The electronics and medical sectors, which account for the majority of the industry, are driving growth in the UV cured adhesives market. Medical applications are expected to drive the market in the short term, due to the demand for UV cured adhesives for quick ventilator assembly lines and swab manufacture.
The analysis from Fact.MR also discusses how electronics, packaging, and optical applications are expected to increase at a steady rate over the long term. There’s also a timeline and discussion of how East Asia and South Asia are expected to overtake North America and Europe in this arena in the next ten years.
UV Cured Adhesives Market Key Takeaways
Acrylic resin accounts for roughly 38% of the global market for UV-cured adhesives.
In 2020, the electronics application is predicted to dominate market revenue, but by 2030, it is expected to lose 350 BPS in market share.
During the projected period of 2020-2030, the packaging application end use segment is expected to lose roughly 308 BPS.
Europe has a dominant position in the global UV cured adhesives industry, with Germany leading in terms of demand.
East Asia is expected to dominate the worldwide UV cured adhesives market over the next 10 years.
Impact of COVID-19 on the UV Cured Adhesives Market
Due to the COVID-19 epidemic, demand from a majority of industries such as electronics, optics, packaging, and others has decreased, slowing the worldwide UV cured adhesives market. With an increase in manufacturing activity throughout the electrical and electronics industries, the UV cured adhesive is expected to see a favourable effect over time.
In order to stay competitive, companies like Delo and Dymax have used the production capability curve to expand their medical UV cured adhesives for ventilator quick assembly lines. This demonstrates market adaptability during a downturn.
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