UV-Cured Resins Market to experience an impressive growth of 7.9% during 2020-2025
January 31, 2020
UV-Cured resins market is likely to witness an impressive CAGR of 7.9% during the forecast period. Stringent regulation towards VOC emission and increasing demand for environment-friendly products are the major factors propelling the demand for UV-cured resins in the global market.
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UV-Cured Resins Market Segment Insights:
By Composite Type:
Based on the composition type, the market is segmented as oligomers, monomers, photoinitiators, and others. The oligomers segment is expected to lead the market during the forecast period, owing to its superior properties, such as fast curing, good chemical resistance, high gloss, and relatively low cost among all the available composition types.
By Application Type
Based on the application type, the market is segmented as coatings, inks, adhesives, and others. The coatings segment dominated the UV-cured resins market and is expected to remain dominant during the forecast period owing to increased usage of UV coatings in the electronics industry as they deliver outdoor durability, good wear resistance, and resistance against household chemicals.
By Region:
In terms of regions, Asia-Pacific is expected to remain the largest market for UV-Cured resins during the forecast period, followed by Europe and North America. The market is driven by the increasing penetration in electronic sector, rising awareness towards health and safety along with the stringent VOC emission standards.
Key Players:
Some of the major players in the UV-Cured resins market are BASF SE, Taogosei Co. Ltd., Koninklijke DSM N.V., The Nippon Synthetic Chemical Industry Co. Ltd., Covestro AG, Wanhua Chemical Group Co. Ltd., Miwon Specialty Chemical Co Ltd., Hitachi Ltd., Arkema Group, and DIC Corporation.
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