Continued Growth Expected for UV-Curable Resins Market
The global UV-curable resin market, along with its end products, has seen significant growth in the past few years. This growth is estimated to persist in the coming years, according to “UV Curable Resins Market by Application, End-User Industry & Geography—Trends & Forecasts to 2018,” a recent report from Research and Markets.
The Asia-Pacific region is currently the largest consumer of UV-curable resins, which reportedly consumed more than half of the total global consumption in 2012. Among all the countries in the region, China and Japan lead the global market, holding a major share in regional volumetric consumption of UV-curable resin in 2012. The market volume of UV-curable resin is comparatively low in the rest of the world region, but it is expected show the highest compound annual growth rate from 2013 to 2018, followed by the Asia-Pacific.
Almost 90% of the total demand is comes from coatings and inks manufacturers, with coatings application also being the fastest-growing end-user segment. As an end user, industrial coatings are the biggest and fastest-growing segment of UV-curable resins, which is primarily due to high penetration in all the regions. Subsequently, graphic arts and electronics industries were the second- and third-largest end users of UV-curable formulations.
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