Curable Materials Market Forecast to 2023
Curing (UV) is a process during which a chemical reaction or physical action takes place, resulting in a harder, tougher, or more stable linkage of a materials such as an adhesive bond. When the additive are activated by ultraviolet radiation the process is called UV cure. The process is particularly undertaken for polymer material by cross linking of polymer chains. Curable material founds its diverse applications in bonding of metal, glass, adhesive and industrial manufacturing. Vulcanization is a prominent curing process specifically used for rubber materials. Over the past few years curable material market was growing progressively driven by bonding applications. Due to high strength properties of end product curing materials are highly favorable in industrial manufacturing. Factor such as tire manufacturing wherein vulcanization process largely used, which is driving a demand for curable materials globally. Automotive industry has a massive demand for tires and is likely to grow significantly by driving curing material demand. Industrial and commercial coating applications also contributing equally in the global market.
Curable Materials Market- Top 10 Global key Players & Their Strategy
Key players of the global curable materials are 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.
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Curing process is particularly undertaken for rubber and polymer by cross linking polymer chains and are activated by ultraviolet radiation. Curable materials have found its applications in coating, adhesive bonding, sealants, general electronics, printing, industrial, plastic bonding, and others. Industrial and commercial coatings application is a prime market for these materials. Furthermore, plastic bonding applications set potential growth in near future owing to increasing application of these materials in plastic manufacturing.
Curing (UV) is a process during which a chemical reaction or physical action takes place, resulting in a harder, tougher, or more stable linkage of a materials such as an adhesive bond. When the additive are activated by ultraviolet radiation the process is called UV cure. The process is particularly undertaken for polymer material by cross linking of polymer chains. Curable material founds its diverse applications in bonding of metal, glass, adhesive and industrial manufacturing. Vulcanization is a prominent curing process specifically used for rubber materials.
The global curable Materials market is majorly segmented on the basis of type, application, and regions. Market segmentation based on type include rubber, polymer and others. Curable polymer is a prominent segment accounted for majority of global market shares closely followed by curable rubber. The polymers derived after the curing process exhibit high strength properties and are highly favored in bonding application on metal, glass, adhesive, and in industrial manufacturing. Consequently, there is a relatively higher demand for such polymers as compared to rubber. Most of these polymers are single component system that require no mixing and cure rapidly at room temperature upon exposure to a UV light source as compared to conventional polymers. Curable rubber, on the other hand, is an emerging segment and is likely grow in terms of global shares over the forecast period.
Curable Materials Market – Regional Analysis
Asia Pacific emerged as global leader in the market curable material market and accounted for 43% of global market shares as of 2016. By being a largest consumer, the region will be dominating global market over the forecast period as well. China, India, Japan, and South Korea are the key growth driving markets in this region driven by rapid urbanization and economic growth. China, particularly, represents huge automotive manufacturing base and driving significant demand for tires. This in turn has encouraged substantial regional demand for curable materials specifically, curable rubber over the past few years. By having several numbers of small scale curable material manufacturer, India represents dynamic growth in the forthcoming years.
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Moreover, curable materials are highly opted for bonding of metals, glass, plastic, adhesive and other industrial applications, which resulted into additional demand. On the other hand, driven by consumer and industrial demand, plastic manufacturing is growing significantly with yearly double digit moderate growth. This in turn has generated substantial demand for curable materials and it is expected to grow progressively over the forecast period. Although, the market growth is restrained by instability in the prices of raw material, which could be the key challenge for top producers in the years to come. The global curable material market is anticipated to have healthy growth prospects due to increasing application area of curable material. Additionally, increasing urbanization in emerging economies also expected to develop growth factors over the forecast period.
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