UV Adhesives - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global UV Adhesives Market is accounted for $1.08 billion in 2019 and is expected to reach $2.60 billion by 2027 growing at a CAGR of 11.6% during the forecast period. Some of the key factors propelling the market growth include Enhanced performance for industrial application, rise in demand for compact electronic products, and high demand in flexible packaging applications. However, high cost of application machinery hampers the market growth. Moreover, enhancement and adoption of LED UV lamps in industrial application presents potential growth opportunities for the market.
Ultra Violet (UV) adhesives are adhesives which cure (i.e. toughen or harden by crosslinking) on exposure to UV light. It is a photochemical reaction that eliminates the need for heat or solvents for curing. This method offers various advantages over conventional curing methods such as rapid cure speed and easy application. Enhanced physical properties such as high bond strength, abrasion resistance, and chemical resistance offer better product performance than alternatives.
By application, transportation segment is anticipated to grow at the significant rate during the forecast period, due to the use of other adhesives such as structural glue, anaerobic glue etc. which is comparatively cheaper than UV glue. Transportation sectors have also gradually emerged as prominent end-use industries, wherein UV adhesives are increasingly being used.
On the basis of geography, Asia Pacific is the significant growing market due to brisk growth in the medical and electronics industries. This is driven by emergence of this region as a manufacturing hub due to cheap raw material and low labor costs. Various government initiations such as ‘Digital India’ and ‘Make in India’ program will support various electronic industries to setup their plants in India.
Some of the key players in UV Adhesives Market include The Dow Chemical Company, Cartell (UK) Ltd, Ashland, Inc., Sika AG, 3M Company, Henkel AG & Co. KGaA, DELO Industrial Adhesives, Dymax Corporation, H.B. Fuller Company, Permabond LLC, Loxeal S.r.l, Beacon Adhesives, Inc., BASF SE, Bostik, Epoxy Technology, Inc, Panacol-Elosol GmbH, and Excelitas Technologies Corp.
Resin Types Covered:
• Other Resin Types
Sales Channels Covered:
• Manufacturer/Distributor/Service Provider
• Glass Bonding
• Packaging & Laminating
• Industrial Assembly
• Electrical & Electronics
• Medical & Pharmaceuticals
• Optical Field
• Pressure Sensitive Applications
• Other Applications
• Sealant Adhesion UV Adhesive
• Structural UV Adhesive
• Pressure Sensitive UV Adhesive
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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