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UV Curable Resin market Scenario
WILMINGTON, DE, UNITED STATES, September 19, 2024 /EINPresswire / -- According to Allied Market Research's latest report, the global UV curable resin market , valued at $4.74 billion in 2018, is projected to reach $9.76 billion by 2026, growing at a CAGR of 9.4% from 2019 to 2026.
Market Drivers and Challenges:
The market's expansion is fueled by the rising demand for eco-friendly paints and coatings, particularly in architectural applications. However, fluctuations in raw material costs and limited light penetration depth present challenges. Conversely, stringent green regulations are creating new opportunities for market growth.
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Segment Insights:
1. Resin Types:-
- Acrylated Epoxies: This segment dominated the market in 2018, accounting for over one-third of the revenue. Its strong position is due to high cure rates and exceptional adhesion, thanks to the polar hydroxyl and ether groups in the epoxy structure. This trend is expected to continue throughout the forecast period.
- Acrylated Urethanes: Expected to grow at the highest rate, with a CAGR of 10.3%, acrylated urethanes offer remarkable performance across various substrates, including superior film hardness, elasticity, and durability.
2. Applications:-
Coatings: Leading the market, the coatings segment represented nearly one-third of the market share in 2018. Its prominence is driven by the demand for zero VOC content and its use in various coating additives. The segment is expected to maintain its lead through 2026.
Printing: Projected to grow at the highest CAGR of 11.0%, this segment is buoyed by the adoption of advanced printing technologies, such as inkjet, which provide technical benefits.
Regional Insights:
- Asia-Pacific: Dominating the market with over one-third of the global share in 2018, this region is expected to sustain its lead and achieve the highest growth rate of 10.6% CAGR by 2026, driven by the expanding paints and coatings sector and increased automotive applications.
- North America: Holding the second-largest market share, North America is also expected to see steady growth.
Key Market Players
- Hitachi Chemical
- DSM-AGI
- BASF SE
- Allnex Belgium S.A.
- Jiangsu Litian Technology
- IGM
- Sartomer
- Dymax
- Miwon Specialty Chemical
- Eternal Materials
- Jiangsu Sanmu Group
David Correa
Allied Market Research
+1 800-792-5285
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.