MarketsandMarkets’ report, “UV-Curable Resins Market by Composition (Oligomers, Monomers, Photoinitiators, Additives), Chemistry (Non-Acrylated Oligoamines, Acrylate Oligomers), Application, Technology, End-use Industry and Region – Global Forecast to 2029,” estimates the market is expected to reach $9.31 billion in 2029 from $6.48 billion in 2024, at a CAGR of 7.5% from 2024 to 2029.

The demand for UV-curable resins is driven by growing investments, rising advancement in technologies, growing applications, and increasing focus on sustainability. UV-curable resins have been increasingly adopted in various end-use industries due to growing focus on minimizing volatile organic compounds.

UV-curable inks are gaining popularity for wide format printers. These inks are specially formulated, and once printed onto a substrate, they are dried on the surface with intense UV light. Instead of heat, UV light dries the ink, which only takes a split second.

UV-curable inks are particularly useful for printing onto various substrates with reduced drying times and high-quality finishes. It is used for creating labels or packaging items, for creating signage and digital graphics on a typical and unusual substrate, and to print high-quality digital images onto a variety of personalized items such as glass bottles, phone cases, golf balls, and keyrings.

The demand for UV-curable inks is due to their instant curing, high print quality, stability, adhesion, scratch resistance, light fastness, color density, and no VOCs. Ongoing R&D for new formulations along with customized solutions opens up more further opportunities for producers as they can focus on catering to various niche markets.

The paper and packaging industry segment is expected to have largest share during forecast period. The paper and packaging industry dominated the market in terms of value. UV-curable resins are becoming widely utilized for various applications including coatings, printing inks, adhesives and sealants. In 2023, Asia Pacific accounted for the largest share in the global UV-curable resins market, in terms of value.