UV Cured Adhesives Market is Set to Swell 2.1X During Forecast Period 2021-2031
The impact of the COVID-19 outbreak has compelled several manufacturers and industries to rethink their operations to gradually recover from the losses incurred for years to come. The organic chemicals industry suffered a huge setback due to halted production and a limited supply of raw materials.
The report offers actionable and valuable market insights of UV Cured Adhesives. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of UV Cured Adhesives Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of UV Cured Adhesives market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of UV Cured Adhesives
This newly published and insightful report sheds light on Market Insights of UV Cured Adhesives, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of UV Cured Adhesives Market.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales in the UV cured adhesives market across the globe.
A comprehensive estimate on the UV cured adhesives market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of UV cured adhesives during the forecast period. Price point comparison by region with global average price is also considered in the study.
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UV Cured Adhesives Market: Key Strategies of Manufacturers
The global UV cured adhesives market is highly fragmented in nature. Henkel, 3M, Denka, and Delo are the only key market players in tier-1, accounting for more than 40% of global production of UV cured adhesives. Players have adopted organic strategies in prominent growth regions. For instance, in FY2020, Dymax utilized the opportunity and leveraged medical UV cured adhesives to ventilator assembly lines in the United States.
UV Cured Adhesives Market Insights by Application
UV cured adhesives are significantly consumed in the electronics industry, and this segment captures nearly 40% of global demand. Increasing need for rapid assembly lines in the electronics industry has forced manufacturers to optimize production lines, which could be rectified by adjusting production parameters such as capital and labor.
Manufacturers in the electronics industry have adopted UV cured adhesives in order to enhance production rates. In FY2020, Delo (Adhesive manufacturer) and Muhlbauer (Equipment manufacturer) collaborated to supply rapid RFID inlays production lined to Impinj, which included UV cured adhesives as a key component. This development in the industry provides an image of rapid inculcation of UV cured adhesives in assembly lines in the electronics industry.
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Key Takeaways from UV Cured Adhesives Market
- Acrylic resin type captures nearly 38% of the global UV cured adhesives market.
- Medical application is the fastest-growing segment in the UV cured adhesives market, owing to integration in manufacturing essential lifesaving equipment such as ventilators.
- Electronics application is set to dominate the market revenue in 2020, but is expected to lose 350 BPS in its market share by 2030.
- The packaging application end use segment is anticipated to lose around 308 BPS during the forecast period of 2020-2030
- Europe holds a leading share in the global UV cured adhesives market, of which, Germany leads as far as demand is concerned.
- Over the next ten years, East Asia is set to capture a prominent share in the global UV cured adhesives market.
- Even though trade restrictions and lockdowns have reduced demand for UV cured adhesives, their use in making ventilators during the COVID-19 pandemic has been an important factor.
“There is higher price elasticity of demand for tier-3 manufacturers, owing to price differentiation,”says a Fact.MR analyst.
Price Factor to Remain Game Changer in Market
The UV cured adhesives market is highly fragmented in nature, with key players in this space, such as Denka Corporation, 3M, Delo Adhesives, Henkel Adhesives, Avery Dennison, Dow Chemicals, Dymax Corporation, Sartomer, Master Bond, Permabond, Arkema, and others. Companies with lower price points have an edge over branded products and will gain the market share of key players such as Henkel, Dow and 3M. Dymax and Delo, being low-capital firms having competitive pricing and products.
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More Valuable Insights on UV Cured Adhesives Market
Fact.MR, in its new report, offers an unbiased Market Analysis of UV Cured Adhesives, Sales and Demand of UV Cured Adhesives, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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