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Europe TCD Alcohol DM Market will be growing demand in the optoelectronics

Author : Ronak Bora | Published Date : 2019-04-05 

Global TCD alcohol DM market in Europe is anticipated to be valued around USD 6 million by 2024. This region is characterized by rising demand for optoelectronics which will drive the industry growth during the forecast timeframe.

High demand for electronic products in countries like India, China, South Korea, Japan, etc. and shifting of electronic production bases to these countries will transform Asia Pacific region into the most significant market for TCD alcohol DM market. This region is anticipated to register a growth of around 7.5% CAGR and this growth will be augmented by rapidly developing electronics industry.

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TCD Alcohol DM market will be chiefly driven by the rising demand of UV cured inks as the product is employed in the synthesis of dimethacrylates which is then used in these inks for their wetting properties. Eco-friendly nature of UV cured inks gives them a competitive edge over other petrochemical based alternatives. The demand for these inks is anticipated to increase because of their extensive usage in various printing processes such as flexographic, inkjet, gravure, etc. Revenue generated by the UV cured ink industry in 2015 was more than USD 1.5 billion and is estimated to exceed USD 4 billion in 2024. The industry will likely witness a growth of more than 10% CAGR and this will propel the global market during the forecast timeframe.

TCD alcohol DM market will also be augmented by the growing demand for UV cured adhesives in flexible packaging industry. The product is widely used in synthesis of UV cured adhesives. Growing popularity of e-commerce along with developments in the logistics sector will contribute to the flexible packaging industry which in 2015 generated a revenue exceeding USD 80 billion. This industry is anticipated to grow by a CAGR above 4% and will likely be valued over USD 110 billion in 2024 and this growth will propel the global market during the forecast timeframe. The technology applied in the products manufacturing is patented by Oxea GmbH and any new market participants will have to buy the technology from this company. This will restrict the entry of new players and may hinder the global TCD alcohol DM market until the patent expires.

Global TCD alcohol DM market can be categorized into three application segments including UV cure coatings, UV inkjet inks, and other application segment. UV cure coatings segment is anticipated to be valued above USD 9 million by 2024 growing with more than 7% CAGR. The growth of this segment will be boosted by the increasing demand for portable electronic gadgets and devices and innovations in the electronics sector. UV inkjet inks segment , in terms of volume, is anticipated to be more than 40% of the overall market. This segment will witness growth due to the products demand from the printing industry. Gradual substitution of petrochemical based inks with UV cured inks will augment the segments growth and propel the global market during the forecast period.

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Global TCD alcohol DM market is highly monopolistic, with Oxea corporation owning the patent of the process used to manufacture the product. Any new market entrants will have to purchase the patent to be able to manufacture the product and this have limited the amount of competition in the market. However, after the expiry of the patents, the TCD alcohol DM market will likely turn highly competitive.

 

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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