The intense competition between 3M, Avery Dennison
Corp., Henkel AG & Co. KgaA, tesa SE, and H.B. Fuller signifies
the competitive landscape of the global UV-cured acrylic adhesive
tapes market, finds a report by Transparency Market Research (TMR).
These players together held a share on 80% in this market in 2015.
The rivalry between the leading players is expected
to increase in the coming years. TMR recommends these companies to
strengthen their distribution channels for their sustenance in the
near future.
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As per the research report, the global market for
UV-cured acrylic adhesive tapes, which stood at US$0.37 bn in 2015,
is projected to rise at a CAGR of 7.29% between 2016 and 2024 and
reach a value of US$0.69 bn by the end of the forecast period.
Researchers project the market to cross a shipment volume of 149.32
mn Sq. Mts. by the end of 2024. The demand for UV-cured acrylic
adhesive tapes is greater from the automotive industry than other end
users. With an estimated contribution of US$170.39 mn in revenue by
2024, this segment is likely to remain leading throughout the
forecast period.
North America to Lose Ground to Asia Pacific
In this report, the worldwide market for UV-cured
acrylic adhesive tapes has also been studied on the basis of its
geographical presence. According to it, Asia Pacific, North America,
Latin America, the Middle East and Africa, and Europe are the
prominent regional markets for UV-cured acrylic adhesives tapes
across the world. Driven by the high demand from the U.S. and Canada,
owing to the presence of an advanced infrastructure, North America
has surfaced as the key consumer of UV-cured acrylic adhesives tapes,
globally.
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Although the growth in the North America market for
UV-cured acrylic adhesives tapes will remain strong over the forecast
period, analysts expect it to lose ground to Asia Pacific on account
of the substantial increase in the building and construction
activities in emerging Asian economies. Exceeding North America, the
market in Asia Pacific is likely to gain an amount of US$224.81 mn in
revenues by 2024, states the research report.
Increasing Trend of Miniature Electronic Devices
to Reflect Positively on Demand for UV-cured Acrylic Adhesive Tapes
“The rising the trend of miniaturization of
electronic devices, such as portable personal computers, tablets, and
cell phones, is having a considerable influence on the demand for
UV-cured acrylic adhesive tapes across the world,” says the author
of this research study. The ongoing expansion in the electrical and
electronic industry, thanks to the growing dependence of consumers on
electronic devices, is also projected to boost the adoption of these
tapes remarkably over the next few years.
In addition to this, the rise in the automotive
industry, together with the increasing demand for light automobiles,
will reflect greatly on the global market for UV-cured acrylic
adhesive tapes over the forecast period.
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However, the volatility in the prices of raw
materials and the high cost of advanced machinery may limit the
adoption of these tapes to some extent in the near future, notes the
study.
The study presented here is based on a report by
Transparency Market Research (TMR) titled “UV-cured Acrylic
Adhesive Tapes Market - Global Industry Analysis, Size, Share,
Growth, Trends, and Forecast, 2016 - 2024.”
The global UV-cured acrylic adhesive tapes market
has been segmented as follows:
By Product
- Foamed tapes
- Non-foamed tapes
- Thermally Conductive tapes
- Flame Retardant tapes
- Universal tapes
By End User
- Automotive
- Building & Construction
- Aerospace
- Electricals & Electronics
- Others
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