The waterborne UV curable resin market had an estimated market share worth USD 300 million in 2023, and it is predicted to reach a global market valuation of USD 1.6 billion by 2034, growing at a CAGR of 14.6% from 2024 to 2034.
The use of bio-based raw ingredients into resin formulations is a novel trend in the waterborne UV curable resin market. The environmental sustainability of coatings is improved by this method, which lessens dependency on components generated from petrochemicals.
Manufacturers may generate environmentally friendly resins that satisfy regulatory requirements and appeal to customers who care about the environment by utilizing renewable resources like plant-based oils. This will drive market growth and distinction.
| Report Attribute | Details |
|---|---|
| Estimated Market Value in 2023 | USD 300 million |
| Expected Market Value in 2024 | USD 401.7 million |
| Projected Forecast Value in 2034 | USD 1.6 billion |
| Anticipated Growth Rate from 2024 to 2034 | 14.6% |
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The global demand for the waterborne UV curable resin market was estimated to reach a valuation of USD 190 million in 2019, according to a report from Future Market Insights (FMI). From 2019 to 2023, the waterborne UV curable resin market witnesses significant growth, registering a CAGR of 16.2%.
| Historical CAGR from 2019 to 2023 | 16.2% |
|---|---|
| Forecast CAGR from 2024 to 2034 | 14.6% |
A recent breakthrough in the waterborne UV curable resin market is the development of hybrid resin systems that combine UV curable acrylate with waterborne technology.
With improved flexibility, adhesion, and scratch resistance, businesses can now produce high-performance coating solutions that are adaptable to a wide range of applications in sectors including packaging and the automobile industry.
The market for waterborne UV curable resin is expected to grow in the future due to four factors:
Research towards more Effective Coatings to Accelerate Demand
The market for waterborne UV curable resin is being propelled by the growing need for economical and effective coating solutions in a range of sectors. Waterborne UV curable resins present an appealing alternative in light of the growing demand for high-performance coatings that provide quick curing times, outstanding adhesion, and exceptional durability.
This desire is especially noticeable in industries like packaging, electronics, and automobiles where producers want to improve product quality while streamlining manufacturing procedures to propel market expansion.
Increasing Focus on Ecological Consciousness to Bolster Demand
An important factor driving the market for waterborne UV curable resin is the growing emphasis on environmental consciousness and sustainability. Industries are adopting more environmentally friendly coatings, such as waterborne UV curable resins, in response to strict laws designed to minimize environmental effect and reduce emissions of volatile organic compounds (VOCs).
Growing customer demand for goods with smaller environmental footprints is another factor fueling this driver. This pushes manufacturers to develop and provide sustainable solutions, which in turn propels the market growth.
Higher Upfront Costs to Impede the Market Growth
Several issues might impede the growth of the waterborne UV curable resin market, including low awareness and acceptance due to higher initial costs compared to conventional coatings. Complicated regulations and regionally disparate standards might make industry expansion difficult.
Concerns about the durability and performance of these resins in comparison to solvent-based alternatives may prevent their widespread use, which would limit their potential to expand in the global market.
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This section focuses on providing detailed analysis of two particular market segments for waterborne UV curable resin, the dominant type and the dominant application. The two main segments discussed below are the urethane acrylate waterborne UV curable resin and wood application.
| Type | Urethane Acrylate |
|---|---|
| CAGR from 2024 to 2034 | 14.3% |
During the forecast period, the urethane acrylate waterborne UV curable resin system segment is likely to garner a 14.3% CAGR. The unique characteristics of urethane acrylate resin are making it a promising product for the waterborne UV curable resin market.
Urethane acrylate resins are used in wood coatings, automobile finishes, and packaging materials, among other applications, because of their outstanding adhesion, flexibility, and chemical resistance.
Urethane acrylate resin is a preferred option in the market due to its capacity to produce coatings that are high-performing, long-lasting, and ecologically friendly, as well as the rising need for adaptable and eco-friendly solutions.
| Application | Wood |
|---|---|
| Market Share in 2024 | 51.4% |
In 2024, the wood application segment is likely to acquire a 51.4% global market share. Waterborne UV curable resins are widely used in wood applications due to their ecologically harmless nature (low VOC emissions), rapid curing capabilities under UV light, and increased durability (good adhesion and scratch resistance).
Their ability to achieve a variety of finishes accommodates a wide range of aesthetic tastes. These resins are widely used in wood treatments since they also provide a safer working environment and comply with health and safety regulations.
This section will go into detail on the waterborne UV curable resin markets in a few key countries, including the United States, the United Kingdom, China, Japan, and South Korea. This part will focus on the key factors that are driving up demand in these countries for waterborne UV curable resins.
| Countries | CAGRs from 2024 to 2034 |
|---|---|
| The United States | 14.9% |
| The United Kingdom | 15.1% |
| China | 15.6% |
| Japan | 15.4% |
| South Korea | 15.8% |
The United States waterborne UV curable resin ecosystem is anticipated to gain a CAGR of 14.9% through 2034. The extensive ecosystem of collaboration among academia, business, and government in the United States promotes innovation in waterborne UV curable resin technology. Partnerships and knowledge-sharing activities speed research and development, resulting in novel formulations and applications that fuel market growth.
