UV Adhesives Market, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024
Report ID: GMI1201
UV Adhesives Market size expects significant gains owing to strong application outlook in construction, transportation and packaging industry.
Acrylic UV Adhesives market size should witness steady gains as it is widely used as liquid form in carpentry and decoration work whereas in tape form it is used in clothing or fabrics. Additionally, they are used for high load transmission to replace mechanical joining methods.
Silicone UV adhesives market may witness significant gains over the foreseeable period. It offers flexibility and high heat resistance making them suitable for wide range of application in automotive, electrical, construction, and aerospace industries. It has excellent electrical properties and are used for sealing engines and gaskets for transportation industry.
Polyurethane UV adhesives market size expects an increase in demand as it offers flexible cuing time at room temperature. It also offers excellent bonding for ceramics, plastic, rubber, wood, and glass surfaces. It is expensive and used in load bearing and structural application owing to adjustable sealing temperature, and adherence properties.
North America, driven by the U.S. UV adhesives market size accounted for a significant chunk of the demand. Technology innovation and favorable government regulations should drive regional product demand.
APAC, led by South Korea, India, Japan, and China UV adhesives market expects highest gains owing to increasing application scope in medical, electronics, and glass bonding industry. China and Taiwan are major hubs for electronic components production.
Global medical device market size was valued at over USD 310 billion in 2015, with gains at over 6%. U.S. medical devices accounted for over 35% of the total demand in 2015. Strict regulations in China, Russia, Japan, and Brazil may challenge the industry growth. Rising geriatric population along with increase in diseases is likely to influence medical devices market size. Medical device adhesives are solvent free and cure upon exposure to UV light and these are certified to ISO 10993 and USP Class VI standards. UV adhesives can be used in catheters, respiratory devices, syringes and needles, oxygenators, tube sets and other disposable devices.
Global flexible packaging market size generated at over USD 145 billion in 2015, with gains at over 5%. Increase in food & beverage, agriculture, and household products packaging should drive industry growth. Flexible packaging UV adhesives comply with various food laws and regulations by FDA. Companies such as Dymax uses curable adhesives for plastic packaging, when exposed to visible light it cures and form structural bonds to PET, PVC, RPET, and A-PET packaging materials.
Global electronics market size may exceed USD 2.5 trillion by 2024. Asia Pacific electronics industry witness significant growth rate at 7% in 2015. UV adhesives for electronic industry are ideally suitable for assembly and circuit protection. The products are electrically insulating and are designed for various operations including encapsulation, conformal coating, bonding, keypad coatings, masking, and optical display bonding & lamination. These electronic devices are UL and MIL-I-46058C listed and IPC approved.
UV adhesives market size from glass bonding industry should grow owing to properties which include transparency and stability over climatic dynamics such as sunlight and humidity. They are suitable for glass furniture, glassware, and acrylic glass production and are also used in optical industry and medical technology.
Stringent regulations against VoC emission may put pressure on application industry and challenge industry participants to use and develop environmental friendly chemicals. High initial installation cost may pose threat to industry profitability and affect UV adhesives market price trend. However, manufacturing companies are focusing on enhancing product portfolio and introduce new products such as LED UV lamps which may create opportunities in the business.
Global UV adhesives market share is consolidated with key players operating are 3M Company, Henkel, BASF, Huntsman Corporation, and Dow Chemical. Other prominent companies include Bostik SA, H.B. Fuller Company, Ashland, and Avery Dennison Corporation.
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