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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Definition of Market/Industry:

UV adhesives are a type of radiation curable adhesives that cure quickly under radiation such as electromagnetic radiation this also includes visible light and electron beam. UV adhesives provide excellent adhesion to a variety of surfaces such as wood, plastics, metals, and paper. They emit low or zero emissions of volatile organic compounds during application.

The global UV Adhesives market is estimated to be valued at US$ 126.48 million in 2021 and is expected to exhibit a CAGR of 8.1 % over the forecast period (2021-2028).

Recent Developments:

  • In October 2019, Eurobond Adhesives Ltd has launch Vitralit® UC1535, a new transparent adhesive specifically designed for use in electronics. It hardens with UV light within a few seconds and can also be used for semiconductor production due to its low ion content.
  • In November 2019, a business line of Arkema – Sartomer, had launched a new liquid resin for UV-curable 3D Printing named N3xtDimension. This new resin exhibit various characteristics such as high flexibility, high-resolution prototyping and castability, impact resistance, etc. They find applications in various end-use industries such as automotive, consumer goods, pharmaceuticals, among others.
  • In August 2019, Meridian Adhesives Group, a leading manufacturer of adhesives and sealants technologies had acquired Epoxies, Etc. Epoxies, Etc. is a leader in manufacturing and formulating UV Curable systems, specialty epoxies, silicones, urethanes, including adhesives, coatings, and potting compounds.

North America held dominant position in the global UV Adhesives market in 2020, accounting for 36.20% share in terms of value, followed by Asia Pacific and Europe, respectively. Increasing environmental restrictions pertaining to VOC emission has shifted North American adhesives markets in favour of UV adhesives.

Figure 1. Global UV Adhesives Market Value (US$ Mn), by Region, 2020

UV Adhesives  | Coherent Market Insights

Drivers:

Growing demand for UV adhesives due to its fast curing rates, high bond strength, and low VOC emissions is driving the market growth. Increasing environmental concerns coupled with the growing strict norms regarding VOC emissions are again expected to foster market growth. For instance, Europe has issued EMICODE and M1 labels for showing low VOC emissions from adhesives. Thus, growing environmental rules and regulations is expected to propel the market growth of the UV adhesives.

The growing popularity of smaller thinner and compact electronic devices is propelling the market growth of UV adhesives. Penetration of electronic devices such as tablets, laptops, mobile phones, and television has further augmented the demand for UV adhesives. UV adhesives are rapidly gaining demand as a substitute for conventional screws, clamps, and hinges in the miniaturization of electronic devices. Hence, growing demand for miniaturization of electronic devices is accelerating the market growth of UV adhesives. 

Market Opportunities

The growing popularity of silicone UV glue across cosmetic dentistry and replacing amalgam filling is projected to bring new market opportunities. Increasing investment in innovation and advanced medical equipment in the U.S. is expected to foster the market growth of the UV adhesives. Moreover, the growing adoption of the product potting, encapsulation, and bonding in electronic components is again expected to propel the market growth UV adhesives. All these factors are the augmenting market growth.

Growing awareness regarding the benefits of UV adhesives across manufacturers of various industries is expected to bring new market opportunities. Properties such as high electrical, thermal, and optical property offer a wide spectrum of applications across various end-user industries. Moreover, the rise in the automotive sectors across developing countries coupled with the increasing disposable income of the consumers is again expected to propel the market growth.

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UV Adhesives Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 126.48 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 8.1% 2028 Value Projection: US$ 218.76 Mn
Geographies covered:
  • Regions: North America, Europe, Asia-Pacific, and Rest of World
Segments covered:
  • Product Type: Acrylic, Polyurethane, Epoxy, Silicone, & Others
  • Application: Pressure sensitive applications, Packaging & Laminating, Wood-working, Assembly, & Others
Companies covered:

3M Company, Ashland, Inc., H.B. Fuller Company, Henkel AG & Co. KGaA, BASF SE, Huntsman Corporation, Avery Dennison Corporation, Adhesives Research, Inc., The Dow Chemical Company, and Bostik SA.

Growth Drivers:
  • Advent of strict VOC emission regulation
  • Technological advancement 
Restraints & Challenges:
  • Availability of low cost alternative adhesives

Market Trends

Increasing demand for UV adhesives from the aerospace sector is expected to propel the market growth. Rise in the aerospace industry due to increasing travel and tourism is augmenting the market. This is also attributed to the rise in the investment by the airline industry for enhancing services and growing spending by consumers on the travels. All these factors are driving demand for high performance and novel adhesives that can be used in the bonding of the aerospace components.

