USD 770 million
UV Adhesives Market Size, Share, Growth Analysis, By Resin(Acrylic, cyanoacrylate, epoxy, silicone), By Application(Packaging, electronics, medical, transportation), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15B2075 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
70
|Figures:
75
UV Adhesives Market Insights
UV Adhesives Market size was valued at USD 770 million in 2022 and is poised to grow from USD 835.45 million in 2023 to USD 1478.87 million by 2030, at a CAGR of 6.0% during the forecast period (2023-2030).
UV adhesives are versatile compounds widely used for precise positioning and bonding of parts in various industries. They are effective for both structural and temporary bonding and can adhere well to different substrates like metals, rubbers, glass, ceramics, and various plastics including polycarbonates, acrylics, and phenolics.
Some UV adhesives also offer optical clarity, dimensional stability, low shrinkage, and excellent resistance to chemicals, fuels, solvents, and moisture, making them ideal for demanding applications.
The growth of the UV adhesives market is driven by their enhanced performance in industrial applications and the increasing demand for compact electronic products. Additionally, their application in flexible packaging is driving market growth.
However, the high cost of application machinery is a restraint to market expansion. Nevertheless, the adoption of LED UV lamps in industrial applications presents promising growth opportunities for the UV adhesives market. These advancements enable protection from environmental degradation and outdoor weathering, meeting the stringent requirements of end-users.
US UV Adhesives Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
electronics
Fastest Growth
electronics
Growth Rate
6.0% CAGR
Global UV Adhesives Market by region
Country Share for North America (%)
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UV Adhesives Market Segmental Analysis
The global UV adhesives market is segmented based on resin type, application, and geography. By resin type, the market is divided into acrylic, cyanoacrylate, epoxy, silicone, polyurethane, and others. Based on application, it is classified into packaging, electronics, medical, transportation, industrial assembly, glass bonding, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
UV Adhesives Market Analysis by Resin
The largest market for UV adhesives is currently dominated by acrylic-based UV adhesives. The widespread use of acrylic adhesives in industries like electronics, medical devices, and automotive assembly, where fast curing and strong bonding properties are essential, has contributed to their significant market share.
The fastest-growing segment in the UV adhesives market is likely to be epoxy-based UV adhesives. Epoxy adhesives are known for their high strength and excellent bonding properties, making them increasingly popular in industries like electronics, aerospace, and automotive, where reliable and durable bonding is critical. As these industries continue to grow and demand innovative bonding solutions, the adoption of epoxy-based UV adhesives is expected to rise rapidly.
UV Adhesives Market Analysis by Application
The fastest-growing segment in the UV adhesives market is expected to be the electronics industry. The increasing demand for smartphones, tablets, wearable devices, and other consumer electronics is fueling the growth of UV adhesives in this sector. The adoption of UV adhesives in the medical industry is also growing rapidly due to the need for advanced medical devices and equipment. Additionally, the packaging and laminating segment is experiencing significant growth, driven by the rising demand for sustainable and efficient packaging solutions.
Global UV Adhesives Market by application
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UV Adhesives Market Regional Insights
As of the latest available data, North America is the largest market for UV adhesives. The region's dominance can be attributed to the presence of a well-established industrial sector, extensive adoption of UV-curable adhesives in various industries, and a strong demand for high-performance adhesive solutions.
Asia-Pacific is the fastest-growing market for UV adhesives. The region's rapid growth can be attributed to the expansion of industrial activities, especially in countries like China and India, which have witnessed significant growth in sectors such as electronics, automotive, packaging, and healthcare. The increasing demand for compact electronic products and the rising popularity of UV adhesives in flexible packaging applications are driving the market growth in the Asia-Pacific region. Additionally, advancements in manufacturing technologies and the adoption of UV adhesives for various industrial applications are fueling the market's expansion in this region.
Global UV Adhesives Market by geography
- Largest
- Fastest
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UV Adhesives Market Dynamics
UV Adhesives Market Drivers
Superior Quality and Performance to Bolster Demand
- The main driver of the global UV adhesives market is the enhanced performance and versatility of UV-curable adhesives in various industrial applications. UV adhesives offer several advantages such as rapid curing, strong bonding to diverse substrates, excellent chemical resistance, and environmental durability. These characteristics make UV adhesives highly desirable for precise positioning, alignment, and structural bonding in industries like electronics, automotive, medical devices, packaging, and more.
