UV Cured Resins Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 - 202
According to a new market report published by Credence Research "UV Cured Resins Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 - 2022," the UV cures resins market was valued at US$ 2.9 Bn in 2014, and is expected to reach US$ 5.6 Bn by 2022, expanding at a CAGR of 9.0% from 2016 to 2022.
Browse the full UV Cured Resins Market by Compositions, Mode of Applications and End-Users - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022 report at https://www.credenceresearch.com/report/uv-cured-resins-market
Market Insights
UV cured resins are polymers which harden quickly when exposed to sunlight. The resin is thick like honey when kept in indoor light which makes it possible for users to work with items or materials which need to be cured. After curing the UV cured resins is dense than its original state because of its resin chemistry. Resin chemistry is used by manufacturers to meet the needs of the customers. In this case both ultraviolet light and visible light are used which are known as curing mechanisms for resin chemistry. Ultraviolet light do possess potential hazards and hence, users working with ultraviolet light compulsory have to wear protective tools.
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Electronic industry is considered to be one among the vital industries worldwide. It is the major sector contributing to strong growth of global U cured resins market. UV cures resins are used on a large scale for various applications such as mobile phones, laptops, game console coatings and automobiles among others. Rapid growth in UV cured resins market is observed due to the increasing capacity of expenditure on electronics by the consumers. This in turn is leading to high demand for other components in the electronic industry.
China is the considered to be the major market for electronics. In addition, increasing demand for UV curable inks is also one among the driving factor for growth of global UV cured resins market. Packaging industry is reported to have a significant impact on the growth of UV cured resins market. UV cured resins are majorly used for label printing in the packaging industry.