Hexa Research
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than other conventional solutions. The aforementioned points drive the market growth
over the forecast period.
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https://www.hexaresearch.com/upcoming-research/ultraviolet-uv-curable-resinmarket
Many other resins such as epoxy resins, polyester resins and acrylic pouring medium
are becoming unpopular as they require for curing and has poor UV resistance,
especially in US and Europe region where government is strict about the emission
norms. The growing use of ink in packaging applications is to drive the market in next
eight years. UV curable resins are now being used in field applications as well which
has lead in improvements in curable equipments and technological innovation in
finished products leading to the market growth. Moreover, growing electronics market is
also to have a positive impact as these resins provides good abrasion resistance,
adhesion and non-yellowing properties to electronic components.
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.
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.
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