UV-Curable Adhesives Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Resin Type, Application, End-user Industry, and Geography

Market Snapshot

UV Curable Adhesives Market - Market Summary
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The market for UV-curable adhesives is expected to witness a CAGR of 10.16% during the forecast period, 2019-2024. Major factors driving the market studied is the growing demand for flexible packaging. On the flip side, relatively high machinery cost compared to other adhesives is expected to hinder the growth of the studied market.

  • The acrylic segment dominated the market in 2018 and is expected to grow during the forecast period, owing to the increasing applications in the end-user industries, such as automotive, consumer goods, defense and aerospace, furniture, etc.
  • Emerging R&D on adhesives to develop eco-friendly products, and innovations aimed at lowering the cost of end products are likely to provide opportunities for the studied market during the forecast period.
  • Asia-Pacific dominated the market worldwide, with the largest consumption from countries, such as China, Japan, and India.

Scope of the Report

The UV-curable adhesives market report includes:

Resin Type
Silicone
Acrylic
Polyurethane
Epoxy
Other Resin Types
Application
Optical
Speaker assembly
Medical Devices
Syringes
Displays (LEDs)
Sensors
Wire Tacking
Glass Bonding
Other Applications
End-user Industry
Medical
Electrical and Electronics
Transportation
Packaging
Furniture
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Rest of the World
Brazil
Saudi Arabia
South Africa
Other Countries

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Key Market Trends

Packaging Segment to Witness Strong Growth

  • UV-curable adhesives find their applications in the packaging sector, owing to their ability to create quick bonds between different materials, such as plastic, rubber, metal, glass, and ceramic materials.
  • Properties, such as superior strength and flexibility, ability to withstand the extreme environment, and excellent moisture resistance makes UV-curable adhesives suitable for packaging application. 
  • The demand for UV-curable adhesives from the plastic packaging industry is consistently increasing in Europe and North America regions, with the growing awareness about the benefits of using UV-curable adhesives. These adhesives are known to eliminate heat and Radio Frequency (RF) sealing of clamshell packages.
  • The usage of UV-curable adhesives as laminating films, papers, and foils is increasing in product packaging applications where weather resistance is required.
  • With the growing trend of e-commerce, e-retail, and online food orders and delivery services, the demand for packaging materials, especially flexible packaging has been increasing, which is likely to drive the demand for UV-curable adhesives during the forecast period.
  • Asia-Pacific and North America dominate the demand for UV-curable adhesives for packaging applications.
UV Curable Adhesives Market - Segmentation Trends

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Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region dominated the global market share, in 2018. With growing investments into the medical industry and increasing electrical and electronics production in countries, such as China, India, and Japan, the usage of UV-curable adhesives is increasing in the region.
  • China stands to be the largest market for UV-curable adhesives and is also expected to witness the highest CAGR during the forecast period. The use of UV-curable adhesives in the packaging sector is growing at a tremendous rate in the country, owing to their advantages over the usage of conventional adhesive systems used.
  • The demand from industries, like consumer goods, food and beverage, and others for packing materials is increasing in China, owing to the increasing exports, as well as domestic consumption.
  • Japan, on the other hand, is a hub for technological advancements and hosts an active R&D base for R&D of newer and efficient UV-curable adhesives. Owing to this, novel UV-curable adhesive products are finding their applications in the packaging, electrical, and automotive sectors in the country in recent times.
  • India is also one of the major consumers of UV-curable adhesives in the region. Robust growth of packaging industry, increasing investments and production in the electronic and automotive industry are likely to drive the demand for UV-curable adhesives over the forecast period.
UV Curable Adhesives Market - Regional Trends

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Competitive Landscape

The UV-curable adhesives market is consolidated, where few players account for a significant portion of the market demand. Some of these major players include Dymax Corporation, 3M, H.B. Fuller, Henkel AG & Company KGaA, and DELO Industrial Adhesives amongst others.

Major Players

  1. Dymax Corporation
  2. 3M
  3. H.B. Fuller
  4. Henkel AG & Company KGaA
  5. DELO Industrial Adhesives

* Complete list of players covered available in the table of contents below

UV Curable Adhesives Market - Market Concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Superior Properties, like Fast Curing Rates, High Bond Strength, and Low VOC Emissions

      2. 4.1.2 Rising Demand for UV Adhesives for Flexible Packaging Application

    2. 4.2 Restraints

      1. 4.2.1 Relatively High Machinery Cost Compared to Other Adhesives

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Resin Type

      1. 5.1.1 Silicone

      2. 5.1.2 Acrylic

      3. 5.1.3 Polyurethane

      4. 5.1.4 Epoxy

      5. 5.1.5 Other Resin Types

    2. 5.2 Application

      1. 5.2.1 Optical

      2. 5.2.2 Speaker assembly

      3. 5.2.3 Medical Devices

      4. 5.2.4 Syringes

      5. 5.2.5 Displays (LEDs)

      6. 5.2.6 Sensors

      7. 5.2.7 Wire Tacking

      8. 5.2.8 Glass Bonding

      9. 5.2.9 Other Applications

    3. 5.3 End-user Industry

      1. 5.3.1 Medical

      2. 5.3.2 Electrical and Electronics

      3. 5.3.3 Transportation

      4. 5.3.4 Packaging

      5. 5.3.5 Furniture

      6. 5.3.6 Other End-user Industries

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 ASEAN Countries

        6. 5.4.1.6 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 France

        4. 5.4.3.4 Italy

        5. 5.4.3.5 Spain

        6. 5.4.3.6 Rest of Europe

      4. 5.4.4 Rest of the World

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Saudi Arabia

        3. 5.4.4.3 South Africa

        4. 5.4.4.4 Other Countries

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M Company

      2. 6.4.2 BASF SE

      3. 6.4.3 Cartell Chemical Co. Ltd

      4. 6.4.4 DELO Industrial Adhesives

      5. 6.4.5 DowDuPont Inc.

      6. 6.4.6 Dymax Corporation

      7. 6.4.7 Epoxy Technology Inc.

      8. 6.4.8 H.B. Fuller Company

      9. 6.4.9 Henkel AG & Company KGaA

      10. 6.4.10 ITW Polymers Adhesives

      11. 6.4.11 Master Bond Inc.

      12. 6.4.12 Panacol-Elosol GmbH

      13. 6.4.13 Permabond LLC

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Emerging R&D on Adhesives to Develop Eco-Friendly Products

    2. 7.2 Innovations Aimed at Lowering Cost of End Products

**Subject to Availability

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