UV Adhesives Market Restraints
High Cost to Restrain Market Growth
- The primary restraint for the UV adhesives market is the high cost of application machinery and equipment required for UV curing. UV adhesives need specialized UV lamps or equipment for curing, which can be expensive to install and maintain. This cost factor may deter some manufacturers from adopting UV adhesives, especially small-scale industries or those with budget constraints. Additionally, the initial investment in UV curing equipment might pose a barrier for manufacturers who are accustomed to using traditional adhesives with simpler curing methods. However, advancements in UV curing technology and the growing demand for high-performance adhesive solutions are expected to drive the market further despite this restraint.
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UV Adhesives Market Competitive Landscape
The global UV adhesives market is highly competitive and consists of several key players. These companies are actively involved in research and development activities to develop innovative and advanced UV adhesives to cater to various industries' demands. They also focus on expanding their market presence through strategic partnerships, collaborations, mergers, and acquisitions. Additionally, manufacturers are striving to offer customized solutions to meet the specific requirements of end-users. These companies compete based on factors such as product quality, performance, pricing, and customer support. Brand reputation and extensive distribution networks also play a crucial role in their competitive strategies. As the demand for UV adhesives continues to grow across various industries, companies in the market are expected to intensify their efforts to maintain a competitive edge and capitalize on the market opportunities.
UV Adhesives Market Top Player’s Company Profiles
- Henkel AG & Co. KGaA - Germany
- 3M Company - USA
- Sika AG - Switzerland
- Dymax Corporation - USA
- H.B. Fuller Company - USA
- DELO Industrial Adhesives - Germany
- Panacol-Elosol GmbH - Germany
- Master Bond Inc. - USA
- Permabond Engineering Adhesives Ltd. - UK
- Toagosei Co., Ltd. - Japan
- Ashland Global Holdings Inc. - USA
- Loxeal S.r.l. - Italy
- ITW Devcon - USA
- Bondline Electronic Adhesives - USA
- Epoxy Technology Inc. - USA
- Huntsman Corporation - USA
- Weicon GmbH & Co. KG - Germany
- LORD Corporation - USA
- Delo Adhesives - Germany
- Bohle AG - Germany
UV Adhesives Market Recent Developments
- In February 2020, Henkel Adhesives Technologies India Ltd, a subsidiary of Henkel AG & Co, revealed its intentions to invest approximately US$ 54 million to expand its adhesive facility located at Kurkumbh near Pune, India. This facility is one of Henkel's largest manufacturing plants globally.
UV Adhesives Key Market Trends
- The global UV adhesives market is increasing demand for natural and clean label ingredients. As consumers become more health-conscious and seek healthier food options, they are increasingly looking for products with clean and simple ingredient lists. This has led to a growing preference for sodium reduction ingredients derived from natural sources, such as amino acids, yeast extracts, and mineral salts. Food manufacturers are responding to this trend by incorporating natural sodium reduction ingredients into their products to cater to consumer preferences and meet regulatory requirements. Additionally, the clean label trend is driven by the perception that natural ingredients are safer and healthier than synthetic alternatives. As a result, the market is witnessing a shift towards natural sodium reduction ingredients, and food manufacturers are actively reformulating their products to offer healthier options with reduced sodium content, appealing to a broader consumer base seeking better-for-you products.
UV Adhesives Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the global UV adhesives market is expected to witness promising future prospects. The market is projected to grow due to the increasing demand for compact electronic products, rising adoption of UV adhesives in various industrial applications, and the expansion of industries such as electronics, automotive, healthcare, and packaging. The UV adhesives offer enhanced performance and cater to the requirements of precision bonding and positioning of parts. Additionally, the growing preference for UV-curable adhesives due to their fast-curing time, high bond strength, and environmental benefits is likely to drive market growth. The introduction of advanced UV lamp technologies and continuous research and development efforts will further fuel the market's growth in the coming years.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 770 million |
| Market size value in 2031 | USD 1478.87 million |
| Growth Rate | 6.0% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| 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:-
|
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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 UV 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 UV 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 UV 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 UV 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 UV Adhesives Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the UV 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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