UV Adhesive Market size is estimated to cross USD 2 billion by the end of 2035, growing at a CAGR of 9% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of UV adhesive was over USD 800 million. The growth of the market can be attributed to growing market for consumer electronics owing to rise in spending on technologies by consumer. About 500 billion US dollars, or approximately 3 percent more than last year, is expected to be spent by consumers on both established and new technologies in 2023 globally. When exposed to intense UV light, UV adhesives cure instantly and are frequently used as adhesives in electronics manufacturing. Hence, with growth in electronics market, the demand for UV adhesive is also estimated to increase.
Moreover, the demand for eco-friendly adhesives is also growing. Liquid adhesive residues could end up contaminating the soil and eventually the groundwater if they are not properly disposed of using a hazardous waste collection system. This poses grate health dangers to anyone who comes into touch with it as well as the potential loss of wildlife and plant life. Moreover, potential water contamination might result from UV adhesive. Hence, large number of manufacturers are performing research and planning to launch their eco-friendly adhesive in the UV adhesive market. A study on the eco-efficiency of adhesive labels for long-lasting items was conducted by BASF in 2018: It was discovered that acResin-based adhesives are both more affordable and environmentally friendly than solvent-based adhesives. It was estimated that 100% UV-curable acrylic hotmelt that is low in odor, has high skin compatibility, and has very little volatile organic compounds (VOC).
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
9% |
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Base Year Market Size (2022) |
USD 800 Million |
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Forecast Year Market Size (2035) |
USD 2 Billion |
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Regional Scope |
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End-user (Medical, Electronics, Automotive, Cosmetics, Industrial Assembly)
The global UV adhesive market is segmented and analyzed for demand and supply by end-user into medical, electronics, automotive, cosmetics, and industrial assembly. Out of which, the medical segment is anticipated to garner the highest revenue by the end of 2035. The growth of the segment can be attributed to growing manufacturing of medical devices. Medical devices usually include hearing aids, dialysis machines, medication patches, hydrogels, and more. Owing to the growing need for treatment the demand for these devices is estimated to increase. For instance, according to the World Health Organization, over 5% of the global population, or 430 million people, require rehabilitation to address their debilitating hearing loss (432 million adults and 34 million children). Over 700 million people, or one in ten people, are predicted to have a hearing loss that makes them unable to function by the year 2050. Hence, with the growing demand for hearing aids the UV adhesive market is estimated to boost. Moreover, manufacturers are attempting to overcome a number of difficulties related to medical devices. A few of these difficulties are health compatibility and the need for permanent connecting and high-precision manufacturing in the materials utilized for bonding. Medical items are also required to endure various sterilizing techniques, enhancing the need for robust bonding. Hence, the demand for UV adhesive is estimated to increase.
Product (Silicon, Acrylic, Polyurethane, Epoxy)
The global UV adhesive market is also segmented and analyzed for demand and supply by product into silicon, acrylic, polyurethane, and epoxy. Amongst which, the acrylic segment is anticipated to have a significant growth over the forecast period. Many portions of modern industry depend on acrylic adhesives since they offer strong connections that are a good substitute for rivets or various more mechanical joining methods. Acrylics could be joined together with acrylic adhesives, which are helpful for a variety of surfaces. Acrylic adhesives could either be made of thermoplastics, which could be moulded above a particular temperature, or thermosetting polymers, which can only be made once they have "cured" and cannot be remoulded. Acrylic adhesives have a long history of use owing of their powerful structural adhesive qualities. They could be particularly useful as a low-cost structural adhesive in a variety of projects.
Our in-depth analysis of the global UV adhesive market includes the following segments:
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By Product |
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By End-User |
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North American Market Forecast
The share of UV adhesive market in North America, amongst the market in all the other regions, is projected to have the highest growth, backed by growing demand for packaging industry, along with e-commerce activities which is further estimated to boost the food industry. With an about 24% rise from the previous year, more than 44 million Americans utilized a food delivery app in 2020. Hence, this is further anticipated to boost the demand for packaging, hence driving the market growth in this region. Aside from that, adhesives are frequently employed in the construction industry owing to their wide range of uses, including roofing, flooring, joinery, and assembling of prefabricated components. Moreover, the rise in manufacturing of automobile is also estimated to drive the market growth in this region. The design and production of automotive and truck parts must adhere to strict standards for precision, quality, safety, dependability, and repeatability. Any bonding technique that doesn't adhere to these conditions is disregarded. As a result, hot melt adhesives are frequently chosen by auto and truck makers to join parts. The manufacture of cars and trucks makes extensive use of hot melt, which offers a reliable, flexible bond, in North America region.
APAC Market Statistics
The Asia Pacific UV adhesive market is estimated to be the second largest, to grow at the highest share. The growth of the market in this region can be attributed to increasing use of UV-curable adhesives in packaging, since they outperform traditional adhesive systems. In addition, as domestic consumption and exports of goods rise, so does the demand for packaging across industries such food and beverage, electronics, consumer goods, and others. The expansion of the market is mostly attributable to countries such as South Korea, India, Japan, and China. The expansion of the manufacturing industries is being accelerated by both an increase in the number of manufacturing businesses and a rise in population. Hence, this factor is also estimated to have the significant growth over the forecast period.
Europe Market Forecast
Additionally, the UV adhesive market in Europe region is also estimated to have the significant growth over the forecast period, backed by the expanding demand for the packaging, healthcare, and construction sectors. Moreover, the surge in automotive sector is also estimated to have the significant impact on the demand for UV adhesive. Additionally, there has been growing manufacturing of cosmetics owing to the rise in beauty conscious people which is also estimated to boost the market further in this region.
DoMo Medical Technologies Inc. is Dymax Corporation’s newest sales partner, adding to the company's expanding network of business associates. Dymax is a prominent producer of rapid curing materials and equipment. DoMo Medical, based in Minnesota, would concentrate its efforts on supporting and marketing the sales of Dymax light-curing products to the medical markets in Minnesota and Wisconsin.
By constructing a second production facility at the Ludwigshafen plant in Germany, BASF SE increased its production capacity for UV acrylic hotmelts marketed under the brand name acResin. By doing this, the business improved its standing as the industry's top source of solutions for complex adhesives applications. The new facility, in which BASF made several tens of millions of dollars in investment, is fully operational and could accommodate more production.
Author Credits: Smruti Ranjan, Rajrani Baghel
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