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UV Curable Resins & Formulated Products Market to Reach USD 7.3 Bn by 2026: M&M

Published on 2022-01-05. Edited By : SpecialChem

TAGS:  UV/EB Technology     Industrial Coatings    

market-rise-decUV curable resins and formulated products market is expected to grow from USD 4.6 billion in 2021 to USD 7.3 billion by 2026, at a CAGR of 9.7% during the forecast period. Government initiatives emphasizing on adoption of clean fuel and growth in number natural and fuel cell electric vehicles are expected to drive the market.

Oligomers - Major Share in Composition Type in Terms of Value

Oligomers are high molecular weight and high viscosity UV curing materials. They are produced using several different backbone building chemistries, such as polyester acrylates, epoxy acrylates, urethane acrylates, and acrylic acrylates. Oligomers impart most of the basic properties to the UV curing formulation. The overall properties of printing inks, adhesives, coatings, and binders crosslinked by radiant energy are determined mainly by the type of oligomers used in the chemical formulation.

Acrylate Oligomers - Largest Chemistry Type of UV Curable Resins

Acrylate oligomers are rapidly growing and are a viable choice of UV curable resins for several end uses such as wood floors, kitchen cabinets, and furniture. They are also used in hardwood & resilient flooring, ski & snowboard coatings, and coatings for premium & medium-priced point furniture. Urethane acrylates offer high-end performance with minimal process issues and nearly zero VOC emission.

100% solids UV formulations provide increased corrosion resistance, coating thickness, edge retention, a higher level of performance, and require less drying time. They can self-prime and have been used to replace low solids formulations in lining drum interiors.

100% solids UV formulations are used for aluminum extrusions, office furniture, appliances, business machines, containers, and various other OEM applications. Two-component polyurethane-based high solids coatings cure at lower temperatures than baking systems, thereby reducing energy costs.

Coatings application dominates the market in the global UV curable resins and formulated products market during the forecast period in terms of value and volume.

In the coatings industry, UV curable coatings technology is one of the fastest-growing segments, driven mainly by the “going green” trend and its increasing applications in various industries.

UV curable resins and formulated products are widely used in coatings application. The use of UV coatings has increased significantly during the last decade in the electronics industry in mobile phones, laptops, and game console coatings.

The main reason for this growth is the excellent performance that can be achieved with UV coatings, especially, good wear resistance, outdoor durability, and resistance against household chemicals. With an increasing demand for high performance and long-lasting electronic components, combined with the global shift toward more environmentally friendly coating technology, the use of waterborne UV technology is expected to witness excellent growth.

Source: M&M

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