HOME Research Insight Key Players in the UV Curable Resins & Formulated Products Market

Key Players in the UV Curable Resins & Formulated Products Market

The global UV curable resins & formulated products market size is estimated to be USD 4.00 Billion in 2018 and is projected to reach USD 6.31 Billion by 2023, at a CAGR of 9.5% during the forecast period. Government regulations in Europe and North America, especially that concerning air pollution, will continue to drive the adoption of the low-emission UV curing technology over the next 5 years. The report analyzes key growth strategies adopted by the market players between 2011 and 2018 to expand their global presence and increase their market share. Arkema (France), Allnex (Germany), Toagosei (Japan), BASF (Germany), Royal DSM (Netherlands), Covestro (Germany), Nippon Gohsei (Japan), Hitachi Chemical Company (Japan), IGM Resins (Netherlands), and Miwon Specialty Chemical (South Korea) are the key leading players of the market.

New product launches, expansions, and mergers & acquisitions are the key strategies adopted by the industry players to grow in the UV curable resins & formulated products market. These strategies accounted for a share of 62%, 21%, and 18%, respectively, of the total growth strategies adopted by the market players. The rising demand for environment-friendly wood coatings and the high growth of the plastic coatings industry in developed countries is encouraging companies to adopt these strategies. Market players are focusing on entering new markets by launching technologically advanced and innovative resins for different applications. Allnex Group (Germany), BASF SE (Germany), Arkema SA (France), and Miwon Specialty Chemical Co. Ltd. (South Korea) are some of the leading market players that have adopted these strategies to develop their business.

Arkema has a strong position in the UV curable resins & formulated products market and has a strong geographical presence in North America, Europe, and APAC. The company has a limited presence in emerging markets, such as Brazil, Chile, Colombia, Peru, Qatar, and Egypt, and is focusing on new product launches and expansions as its growth strategies. Sartomer, a subsidiary of Arkema SA, introduced CN9302 dual-cure urethane acrylate oligomer in September 2016. The product delivers both isocyanate and acrylate functionalities to give UV/EB formulations a secondary cure, which results in enhanced coating performance.

Allnex has a strong foothold in the UV curable resins & formulated products market and has adopted various strategies, such as mergers & acquisitions, expansions, and new product launches. The company has adopted new product launches as its major business strategy, which further has helped the company to enhance its global presence. In December 2017, Allnex launched UCECOAT 7230, its first waterborne UV curable dispersion, which can be used on a wide variety of plastic substrates. The product is expected to serve a multitude of application segments, including automotive and industrial plastics, plastic films and sheets, consumer electronics, and flooring.

In September 2016, Allnex and Nuplex Industries collaborated to form one company. The company is a strong global player in UV curable resins & formulated products market, with over 30 manufacturing sites and about 24 research and technology support facilities around the world.

Related Reports:

UV Curable Resins & Formulated Products Market by Composition (Oligomers, Monomers, Photoinitiators, Additives), Chemistry (Non-Acrylates & Oligoamines, Acrylates), Application, Technology, and Region - Global Forecast to 2023

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