION 2012-2022 ($ BILLION) 79
TABLE 15 ASIA PACIFIC MARKET ESTIMATES AND FORECAST BY REGION 2012-2022 ($ BILLION) 83