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 global 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.
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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 the 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.
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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.).
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