Curable Materials Market is expected to grow at 7.10% CAGR from 2020 to 2030
The process makes curable materials by curing through UV chemical and physical reaction. The growth in the market can be attributed to increasing demand for biodegradable agricultural products, chemical agents and advanced composites from various industrial segments such as automotive, metallurgy, aerospace & defense, chemicals and plastics. Moreover, increased focus on green chemistry has led to increased research investments in this industry segment.
In addition, new technologies are driving innovation in this sector, resulting in higher adoption rates of these materials by customers. There is a growth in the market need for curable materials.
Several factors can affect the growth of the Curable Materials Market. These include technological advances, increasing demand from various industries, and expanding applications for these materials across multiple sectors.
One key factor driving the market is technological advancements; This includes new methods for synthesizing and characterizing curable materials, which are used to develop more efficient manufacturing processes and improve material properties. In addition, researchers are working on developing tires based on curable materials technologies that will enable them to create smart surfaces or self-healing products.
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Another important driver of the market is increased demand from various industrial sectors. Plastic manufacturing has been a major contributor to the growth of the Curable Materials market. The demand for plastic materials is increasing due to eco-friendly and durable products; plastic can be reused multiple times and does not rust or degrade like other materials.
Market Segment
The major segment for curable market materials are divided into three distinct types:
Based on the type curable market includes rubber. Polymer and other varieties.
Based on application, the global market is divided into the coating or adhesive bonding type or sealants, printing, packaging, general electronics or printing, plastic bonding, and industries and regionally, the growth market is based in North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa.
The audience for the market includes:
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Regional Analysis
Asia Pacific region is the leading country for sales of curable materials 1. The country is expected to witness high growth owing to increasing demand from the manufacturing base, leading to a huge tire manufacturing demand.
Other key regions include China, India, Japan, and South Korea. Materials like coatings and adhesives are infusion the market and have a pivotal role in the regional market. Europe makes a second place in the manufacture of curable materials.
UK, Netherlands, Spain, Italy, and Germany. The region’s polymer industry is expanding rapidly, fueling regional demand. On the other hand, North America has experienced slow growth over the past few years and is a comparatively smaller market for curable materials. Regulations governing the manufacture of plastic have, to some extent, slowing the expansion of this sector.
Key Players
Rockwell Automation, Inc. (U.S.), Rubber King Tyre Pvt. Ltd (India), Green Rubber Group (Malaysia), KEYLAND POLYMER MATERIAL SCIENCES (U.S.), Arnette Polymers LLC (U.S.), Dymax Corporation (U.S.), Shin-Nakamura Chemicals Co. Ltd (China) and others.
Industry News
8-9-22
The global UV-curable resins market is predicted to rise due to demand in several end-use industries, including automotive, graphics, industrial, and wood coating. Additionally, the market will develop as demand for eco-friendly curable resins increases.
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