UV Adhesives Market Outlook
Asia Pacific is the fastest growing market due to brisk growth in the medical and electronics industries. This is driven by emergence of this region as a manufacturing hub due to cheap raw material and low labor costs. Increased consumption within the region has also added to the already impressive growth figures.
North America and Europe are the major markets for UV adhesives, given the stringent regulations in place related to VOC content. This has resulted in shift from solvent and heat cure to UV-cured process. Moreover, high industrial efficiency standards have resulted in companies utilizing highly efficient products.
Various countries in Latin America also largely restrict use of VOC adhesives and hence, dependency on UV adhesives is projected to increase. Booming construction and electronics manufacturing is expected to drive UV Adhesive market.
A mixed combination of highly developed and turmoil affected countries are present in this region. Demand for medical equipment and aid due to lifestyle diseases in rich countries such as UAE, Qatar, and Saudi Arabia has increased. Moreover, supply of medical aid to war torn nations of Iraq, Syria and Yemen has boosted medical industry in other regions which act as source.
Ultra Violet (UV) adhesives are adhesives which cure (i.e. toughen or harden by crosslinking) on exposure to UV light. It is a photochemical reaction that eliminates the need for heat or solvents for curing. This method offers various advantages over conventional curing methods such as rapid cure speed and easy application. Enhanced physical properties such as high bond strength, abrasion resistance, and chemical resistance offer better product performance than alternatives. In addition, reduction in cure-in labor and waste further decreases costs.
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The major drivers for UV curing are the demand for cost effective, adaptable and easy application of adhesives. Moreover, the absence of solvent in curing will eliminate any VOC related concerns. The challenges are technical, with oxygen inhibition causing incomplete curing of the adhesive resulting in the formation of a sticky layer on top of the surface.
Acrylic UV adhesives have improved mechanical properties such as impact resistance, surface insensitivity and protection from moisture. They hold the largest market share in the UV Adhesive market. Epoxy UV adhesives can be customized according to product needs. On mixing with carbon, silver and gold in varied amounts, they exhibit various properties such as increased or decreased thermal and electrical insulation, chemical resistance and moisture resistance.
The largest end user industries are medical and electronics. Manufacture of various components of medical equipment is done by using UV-cured adhesives. Moreover, many electronics devices are assembled by using UV-cured adhesives. Glass bonding is an emerging application segment, which is expected to gain major traction in the near future. Adhesive application on special purpose products across all end user industries can be done by UV-curing due to its versatility.
Development of underwater UV Curing will eliminate need for dry docking of vessels in marine industry and work-over operation in subsea equipment in the oil and gas industry. UV-Curing will provide a cost effective alternative to current methods resulting in cost saving of gargantuan proportions. Major players in the UV Adhesives market include Henkel, Permabond, Dymax Corporation, ITW Devcon, MasterBond, and 3M.
UV Adhesives Market Taxonomy
On basis of resin type:Acrylic,Epoxy,Cyanoacrylate,Silicone,Polyurethane,Others
On basis of Application:Medical,Electronics,Packaging,Glass Bonding
Industrial:Power Generation,Chemical Processing,Oil and Gas,Others,Transportation,Others
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