Global UV-cured Acrylic Adhesive Tapes Market: Snapshot
The market for UV-cured acrylic adhesive tapes has been exhibiting steady growth in terms of value as well as demand over the recent past thanks to the flourishing automotive and construction sectors around the world. A surge in building and construction activities, particularly in developing economies, has resulted in a steady demand for UV-cured acrylic adhesive tapes. On the other hand, this market has also been positively impacted by the demand for lighter automobiles. The growing trend of miniaturization of electronic devices has also played a major role in the demand for UV-cured acrylic adhesive tapes.
Transparency Market Research reports that in terms of volume, the global market for UV-cured acrylic adhesive tapes will exhibit a 7.07% CAGR from 2016 to 2024. As far as revenue is concerned, the market is poised to witness a healthy 7.29% CAGR over the course of the forecast period, growing from US$370.4 mn in 2015 to US$691.7 mn by 2024.
Non-foamed Tapes Enjoy Greater Demand while Foamed Tapes Hold Larger Revenue Share
By way of end use, the UV-cured acrylic adhesive tapes market is segmented into building and construction, electrical and electronics, automotive, and aerospace. Accounting for the leading share in terms of demand, the automotive sector emerges as the dominant end-use segment and is anticipated to contribute over US$170 mn by 2024. This can be attributed to the rising demand for lighter automobiles. The demand for UV-cured acrylic adhesive tapes is also rather strong in the electrical and electronics industry.
Product-wise, the UV-cured acrylic adhesive tapes market comprises foamed and non-foamed tapes. With thermally conductive tapes, universal tapes, and flame retardant tapes being the most extensively used non-foamed tapes in the world, this segment holds the leading share in terms of demand. However, in terms of revenue, foamed tapes hold the leading share. One of the main factors that lend non-foamed tapes greater demand as compared to foamed ones is the cost benefits offered by the former.
Asia Pacific to Outdo North America to Emerge as Leader by 2024
The global market for UV-cured acrylic adhesive tapes has been fragmented on the basis of geography to include North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. In 2015, North America emerged as the front runner in the UV-cured acrylic adhesive tapes market, leading in terms of consumption. The demand for these tapes has been steady in the U.S. and Canada owing to the rise in infrastructural activities and superior facilities available in these countries and North America is expected to register a 6.38% CAGR over the duration of the forecast period.
Nevertheless, despite the strong demand exhibited in the region, North America is slated to lose market share to Asia Pacific and efforts continue in this developing region to stay ahead of the curve. Amounting to an estimated US$224.8 mn by the end of 2024, the APAC UV-cured acrylic adhesive tapes market will gain dominance globally. A rising number of construction activities being carried out in several Asian economies is perhaps the main factor responsible for the future growth of this market.
3M, No-tape Industrial Co. Ltd., tesa SE, Henkel AG & Company KgaA, Scapa Group Plc., Collano Adhesives AG, H.B. Fuller, Eurobond Adhesives Ltd., Denka Co. Ltd., Avery Dennison Corp., Toyochem Co. Ltd., Nitto Denko Corp., and Shin-Etsu Chemical Co. Ltd. are some of the leading participants in a consolidated yet highly competitive global UV-cured acrylic adhesive tapes market.
Global UV-cured Acrylic Adhesive Tapes Market: Overview
Acrylic adhesive tapes are formed with an acrylic polymer base that is coated on a backing material or carrier. The adhesive is applied either on one side or both in order to temporarily or permanently join two overlapping materials. One of the techniques used to produce these pressure-sensitive tapes is UV curation, which enables improved manufacturing without requiring solvents.
Typically, foamed tapes have double coating of high-performance acrylic adhesives. Thermally conductive tapes possess properties such as good thermal transfer, insulation and high temperature resistance. Flame retardant tapes are heat resistant and acts a barrier between flames and core system of a material. Universal tapes have single-side coating and are easy to apply with tear-proof systems.
Rising pressure to use chemicals emitting a low content of VOC is the key reason for research and development of UV-cured adhesives and their applications in various industries. Players shifting their focus onto the development of new products is projected to offer significant opportunities in the near future.
