UV cured adhesives are an important component in the production of electronic products. Due to RFID manufacturers’ preference for fast curing adhesives to support rapid assembly lines, UV cured adhesives have gained traction in the RFID inlays market over the last half-decade. UV cured adhesives have found a prominent role in the manufacturing of various electronics goods such as mobile phone boards, computer motherboards, and others, which is expected to provide a long-term stance to the market.
Over the forecast period of 2020-2030, the UV cured adhesives market is expected to grow at a strong CAGR of 7.5 percent.
UV Cured Adhesives Market Outlook by Region
Europe has a sizable share of the UV-cured adhesives market. By the end of the forecast period, however, this trend is expected to reverse, with East Asia set to take over the market leadership. The demand for UV-cured adhesives is currently dominated by Europe, which accounts for more than 35% of global demand. North America is expected to take a quarter of the market share in FY2020, but this is expected to decline by 2030 due to market saturation in the region. East Asia and South Asia are expected to remain important regions in the UV cured adhesives market in the long run.
UV Cured Adhesives Market Key Takeaways
Acrylic resin accounts for nearly 38% of the global market for UV-cured adhesives.
Due to integration in the manufacturing of essential lifesaving equipment such as ventilators, the medical application is the fastest-growing segment in the UV cured adhesives market.
In 2020, the electronics application is expected to dominate market revenue, but by 2030, it is expected to lose 350 BPS in market share.
During the forecast period of 2020-2030, the packaging application end use segment is expected to lose around 308 BPS.
Europe is in the lead.
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