USD 44.29 million
Curing Adhesives Market Size, Share, Growth Analysis, By Product(UV curing adhesives, moisture curing adhesives, and thermal curing adhesives), By Resin(Epoxy, silicone, polyurethane, acrylate), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2365 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
65
|Figures:
66
Curing Adhesives Market Insights
Curing Adhesives Market size was valued at USD 44.29 million in 2019 and is poised to grow from USD 46.68 million in 2023 to USD 71.10 billion by 2031, growing at a CAGR of 6% in the forecast period (2024-2031).
Curing adhesives are reactive materials which need chemical reactions for converting them from liquid to solid. The adhesives generally provide high strength, flexible to rigid bond lines that resist temperature, humidity, and others after getting cured. They possess a high range of elasticity and are compatible for bonding with high need to the finished product’s aesthetics. The curing adhesives are commonly used in the electronics manufacturing industry due to their properties and process advantages, which are perfect for the manufacturing needs that are required by the current electronic industry players, which includes environmental and health & safety demands, miniaturization, minimizing total product cost, and manufacturing yield improvement.
US Curing Adhesives Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Acrylate
Fastest Growth
Acrylate
Growth Rate
6% CAGR
Global Curing Adhesives Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Curing Adhesives Market Segmental Analysis
Global curing adhesives market is segmented based on the product, resin, and region. Based on product, the market is segmented into UV curing adhesives, moisture curing adhesives, and thermal curing adhesives. Based on resin, the market is segmented as epoxy, silicone, polyurethane, acrylate, and others. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Curing Adhesives Market Analysis by Product
Based on product, the curing adhesives market is segmented into UV curing adhesives, moisture curing adhesives, thermal curing adhesives. The moisture curing adhesive is currently holding the largest product segment. Automotive manufacturing was the major end-use category for the product segment according to the past records.
UV curing adhesives are, however, anticipated to register the highest growth rate as compared to others over the forecast period due to the high rate of applications in medical devices. The application of the product in the electronics and automotive sector for metal fabrication and metal bonding is also assumed to fuel the market growth. It is utilized in the automotive manufacturing sector for permanent effect on automobile parts or equipment.
Cross-linked materials cured with heat or combined heat & pressure are termed as thermal curative agents; where heat curing adhesives do not melt or flow when heated which raises the adhesion of the product to the substrate.
Curing Adhesives Market Analysis by Resin
Based on resin, the market is segmented as epoxy, silicone, polyurethane, acrylate, and others. Acrylate resins dominated the raw material segment in 2020 because of the various key features including the higher bonding power, adhesion, and temperature resistance related with the product lines. Minimal price, and higher flexibility of acrylic resin for UV remedial have increased the acrylate demand.
Polyurethane-based remedial bonding formulations are primarily applied for moisture prevention reasons due to the enriched moisture and temperature resistant property of the material. It, however, emerged as the second most consumed segment by the reason of its improved bonding properties with various materials including steel, floor plates, glass-fiber reinforced plastics (FRP), and others.
Global Curing Adhesives Market By Resin
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Curing Adhesives Market Regional Insights
Asia Pacific region held the largest share of the global curing adhesive market in 2021 and expected to retain the largest consumer due to the rising product utilization in construction and electronic industries in the region. Also, the demand in this region is expected to reach a net volume crossing 2,560 kilo tons by 2028.
The North America region is also expected to grow at a significant rate over the forecast period because of rising innovation and technological investments in the region. The stringent regulations regarding the usage of toxic chemical formulations in curative bonding agents in the region is further anticipated in driving the demand for naturally derived products over the forecast period.
Europe is expected to witness average growth rate because of certain stringent regulations by the government of the United Kingdom and Germany for the use of VOC-free raw materials to produce curing adhesive.
The MEA and Latin America are, however, anticipated to grow fast over the said forecast period on account of rising electronic and technological advancement, in countries like Brazil and South Africa.