The rise in the construction industry coupled with the increased spending by consumers on the home decor due to improving standard of living is expected to augment the market growth. UV adhesives are widely used in the floor tile installation, ceramic tile, prefinished panel installation, etc. Also, the growing demand for various consumer goods such as stationery products and decorative films is further accelerating the market growth of the UV adhesives over the forecast timeframe.

Figure 2. Global UV Adhesives Market Share, By Product Type, 2020

UV Adhesives  | Coherent Market Insights

Key Takeaways of the Graph:

  • The Acrylic in product type held dominant position in the market and accounted for 32.8% share in the global UV Adhesives market in 2020. The segment is expected to reach US$ 79.19 million in 2028.
  • Properties of high dielectric strength, chemical resistance and mechanical strength make acrylics UV adhesives an excellent choice for consumer electronics and automobile applications.

Market Restraints

The easy availability of low cost and effective alternative adhesives is expected to restrict market growth. There are many low-cost alternatives available in the market that can be used in place of UV adhesives. This factor is hindering the market growth.

Lack of awareness regarding the UV adhesive across developing regions as it is new in the market and still in the nascent phase is acting as a major factor affecting demand.

Competitive Section:

Company Names 

  1. 3M Company
  2. Ashland, Inc.
  3. H.B. Fuller Company
  4. Henkel AG & Co. KGaA
  5. BASF SE
  6. Huntsman Corporation
  7. Avery Dennison Corporation
  8. Adhesives Research, Inc.
  9. The Dow Chemical Company
  10. Bostik SA

Few Recent Developments

In November 2017, Ashland and Phoseon Technology announce a global UV LED initiative, combining Ashland’s product development expertise in UV LED coatings and laminating adhesives and Phoseon’s UV LED curing lamp technology for the labels and packaging industry.

UV Adhesives, also called UV glue, UV Sterilizers, UV Steroid Solvents or UV glue sticks, are an important component of many industries. UV adhesives are adhesives that polymerize or solidify with ultraviolet light and thus curing via radiation. These UV adhesives were originally developed for the cosmetic industry, where they were used to seal and color bottles, plastic containers, lips, eyes, and skin. UV adhesives have now become commonplace in most industries due to their UV curing properties, especially for food and cosmetic applications.

Market Dynamics:

Technological advancement in the development of adhesives is fostering growth of the UV adhesives market. For instance, in October 2019, Eurobond Adhesives Ltd has launch Vitralit® UC1535, a new transparent adhesive specifically designed for use in electronics. It hardens with UV light within a few seconds and can also be used for semiconductor production due to its low ion content. Moreover, strict VOC emission regulation is again expected to augment growth of the market.

On the other hand, presence of cost-effective alternative is expected to hinder growth of the market.

Key features of the study:

  • This report provides in-depth analysis of the UV adhesives market, and provides market size (US$ Million & Tons) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global UV adhesives market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include 3M Company, Ashland, Inc., H.B. Fuller Company, Henkel AG & Co. KGaA, BASF SE, Huntsman Corporation, Avery Dennison Corporation, Adhesives Research, Inc., The Dow Chemical Company, and Bostik SA
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global UV adhesives market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global UV adhesives market

Detailed Segmentation:

