In terms of revenue, the Global UV Adhesive Market is expected to reach USD 1147.6 Million by 2028, growing at a CAGR (Compound Annual Growth Rate) of 8.10% from 2022 to 2028.
The worldwide market is anticipated to be driven by the UV Adhesive market during the forecast period. UV Adhesives are often used to align and place pieces precisely. These substances can be used for either temporary or structural bonding. Metals, rubbers, glass, ceramics, and polymers, including polycarbonates, acrylics, and phenolics, are just a few of the comparable and dissimilar substrates that UV cure adhesive adheres to effectively. The optical clarity and translucency, dimensional stability, low shrinkage, and resistance to chemicals, fuels, solvents, and moisture are all features of particular grades. In addition, UV Adhesive offers protection against environmental deterioration caused by outdoor weathering to satisfy strict end-user requirements.
Moreover, the desire for smaller electronic devices, improved performance for industrial applications, and increasing demand for flexible packaging applications all contribute to expanding the UV Adhesive market. However, the high price of application machinery restricts market expansion. The development and use of LED UV lights in industrial settings offer future market expansion opportunities.
Key Highlights from the Report
- In terms of resin type, the acrylic segment, followed by the cyanoacrylate segment, commands most of the UV Adhesive market. Numerous cosmetics and beauty products, including eyeliner pencils, gel nail polishes, and decorative glassware, use UV Adhesives with acrylic and cyanoacrylate compositions on a huge scale.
- Among Applications, the medical segment accounted for the highest CAGR in the forecast period. This is because the UV Adhesive materials market is expanding for tissue engineering and wound healing applications.
- In terms of region, North America holds the major market share within the UV Adhesive market. This is mainly because UV Adhesive is increasingly used in the engineering and construction sectors.
The market is expanding due to rising demand for UV Adhesives because of their quick curing times, strong bonds, and reduced VOC emissions. In addition, the market is anticipated to increase due to growing environmental concerns and more stringent VOC emission regulations. For instance, Europe has created the EMICODE and M1 labels to demonstrate low adhesive VOC emissions. Therefore, expanding environmental laws and regulations are anticipated to fuel the development of the UV Adhesive market.
The market for UV Adhesives is expanding due to the rising need for electronic gadgets that are smaller, thinner, and more portable. The demand for UV Adhesive has increased as more electronic devices, such as tablets, laptops, mobile phones, and televisions, have entered our lives. In making electrical equipment smaller, UV Adhesives are quickly becoming more popular as an alternative to traditional screws, clamps, and hinges. Therefore, the market growth of UV Adhesive is quickening due to the rising demand for the shrinking electronic gadgets.
The UV Adhesive market from the end-use sector for cosmetics is anticipated to hold most of the market share. Due to the quick movement in consumer demand toward high-end cosmetic items, particularly among younger populations, the cosmetics industry is growing at a respectable rate. Eyeliner pencils, ornamental glassware, and gel nail polishes are just a few cosmetics and beauty products that frequently use UV Adhesives with acrylic and cyanoacrylate compositions. In addition, these adhesives also have exceptional qualities, including no smell, excellent adherence to plastic and metallic objects, ideal viscosity, high dispensability, and quick curing nature, further encouraging product consumption.
The market's growth is anticipated to be constrained by the simple accessibility of inexpensive and efficient alternatives to adhesive. UV Adhesive can be replaced with a variety of inexpensive substitutes that are readily accessible on the market. This element is impeding market expansion. In addition, since UV Adhesive is still relatively new and in its infancy on the market, there needs to be more awareness about it in developing countries, which is having a significant impact on demand.
Geographically, North America market is anticipated to observe considerable market growth with the maximum growth rate during the forecast period. The frequency of chronic diseases has significantly increased, and the introduction of numerous public welfare programs is anticipated to boost the region's production of cutting-edge diagnostic equipment. Additionally, UV Adhesives are used to construct complicated medical equipment, including oxygenators, breathing machines, facemasks, tube sets, catheters, reservoirs, and housings. Throughout the projection period, factors like these can favorably impact the expansion of the regional market.
The Global UV Adhesive Market is Segmented as follows
- Resin Types
- Other Resin Types
- Glass Bonding
- Industrial Assembly
- Other Applications
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global UV Adhesive Market is
3M Company (US), Ashland Inc. (US) , Beacon Adhesives Inc. (US), Dymax Corporation (US), Flint Group (Luxembourg), H.B. Fuller Co. (US) , Henkel AG & Co. KgaA (Germany), Hibond (Luxembourg), Masterbond Inc. (US), Permabond Engineering Adhesives (UK)
The Global UV Adhesive Market Scope can be Tabulated as below
|Market Size Provided for Years||2017 - 2030|
|Historic Years||2017 - 2021|
|Forecast Years||2023 - 2030|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|