Growing Emphasis on Fuel Efficiency and Reduced Emissions Driving Adoption of UV-Cured Adhesives in Automotive Sector
Rockville , Sept. 19, 2023 (GLOBE NEWSWIRE) — As per the latest industry analysis by Fact.MR, a market research and competitive intelligence provider, the global UV Cured Adhesives Market stands at a valuation of US$ 4.54 billion in 2023 and is projected to reach US$ 7.75 billion by 2033-end.
The market for UV cured adhesives is exhibiting healthy growth due to the rising demand for quick and effective bonding solutions across various end-use industries. UV-cured adhesives, also referred to as ultraviolet-curing adhesives, are adhesive formulations that cure quickly when exposed to UV light. This quality makes them a preferred choice for applications where rapid bonding and minimal curing time are critical.
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|Forecast Period||2023 – 2033|
|Value Projection (2033)||US$ 7.75 Billion|
|Growth Rate (2023-2033)||5.5% CAGR|
|No. of Pages||170 pages|
|No. of Tables||80 Tables|
|No. of Figures||219 Figures|
Global focus on sustainability and environmental awareness is fueling the adoption of solvent-free and low-VOC (volatile organic compound) adhesives. Ongoing research and development efforts have led to the introduction of improved UV adhesive formulations with enhanced properties, such as higher bond strength, flexibility, and compatibility with various substrates. Electronics, medical devices, automotive, packaging, and construction sectors are widely using UV-cured adhesives due to their versatility and performance benefits.
The medical industry’s growing demand for biocompatible and fast-curing adhesives is generating potential growth opportunities for UV-cured adhesive manufacturers. The automotive sector’s emphasis on weight reduction to enhance fuel efficiency and reduce emissions is driving the use of UV-cured adhesives in bonding lightweight materials.
Key Takeaways from Market Study
- Global demand for UV-cured adhesives is forecasted to increase at a CAGR of 5.5% from 2023 to 2033.
- Sales of UV-cured adhesives in the United States are rising briskly due to the strong presence of key manufacturers.
- Germany is leading the European market for UV cured adhesives due to extensive use in packaging and automotive applications.
- Rapid industrialization and advancements in the electronics sector are contributing to the increased sales of UV-cured adhesives in Japan.
“Emergence of UV LED technology is making UV curing more energy-efficient, environmentally friendly, and cost-effective, thus contributing to increased product sales,” says a Fact.MR analyst.
Key Segments of UV Cured Adhesives Industry Research Report
|By Resin Type||By End-use Industry||By Region|
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Dymax Corporation, Henkel AG & Co. KGaA, H.B. Fuller, and 3M Company are some of the key manufacturers of UV cured adhesives. These market players are offering customized UV adhesive solutions to meet specific end-user requirements and reach a wider consumer base. Strategic partnerships, acquisitions, and regional expansions are also aiding them in maintaining a competitive edge.
Prominent manufacturers of UV-cured adhesives remain dedicated to ongoing research and development endeavors, aimed at engineering novel adhesive formulations featuring enhanced properties. This commitment to innovation drives the expansion of their product offerings, enabling a broader reach across diverse industries and applications. Further fueling their market presence is the establishment of strategic collaborations with distributors and agents, propelling an upward trajectory in sales.
- In April 2023, Dymax Corporation introduced its latest breakthrough – the 1045-M adhesive. Specifically tailored for medical equipment assembly applications, this UV LED curable adhesive stands as a testament to the continuous advancements in UV-cured adhesive technology.
- In March 2022, Delo Industrial Adhesives unveiled its latest innovation Delo Photobond UV Acrylates targeting the optoelectronics sector to expand its product offerings into emerging technology applications.
Key Companies Profiled
3M Company, Beacon Adhesives Inc., Delo Industrie Klebstoffe GmbH & Co. KGaA, Denka Company Limited, Dow Corning Corporation (Dow Chemical Company), Dymax Corporation, Epoxy Technology (Meridian Adhesives Group LLC), H.B. Fuller Company, Henkel AG & Co. KGaA, Master Bond Inc., Panacol-Elosol GmbH, Permabond LLC, Sika AG
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global UV cured adhesives market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights on the market based on resin type (silicone, acrylic, polyurethane, epoxy) and end-use industry (medical, electrical & electronics, transportation, packaging, furniture), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the MEA).
Checkout More Related Studies Published by Fact.MR Research:
Adhesives Market: Global demand for adhesives market was reached US$ 60 Billion in FY 2021, and is poised to register a Y-o-Y expansion rate worth 5% in 2022, reaching US$ 63 Billion.
Pressure Sensitive Adhesives Market: The global pressure sensitive adhesives (PSA) market is estimated to be valued at US$ 60.2 billion in 2023 and it is anticipated to grow at a CAGR of 5.8% to reach US$ 105.7 billion by the end of 2033.
Structural Adhesives Market: Worldwide consumption of structural adhesives is predicted to increase at a CAGR of 6.7% from 2022 to 2032. The global structural adhesives market stands at a value of US$ 14.74 billion in 2022 and is estimated to bring in revenue of US$ 28.2 billion by the end of 2032.
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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