Report Predicts Growing Demand for UV-Curable Resins
DALLAS, TX - Market research and consulting company MarketsandMarkets has published a new report on the UV-curable resins market. The report predicts the market will grow to 697.2 kilotons by 2018.
UV Curable Resins Market by Application (Coatings, Inks, Adhesives, & Others), End-User Industry (Graphic Arts, Industrial Coatings, Electronics, & Others) & Geography - Trends & Forecasts to 2018defines and segments the global UV-curable resins market with an analysis and forecasting of the global consumption volume and value.
Asia-Pacific is the world’s largest and fastest-growing market of UV-curable resins, which consumed more than half of the total global demand. The region is also a major consumer of radiation/energy curable products. China and Japan are the key consumers of UV-curable resins in Asia-Pacific. While countries including South Korea and Taiwan have comparatively small consumption levels, they are crucial countries in terms of production. Electronics and industrial coating end-use segments are driving the demand for high-performance coatings, inks and adhesives, which in turn is pushing the demand for UV-curable resins within the region. Intensified efforts of various regulatory authorities to promote environment-friendly products have led to innovation and developments in the industry, making it a strong hub and the biggest potential growth market for UV-curable resins and products. The Indian market, being a very price competitive market, has very small consumption levels of UV-curable resins. According to industry experts, the potential of the Indian market can never be undervalued, and once the need for performance products will catch pace, the consumption of UV-curable resins and its products will grow significantly.
Coatings manufacturing is the biggest as well as the fastest-growing application segment of UV-curable resins, consuming more than 65% of the total global demand in 2012. Due to the green nature of UV-curable coatings and their reduced curing time, they are seen as incredibly attractive alternatives by various end-user industries. Field-applied coatings and metal coating applications (coil, automotive, etc.) are expected to be the key growth areas for UV-curable coatings in the near future. The UV-curable inks market is also growing considerably because of strict norms related to printing on food packaging. Industrial coatings is the biggest end-user industry of UV-curable resins, consuming more than 35% of the total global demand in 2012. The industrial coatings industry is dominant around the globe unlike electronics, which is only dominant in Asia-Pacific.
For additional information about the report, click here.