Waterborne UV curable resins are making advances into niche sectors in the United States, such as marine and aerospace coatings, where strict performance standards are met with the aim of environmental sustainability. By focusing on certain market segments, enterprises may drive growth and distinction in the industry.
The market in the United Kingdom is expected to expand with a 15.1% CAGR through 2034. Waterborne UV curable resins are becoming more and more popular in the United Kingdom owing to strict environmental restrictions that support their low volatile organic compound (VOC) emissions and alignment with sustainability aims.
The regional emphasis on research and development encourages innovation in waterborne UV curable resin compositions, which results in the creation of high-performance coatings that satisfy changing customer demands and industry standards, boosting market share and growth.
The waterborne UV curable resin ecosystem in China is anticipated to develop with a 15.6% CAGR from 2024 to 2034. The booming industrial sector in China, notably in the electronics, automotive, and packaging industries, drives up demand for high-performance coatings. Waterborne UV curable resins are fueling market expansion by providing environmentally friendly solutions that meet regional sustainability targets.
The use of waterborne UV curable resins is encouraged by government programs that support sustainable development and environmental conservation. Manufacturers are encouraged to transition from solvent-based to aqueous UV curable alternatives by subsidies, incentives, and legislation supporting environmentally friendly coatings, which propels market development.
The waterborne UV curable resin industry in Japan is anticipated to reach a 15.4% CAGR from 2024 to 2034. Japan encourages broad cooperation in waterborne UV curable resin research across government, business, and academia, which results in collaborative efforts and quick advancements in the field.
Japan has a competitive edge in manufacturing high-quality waterborne UV curable resin devices and components. This is due to its well-known advanced manufacturing skills, especially in precision optics as well as electronics.
The waterborne UV curable resin ecosystem in South Korea is likely to evolve with a 15.8% CAGR during the forecast period. Waterborne UV curable resins are becoming more and more popular due to strict environmental rules and policies that encourage the use of eco-friendly coatings. This is in line with South Korea's commitment to sustainability and the reduction of emissions of volatile organic compounds (VOCs).
Due to the strong focus on research and development, waterborne UV curable resin compositions have advanced technologically, resulting in the invention of high-performing, environmentally friendly coatings that are suited to a variety of industry applications.
Key companies in the global market for waterborne UV curable resin are concentrating on a number of significant projects. They are making significant investments in research and development to create novel formulations that satisfy customer demands for sustainable products and environmental standards.
In order to fulfill the increasing demand for waterborne UV curable resins across a variety of sectors, including coatings, adhesives, and printing, these companies are also increasing their production capacity.
They are proactively forming alliances and working together to expand their networks of distribution and market presence in order to take advantage of new possibilities in specialized applications and geographic areas. The key players in this market include:
Significant advancements in the waterborne UV curable resin market are being made by key market participants, and these include:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 14.6% from 2024 to 2034 |
| Market value in 2024 | USD 401.7 million |
| Market value in 2034 | USD 1.6 billion |
| Base Year for Estimation | 2023 |
| Historical Data | 2019 to 2023 |
| Forecast Period | 2024 to 2034 |
| Quantitative Units | USD million/billion for value |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
Type, Application, Region |
| Region Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa |
| Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
| Key Companies Profiled | 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. |
| Customization Scope | Available on Request |
The waterborne UV curable resin market is expected to garner a 14.6% CAGR from 2024 to 2034.
By 2024, the global waterborne UV curable resin market is likely to gain USD 401.7 million.
By 2034, the waterborne UV curable resin market valuation is likely to reach a sum of USD 1.6 billion.
The waterborne UV curable resin industry in the United States is likely to garner a 14.9% CAGR during the forecast period.
The urethane acrylate segment will gain immense popularity and develop with a 14.3% CAGR through 2034.
The waterborne UV curable resin is likely to be widely used in wood applications along with a 14.1% CAGR through 2034.
| Estimated Market Size (2025E) | USD 734.7 million |
| Projected Market Value (2035F) | USD 1557 million |
| Value-based CAGR (2025 to 2035) | 7.8% |
| Market Size, 2024 | USD 2,814.3 million |
|---|---|
| Industry Revenue, 2034 | USD 5,550 million |
| Value-based CAGR (2024 to 2034) | 7% |
| Estimated Size, 2021 (E) | USD 2,281.1 million |
|---|---|
| Projected Size, 2031 (F) | USD 4,445.5 million |
| Value-based CAGR (2021 to 2031) | 6.9% |
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Waterborne UV Curable Resin Market
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