Desirable characteristics of UV adhesives, including but not limited to: high bond strength, fast curing rates, and low VOC emissions, will contribute to the growth of the global UV adhesives market, taking its valuation to US$116.9 mn by 2020, says Transparency Market Research. In its report, titled, ‘UV Adhesives Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020’, the market intelligence firm states that the valuation of the market was US$69.3 mn in 2013. The healthy rise in the market’s revenue translates to a compound annual growth rate of 8.1% between 2014 and 2020.
Moore’s law continues to hold true, resulting in electronic products becoming more compact and slimmer. Consequently, the demand for adhesives that can preserve the integrity of these electronic is showing an upswing. At the same time, the flexible packaging market, which is growing remarkably, has stirred up a massive demand for UV adhesives that can cure fast and show better bonding attributes. UV adhesives emit low amounts of volatile organic compounds (VOC), which makes the former the product of choice in applications where environmental safety is a priority.
Yet, the adoption of UV adhesives in many industrial sectors hasn’t gathered momentum. This can be blamed on the high cost of sophisticated machinery that’s required for the application of UV adhesives. Despite this restraint—which will likely be addressed in the due course of time with the introduction of more affordable machinery—the market for UV adhesives holds immense potential in the development of environmentally friendly products.
The authors of this report have segmented the global UV adhesives market based on the following criteria: product type, application, and geography. By product, the market is segmented into epoxy, acrylic, silicone, polyurethane, and others. Acrylics are most extensively used in the manufacture of UV adhesives because they carry favorable characteristics such as superior optical clarity and a high bond strength while still being affordable in nature. The use of acrylics in manufacturing UV adhesives is thus widely seen. The acrylic UV adhesives segment is expected to exhibit strong performance over the forecast period of the report, which ranges from 2014 to 2020. Acrylic UV adhesives accounted for 35% of the global UV adhesives market, by product, in 2013 in terms of volume. Although epoxy UV adhesives also boasted a strong presence in the global UV adhesives market in 2013, their demand is expected to dwindle with acrylic, silicone, and polyesters gaining demand.
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Likewise, the market segments, based on application, are: assembly, packaging and laminating, pressure sensitive application, wood-working, and others. Of these, the packaging and laminating application segment held the single-largest share in the global UV adhesives market by application. In 2013, this segment accounted for one fourth of the global market in volume terms and will remain in a dominant position until 2020, show TMR’s projections.
The regional markets studied in the report are North America, Asia Pacific, Europe, and Rest of the World. With a share of 25%, North America consumed the highest volume of UV adhesives in the world as of 2013. The North America UV adhesives market was followed by Asia Pacific, which will log the fastest growth until 2020.
The following companies have been profiled in detail in the report on the UV adhesives market: Henkel AG & Co. KGaA, H.B. Fuller Company, 3M Company, BASF SE, Ashland, Inc., Avery Dennison Corporation, Huntsman Corporation, Bostik SA and others.