The UV Adhesives Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s UV Adhesives Global Market Report 2024, The uv adhesives market size has grown strongly in recent years. It will grow from $2.08 billion in 2023 to $2.26 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to demand from electronics industry, stringent environmental regulations, increased automation, growing importance of green bonding solutions, expanding applications in medical devices.
The uv adhesives market size is expected to see strong growth in the next few years. It will grow to $2.98 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to emerging applications in renewable energy, increasing focus on electric vehicles, rising demand in packaging industry, shift towards eco-friendly solutions, global economic trends. Major trends in the forecast period include medical industry innovations, continued technology evolution, technology advancements, advancements in curing technologies, growing emphasis on bonding dissimilar materials.
Growing demand for UV adhesives in the electronic industry is expected to propel the growth of the UV adhesives market going forward. The electronic industry refers to a broad and dynamic sector of the global economy that encompasses the design, development, manufacturing, and distribution of electronic components, devices, and systems. UV adhesives offer exceptional precision in joining various electronic components, ensuring reliable and long-lasting performance in a wide range of devices. For instance, in January 2023, according to the annual financial report 2022 published by LG, a South Korea-based consumer electronics company, LG earned its highest annual revenue ever, an increase of 12.9% from 2021, when sales for the first time exceeded $52.70 billion. The revenue for the LG Home Appliance & Air Solution Company in 2022 was $22.5 billion, an increase of 10.3% from the previous year. Therefore, the growing demand for UV adhesives in the electronic industry is driving the growth of the UV adhesives market.
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The uv adhesives market covered in this report is segmented –
1) By Resin Type: Acrylic, Cyanoacrylate, Epoxy, Silicone, Polyurethane, Other Resin Types
2) By Application: Pressure Sensitive Applications, Packaging And Laminating, Wood-Working, Assembly, Other Applications
3) By End-User: Medical, Electronics, Automotive, Furniture And Interior Design, Packaging, Other End Users
Major companies operating in the UV adhesives market are increasing their focus on introducing specialized one-step UV cure epoxy adhesives to gain a competitive edge in the market. A specialized one-step UV cure epoxy adhesive is a type of adhesive that combines the benefits of epoxy adhesive properties with UV curing technology in a single step. It cures rapidly when exposed to UV light, creating a strong and durable bond, making it suitable for applications where quick, reliable bonding is essential. For instance, in July 2023, Henkel AG & Co. KGaA, a Germany-based chemical company, launched Loctite Ablestik NCA 01UV, a one-step cure active alignment UV adhesive that can be cured in a single step with just three seconds of UV LED light exposure. This circumvents the need for oven curing, which saves time and energy and reduces CO2 emissions. The adhesive reaches its full performance and final bond strength with seconds of UV LED irradiation during the fixing step. Loctite Ablestik NCA 01UV is designed specifically for the assembly of high-resolution advanced driver assistance systems (ADAS) cameras and lidar modules, making it an ideal solution for the automotive industry.
The uv adhesives market report table of contents includes:
- Executive Summary
- UV Adhesives Market Characteristics
- UV Adhesives Market Trends And Strategies
- UV Adhesives Market – Macro Economic Scenario
- Global UV Adhesives Market Size and Growth
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- Global UV Adhesives Market Competitive Benchmarking
- Global UV Adhesives Market Competitive Dashboard
- Key Mergers And Acquisitions In UV Adhesives Market
- UV Adhesives Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- BASF SE
- Dow Inc.
- Mitsubishi Chemical Holdings
- 3M Company
- Henkel AG & Co. KGaA
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