Global Curing Adhesives Market By Region
- Largest
- Fastest
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Curing Adhesives Market Dynamics
Increasing Demand in Automotive Industry
-
Curing adhesives find wide use in the automotive sector for attachment and assembly applications. As the automotive industry continues to progress, there is a growing demand for insubstantial materials, enhanced fuel efficiency, and enhanced organizational integrity. Curing adhesives help attain these objects by bonding components organized and reducing the weight of the vehicle. Additionally, they offer vibration and noise dampening, conducive to a quieter and more relaxed driving experience.
Increasing Adoption in Electronics and Electronics Packaging
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The electronics industry depends on curing adhesives for various applications, including semiconductor packaging, printed circuit board assembly, and component bonding. The enlargement of electronic devices and the demand for enhanced routine require advanced adhesive solutions. Curing adhesives offer the electrical insulation properties, required reliability and heat resistance making them essential in the electronics sector.
Curing Adhesives Market Restraints
Stringent Laws to Hinder Market Growth
- Stringent regulations and emission control systems by various governing bodies are predicted to hamper the growth of the curing adhesives market during the aforementioned forecast period.
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Curing Adhesives Market Competitive Landscape
Global curing adhesives market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Curing Adhesives Market Top Player's Company Profiles
- KGaA
- Henkel AG & Co.
- H.B. Fuller
- Bostik SA
- 3M Company
- Jowat SE
- Dow Corning
- Tosoh
- Dymax Corporation
- Ashland Inc.
- BASF
Curing Adhesives Market Recent Developments
-
In June 2023, Dymax introduced the inaugural product in its Hybrid Light-Curable (HLC) adhesive series, known as HLC-M-1000. This innovative formulation, based on a patented technology, merges anionic and free radical chemistries to create a groundbreaking adhesive solution.
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In April 2023, Dymax introduced the 1045-M adhesive. This light-curable material, known as MD®, is specifically engineered for the purpose of adhering glass, stainless steel (SS), acrylonitrile butadiene styrene (ABS), and polycarbonate (PC) substrates commonly employed in the assembly of medical devices, such as syringes, single-use apparatus, and injectors.
-
In December 2022, Dow introduced a new iteration of its V PLUS Perform polyurethane technology for insulated metal panels, known as V PLUS Perform next, with the aim of enhancing its capabilities. This product integrates the excellent fire safety and energy efficiency characteristics of V PLUS Perform while incorporating customized low-carbon and circular ingredients to meet the specific requirements of the customer.
Curing Adhesives Key Market Trends
- The electronics manufacturing industry is using curing adhesives in many key areas such as wire and parts tacking, strain relief, tamper-proofing, coil terminating, temporary masking, structural bonding, encapsulation, potting, conformal coating, surface mount component attachment, and glob topping.
- Epoxy-based product formulations are high in demand according to the recent trend because of the fast-setting characteristics coupled with a work-life in the range of 2 to 5 minutes which shows rigid bond lines. Moreover, the epoxy curing adhesives are found in applications related to bond plastic, metal, fiber-reinforced plastic (FRP), rubbers, and glass.
Curing Adhesives Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global curing adhesives market analysis, the electronics industry made new innovations such as hybrid vehicles, mobile electronic devices, medical applications, digital cameras, computers, and others which is propelling the growth of curing adhesives by replacing many traditional soldering systems.
After the outbreak of the pandemic in the last few years across regions has resulted in the lockdown of cities, breakdown of transportation networks, and border restrictions, which is further assumed to affect the chemicals & materials network of distribution and the complete pricing, international trade, manufacturing operations, and supply chain negatively.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 44.29 million |
| Market size value in 2031 | USD 71.10 billion |
| Growth Rate | 6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Curing Adhesives Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Curing Adhesives Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Curing Adhesives Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Curing Adhesives Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Curing Adhesives Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Curing Adhesives Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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