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Other growth drivers are growing demand for resins in various end-use industries and manufacturers
expanding the product portfolios related to these resins. Further, rapid industrialization in Asia-Pacific and
Latin American regions demanding for coatings is to lead to market growth as well
Browse Details of Report @ https://www.hexaresearch.com/research-report/ultraviolet-uv-curable-resin-market
However, fluctuating crude oil prices, need for technological innovations in UV resin and reducing
export demand pose a threat to this market. Its application limitation, health effects owing to UV rays
exposure and continuous scrutiny of petrochemical based resins by regulatory agencies pose a major
challenge to the growth of UV resin market. Also, this product is not attractive in price competitive
market.
Increasing penetration in 3D printing and metal coatings market is to offer opportunities in this market.
As market demand for 3D material is growing, it is to have positive impact on resins market as well.
Moreover, potential markets with low capacities and diversifying target segments also provide
opportunities to UV curable resin market.
The industry can be segmented on the basis of composition, application and end-user. On the basis of
composition the market is divided into monomers, oligomers and photoinitiators. On the basis of
application, the market includes inks, coatings and adhesives. On the basis of end users, the industry
is divided into graphic arts, industrial coatings and electronics. Industrial coatings dominated the
market in the recent past due to its various applications in plastics, paper, wood and glass
manufacturing.
North America being characterized by advanced processing technologies has a high demand for
adhesives and coating. US being a major processed food hub require more of UV resins for packaging
applications which is to fuel the growth of this market over the forecast period. Declining
industrialization in Western Europe is to have a negative impact on European resin’s market. Asia-
Pacific on account of its growing automobile sector has increased the consumption of resins in the
near past. China dominated the market of UV resins followed by Japan. This market is to witness a
significant growth over the forecast period owing to electronic products growth.
Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/plastics-polymers-
and-resins-industry
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