UV Curable Resins and Formulated Products Market Worth $7.3 Billion by 2026: Mar-ketsandMarkets

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MarketsandMarkets’ report, “UV Curable Resins and Formulated Products Market,” forecasts growth from $4.6 billion in 2021 to $7.3 billion by 2026. This represents a CAGR of 9.7% during the forecast period.

Government initiatives promoting clean fuel adoption, along with the growth of natural and fuel cell electric vehicles, are expected to drive market expansion.

Oligomers hold a major share in composition types by value. They are made using different backbone chemistries, such as polyester acrylates, epoxy acrylates, urethane acrylates, and acrylic acrylates. Oligomers give UV curing formulations their essential properties. The properties of printing inks, adhesives, coatings, and binders are mainly determined by the oligomers used in the formulation.

Acrylate oligomers lead the UV curable resins market in terms of value and volume. These are rapidly growing and widely used for applications like wood floors, kitchen cabinets, and furniture. They also find use in coatings for ski & snowboard coatings, as well as premium and mid-range furniture. Urethane acrylates offer high-end performance with minimal process issues and nearly zero VOC emissions.

The 100% solids UV resin technology dominates the market. These formulations provide increased corrosion resistance, thicker coatings, edge retention, and higher performance. They also require less drying time. They can self-prime and are used in applications like lining drum interiors.

100% solids UV formulations are used for aluminum extrusions, office furniture, appliances, business machines, containers, and various other OEM applications. Two-component polyurethane-based coatings cure at lower temperatures, reducing energy costs.

Coatings applications dominate the market in terms of value and volume. UV curable coatings are one of the fastest-growing segments in the coatings industry. This growth is mainly driven by the “going green” trend and increasing applications in various sectors.