International.
The global market for UV-curable resins is projected to reach US$3.05 billion in 2021, recording a CAGR of 8.12% from 2016 to 2021.
According to MarketsandMarkets, increasing strict regulations on VOC emissions have led to the development of eco-friendly technologies such as 100% UV and water-based UV to replace solvent-based UV. The high performance, due to the superior mechanical properties of UV-curable resins, further drives their demand.
Non-acrylated oligomers and oligoamines are used for free curing of coatings, inks and adhesives. Epoxy acrylates are one of the most commonly used UV oligomers. Fast curing, good chemical resistance, high gloss, and a relatively low cost are the advantages of epoxy acrylates.
Asia-Pacific is the largest market for UV curing formulated products, both in terms of volume and value, followed by Western Europe and North America. China, the US and Japan and Korea are the biggest consumers. Factors such as the evolving environmental and regulatory landscape, consumer awareness (including health and safety sensitivity), uncertainty about oil prices, and pressure from flag companies that want to improve their environmental performance of their supply chain, have led to growing demand from the sector.
