UV Cured Adhesives Market to Expand 2.1x with Growing Demand from Medical Device Industry

NEW YORK, Dec. 3, 2021 /PRNewswire/ -- After witnessing a moderate growth rate of 6.7% over the past half-decade, the global UV cured adhesives market is poised to expand by 2.1x between 2020 and 2030, opines Fact.MR. NEW YORK,Dec. 3, 2021/PRNewswire/ -- After witnessing a moderate growth rate of 6.7% over the past half-decade, the global UV cured adhesives market is poised to expand by 2.1x between 2020 and 2030, opines Fact.MR. Surging demand from electronics, packaging, optical and...

NEW YORK, Dec. 3, 2021 /PRNewswire/ -- After witnessing a moderate growth rate of 6.7% over the past half-decade, the global UV cured adhesives market is poised to expand by 2.1x between 2020 and 2030, opines Fact.MR.

Surging demand from electronics, packaging, optical and medical industries is primarily driving the UV cured adhesives market.

UV cure adhesives use UV light or any other radiation source to initiate the curing process. They are utilized in wide range of industrial applications due to their excellent properties including speed of cure, exceptional stability, low energy use and ability to bond even dissimilar surfaces.

UV curing has emerged as an ideal and cost-effective method for bonding medical devices. Hence, rising demand for medical devices across the globe is accelerating the growth in UV cured adhesives market.

Further, expanding scope of UV cured adhesives in flexible packaging is supporting the market growth and the trend is likely to continue in the future. Manufacturers are employing new UV curing systems to make the process quicker and effective. On account of this, adoption of these advanced systems will bode well for the market.

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As per Fact.MR, acrylic segment is projected to account for around 40% of the UV cured adhesives market, owing to higher product penetration across regions. Besides this, factors such as manufacturers' production feasibility, price points, and range of applications enhance the product stance in the market.

Regionally, Europe is expected to dominate the UV cured adhesives market due to increasing adoption of UV cured adhesives across medical device and electronics industries. However, East Asia is anticipated to take over the spotlight and emerge as the most lucrative market for UV cured adhesives over the forecast period.

"Blooming medical device industry and electronics is creating new growth avenues within UV cured adhesives market. In order to capitalize on this trend, manufacturers are adopting various strategies such as product portfolio expansion, price reduction, and integration of new technologies," says a Fact.MR analyst

Key Takeaways from UV Cured Adhesives Market Survey

Key Drivers

Key Restraints

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Competitive Landscape

As per Fact.MR, the global UV cured adhesives market is highly fragmented in nature with tier-1 market players. Top tier-1 players include Henkel, 3M, Denka, and Delo, accounting for more than 40% of global production of UV cured adhesives. 

Key players are rigorously investing in research and development activities to expand their product portfolio. Besides this they have also adopted various strategies such as mergers, new product launches, partnerships, collaborations, and expansion of production plants to dominate the market.

Some of the prominent players operating in the UV cured adhesives market profiled by Fact.MR are:

More Insights on the Global UV Cured Adhesives Sales Outlook

Fact.MR provides an unbiased analysis of UV cured adhesives market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for UV cured adhesives with a detailed segmentation on the basis of:

Resin Type

Form

Application

Key Questions Covered in the UV Cured Adhesives Market Outlook Report

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Two Component Adhesives Market Scope- Two-component adhesives are well-known for their strong adhesive strength and heat resistance, and they are used in a variety of applications, including automotive and construction. Market companies are capitalizing on the automotive industry's lightweight and strong trend to drive sales of revolutionary two-component adhesives. The two component adhesives market is growing due to increased demand from the construction industry. Two component adhesives have replaced traditional binding and adhering technologies such as mechanical pins, riveting, and welding, resulting in significant growth.

Moisture Curing Adhesives Market Insights - Moisture curing adhesives are expected to grow in popularity because to their widespread use in the construction and automotive industries. Moisture curing adhesives are in high demand in a number of end uses and industrial applications because they are a key part of validated coating solutions such as primers and other intermediate coatings. Moisture curing adhesives' capacity to absorb atmospheric moisture, which prevents corrosion, is a key factor driving market expansion. Depending on the application and formulation, they range from rigid and hard to flexible and soft.

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