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UV Adhesives Market to Reach USD 1,222.5 Million by 2021: MarketsandMarkets

Published on 2016-10-03. Author : SpecialChem

The report "UV Adhesives Market by Resin Type (Acrylic, Cyanoacrylate, Epoxy, Silicone, Polyurethane), Application (Medical, Electronics, Glass Bonding, Packaging, Transportation, Industrial Assembly) and Region - Global Forecast to 2021", The UV adhesives market is projected to reach USD 1,222.5 Million by 2021, at a CAGR of 9.15% between 2016 and 2021. The growth of the UV adhesives market is expected to be fueled by the rising demand from end-use industries due to rapid industrialization and expansion of installed capacities.


Rising Demand from End-use Industries Fuels Demand

UV Adhesives Market to Reach USD 1,222.5 Million by 2021

Medical Application: The fastest-growing application segment of the UV adhesives market, in terms of value



Medical is expected to be the fastest-growing segment of the UV adhesives market, in terms of value. The rising demand for adhesives in the medical application segment is fueled by the growth in the medical and surgical devices market to meet the growing demand. Research and development for adhesives, specifically for use in the medical application has led to the introduction of products with enhanced functionality, higher purity, and unique properties.

Electronics was the largest application segment for UV adhesives, in terms of volume, in 2015. The demand for various electronic devices is increasing in developed as well as emerging regions, which is consequently expected to lead to high demand for UV adhesives, as they are used in the manufacturing of several electronic systems.

Asia-Pacific to witness highest growth in the UV adhesive market



Asia-Pacific is expected to witness the highest growth in the UV adhesives market. The increase in demand from domestic and international markets and increase in the use of UV adhesives across medical, glass bonding, and electronics applications is expected to drive the growth of the Asia-Pacific UV adhesives market in the coming years. Countries such as China, South Korea, and Taiwan, which are major hubs for the production of electronic components are expected to drive the growth of the market in Asia-Pacific.

Key market players in the UV adhesive market



Key players operational in the UV adhesives market are Henkel AG & Co. KGaA (Germany), H.B. Fuller (U.S.), Ashland Inc. (U.S.), Dymax Corporation (U.S.), The 3M Company (U.S.), and Permabond Engineering Adhesives (U.K.).

About MarketsandMarkets

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. M&M specializes in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Its 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

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Source: Marketsandmarkets
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