USD 44.29 million
Report ID: SQMIG15E2365 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 65 | Figures: 66
Curing Adhesives Market size was valued at USD 44.29 million in 2021 and is poised to grow from USD 46.68 million in 2022 to USD 71.10 billion by 2030, growing at a CAGR of 6% in the forecast period (2023-2030).
Curing adhesives are reactive materials which need chemical reactions for converting them from liquid to solid. The adhesives generally provide high strength, flexible to rigid bond lines that resist temperature, humidity, and others after getting cured. They possess a high range of elasticity and are compatible for bonding with high need to the finished product’s aesthetics. The curing adhesives are commonly used in the electronics manufacturing industry due to their properties and process advantages, which are perfect for the manufacturing needs that are required by the current electronic industry players, which includes environmental and health & safety demands, miniaturization, minimizing total product cost, and manufacturing yield improvement.
US Curing Adhesives Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 44.29 million
To get more reports on the above market click here to Buy The Report
Global curing adhesives market is segmented based on the product, resin, and region. Based on product, the market is segmented into UV curing adhesives, moisture curing adhesives, and thermal curing adhesives. Based on resin, the market is segmented as epoxy, silicone, polyurethane, acrylate, and others. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Curing Adhesives Market Analysis by Product
Based on product, the curing adhesives market is segmented into UV curing adhesives, moisture curing adhesives, thermal curing adhesives. The moisture curing adhesive is currently holding the largest product segment. Automotive manufacturing was the major end-use category for the product segment according to the past records.
UV curing adhesives are, however, anticipated to register the highest growth rate as compared to others over the forecast period due to the high rate of applications in medical devices. The application of the product in the electronics and automotive sector for metal fabrication and metal bonding is also assumed to fuel the market growth. It is utilized in the automotive manufacturing sector for permanent effect on automobile parts or equipment.
Cross-linked materials cured with heat or combined heat & pressure are termed as thermal curative agents; where heat curing adhesives do not melt or flow when heated which raises the adhesion of the product to the substrate.
Curing Adhesives Market Analysis by Resin
Based on resin, the market is segmented as epoxy, silicone, polyurethane, acrylate, and others. Acrylate resins dominated the raw material segment in 2020 because of the various key features including the higher bonding power, adhesion, and temperature resistance related with the product lines. Minimal price, and higher flexibility of acrylic resin for UV remedial have increased the acrylate demand.
Polyurethane-based remedial bonding formulations are primarily applied for moisture prevention reasons due to the enriched moisture and temperature resistant property of the material. It, however, emerged as the second most consumed segment by the reason of its improved bonding properties with various materials including steel, floor plates, glass-fiber reinforced plastics (FRP), and others.
To get detailed analysis on other segments, Request For Sample Report
Asia Pacific region held the largest share of the global curing adhesive market in 2021 and expected to retain the largest consumer due to the rising product utilization in construction and electronic industries in the region. Also, the demand in this region is expected to reach a net volume crossing 2,560 kilo tons by 2028.
The North America region is also expected to grow at a significant rate over the forecast period because of rising innovation and technological investments in the region. The stringent regulations regarding the usage of toxic chemical formulations in curative bonding agents in the region is further anticipated in driving the demand for naturally derived products over the forecast period.
Europe is expected to witness average growth rate because of certain stringent regulations by the government of the United Kingdom and Germany for the use of VOC-free raw materials to produce curing adhesive.
The MEA and Latin America are, however, anticipated to grow fast over the said forecast period on account of rising electronic and technological advancement, in countries like Brazil and South Africa.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Increasing Demand in Automotive Industry
Curing adhesives find wide use in the automotive sector for attachment and assembly applications. As the automotive industry continues to progress, there is a growing demand for insubstantial materials, enhanced fuel efficiency, and enhanced organizational integrity. Curing adhesives help attain these objects by bonding components organized and reducing the weight of the vehicle. Additionally, they offer vibration and noise dampening, conducive to a quieter and more relaxed driving experience.
Increasing Adoption in Electronics and Electronics Packaging
The electronics industry depends on curing adhesives for various applications, including semiconductor packaging, printed circuit board assembly, and component bonding. The enlargement of electronic devices and the demand for enhanced routine require advanced adhesive solutions. Curing adhesives offer the electrical insulation properties, required reliability and heat resistance making them essential in the electronics sector.
Curing Adhesives Market Restraints
Stringent Laws to Hinder Market Growth
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
Global curing adhesives market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Curing Adhesives Market Top Player's Company Profiles
Curing Adhesives Market Recent Developments
In June 2023, Dymax introduced the inaugural product in its Hybrid Light-Curable (HLC) adhesive series, known as HLC-M-1000. This innovative formulation, based on a patented technology, merges anionic and free radical chemistries to create a groundbreaking adhesive solution.
In April 2023, Dymax introduced the 1045-M adhesive. This light-curable material, known as MD®, is specifically engineered for the purpose of adhering glass, stainless steel (SS), acrylonitrile butadiene styrene (ABS), and polycarbonate (PC) substrates commonly employed in the assembly of medical devices, such as syringes, single-use apparatus, and injectors.
In December 2022, Dow introduced a new iteration of its V PLUS Perform polyurethane technology for insulated metal panels, known as V PLUS Perform next, with the aim of enhancing its capabilities. This product integrates the excellent fire safety and energy efficiency characteristics of V PLUS Perform while incorporating customized low-carbon and circular ingredients to meet the specific requirements of the customer.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global curing adhesives market analysis, the electronics industry made new innovations such as hybrid vehicles, mobile electronic devices, medical applications, digital cameras, computers, and others which is propelling the growth of curing adhesives by replacing many traditional soldering systems.
After the outbreak of the pandemic in the last few years across regions has resulted in the lockdown of cities, breakdown of transportation networks, and border restrictions, which is further assumed to affect the chemicals & materials network of distribution and the complete pricing, international trade, manufacturing operations, and supply chain negatively.
|Market size value in 2021
|USD 44.29 million
|Market size value in 2030
|USD 71.10 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Curing Adhesives Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Curing Adhesives Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Curing Adhesives Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Curing Adhesives Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.