The report "Waterborne UV Curable Resins Market by Chemistry (Urethane Acrylate and Blend), by Application (Wood, Graphics, Opto & Electronics, Foil & Inks, and Plastics), and by Region - Global Forecasts to 2020", is projected to reach USD 230.3 Million by 2020, growing at a CAGR of 13.52% from 2015 to 2020. Environmentally friendly and healthier systems necessitated by stringent new government regulations, the need to reduce system costs, and the rising need for enhancing the performance, durability, and ease of use of products are the key factors contributing to the growth of the waterborne UV curable resins market.
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Environmental concerns, growing awareness, and increasingly stringent regulations to drive the waterborne UV curable resins market
The presence of volatile organic compounds (VOCs) in a coating’s formulation, or during the application and drying processes, is undesirable, due to Hazardous Air Pollutants (HAP) and negative effects on workers. These substances are generally formaldehyde and organic solvents. In recent years, government regulations and environmental concerns have prompted coating formulators and manufacturers to develop environmentally friendly green coating alternatives that perform as well as or better than the conventional solvent-borne systems. Waterborne UV curable resins offer several advantages, including zero VOC, low odor, non-toxicity, non-skin irritation, and safe production process. The U.S., DACH (Deutschland, Austria, and Switzerland) region, and China are some of the major markets for waterborne UV curable resins.
Urethane acrylates account for the largest demand share of waterborne UV curable resins
Urethane acrylates account for the largest share share in the waterborne UV curable resins market. Waterborne urethane acrylates (PUDs) are a viable resin choice for coatings for several end-use markets, including wood floors, kitchen cabinets, and furniture. They offer high-end performance with minimal process issues, and nearly zero emission of VOCs.
Wood coatings represent the bulk of the demand for waterborne UV curable resins
Wood coatings are expected to continue to represent the bulk of the end-use demand for waterborne UV curable resins, because the waterborne UV technology provides excellent performance, low solvent emissions, and increased production efficiency.
Key players in the waterborne UV curable resins market
Europe is the largest market for waterborne UV curable resins, in terms of both, volume and value, followed by North America and Asia-Pacific. The key players in the global market include Allnex Belgium S/A (Belgium), Alberdingk Boley GmbH (Germany), Royal DSM N.V. (The Netherlands), BASF SE (Germany), Covestro (Formerly Bayer MaterialScience) (Germany), Nippon Gohsei (Japan), Wanhua Chemical Group Co. (China), and Miwon Specialty Chemical Co. Ltd. (Korea).
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