ALBANY, N.Y., Sept. 21, 2020 /PRNewswire/ -- Escalating urbanization trends across the globe are leading to a boom in the construction sector. This aspect may bring tremendous growth prospects for the UV adhesives market during the assessment period of 2020-2030. The increasing demand for UV adhesives across the flexible packaging sector is also laying a red carpet of growth. Innovations in the medical sector may also sow the seeds of growth.
According to the TMR (Transparency Market Research) analysts, the global UV adhesives market is extrapolated to record a CAGR of ~8 percent through the forecast period of 2020-2030. The global UV adhesives market is expected to reach a valuation of ~US$ 900 mn by the end of the forecast period.
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The recent developments regarding the use of UV adhesives in the healthcare sector look promising in terms of imparting exponential growth for the UV adhesives market. The electronics sector further contributes substantially to the growth of the UV adhesives market. Various government initiatives like 'Digital India' are helping to escalate the production of electronics, eventually serving as a growth accelerator for the UV adhesives market.
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UV Adhesives Market: Transparency Expert Diagnosis
The analysts at TMR attribute the growth of the UV adhesives market to the technological advancements taking place for long. Advancements like nanotechnology have enabled extensive development according to the analysts.
The analysts also highlight the growth threats surrounding the UV adhesives market. A short lull in growth is expected to be observed due to the COVID-19 outbreak according to the analysts at TMR. The analysts at Transparency Market Research expect Asia Pacific to serve as a promising region during the forecast period of 2020-2030 due to modernization and infrastructure development.
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UV Adhesives Market: Major Findings
- The acrylate resin segment acquired a major share in 2019 and is estimated to continue the same from 2020 to 2030
- The transportation segment comprised more than 25 percent in 2019
- The building and construction segment is projected to witness growth at a rapid rate
- Asia Pacific dominated the regional landscape of the UV adhesives market in 2019 and expects to continue the same during the forecast period
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UV Adhesives Market: Growth Propellers
The properties of UV adhesives make it one of the best options for many end-users, thus increasing its global demand.
- Expansion of production facilities due to rising demand is giving shape to the growth of the UV adhesives market
- The heightening demand for eco-friendly adhesives is bringing extensive growth for the UV adhesives market
- The utilization of UV adhesives as sealing agents to avoid oxidation and corrosion may serve as a prominent growth aspect for the UV adhesives market
How is Electronics Industry Imparting Growth to UV Adhesives Market?
The electronics industry is witnessing tremendous development over the years mainly due to the popularity of items like smartphones, televisions, and others among a large populace. The rising disposable income of individuals in developing and densely-populated countries is also letting the electronics industry to take leaps of success. This aspect is estimated to bring expansive growth for the UV adhesives market.
The production of electronic equipment increased by 2.6 percent and 0.4 percent respectively in Japan in 2018 compared to the previous year. These statistics shed light on the heightening revenue of the electronics industry and also the rising demand for UV adhesives.
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Global UV Adhesives Market: Segmentation
- Others (including Cyanoacrylate)
- Building & Construction
- Electrical & Electronics
- Industrial Assembly
- Others (including Personal Care)
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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Isononyl Acrylate Market - Factors such as expensive nature of isononyl acrylate and availability of cheaper substitutes such as 2EHA, butyl acrylate, methyl acrylate and ethyl acrylate are anticipated to hinder the growth of the isononyl acrylate market during the forecast period. Furthermore, High cost of production and long lead time are also expected to significantly obstruct the growth of the global isononyl acrylate market during the forecast period.
Bio-emulsion Polymers Market - The global bio-emulsion polymers market was valued at US$ 900 Mn in 2019 and is anticipated to expand at a CAGR of 7% from 2020 to 2030. Rise in demand for bio-emulsion polymers in the paints & coatings application is driving the global bio-emulsion polymers market. Europe accounted for a significant share of the global bio-emulsion polymers market in 2019. The bio-emulsion polymers market in the region is expected to expand at a CAGR of more than 7.5% during the forecast period. In terms of value, the bio-emulsion polymers market in Asia Pacific is anticipated to expand at a rapid pace of more than 7.6% by the end of the forecast period.
Adhesive Remover Market - The major drivers of the global adhesive remover market are construction, transportation, & consumer applications, technological advancements in end-use industries, and high demand for global adhesive remover market from the Asia-Pacific region. Volatility in raw material prices is the restraining factor for the global adhesive remover market. Stringent and time-consuming regulatory policies is the major challenge for the global adhesive remover market. Green & sustainable Adhesive Remover are presenting the opportunities global adhesive remover market.
Low-VOC Adhesives Market - Polyvinyl acetate (PVA) emulsion is expected to be the leading segment of the global low-VOC adhesives market during the forecast period. PVA emulsions are eco-friendly and they are widely used in adhesives as synthetic resins. PVA emulsions have superior properties such as waterborne nature, low content of VOCs, and excellent adhesion to different substrates. PVA emulsions have a variety of packaging applications such as bookbinding, paper bags, cartons, labels, foils, films, paperboard decals, wood assembly, automobile upholstery, and leather binding. In terms of end-use industry, the low-VOC adhesives market has been classified into paper & packaging, building & construction, woodworking, transportation, consumer, and others.
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