The mushrooming popularity of environment-friendly industrial coatings is one of the major factors fueling the demand for UV curable resins across the world. It has been observed that the conventionally used inks, coatings, and adhesives contain various hydrocarbon solvents which when cured release hydrocarbons into the atmosphere. As these hydrocarbons contain harmful and toxic volatile organic compounds (VOCs), they being rapidly replaced by eco-friendly variants. Moreover, the governments of many countries are enacting strict regulations for mitigating VOC emissions.
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Unlike the conventionally used products, the UV curable products do not affect the environment. As a result, the popularity of radiation curable inks, coatings, and adhesives with UV and electron beam (EB) is growing rapidly. Furthermore, many industries are increasingly preferring to use UV cured resins over the conventional products, because of their greater environment-friendliness. Another factor propelling the worldwide sales of UV curable resins is the burgeoning requirement for UV curable products in the electronics industry.
In this industry, these products are being extensively used in various applications such as in mobile phone and various consumer gadget displays, in the production of printed circuit boards (PCBs), and as adhesives in electronic and phone manufacturing assembly. As UV resins provide hardness, they are being heavily used in various wearable electronics. Besides this, the rising requirement for UV curable inks in packaging applications is also propelling the global demand for UV curable resins.
Because of their zero emission characteristics, UV curable inks are extensively being used in the packaging industry. Moreover, these products are approved by the Food and Drug Administration (FDA). Furthermore, the surging requirement for packaging in countries such as India and China is massively boosting the demand for UV cured inks, which is, in turn, propelling the sales of UV curable resins across the world. This is subsequently fueling the progress of the global UV curable resins market.
Coatings, adhesives, inks, filling materials, masking materials, staping motor protective layers, and soldering materials are the major application areas of UV curable resins. Out of these, the requirement for UV curable resins was the highest in coatings during the last few years, as per the observations of P&S Intelligence, a market research company based in India. This was because of the huge requirement for coatings in several industries such as automotive, construction, and electronics.
Across the globe, the sales of UV curable resins are predicted to shoot up in the Asia-Pacific (APAC) region in the forthcoming years. This will be because of the rapid expansion of the construction industry in various regional countries such as India, Indonesia, and China. Moreover, the boom in the automotive industry in these countries, especially China, which has emerged as the world’s largest automobile manufacturer, is also fueling the demand for UV curable resins in the region.
Hence, it is safe to say that the demand for UV curable resins will surge sharply all over the world in the upcoming years, primarily because of their mushrooming requirement in the electronics and packaging industries and the soaring popularity of eco-friendly industrial coatings.