The waterborne UV curable resin market is expected to grow at a 14.6% compound annual growth rate (CAGR) to reach a global market valuation of USD 1.6 billion by 2034, from an estimated market share of USD 300 million in 2023.
Another factor driving the worldwide waterborne UV curable resin market is increased consumer and company awareness of sustainability as well as environmental responsibility. Waterborne UV curable resins, which provide environmentally benign substitutes for conventional solvent-based coatings and are in line with sustainable business practices and preferences, are becoming more and more popular as a result of this expanding consciousness.
An avenue for growth in the global market for waterborne UV curable resin is the broadening range of applications in diverse sectors such as electronics, automotive, and packaging. Growing industrial demands and preferences for high-performance and environmentally friendly coatings present opportunities for creative startups and well-established firms to create customized solutions.
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Key Takeaways from the Market Analysis
- The global demand for waterborne UV curable resin reached US$ 100 million in 2019.
- It is expected that the urethane acrylate waterborne UV curable resin would attain a 14.3% CAGR through 2034.
- It is projected that wood application of waterborne UV curable resin will advance at a CAGR of 14.1% by 2034.
- The market in the United Kingdom is anticipated to rise through 2034 at 15.1% CAGR.
- It is projected that China’s waterborne UV curable resin ecosystem will evolve at a 15.6% CAGR between 2024 and 2034.
“The increased regulatory pressure to minimize emissions of volatile organic compounds (VOCs) and hazardous air pollutants (HAPs) is one factor propelling the global market for waterborne UV curable resin. This has generated a need for environmentally friendly coating solutions globally,” says an FMI analyst.
Competitive Landscape
Leading companies in the global market for waterborne UV curable resins are experimenting with new formulas that are less harmful to the environment and include less volatile organic compounds (VOCs) as well as hazardous air pollutants (HAPs).
To satisfy a variety of application needs, they are also improving the performance characteristics of these resins, including adhesion, durability, and scratch resistance. Innovations also concentrate on increasing the speed and efficiency of curing, allowing for speedier manufacturing processes without sacrificing high-quality finishes. These developments support the market expansion and long-term viability.
Startups in the global waterborne UV curable resin market are focused on new applications and customization options. By using their flexibility and agility to meet individual consumer demands and preferences, they want to produce solutions that are specifically designed for sectors like automotive, electronics, and packaging. In order to broaden their market reach and gain a competitive advantage, these companies are also investigating developments in nanotechnology and additives to improve the performance and adaptability of waterborne UV curable resin compositions.
Key Developments
- In 2022, DSM and Firmenich signed a business combination agreement (“BCA”) to form the leading creation and innovation partner in nutrition, beauty, and well-being (“DSM-Firmenich”).
- The merger combined Firmenich’s distinctive leading Perfumery and Taste businesses, as well as its world-class research platforms and related co-creation capabilities, with DSM’s exceptional Health and Nutrition portfolio and recognized scientific knowledge. Four very productive and complimentary companies, each with a leadership position and supported by top-notch research, will make up the new organization.
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Top Players in the Waterborne UV Curable Resin Market
- Allnex Belgium SA/NV
- BASF SE
- Alberdingk Boley GmbH
- Royal DSM N. V.
- Covestro
- Nippon Gohsei
- Wanhua Chemical Group Co. Ltd.
- Miwon Specialty Chemical Co. Ltd.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global waterborne UV curable resin market, providing historical data for 2019 to 2022 and forecast statistics from 2024 to 2034.
To understand opportunities in the global waterborne UV curable resin market, the market is segmented on the basis of type (urethane acrylate, blend of urethane acrylate with acrylic dispersion), application (wood, graphics, opto and electronics, foil and inks, plastics) and region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, The Middle East & Africa).
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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