Production of UV-cured acrylic adhesive tapes requires specialized machinery with advanced technology for proper application of UV-cured adhesives. Their development and adoption in the market (because of their low to almost zero content of volatile organic compounds (VOCs)) is the result of stringent regulations on the usage of chemicals emitting VOCs.
Global UV-cured Acrylic Adhesive Tapes Market: Scope of the Study
The report estimates and forecasts the UV-cured acrylic adhesive tapes market on the global and regional levels. The study provides forecast between 2016 and 2024 based on volume (million sq. mts./thousand sq. mts.) and revenue (US$ Mn) with 2015 as the base year. The report comprises an exhaustive value chain analysis for each of the segments. It provides a comprehensive view of the market. Value chain analysis also offers detailed information about value addition at each stage.
The study includes drivers and restraints for the UV-cured acrylic adhesive tapes market along with their impact on demand during the forecast period. The study also provides key market indicators affecting the growth of the market. The report analyzes opportunities in the UV-cured acrylic adhesive tapes market on the global and regional level. Drivers, restraints, and opportunities mentioned in the report are justified through quantitative and qualitative data. These have been verified through primary and secondary resources. Furthermore, the report analyzes substitute analysis of UV-cured acrylic adhesive tapes and global average price trend analysis.
The report includes Porter’s Five Forces Model to determine the degree of competition in the UV-cured acrylic adhesive tapes market. The report comprises a qualitative write-up on market attractiveness analysis, wherein end-users and regions have been analyzed based on attractiveness for each region. Growth rate, market size, raw material availability, profit margin, impact strength, technology, competition, and other factors (such as environmental and legal) have been evaluated in order to derive the general attractiveness of the market. The report comprises price trend analysis for UV-cured acrylic adhesive tapes between 2016 and 2024.
Global UV-cured Acrylic Adhesive Tapes Market: Segmentation
The study provides a comprehensive view of the UV-cured acrylic adhesive tapes market by dividing it into product, application and geography segments. The products have been segmented into foamed tapes and non-foamed tapes. Non-foamed tapes are further classified into thermally conductive tapes, flame retardant tapes and universal tapes. The applications are segmented into automotive, building & construction (B&C), aerospace, electricals & electronics (E&E) and others. These segments have been analyzed based on historic, present, and future trends.
Regional segmentation includes the current and forecast consumption of UV-cured acrylic adhesive tapes in North America, Latin America, Europe, Asia Pacific, and Middle East & Africa (MEA). Market segmentation includes demand for consumption in all the regions individually.
Secondary research sources that were typically referred to include, but were not limited to, company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings. Other sources such as internal and external proprietary databases, statistical databases and market reports, news articles, national government documents, and webcasts specific to companies operating in the market have also been referred for the report.
In-depth interviews and discussions with a wide range of key opinion leaders and industry participants were conducted to compile this research report. Primary research represents the bulk of research efforts, supplemented by extensive secondary research.
Global UV-cured Acrylic Adhesive Tapes Market: Competitive Outlook
The report covers detailed competitive outlook that includes market share and profiles of key players operating in the global market. Key players’ product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. This helped in validating and strengthening secondary research findings. Primary research further helped in developing the analysis team’s expertise and market understanding.
Key players profiled in the report include 3M, Avery Dennison Corporation, Denka Company Limited, Henkel AG & Company KGaA, and Shin-Etsu Chemical Co. Ltd. and Others. Company profiles include attributes such as company overview, number of employees, brand overview, key competitors, business overview, business strategies, recent/key developments, acquisitions, and financial overview (wherever applicable).
The global UV-cured acrylic adhesive tapes market has been segmented as follows:
UV-cured Acrylic Adhesive Tapes Market – Product Analysis
- Foamed tapes
- Non-foamed tapes
- Thermally Conductive tapes
- Flame Retardant tapes
- Universal tapes
UV-cured Acrylic Adhesive Tapes Market – End User Analysis
- Building & Construction
- Electricals & Electronics
UV-cured Acrylic Adhesive Tapes Market – Regional Analysis
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa