UV Curable Resin Market Size (2024 - 2029)

The UV Curable Resin Market is projected to experience significant growth over the forecast period, driven by the increasing adoption of eco-friendly industrial coatings and the rising demand in packaging applications. Despite the initial setbacks caused by the COVID-19 pandemic, which disrupted manufacturing and supply chains, the market has shown recovery and resilience. The market's expansion is further supported by emerging opportunities in 3D printing, digital printing, and printed circuits. The Asia-Pacific region stands out as the largest and fastest-growing area, fueled by substantial consumption in countries like China, India, and Japan.

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Market Size of UV Curable Resin Industry

UV Curable Resin Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 5.05 Billion
Market Size (2029) USD 7.00 Billion
CAGR (2024 - 2029) 6.76 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

UV Curable Resin Market Major Players

*Disclaimer: Major Players sorted in no particular order

UV Curable Resin Market Analysis

The UV Curable Resin Market size is estimated at USD 5.05 billion in 2024, and is expected to reach USD 7 billion by 2029, growing at a CAGR of 6.76% during the forecast period (2024-2029).

The COVID-19 pandemic negatively impacted the market. It was because of the shutdown of the manufacturing facilities and plants due to the lockdown and restrictions. Supply chain and transportation disruptions further created hindrances for the market. However, the industry witnessed a recovery in 2021, thus rebounding the demand for the market studied.

  • Major factors driving the market studied are increased usage of environment-friendly industrial coatings and rising demand for UV-curable resins in packaging applications.
  • High initial capital costs are restraining market growth.
  • Increasing applications in 3D printing, digital printing, and printed circuits offer various lucrative opportunities for market growth.
  • Asia-Pacific region represents the largest market and is expected to be the fastest-growing market over the forecast period owing to the consumption from countries such as China, India, and Japan.

UV Curable Resin Industry Segmentation

UV-curable resins are types of resin that can be cured upon exposure to UV rays. In UV rays, the adhesives get solid and bond to the substrates required. The UV curable resins market is segmented by resin type, application, end-user industry, and geography. The market is segmented by resin type into acrylate epoxies, acrylate polyesters, acrylate urethanes, acrylate silicones, and other resin types. The market is segmented by application into the coating, printing, adhesives and sealants, and others and by composition into monomers, photoinitiators, oligomers, and co-initiators. The end-user industry segments the market into electronics, industrial coatings, medical, automotive, and packaging. The report also covers the market size and forecasts for the UV curable resins market in 15 countries across major regions. The report offers market size and forecasts for the calcium oxide market in revenue (USD) for all the above segments.

Resin Type
Acrylated Epoxies
Acrylated Polysters
Acrylated Urethanes
Acrylated Silicones
Others
Composition
Monomers
Photoinitiators
Oligomers
Coinitiators
Application
Coating
Printing
Adhesives and Sealants
Others
End-user Industry
Electronics
Industrial Coatings
Medical
Automotive
Packaging
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East & Africa
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UV Curable Resin Market Size Summary

The UV curable resin market is poised for significant growth over the forecast period, driven by increasing demand for environmentally friendly industrial coatings and their expanding applications in packaging, 3D printing, and digital printing. The market experienced a setback due to the COVID-19 pandemic, which caused manufacturing shutdowns and supply chain disruptions. However, it rebounded in 2021, with the Asia-Pacific region emerging as the largest and fastest-growing market, fueled by robust consumption in countries like China, India, and Japan. The region's rapid industrialization, particularly in sectors such as paints and coatings, construction, and electronics, is expected to further propel market expansion. Despite high initial capital costs posing a challenge, the market's growth is supported by the increasing use of UV curable resins in various industries, including food and pharmaceutical packaging, where acrylated urethanes are gaining traction due to their durability and flexibility.

The global UV curable resin market is characterized by a fragmented landscape with both major and minor players, including prominent companies like Arkema Group, BASF SE, Covestro AG, Resonac Holdings Corporation, and DSM. The market's growth is underpinned by the burgeoning packaging industry, particularly in China and India, where rising per capita income and e-commerce activities are driving demand. The automotive and electronics sectors also contribute to market growth, with UV curable resins being used in automotive finishes and electronic components. Supportive government policies in the Asia-Pacific region, such as India's Make in India initiative, further bolster domestic manufacturing and export capabilities, enhancing the market's prospects. As the market continues to evolve, recent developments and strategic initiatives by key players will play a crucial role in shaping its future trajectory.

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UV Curable Resin Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increase in Use of Environment-Friendly Industrial Coatings

      2. 1.1.2 Rising Demand for UV Curable Inks in Packaging Application

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 High Initial Capital Cost

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Resin Type

      1. 2.1.1 Acrylated Epoxies

      2. 2.1.2 Acrylated Polysters

      3. 2.1.3 Acrylated Urethanes

      4. 2.1.4 Acrylated Silicones

      5. 2.1.5 Others

    2. 2.2 Composition

      1. 2.2.1 Monomers

      2. 2.2.2 Photoinitiators

      3. 2.2.3 Oligomers

      4. 2.2.4 Coinitiators

    3. 2.3 Application

      1. 2.3.1 Coating

      2. 2.3.2 Printing

      3. 2.3.3 Adhesives and Sealants

      4. 2.3.4 Others

    4. 2.4 End-user Industry

      1. 2.4.1 Electronics

      2. 2.4.2 Industrial Coatings

      3. 2.4.3 Medical

      4. 2.4.4 Automotive

      5. 2.4.5 Packaging

    5. 2.5 Geography

      1. 2.5.1 Asia-Pacific

        1. 2.5.1.1 China

        2. 2.5.1.2 India

        3. 2.5.1.3 Japan

        4. 2.5.1.4 South Korea

        5. 2.5.1.5 Rest of Asia-Pacific

      2. 2.5.2 North America

        1. 2.5.2.1 United States

        2. 2.5.2.2 Canada

        3. 2.5.2.3 Mexico

      3. 2.5.3 Europe

        1. 2.5.3.1 Germany

        2. 2.5.3.2 United Kingdom

        3. 2.5.3.3 Italy

        4. 2.5.3.4 France

        5. 2.5.3.5 Rest of Europe

      4. 2.5.4 South America

        1. 2.5.4.1 Brazil

        2. 2.5.4.2 Argentina

        3. 2.5.4.3 Rest of South America

      5. 2.5.5 Middle-East and Africa

        1. 2.5.5.1 Saudi Arabia

        2. 2.5.5.2 South Africa

        3. 2.5.5.3 Rest of Middle-East & Africa

UV Curable Resin Market Size FAQs

The UV Curable Resin Market size is expected to reach USD 5.05 billion in 2024 and grow at a CAGR of 6.76% to reach USD 7.00 billion by 2029.

In 2024, the UV Curable Resin Market size is expected to reach USD 5.05 billion.

UV Curable Resin Market Report Snapshots

UV Curable Resin Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)