The Global UV Curable Resins Market size is expected to reach $8.3 billion by 2025, rising at a market growth of 9.4% CAGR during the forecast period.
One of the fastest-growing techniques in the graphic arts, coatings, adhesives, and other associated sectors is UV curable resins. To attain customer satisfaction and economic compliance, various end-use product manufacturing businesses are now relying on UV curable coatings. UV curing technology displays inferior physical and chemical resistance.
The creation of new and improved photoinitiators in the UV curable resins industry is thought to be a relatively new phenomenon. Improvements like expanded photosensitive wavelength band and improved solubility of photoinitiators are integrated with standard photoinitiators to increase their performance. Developing new UV curing technology photoinitiators needs an enormous effort in R&D. Innovation in these products can assist to develop more efficient curable resins and boost the breadth of products to be cured across end-use sectors.
The industries are expanding primarily in developing and expanding nations like China, India, Malaysia, Thailand, Indonesia, Sri Lanka, Brazil, and others. Due to industrialization, the packaging sector is evolving at a significant pace. Due to its instant drying characteristics, the supply for UV curable resins in the packaging industry is also increasing. The global industry for UV curable resins is densely fragmented. The market has both major and minor competitors. The industry is powered by high technology and businesses that spend a great deal of amount for new product development in R&D operations.
Recent Strategies Deployed in UV Curable Resins Market
- Aug, 2019: Dymax launched BlueWave AX-550 LED flood curing system which is used for curing light-curable materials.
- Jul, 2019: IGM opened a new photoinitiator production facility in Anhui Province, China in order to expand its business.
- Jun, 2019: DSM extended Skins resins family with the launch of its AgiSyn 248 resin, also known as Silky UV, a UV curable resin for screen overprint varnishes and flexographic in order to deliver excellent properties.
- May, 2019: Sun Chemicals, a DIC company introduced SunWave Lumina, a new range of high performance; UV LED curing sheetfed offset inks for use in commercial printing.
- Apr, 2019: Allnex expanded its reach to South Carolina by increasing its Radcure Oligomer Production Capacity in North Augusta for developing the curable products.
- Mar, 2019: Arkema launched liquid resin solutions in order to advance UV/EB curing performance for adhesives graphic arts, coatings, 3D printing, and personal care applications.
- Mar, 2019: IGM announced its expansion to North America by establishing a new manufacturing facility in USA focusing on the development of UV inks and coatings.
- Mar, 2019: Allnex launched EBECRYL 898; a solvent-free UV curable binder in order to help in achieving substrate-specific end properties on wood; plastics & papers foil substrates, and resilient flooring.
- Feb, 2019: BASF unveiled VMOX, a new vinyl monomer which is particularly suitable as a reactive diluent in UV curing inks and coatings.
- Nov, 2018: Arkema introduced new UV curable resins products in order to extend its N3xtDimension line of UV curable engineered resins.
- Sep, 2018: Hitachi Chemicals expanded its reach to Malaysia by opening a new Hitachi Chemical's subsidiary which focuses on development of solutions for printed wiring boards.
- Aug, 2018: Allnex released EBECRYL resins in order to provide care upon exposure to UV light.
- Jul, 2018: Arkema expanded its reach to Exton, PA facility by opening a new center of excellence in order to develop 3D printing resins for dental, sports and electronics applications.
Mergers and Acquisitions
- Jul, 2019: Arkema acquired Lambson, a company which has specialization in photoinitiators for curing in order to meet the demands of electronics markets, digital ink market, composites market, 3D printing market, and high-performance coatings market.
- May, 2019: Sun Chemicals, a DIC company took over Chemi Plast Pvt. Ltd. in order to expand its coating resins business in India.
- Oct, 2018: Allnex acquired Desmolux product range from Bayer MaterialScience for increasing its portfolio of urethane acrylate, polyester/polyether acrylate, and dual cure resin technologies to complement UV/EB radiation curing products.
Partnerships, Collaborations and Agreements
- Sep, 2019: Arkema came into partnership with Continuous Composites in order to integrate Arkema's cutting edge photocurable resin solutions with Continuous Composites' patented continuous fiber 3D (CF3D) printing technology for generating new options for continuous fiber composite AM.
- Jul, 2019: Covestro announced its partnership with Carbon for developing polyurethane liquid resin for 3D printing.
- Jul, 2019: Dymax signed partnership agreement with Rudolph Bros. & Co. for the distribution of its products such as adhesives, conformal coating, maskants, etc.
- Jun, 2019: BASF extended its partnership with Azelis for distributing its resins, additives, dispersions, renewable systems, and radiation-curable systems.
- Nov, 2018: BASF signed partnership agreement with Origin for developing a new printing process, Ultracur3D photopolymers, for improved surfaces and high mechanical throughput.
- Sep, 2018: DSM came into partnership with FormFutura in order to unlock full potential of high-performance coating resins.
- May, 2018: DIC signed Joint development agreement with Checkerspot, Inc. in order to develop high performance polyols.
- Arkema S.A.
- BASF SE
- Covestro AG
- Dymax Corporation
- DIC Corporation
- Koninklijke DSM N.V.
- Hitachi Chemical Co. Ltd. (Hitachi Ltd.)
- IGM Resins B.V.
- Allnex Belgium S.A./N.V.
- Toagosei Co. Ltd.
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