SAN FRANCISCO, October 12, 2016 /PRNewswire/ --
The global ultraviolet (UV) curable resins market is expected to reach USD 4.67 billion, according to a new report by Grand View Research, Inc. Rise in the industrial sector especially in Asia Pacific is one of the major driving factors for the growth of UV curable resins market.
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Increasing concern regarding growing VOC emissions has resulted in the development of new low emission products. UV curable resins emit minimal to zero VOCs and are not volatile in nature. These resins produce less shrinkage, the line of sight curing and provide many advantages over traditional methods. Development of renewable raw materials for manufacturing these curable resins is anticipated to drive the market.
UV curable resins are widely used in wood coatings, graphics art, automotive and industrial application. With the increase in industrialization across the globe, there is a surge in the demand for eco-friendly products. Manufacturing companies across the world are focusing and investing in R&D activities for the innovation of new technologies to produce environmental - friendly products.
Ultraviolet curable resins in industrial application are expected to be the fastest-growing segment and are anticipated to hold over 40% of the total demand by 2024. Growth in the construction and electronics & electrical industry particularly in emerging markets of Asia Pacific & Latin American is expected to drive the UV curable resins demand in industrial segment.
Browse full research report with TOC on "Ultraviolet (UV) Curable Resins Market Analysis By Composition (Monomers, Oligomers, Photoinitiator), By Application (Wood Coatings, Graphics Art, Industrial, Automotive) And Segment Forecasts To 2024" at: http://www.grandviewresearch.com/industry-analysis/uv-curable-resins-market
Further key findings from the report suggest:
Grand View Research has segmented the ultraviolet (UV) curable resins market on the basis composition, application and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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