UV ADHESIVES MARKET ANALYSIS

UV Adhesives MarketSize and Trends

The global UV Adhesives market is estimated to be valued at US$ 126.48 Mn in 2022 and is expected to exhibit a CAGR of 6.62% over the forecast period (2023-2030).

Figure 1. UV Adhesives Market Value Share (%), By Region, 2022

North America held dominant position in the global UV adhesives market in 2022, accounting for 39% share in terms of value, followed by Asia Pacific and Europe, respectively. Increasing environmental restrictions pertaining to VOC emission has shifted North American adhesives markets in favor of UV adhesives.

Market Trends

Increasing demand for UV adhesives from the Aerospace sector is expected to propel the market growth. Rise in the aerospace industry due to increasing travel and tourism is augmenting the market. This is also attributed to the rise in the investment by the airline industry for enhancing services and growing spending by consumers on the travels. All these factors are driving demand for high performance and novel adhesives that can be used in the bonding of the aerospace components.

The rise in the construction industry coupled with the increased spending by consumers on the home decor due to improving standard of living is expected to augment the market growth. UV adhesives are widely used in the floor tile installation, ceramic tile, prefinished panel installation, etc. Also, the growing demand for various consumer goods such as stationery products and decorative films is further accelerating the market growth of the UV adhesives over the forecast timeframe.

Figure 2. UV Adhesives Market value Share (%), By Product Type, 2022