Acrylic adhesives will remain the first choice for UV cured adhesives, accounting for over 40% of sales through 2030
NEW YORK, September 20, 2021 / PRNewswire / – According to Fact.MR’s analysis, the global ultraviolet (UV) cured adhesives market is poised to experience impressive growth through 2030. In response to increasing demand for bonding solutions High performance in major industries such as medical, electronics, and automotive, the market is expected to grow at a robust CAGR during the forecast period 2021-2031.
In recent years, UV cured adhesives have gained popularity in the radio frequency identification (RFID) inlays industry, due to the growing trend of using fast curing adhesives to cope with chains. sturdy mounting.
In addition to this, the increasing use of UV cured adhesives in various electronic devices such as computer motherboards, smartphones, boards and the like is expected to accelerate the growth of the market.
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The UV Cured Adhesives market has grown at a CAGR of 6.7% over the past five years. Sales have also fallen due to the COVID-19 outbreak. Nonetheless, the growing applications in the medical industry in the manufacture of medical equipment such as electrocardiograms (ECGs), ventilators and the like are expected to increase sales in the market by 2.1 times through 2030.
According to Fact.MR, acrylic resin is expected to dominate the resin types segment, accounting for almost 40% of the market share through 2030. The segment owes its dominance to the higher penetration of this product category in the world. and their profitability.
“Major manufacturers are emphasizing innovation and technological developments to use light emitting diodes (LEDs) instead of UV radiation. This should create growth opportunities for the market ” says a Fact.MR analyst.
Key takeaways from Fact.MR UV cured adhesives Market research
- Driven by the increasing advancement of electronics and technology in Germany and the United Kingdom, Europe is expected to account for 35% of the global demand share.
- The United States is estimated to dominate the North American market for UV cured adhesives, due to the high demand for medical equipment such as ventilators and ECGs in the country.
- East Asia is expected to capture the highest share of the global market by 2031, owing to increased production and sales of electronic devices in countries like China and Japan.
- On the basis of applications, the demand in the packaging industry is expected to increase significantly by 2030.
- Electronics industry applications are expected to capture around 40% of global demand by the end of 2030.
- The growing demand for medical equipment such as ventilators and ECGs across the United States and China is driving the demand for UV cured adhesives.
- The increasing use of UV cured adhesives in the manufacture of computer motherboards and smartphones is accelerating the growth of the electronics segment.
- The implementation of government regulations such as the Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) and the Significant New Alternatives Policy (SNAP) regarding the use of environmentally friendly products in the manufacturing process hinders the growth of the market.
- The volatility in the cost of raw materials such as epoxy and polyurethane is a challenge for the growth of the UV cured adhesives market.
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According to Fact.MR, the UV cured adhesives market highly fragmented with Henkel, 3M, With Denka and Delo being the only top tier 1 players. These companies are estimated to account for over 40% of the global share in 2031.
Major landscape players are adopting organic strategies like new product launches and product approvals to expand their product portfolio and revenue share. For example,
- In 2020, Dymax, one of the world’s leading manufacturers of advanced light-curing adhesives, turned the coronavirus outbreak from a disaster into an opportunity and leveraged UV-cured medical adhesives for ventilator assembly lines. in the USA.
- In October 2019, Panacol, a German manufacturer of high-tech industrial adhesives and UV adhesives, has announced the launch of its new fluorescent orange UV adhesives for bonding plastics. The product is certified to meet United States Pharmacopoeia Class VI and National Formulary (USP-NF) standards, making it an optimal solution for bonding medical devices.
Major players in UV Cured Adhesives industry featured by Fact.MR are:
- Dymax Company
- ITW Devcon
More valuable information on UV Cured Adhesives Marlet
Fact.MR in its new report offers an unbiased analysis of the global UV Cured Adhesives market, analyzing forecast statistics to 2020 and beyond. The survey reveals growth projections in the UV Cured Adhesives market with detailed segmentation:
By resin type
- Glass bonding
Key questions addressed in the UV cured adhesives Market report
- The market study also highlights the projected sales growth of the UV Cured Adhesives market between 2020 and 2030.
- Report provides insight on demand outlook for UV Cured Adhesives 2020-2030
- Analysis of UV Cured Adhesives market share of key companies in the industry and coverage of strategies such as mergers and acquisitions, collaborations or partnerships etc.
- The UV Cured Adhesives Market analysis identifies key growth drivers, restraints, and other forces impacting dominant trends and evaluating the current market size and forecast and technological advancement within Of the industry
Explore Fact.MR’s coverage in chemicals and materials –
Adhesives Market– The use of high performance adhesives in interior and exterior automotive applications has fueled the expansion of the adhesive market. Adhesives are finding more and more uses in the construction industry, which has contributed to the growth of the market. The demand from the packaging industry has continued to grow. Adhesives will be used more and more in the industry as consumer preferences for flexible and low cost packaging solutions evolve. The market has seen a significant increase in research and development spending.
Silicone Adhesives Market– The market for silicone adhesives will grow in response to the increased demand for sealants of excellent chemical and physical qualities in the construction, automotive, electrical and electronics sectors, among others. Silicone adhesives are increasingly used for bonding metal structures, exterior interior trim, and glass bonding, which is expected to help the market gain ground in the near future. Silicones also have exceptional adhesion to car wraps and films. Due to their superior conductive qualities, silicone adhesives will continue to gain popularity, especially in the electronics industry.
Two-Component Adhesives Market– Two-component adhesives are well known for their strong adhesion and heat resistance, and they are used in a variety of applications, including automotive and construction. Companies in the market are capitalizing on the light and strong trend of the automotive industry to drive sales of revolutionary two-component adhesives. The market for two-component adhesives is growing due to the increased demand from the construction industry. Two-component adhesives have replaced traditional binding and adhesion technologies such as mechanical pins, riveting and welding, resulting in significant growth.
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