The global UV adhesives market is on track to surpass a valuation worth USD 1.5 billion by 2022, with a 9.5% CAGR during the forecast period of 2016-2022. Market Research Future (MRFR) read it closely to understand factors that can boost the market outcome. These factors are mostly the end user industries that are extending their operational scope to increase the UV adhesives market results. End user industries like glass bonding, electronics & packaging, medical & pharmaceuticals, and industrial application are expected to impact the market in a strong way. The growing e-commerce activity is boosting the packaging & laminating sector. Growing funding in the research and development sector is expected to boost the market further. However, the environmental impact of the product may hold back the growth.
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MRFR’s detailed segmentation of the UV adhesives market reveals various segments like product type and application. The study reveals several insights regarding the market to ensure a better growth rate for the market in the coming years. This will also help in better strategy-making policies.
By product type, the global market for UV adhesives market has been segmented by epoxy, acrylic, cyanoacrylate, silicone, and polyurethane. The epoxy segment is getting significant thrust from the global market. Various end users are also creating substantial growth opportunities for the silicone segment. The polyurethane segment is also expecting a boost.
By application, the global market for UV adhesives can be segmented into glass bonding, electronics & packaging, medical & pharmaceuticals, industrial application, and packaging and laminating. The medical & pharmaceuticals segment is getting a decent boost from the global market. Various industrial applications are also bolstering the global demand for the market. In developing countries, the demand is greater for the growing business of electrical and packaging sector.
The global market study of the UV adhesives is to open up market growth pockets that can be utilized to increase the revenue. This segmentation is boosting the market understanding in accordance with various demographic challenges.
The Asia Pacific market is getting a boost from various burgeoning end-user industries that can help in devising better plans. The booming electronics & packaging sector of China, Japan, and South Korea is expected to trigger a hike in revenues. Various healthcare companies are setting up their plants in the region, which will help the market in profiting from the medical & pharmaceutical segment.
In Europe, the demand is getting traction from several top companies from the medical & pharmaceutical companies. The robust industrial sector in countries both Europe and North America is expected to boost the outcome of regional markets.
The global UV adhesives market is all set to benefit from various tactical moves launched by companies like BASF SE, Henkel AG, Ashland, H.B. Fuller, 3M Company, Permabond Engineering Adhesives, Bostik, Huntsman Corporation, Epoxy Technology, Dow Chemical, and others. These companies are employing diverse methods like mergers, acquisitions, collaborations, hike in investment for better research facilities, innovation, branding, and others to grab their preferred spot in the market and help it move ahead at a substantial speed. MRFR listed these recent endeavors tried to reveal various aspects of the market to help in increasing the profit margin.
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