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The UV curable adhesives market size is estimated to grow by USD 112.2 million at a CAGR of 5.68% between 2023 and 2028. The market is witnessing a significant increase driven by multiple factors. Firstly, there's a notable uptick in demand for consumer electronics and consumer devices globally. These industries require reliable adhesives for various applications. Secondly, there's a growing emphasis on achieving strong bond strength and performance, especially in critical applications where durability is paramount. Lastly, emerging markets are experiencing a heightened demand for UV-curable adhesive due to rapid industrialization and infrastructure development. As these regions continue to expand their manufacturing capabilities, the need for advanced adhesive solutions is increasing. Consequently, the market is poised for substantial growth in response to these driving factors.
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The Acrylic segment is estimated to witness significant growth during the forecast period. In the market, acrylic resins, sourced from acrylic monomers, serve as a preferred choice due to their versatility, superior adhesion properties, and resistance to environmental factors. These resins, when transformed into UV-curable adhesive, provide a blend of performance characteristics, catering to a multitude of applications.
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The Acrylic segment was the largest segment and was valued at USD 190.40 million in 2018. These characteristics of UV-curable adhesives have helped hospitals and other healthcare facilities switch to more affordable, single-use medical devices, Volatile Organic Compounds (VOC) this reduces the risk of spreading the disease to patients who may have been in contact with syringes and other medical devices. The UV curable medical adhesive has essentially helped create a more hygienic environment for patient care by allowing medical devices and instruments to be used only once. Therefore, these characteristics of UV-curable adhesives are expected to increase their adoption in the medical device industry, thereby driving the growth of the medical segment of the market during the forecast period.
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APAC is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Countries like China, Japan, India, South Korea and some Southeast Asian countries have emerged as major players in the market. The region's rapid economic expansion, coupled with increasing industrial and manufacturing activities, has driven demand for advanced bonding technologies such as UV-curable adhesives.
Moreover, steady growth in industries such as consumer electronics, automotive and construction is the main driver of the market in APAC. The region's rising population, increasing disposable income, and changing consumer preferences have led to an increase in demand for consumer electronics. UV-curable adhesives are widely used in consumer electronics manufacturing, where they enable efficient assembly and improve the performance of electronic components, thereby boosting the growth of the market in the region during the forecast period.
The market is witnessing significant growth, driven by the demand for sustainable solutions in flexible packaging applications. Environmental regulations are prompting manufacturers to opt for UV adhesives across diverse industries, including the medical sector. Research and development efforts in regions like Asia-Pacific, Europe, and North America are driving innovations to cater to various packaging materials such as plastic, rubber, metal, glass, and ceramic. With rising e-commerce and online food orders, UV adhesives are increasingly utilized to ensure secure packaging for delivery services. Moreover, UV-curable adhesives offer superior weather resistance, making them ideal for laminating films, papers, and foils in food packaging applications. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market is driven by the escalating demand for electronics and consumer devices. UV curable adhesives are pivotal in the assembly and manufacturing processes of electronic gadgets, serving in tasks like screen bonding, camera module assembly, touchscreen bonding, and component packaging. Their rapid curing capability upon exposure to UV light is especially beneficial in electronics manufacturing, ensuring swift production cycles to meet consumer demands.
Moreover, UV-curable adhesives exhibit superior adhesive properties across various substrates such as glass, plastic, and metal, commonly found in electronic devices. Consequently, as the electronics industry advances, necessitating efficient adhesive solutions, UV curable adhesives emerge as the preferred choice, thus fostering market growth in the forecast period.
Increasing application of UV curable adhesives in 3D printing is the primary trend that shaping the growth of the market. Different 3D printing techniques using different materials and UV-curable adhesives are gaining traction as binders in several light-curing 3D printing processes. In stereoscopic 3D printing (SLA) and digital light processing (DLP), UV-curable plastic is commonly used as the main material. These resins consist of monomers, oligomers, and photopolymers that polymerize and solidify when exposed to UV light.
