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New Product Launches and Mergers & Acquisitions are the Key Strategies Adopted by Industry Players to Achieve Growth in the UV Curable Resins Market
The report analyzes the key growth strategies adopted by market players between 2011 and 2016 to expand their presence and increase share in the global UV curable resins market. Allnex Belgium S/A (Belgium), Alberdingk Boley GmbH (Germany), Royal DSM N.V. (Netherlands), BASF SE (Germany), Covestro (Formerly Bayer MaterialScience) (Germany), Nippon Gohsei (Japan), Jiangsu Sanmu Group Corporation (China), Wanhua Chemical Group Co. (China), Dymax Corporation (U.S.), Eternal Chemical Co. (Taiwan), Hitachi Chemical Company Ltd. (Japan), IGM Resins (Netherlands), Sartomer USA LLC (U.S.), and Miwon Specialty Chemical Co. Ltd. (Korea) are the key leading players of the market.
New product launches and mergers & acquisitions are the key strategies adopted by industry players to achieve growth in the UV curable resins market. These strategies accounted for 70% and 17% shares, respectively of all the growth strategies adopted by the market players. The rising demand for environmental-friendly wood coatings and high growth of the plastic coatings industry in developed countries encourage companies to adopt these strategies. The market players are focusing on entering new markets by launching technologically advanced and innovative resins for different applications. Allnex Belgium SA/NV (U.S.), BASF SE (Germany), Sartomer USA LLC (U.S.), and Miwon Specialty Chemical Co. Ltd. (Korea) are some of the leading market players that have adopted these strategies to develop their business.
Besides new product launches, the companies opted for mergers & acquisitions, investments & expansions, and agreements & partnerships to expand their market share and distribution network. These strategies accounted for 17%, 9%, and 4% shares, respectively of the overall growth strategies adopted by the players in the UV curable resins market between 2011 and 2016.
As a part of its business strategy, Allnex focuses on developing new products to differentiate its products from its competitors. It also participates in various conferences and exhibitions to highlight its products and technologies. The company undertook a few expansion activities to develop new markets for its products. It also invested in a new technical services & development (TS&D) laboratory in Shanghai to bring together its key technologies under one roof for synergies and resource sharing in technical developments. The company invested in a new technology center in the Americas to accelerate its growth in key markets and further globalize its business.
In October 2015, Allnex launched two new UV resins, EBECRYL 8602 and EBECRYL 8415. High functionality urethane acrylates are used for hard coat applications. This may help the company to expand its portfolio and increase its use in various end-use industries.
In July 2013, Allnex acquired Bayer MaterialScience AG’s DESMOLUX product range. It included non-waterborne radiation curing acrylated resins and radiation curing unsaturated polyesters in acrylated diluents. This move helped the company to develop new markets for Radcure, increase its presence in new applications, and globalize the DESMOLUX business. This also enabled the company to enhance its technology leadership and increase its presence in new applications.
Sartomer is a leading global manufacturer of acrylate/methacrylate monomers, oligomers and other specialty chemicals used in 3D printing, adhesives & sealants, advanced materials, chemical intermediates, coatings, elastomers, electronics, and graphic arts applications. Sartomer introduced CN9030 oligomer in August 2015. Its unique composition helps to provide a weatherable top coat in high-performance UV/EBcure coating applications. This also helps to produce strong, flexible films for challenging materials such as metals and plastics.
UV Curable Resins & Formulated Products Market by Composition, by Application, by Chemistry, Application by Composition, and by Region - Global Forecast to 2021
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