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UV Adhesives Market Size, Share and Industry Analysis Report by Product (Silicon, Acrylic, Polyurethane, Epoxy) and End-user (Medical, Electronics, Automotive, Cosmetic, Industrial Assembly), Regional Outlook, Application Growth Potential, Competitive Landscape & Forecast, 2021 – 2027

  • Report ID: GMI1201
  • Base Year: 2020
  • Report Format: PDF

Industry Trends

UV Adhesives Market size was valued at USD 652,926.3 thousand in 2020 and is estimated to exhibit over 10% CAGR from 2021 to 2027. The flourishing medical industry in the U.S. and Europe is likely to have a positive influence on the global market and will aid its growth in the coming years. In terms of volume, industry size will register 9.2% CAGR through 2027, with a targeted valuation of 42,366.2 Kilo Tons.
 

uv adhesives market outlook

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UV adhesives can be obtained in both acrylate and epoxy resin formulations, which form strong and reliable bonds when exposed to special UV light sources. These adhesives are ideally preferred for manual assembly processes as do not cure until exposure to light. Due to this factor, fine adjustments to the alignment can be made before bonding. High stability and transparency render UV adhesives a reliable material for manufacturers in various applications such as metal, glass, ceramic, rubber, and plastic substrates.
 

For certain applications, cure time is critical to ensure a high degree of accuracy. For instance, the electronics, optical, and medical industries heavily rely on UV adhesives owing to the nature of manufacturing. In medical applications, it has several usages such as intravenous tube bonding, filters, catheters, syringes, and hypodermic needles, among others.
 

Moreover, the manufacture of medical equipment, such as intravenous catheter apparatus, butterfly device, oxygenator, accumulator, diagnostic equipment, respiratory system, and others, is also dependent on UV adhesives. Furthermore, the augmenting medical sector is significantly fueling the consumption of these adhesives during the forecast timeframe.
 

The coronavirus outbreak is hampering the market development

The availability of product substitutes in conjunction with the COVID-19 outbreak is impeding the UV adhesives market growth. Government-imposed lockdowns and mobility restrictions have led to the suspension of several manufacturing operations; hence, production facilities have observed a period of abeyance for a brief duration. However, these factors have significantly disrupted the industrial supply chain, which resulted in the market downfall in 2020 and thereby, affecting the revenue generation of many industry participants.
 

Acrylic-based UV adhesives dominate the demand

uv adhesives market by product

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Acrylic-based UV adhesives will hold over 70% revenue share by 2027 owing to the large-scale application of acrylic UV adhesives in electronic assembly. The silica segment is estimated to emerge as the fastest-growing market over the projected timeline due to the extensive usage of silica-based UV adhesives in dentistry and amalgam filling replacement. Moreover, the applicability of silica adhesives in a wide range of sectors, such as construction, electrical & electronics, aerospace, and automotive, will further spur the UV adhesives market growth in the coming years.
 

The medical sector to fuel the consumption of UV adhesives

uv adhesives market by application

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The medical end-user sector from UV adhesives market will generate a demand for over 3.5 kilo tons by 2027 due to the high manufacturing standards of medical devices and equipment, it is crucial for manufacturers to adopt a precise production process. This makes UV adhesives a favored bonding element during assembly processes. The product is used extensively in the medical industry in manufacturing various diagnostic and other equipment. Due to the increasing number of chronic diseases across the globe, the demand for such equipment and instrument is expected to increase over the forecast time spell.
 

Asia Pacific to dominate the regional product consumption

uv adhesives market by region

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Asia Pacific is the leading revenue-generating region and will generate over USD 600 million in global UV adhesives market share by 2027 due to the presence of several electronics manufacturers in the region. The product is used for assembling various electronic components and countries including China, Japan, South Korea, Taiwan, and India are electronic manufacturing hubs in the world.
 

Various companies have their manufacturing plants in this region. The aerospace and defense sectors also hold immense potential in the region, which will prove beneficial for market expansion. Additionally, countries are focusing more on the indigenous manufacturing of such products and hence the usage of UV adhesives for such applications is expected to increase, thereby creating an optimistic outlook.
 

Industry participants to foster growth on the account of strategic initiatives

Major players in the global UV adhesives industry are actively adopting various developmental strategies to reinforce their market foothold and gain a competitive edge. These initiatives may include mergers, acquisitions, new product launches, geographical expansion, production capacity expansion, and others. For instance, in 2018, BASF SE established a collaboration agreement with Gustav Grolman GmbH & Co. KG to market its products in European countries including Spain, Italy, and Portugal. Such actions are likely to intensify the market competition, thereby generating lucrative opportunities for those involved in product development and improvement.
 

Some of the key UV adhesives industry players include 3M, H.B. Fuller, Henkel, Permabond Engineering Adhesives, BASF SE, DowDuPont (Dow Corning), Epoxy Technology, Inc., Cartell UK Ltd., Excelitas Technologies Corp., Panacol-Elosol GmbH, DELO Industrial Adhesives, Dymax Corporation, Ashland Inc., Sika AG, and Avery Dennison Corporation, among others.
 

The UV adhesives market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in tons and revenue in USD Thousand from 2021 to 2027 for the following segments:

By Product

  • Silicon
  • Acrylic
  • Polyurethane
  • Epoxy
  • Others

By End-user

  • Medical
  • Electronics
  • Automotive
  • Cosmetic
  • Industrial assembly
  • Others

The above information is provided on a regional and country basis for the following:

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Indonesia
    • Malaysia
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Kuwait

 

Authors: Kiran Pulidindi, Akshay Prakash

Frequently Asked Questions (FAQ) :

UV adhesives market is slated to surpass $1.25 billion by 2027 and will exhibit a CAGR of over 10% from 2021 to 2027 with the growing medical industry in the U.S. and Europe.

Acrylic-based UV adhesives market will capture a revenue share of over 70% by 2027 with the increasing application in sectors including construction, electrical & electronics, aerospace, and automotive.

Medical end-user segment will generate a demand for over 3.5 kilo tons by 2027 on account of the high manufacturing standards of medical devices and equipment requiring precise production process.

Asia Pacific will record valuation of over USD 600 million across global UV adhesives market by 2027 owing to the strong presence of numerous electronics manufacturers in the region.

The key UV adhesives industry players include 3M, H.B. Fuller, Henkel, Permabond Engineering Adhesives, BASF SE, DowDuPont (Dow Corning), Epoxy Technology, Inc., Cartell UK Ltd., Excelitas Technologies Corp., Panacol-Elosol GmbH, DELO Industrial Adhesives, Dymax Corporation, Ashland Inc., Sika AG, and Avery Dennison Corporation, among others.

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Premium Report Details

  • Published Date: Dec 2021
  • Companies covered: 15
  • Tables & Figures: 416
  • Countries covered: 21
  • Pages: 200

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