  • Global UV Adhesives Market, By Product Type:
    • Acrylic
    • Polyurethane
    • Epoxy
    • Silicone
    • Others
  • Global UV Adhesives Market, By Application:
    • Pressure sensitive applications
    • Packaging & Laminating
    • Wood-working
    • Assembly
    • Others
  • Global UV Adhesives Market, By Region:
    • North America
      • By Product Type
        • Acrylic
        • Polyurethane
        • Epoxy
        • Silicone
        • Others
      • By Application
        • Pressure sensitive applications
        • Packaging & Laminating
        • Wood-working
        • Assembly
        • Others
      • By Country
        • Canada
        • U.S.
    • Europe
      • By Product Type
        • Acrylic
        • Polyurethane
        • Epoxy
        • Silicone
        • Others
      • By Application
        • Pressure sensitive applications
        • Packaging & Laminating
        • Wood-working
        • Assembly
        • Others
      • By Country
        • U.K.
        • France
        • Germany
        • Rest of Europe
    • Asia Pacific
      • By Product Type
        • Acrylic
        • Polyurethane
        • Epoxy
        • Silicone
        • Others
      • By Application
        • Pressure sensitive applications
        • Packaging & Laminating
        • Wood-working
        • Assembly
        • Others
      • By Country
        • China
        • India
        • ASEAN
        • Australia
        • Rest of Asia Pacific
    • Latin America
      • By Product Type
        • Acrylic
        • Polyurethane
        • Epoxy
        • Silicone
        • Others
      • By Application
        • Pressure sensitive applications
        • Packaging & Laminating
        • Wood-working
        • Assembly
        • Others
      • By Country
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • By Product Type
        • Acrylic
        • Polyurethane
        • Epoxy
        • Silicone
        • Others
      • By Application
        • Pressure sensitive applications
        • Packaging & Laminating
        • Wood-working
        • Assembly
        • Others
      • By Region
        • Middle East
        • Africa
  • Company Profiles
    • 3M Company*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Ashland, Inc.
    • B. Fuller Company
    • Henkel AG & Co. KGaA
    • BASF SE
    • Huntsman Corporation
    • Avery Dennison Corporation
    • Adhesives Research, Inc.
    • The Dow Chemical Company
    • Bostik SA

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, Product Type
      • Market Snippet, Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • PEST Analysis
      • PORTER’s Five Forces Analysis
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Mergers and Acquisitions
  4. Global UV Adhesives Market - Impact of Coronavirus (Covid-19) Pandemic
    • Overview
    • Factors Affecting Global UV Adhesives Market – COVID-19
    • Impact Analysis
  5. Global UV Adhesives Market, By Product Type, 2017- 2028 (US$ Mn & Tons)
    • Introduction
      • Market Share Analysis, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 - 2028
      • Segment Trends
    • Acrylic
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & Tons)
    • Polyurethane
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & Tons)
    • Epoxy
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & Tons)
    • Silicone
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & Tons)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & Tons)
  6. Global UV Adhesives Market, By Application, 2017- 2028 (US$ Mn & Tons)
    • Introduction
      • Market Share Analysis, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 - 2028
      • Segment Trends
    • Pressure sensitive applications
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & Tons)
    • Packaging & Laminating
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & Tons)
    • Wood-working
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & Tons)
    • Assembly
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & Tons)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & Tons)
  7. Global UV Adhesives Market, By Region, 2017- 2028 (US$ Mn & Tons)
    • Introduction
      • Market Share Analysis, By Region, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, For Regions, 2021 - 2028
    • North America
      • Market Share Analysis, By Country, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Application, 2020, 2022 and 2028 (%)
      • By Country
        • U.S.
        • Canada
    • Latin America
      • Market Share Analysis, By Country, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Application, 2020, 2022 and 2028 (%)
      • By Country
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Europe
      • Market Share Analysis, By Country, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Application, 2020, 2022 and 2028 (%)
      • By Country
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Share Analysis, By Country, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Application, 2020, 2022 and 2028 (%)
      • By Country
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Middle East & Africa
      • Market Share Analysis, By Sub-Region, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Sub-Region, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Application, 2020, 2022 and 2028 (%)
      • By Region
        • Middle East
        • Africa
  8. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      • 3M Company
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Ashland, Inc.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • H.B. Fuller Company
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Henkel AG & Co. KGaA
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • BASF SE
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Huntsman Corporation
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Avery Dennison Corporation
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Adhesives Research, Inc.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • The Dow Chemical Company
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Bostik SA
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 50 market data tables* and 45 figures* on "UV Adhesives Market” - Global forecast to 2028.

FAQgrowicon

Frequently Asked Questions

The global UV Adhesives market size is estimated to be valued at US$ 126.48 Million in 2021 and is expected to exhibit a CAGR of 8.1% between 2021 and 2028.
Introduction of strict VOC emission norms is a prime factor fuelling growth of market.
The Acrylic in product segment is the leading component segment in the market.
Easy availability of low cost and effective alternative adhesive is expected to hinder growth of the market.
Major players operating in the market include, 3M Company, Ashland, Inc., H.B. Fuller Company, Henkel AG & Co. KGaA, BASF SE, Huntsman Corporation, Avery Dennison Corporation, Adhesives Research, Inc., The Dow Chemical Company, and Bostik SA
North America region is expected to hold dominant position in the market over the forecast period. The growth of the market in the region is driven by increasing environmental restrictions pertaining to VOC emission which has shifted North American adhesives markets in favour of UV adhesives.
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