Press release
UV Adhesives Market Report 2024: Strategies And Recent Developments | BASF SE, Dow Inc., Mitsubishi Chemical Holdings, 3M Company, Henkel AG & Co. KGaA , ITW Performance Polymers
UV Adhesives Market Characteristics
The Business Research Company offers in-depth market insights through UV Adhesives Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The uv adhesives market size has grown strongly in recent years. It will grow from $2.08 billion in 2023 to $2.26 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to demand from electronics industry, stringent environmental regulations, increased automation, growing importance of green bonding solutions, expanding applications in medical devices.
The uv adhesives market size is expected to see strong growth in the next few years. It will grow to $2.98 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to emerging applications in renewable energy, increasing focus on electric vehicles, rising demand in packaging industry, shift towards eco-friendly solutions, global economic trends. Major trends in the forecast period include medical industry innovations, continued technology evolution, technology advancements, advancements in curing technologies, growing emphasis on bonding dissimilar materials.
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Market Segmentation:
The main resins of the UV adhesive market are acrylic, cyanoacrylate, epoxy, silicone, polyurethane, and other resin types. Acrylic refers to a type of synthetic polymer material that is commonly used in a variety of applications due to its versatility and durability. The various applications involved are pressure-sensitive applications, packaging and laminating, woodworking, assembly, and others that are used by medical, electronics, automotive, furniture and interior design, packaging, and others.
Major Driver - Growing Demand For UV Adhesives In The Electronic Industry
Growing demand for UV adhesives in the electronic industry is expected to propel the growth of the UV adhesives market going forward. The electronic industry refers to a broad and dynamic sector of the global economy that encompasses the design, development, manufacturing, and distribution of electronic components, devices, and systems. UV adhesives offer exceptional precision in joining various electronic components, ensuring reliable and long-lasting performance in a wide range of devices. For instance, in January 2023, according to the annual financial report 2022 published by LG, a South Korea-based consumer electronics company, LG earned its highest annual revenue ever, an increase of 12.9% from 2021, when sales for the first time exceeded $52.70 billion. The revenue for the LG Home Appliance & Air Solution Company in 2022 was $22.5 billion, an increase of 10.3% from the previous year. Therefore, the growing demand for UV adhesives in the electronic industry is driving the growth of the UV adhesives market.
Competitive Landscape:
Major companies operating in the uv adhesives market report are BASF SE, Dow Inc., Mitsubishi Chemical Holdings, 3M Company, Henkel AG & Co. KGaA , ITW Performance Polymers, Arkema SA, Sika AG, Avery Dennison Corporation , Huntsman Corporation, H.B. Fuller, Altana AG, Flint Group, Ashland Inc., Toyo Ink Group, Toagosei Co. Ltd., Lord Corporation, ThreeBond Holdings Co. Ltd., Mactac, L&L Products, Dymax Corporation, Chemence Inc., Epoxy Technology Inc., DELO Industrial Adhesives, Panacol-Elosol GmbH , MG Chemicals, Permabond Engineering Adhesives, Beacon Adhesives Inc., Master Bond Inc., Parson Adhesives Inc., Uvexs Inc.
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Top Trend - Increasing Focus on Introducing Specialized One-Step UV Cure Epoxy Adhesives To Gain A Competitive Edge
Major companies operating in the UV adhesives market are increasing their focus on introducing specialized one-step UV cure epoxy adhesives to gain a competitive edge in the market. A specialized one-step UV cure epoxy adhesive is a type of adhesive that combines the benefits of epoxy adhesive properties with UV curing technology in a single step. It cures rapidly when exposed to UV light, creating a strong and durable bond, making it suitable for applications where quick, reliable bonding is essential. For instance, in July 2023, Henkel AG & Co. KGaA, a Germany-based chemical company, launched Loctite Ablestik NCA 01UV, a one-step cure active alignment UV adhesive that can be cured in a single step with just three seconds of UV LED light exposure. This circumvents the need for oven curing, which saves time and energy and reduces CO2 emissions. The adhesive reaches its full performance and final bond strength with seconds of UV LED irradiation during the fixing step. Loctite Ablestik NCA 01UV is designed specifically for the assembly of high-resolution advanced driver assistance systems (ADAS) cameras and lidar modules, making it an ideal solution for the automotive industry.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. UV Adhesives Market Characteristics
3. UV Adhesives Market Trends And Strategies
4. UV Adhesives Market - Macro Economic Scenario
5. UV Adhesives Market Size And Growth
…..
27. UV Adhesives Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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