UV Adhesive Market : A Strong Growth Outlook from 2023 to 2035
Research Nester assesses the growth and market size of global UV adhesive market which is anticipated to be on account of growing market for consumer electronics owing to rise in spending on technologies by consumer.
Research Nester’s recent market research analysis on “UV Adhesive Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global UV adhesive market in terms of market segmentation by product, end-user and by region.
Rise in Construction Activities to Boost Growth of Global UV Adhesive Market
The global UV adhesive market is estimated to grow on account of rising construction activities. From 2002 and 2021, investments in public housing construction in the US saw a huge growth in value. The public sector invested more over USD 10 billion in residential construction projects in 2021. As a result, it is predicted that demand for UV adhesive would rise. Polymer adhesive, hot melt adhesive, acrylic adhesive, resin adhesive, and other varieties of adhesive are some of the types utilized in construction. They frequently work with materials including glass, fabric, and wood. Also, the construction sector prefers them particularly for their water resistivity. It is also predicted that rising consumer technology spending would fuel the growth of the consumer electronics market. In 2023, consumers worldwide are projected to spend over 500 billion US dollars, or about 3% more than in 2018, on both established and emerging technology. UV adhesives immediately cure when exposed to strong UV light and are extensively employed as adhesives in the production of electronics. The demand for UV adhesive is therefore anticipated to rise along with the electronics market.
Also, there is a rising demand for environmentally friendly adhesive. If liquid adhesive leftovers are not properly disposed of utilizing a hazardous waste collection system, they may wind up poisoning the soil and eventually the groundwater. This poses serious health risks to everyone who comes into contact with it and could result in the extinction of plant and animal life. In addition, water pollution from UV adhesive’s solvent contamination of the water is a possibility. As a result, numerous manufacturers are doing research and preparing to release their environmentally friendly adhesive on the market.
Some of the major growth factors and challenges that are associated with the growth of the global UV adhesive market are:
Growth Drivers:
- Growing Adoption of Smartphones
- Surge in Manufacturer of Medical Products
Challenges:
Human exposure to adhesive must be prevented. Certain adhesives interact with the substrate in ways that make them dangerous to breathe in. There is a huge risk to life when sniffing glue. Even if the result is not fatal, glue and other inhalants pose the risk of serious breathing problems and brain damage. Additionally, exposure to the compounds in glue may cause an erratic heartbeat. Sometimes, the irregular heartbeats could result in deadly heart failure. It is known as sudden sniffing death syndrome and could occur after just one attempt (SSDS). As a result, it is predicted that this factor would slow market expansion. Moreover, government is setting strict regulations, since the use of UV adhesive found to be leading VOC emission.
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By end-user, the market for UV adhesive is segmented into medical, electronics, automotive, cosmetics, and industrial assembly. Amongst these segments, the medical segment is anticipated to generate the highest revenue by the end of 2035, backed by growing manufacturing of medical devices. Medical devices typically include items including hydrogels, medicine patches, dialysis equipment, hearing aids, and more. The demand for these devices is anticipated to rise as the need for treatment increases. Also, producers are working to resolve a variety of issues with medical devices. Some of these challenges include the need for permanent joining and high-precision production in the materials used for bonding, as well as health compatibility. Moreover, medical supplies must withstand multiple sterilization processes, which increases the necessity for strong bonding. As a result, it is predicted that demand for UV adhesive would rise.
By region, the North America UV adhesive market is estimated to grow at the highest share by the end of 2035. The growth of the market in this region can be attributed to growing demand for packaging industry, along with e-commerce activities which is further estimated to boost the food industry. So, it is projected that this would increase packaging demand even more, fueling the expansion of the market in this area. In addition, adhesives are frequently used in the construction sector owing to their diverse variety of applications, which include roofing, flooring, joinery, and the assembly of prefabricated components. Also, it is predicted that an increase in automotive production would fuel market expansion in this area. Automotive and truck parts must be designed and produced in accordance with stringent standards for accuracy, quality, safety, dependability, and repeatability. Any bonding method that doesn’t follow these guidelines is rejected. As a result, auto and truck manufacturers typically select hot melt adhesives to link pieces. In North America, the production of cars and trucks makes substantial use of hot melt, which provides a dependable, adaptable bond.
This report also provides the existing competitive scenario of some of the key players of the global UV adhesive market which includes company profiling of 3M, Permabond Engineering Adhesives, H.B. Fuller Company, Dow, Henkel Adhesives Technologies, Dymax Corporation, Ashland Inc., Epoxy Technology, Inc., Sika Group, and BASF SE.
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