Photocure Resins Market: Overview
Photocure resins fall under the polymer compounds family, which acts like a primary component for the electronics and printing industry. These high performance materials are used as a shield or as protective layers for a wide range of objects coupled with exclusive added advantage, which provides resistance from corrosion, weather, stain and hardness. The formulation process for photocure resins follows a range of techniques, which may be solvent-based or water-based. Besides, the synthesis process for photocure resins depends upon several parameters, which are based on location, purpose, base materials, etc.
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Photocure Resins Market: Dynamics
Demand for photocure resins is primarily driven by the rapidly growing electronics sector in the Asian region. Owing to the rising demand for curing technologies in the electronic industry, there has been a shift in the preference for resins under the curing actions with the help of ultraviolet light, electron beams, heat or peroxides. Besides, with trending application of photocure resins in 3D printing, the market is expected to experience a significant growth in the coming years. Furthermore, photocure resins are produced in a liquid state with appropriate curing actions for various end-use applications. Liquid photocure resins will cater to state-of-the-art UV, LED and electron beam liquid resins, which cater to performance benefits and high efficiency to photo curing dedicated to high-end applications like electronics where they are utilized in the design and production of printed circuits, as well as tablet, smartphone and television screens.
Photocure Resins Market: Segmentation
The global photocure resins market can be segmented on the basis of end-use applications and region. On the basis of end-use applications, the global market for photocure resins is segmented by electrical & electronics, 3D printing, adhesives, coatings and inkjets printing. These photo cure resins produce state-of-the-art LED, UV, and electron beam liquid resins, which cater to high efficiency and performance assistances to photo curing systems incorporated for their premium end applications, such as electronics where they are utilized in the manufacturing and design of printed circuits, as well as tablet, smartphones and television screens. The rapid growth in the electronics sector has a significant effect on the photocure resins demand, owing to the rising demand for efficient and effective resins. On the other hand, with advancement in the printing industry, applications of photocure resins, specifically for 3D printing, is anticipated to gain traction in the coming years.
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Photocure Resins Market: Regional Outlook
The global photocure resins market can be segmented with respect to the regions, such as North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA (Middle East and Africa). East Asia is expected to have a significant market for photocure resins owing to the rising demand for curing technologies in the various end-use industry. After East Asia, South Asia is the second largest market for photocure resins owing to the requirements for advanced and sustainable technologies for adhesives and printing markets. Latin America market for photocure resins is also surging at a considerable rate due to rapid demand for adhesives and advanced printing technologies. With overall development of curing resins across the globe, end-use applications will continue to create enormous opportunities for the market over the coming years.
Photocure Resins Market: Key Player
Prominent player in the global photocure resins market is Arkema S.A. Arkema is further expected to strengthen its market positions by offering loyalty schemes and competitive prices. Several small-sized emerging players are expected to gain lucrative traction presence in the photocure resins market globally. Being the only market player in the photocure resins business, Arkema is focusing on expanding its manufacturing capabilities and strengthening its existing product portfolio by investing in research & development.
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