UV Adhesives Market Regional Analysis:
North American Market Insights
The share of UV adhesives market in North America, amongst the market in all the other regions, is projected to have the highest growth, backed by growing demand for packaging industry, along with e-commerce activities which is further estimated to boost the food industry. With an about 24% rise from the previous year, more than 44 million Americans utilized a food delivery app in 2020. Hence, this is further anticipated to boost the demand for packaging, hence driving the market growth in this region. Aside from that, adhesives are frequently employed in the construction industry owing to their wide range of uses, including roofing, flooring, joinery, and assembling of prefabricated components. Moreover, the rise in manufacturing of automobile is also estimated to drive the market growth in this region. The design and production of automotive and truck parts must adhere to strict standards for precision, quality, safety, dependability, and repeatability. Any bonding technique that doesn't adhere to these conditions is disregarded. As a result, hot melt adhesives are frequently chosen by auto and truck makers to join parts. The manufacture of cars and trucks makes extensive use of hot melt, which offers a reliable, flexible bond, in North America region.
APAC Market Insights
The Asia Pacific UV adhesives market is estimated to be the second largest, to grow at the highest share. The growth of the market in this region can be attributed to increasing use of UV-curable adhesives in packaging, since they outperform traditional adhesives systems. In addition, as domestic consumption and exports of goods rise, so does the demand for packaging across industries such food and beverage, electronics, consumer goods, and others. The expansion of the market is mostly attributable to countries such as South Korea, India, Japan, and China. The expansion of the manufacturing industries is being accelerated by both an increase in the number of manufacturing businesses and a rise in population. Hence, this factor is also estimated to have the significant growth over the forecast period.
Europe Market Insights
Additionally, the UV adhesives market in Europe region is also estimated to have the significant growth over the forecast period, backed by the expanding demand for the packaging, healthcare, and construction sectors. Moreover, the surge in automotive sector is also estimated to have the significant impact on the demand for UV adhesives. Additionally, there has been growing manufacturing of cosmetics owing to the rise in beauty conscious people which is also estimated to boost the market further in this region.