Moreover, fast layer-by-layer curing ensures more efficient and cost-effective manufacturing, making UV-curable adhesives a popular choice in high-throughput 3D printing applications. Therefore, with advances in materials and process technology, the application of UV-curable adhesives in 3D printing is expected to open up new possibilities in the end-user industries including aerospace, automotive, healthcare, and consumer goods, thereby propelling the growth of the market during the forecast period.
Sensitivity to oxygen inhibition is a challenge that affects the growth of the market. During the curing process of UV curable adhesives, the photochemicals inside the adhesive react with UV light to initiate polymerization and form stronger bonds. However, when exposed to ambient air containing oxygen, the free radicals generated during curing can react with oxygen molecules, resulting in incomplete curing on the adhesive surface. This phenomenon is called oxygen inhibition.
Moreover, an incomplete cure on the surface of the adhesive results in a thin, sticky layer known as the uncured surface. This tacky layer can negatively impact the performance of the adhesive, as it remains susceptible to contamination, which reduces bond strength and affects the overall integrity of the bond. In applications where aesthetics and cleanliness are important, the presence of an adhesive surface can be particularly difficult. Hence, the issue of oxygen inhibition could create a major challenge and that will impede the growth of the global market during the forecast period.
The market growth analysis report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market is experiencing rapid expansion driven by the demand for eco-friendly, solvent-free solutions like UV clear resins. Interpak leads innovation, catering to diverse applications from eyeliner pencils to medical devices like catheters and facemasks. With the aging population fueling demand for hearing aids and disposable needles, UV curable adhesives offer high bond strength and flexibility. Development strategies encompass topdown approach bottom-up approach, engaging upstream companies and raw material suppliers. Submarkets like decorative glassware and tube sets present niche opportunities, while prototype phase drive advancements in bonding agent. As industries prioritize sustainability and efficiency, the UV market continues to grow organically, addressing evolving consumer needs and technological trends.
Further, the market is witnessing substantial growth driven by the demand for eco-friendly and solventfree adhesives like UV curable resins and lightcuring adhesive. Industries spanning electrical equipment to medical devices, such as oxygenators, rely on these adhesives for their high bond strength, Flexible packaging and coating properties. Development strategies encompass both top-down and bottom-up approaches, with a focus on prototype phases to refine bonding agent. As per capita income rises globally, the market experiences organic growth, driven by consumer preference for Ecofriendly adhesives. This shift towards sustainable adhesives aligns with the industry's commitment to environmental responsibility and sets the stage for continued expansion in the market. Photograph initiators are essential in achieving rapid curing rates for modern materials. These initiators are particularly important in the use of UV-curable inks and UV-curable resins, which offer significant advantages such as low VOC emissions. This makes them a preferred choice for environmentally conscious applications. In manufacturing environments, especially on assembly lines, plastic substrates are commonly used, and the application of UV-curable inks ensures quick drying and high-quality results. This efficiency is crucial for maintaining production speed and quality. For packaging ready-to-consume foods, UV-curable resins provide a durable, safe coating that helps preserve food freshness. This technology not only enhances the longevity of the packaging but also adheres to stringent health standards by minimizing harmful emissions. The integration of these materials reflects advancements in both performance and environmental responsibility in various industries.
Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.68% |
Market growth 2024-2028 |
USD 112.2 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.3 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 47% |
Key countries |
China, US, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
3M Co., Arkema SA, BASF SE, Beacon Adhesives Inc., Cartell UK Ltd., DELO Industrie Klebstoffe GmbH and Co. KGaA, Denka Co. Ltd., Dow Inc., DuPont de Nemours Inc., Dymax Corp., Epoxies Etc., Excelitas Technologies Corp., H.B. Fuller Co., Henkel AG and Co. KGaA, Master Bond Inc., Panacol-Elosol GmbH, Permabond LLC, Sika AG, and ThreeBond Holdings Co. Ltd. |
Market dynamics |
Parent market analysis, Market forecasting, market report, market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Resin Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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