Global UV-cured Acrylic Adhesive Tapes Market Size, Share, Growth and Forecast 2017-2024

This research report offers a comprehensive analysis of the “UV-cured Acrylic Adhesive Tapes Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024“The main objective of this report is to deliver insightful information and clear-cut facts pertaining to the growth trajectories of the market.

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Global UV-cured Acrylic Adhesive Tapes Market: Snapshot

The market for UV-cured acrylic adhesive tapes has been exhibiting steady growth in terms of value as well as demand over the recent past thanks to the flourishing automotive and construction sectors around the world. A surge in building and construction activities, particularly in developing economies, has resulted in a steady demand for UV-cured acrylic adhesive tapes. On the other hand, this market has also been positively impacted by the demand for lighter automobiles. The growing trend of miniaturization of electronic devices has also played a major role in the demand for UV-cured acrylic adhesive tapes.

Transparency Market Research reports that in terms of volume, the global market for UV-cured acrylic adhesive tapes will exhibit a 7.07% CAGR from 2016 to 2024. As far as revenue is concerned, the market is poised to witness a healthy 7.29% CAGR over the course of the forecast period, growing from US$370.4 mn in 2015 to US$691.7 mn by 2024.

Non-foamed Tapes Enjoy Greater Demand while Foamed Tapes Hold Larger Revenue Share

By way of end use, the UV-cured acrylic adhesive tapes market is segmented into building and construction, electrical and electronics, automotive, and aerospace. Accounting for the leading share in terms of demand, the automotive sector emerges as the dominant end-use segment and is anticipated to contribute over US$170 mn by 2024. This can be attributed to the rising demand for lighter automobiles. The demand for UV-cured acrylic adhesive tapes is also rather strong in the electrical and electronics industry.

Product-wise, the UV-cured acrylic adhesive tapes market comprises foamed and non-foamed tapes. With thermally conductive tapes, universal tapes, and flame retardant tapes being the most extensively used non-foamed tapes in the world, this segment holds the leading share in terms of demand. However, in terms of revenue, foamed tapes hold the leading share. One of the main factors that lend non-foamed tapes greater demand as compared to foamed ones is the cost benefits offered by the former.

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Asia Pacific to Outdo North America to Emerge as Leader by 2024

The global market for UV-cured acrylic adhesive tapes has been fragmented on the basis of geography to include North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. In 2015, North America emerged as the front runner in the UV-cured acrylic adhesive tapes market, leading in terms of consumption. The demand for these tapes has been steady in the U.S. and Canada owing to the rise in infrastructural activities and superior facilities available in these countries and North America is expected to register a 6.38% CAGR over the duration of the forecast period.

Nevertheless, despite the strong demand exhibited in the region, North America is slated to lose market share to Asia Pacific and efforts continue in this developing region to stay ahead of the curve. Amounting to an estimated US$224.8 mn by the end of 2024, the APAC UV-cured acrylic adhesive tapes market will gain dominance globally. A rising number of construction activities being carried out in several Asian economies is perhaps the main factor responsible for the future growth of this market.

3M, No-tape Industrial Co. Ltd., tesa SE, Henkel AG & Company KgaA, Scapa Group Plc., Collano Adhesives AG, H.B. Fuller, Eurobond Adhesives Ltd., Denka Co. Ltd., Avery Dennison Corp., Toyochem Co. Ltd., Nitto Denko Corp., and Shin-Etsu Chemical Co. Ltd. are some of the leading participants in a consolidated yet highly competitive global UV-cured acrylic adhesive tapes market.

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