Industry Overview:
UV-curing adhesive is particularly suitable to produce
glassware, glass furniture and acrylic glass, as well as for products in the
optical industry and in medical technology. Loctite provides UV-adhesive with
medical clearance especially for this purpose. Owing to the efficacy the UV
Adhesives demonstrates, it is widely used across a diverse range of industrial
sectors. Based on the industries and its use, UV Adhesives have been bifurcated
such as Epoxy, Acrylic, Cyanoacrylate, Silicone and Polyurethane. Moreover,
recent trends favouring the use of UV adhesives in medical & pharmaceutical
and electronics sector is expected to drive the global UV Adhesive Industry.
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However, lower profit margins due to the usage of high-cost
chemicals and lack of awareness of UV Adhesives among consumer in developing
countries may restrain the Industry in future. Also, the bargaining power of
the supplier is very high for UV adhesives as there are less number of
suppliers available in the Industry. This also impacts the bargaining power of
the buyers to be low. Generally, manufacturers of UV adhesives are in monthly
contract with raw material suppliers of UV adhesives due to high cost of raw
chemical and fluctuation in its price.
Global Key Player:
· Henkel AG
· BASF SE
· 3M Company
· Ashland
· H.B. Fuller
· Permabond Engineering
Adhesives
· Epoxy Technology
· Dow Chemical
· Bostik
· Huntsman Corporation
Competitive Landscape
In competitive landscape, the MRFR studies the key
developments adopted by the companies between 2011 and 2016. Players in this Industry
adopted various strategies to expand their footprint and augment their Industry
share. The key strategies followed by most companies in the global UV adhesive Industry
were agreements and collaborations, mergers and acquisitions, joint ventures
and expansion. Due to rising optical industry and in medical technology in the
U.S., China, Germany and other developing countries, manufacturers in the
region are mostly using the expansion strategy in the global UV Adhesives Market.
Industry/ Innovation/ Related News:
November 2016 – H. B. fuller has launched two new Water-Based
Adhesives, containing a UV fluorescing agent, developed to help corrugators
who are investing to achieve zero defects in their production lines. The new
product launch would help H.B. fuller to attract the consumer and hence
increase its Industry share.
August 2016 – Panasonic Corporation announced that it has
developed a "Time-lagged UV Curing Adhesive (Fine Glue)" suitable for
gluing and assembly of mobile device housings and panels, and will start
mass-producing it in September 2016. This liquid material cures after a certain
amount of time following exposure to UV irradiation, making it easier to carry
out the assembly process and rendering it possible to attach a UV-protection
(UV-proof) panel after irradiation. As this new adhesive can be applied in a
thin width and thick layer, it is suitable for mobile devices that have limited
space for adding adhesive.
July 2017 – Vitralit® UC 6686 is a newly developed light
curable epoxy adhesive from manufacturer Panacol lloking at the growing demand
of UV adhesives in the Industry. Upon exposure to ultraviolet light, it cures
in seconds to form a crystal clear, extremely hard, scratch resistant surface
perfect for dome coatings and for decorating glass and plastics. The
acquisition has been done in order to expand the UV operation in Hong Kong in
order to address the forthcoming demand.
February 2017 – Innovative Chemical Products (the ICP
Group) announced the acquisition of MinusNine Technologies, a leading
formulator and manufacturer of UV/EB coatings, adhesives, primers and specialty
products for graphic arts and industrial applications. MinusNine, headquartered
in Birdsboro, PA, will be integrated into ICP Industrial, Inc., one of the
three divisions of the ICP Group. The acquisition has been done in order to address
the forthcoming demand.
April 2015 – Henkel has agreed to acquire Novamelt
GmbH, a privately owned German company that offers a wide range of hotmelt
pressure sensitive UV adhesives based on thermoplastic rubber under the brand
name Novamelt PS. With this transaction Henkel as leading solution provider
worldwide for adhesives, sealants and functional coatings will further enhance
its competence in the area of hotmelt adhesives.
November 2017 – Covestro has begun operations at a
new production facility for aqueous polyurethane dispersions (PUDs) at its
Dormagen site. Along with a current expansion of production in Barcelona, the
company is thus boosting its capacities in Europe significantly. In order to
meet global demand, Covestro is also building a new facility in China, as well
as planning to resume production in the United States and at the same time
modernizing and expanding facilities there.
Regional Analysis
Geographically, Asia Pacific region accounted largest Industry
share in the Uv Adhesive Industry and expected to dominate during the
forecast period due to growing economies in the region, rise in in medical
& pharmaceutical and electronics sector in the region. China being largest
consumer and manufacturer of UV Adhesives. Growing demand in glass bonding,
electronics, packaging & laminating and industrial application in the
country is expected to drive the UV Adhesive Industry in China. In addition to
this, North America & Europe have witnessed healthy growth owing to rising
packaging & laminating and industrial sector with increasing demand of
epoxy and acrylic based UV adhesives in the region.
https://www.Industryresearchfuture.com/reports/uv-adhesives-Industry-1722
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