Radiation cured adhesives are manufactured by the process of radiation curing that uses UV light or electrons to induce polymerization. This process of curing requires less time as compared to heat cured adhesives and thus reduces the overall production cost. Radiation cure adhesives offer high transparency, adhesion and flexibility in designing products. Major applications of radiation cured adhesives include dental fillings, laminating adhesives, pressure sensitive decals & labels, potting, construction, interiors, wood & furniture among others. The radiation curing process does not use solvents in the curing process that makes it an environment compliant technology. Various advantages of this technology are low energy consumption, instant curing, reduction in waste, higher productivity and no release of volatile organic compounds. Due to rising environmental issues, the companies in adhesives market are focusing on providing sustainable solutions that include radiation cured adhesives.
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Rising demand from building & construction industry is expected to drive the radiation cured adhesives market. Growing population and increasing construction activities in developing countries is driving the building & construction industry. In addition, growing investments to improve existing infrastructure and to develop new infrastructure is driving the building & construction industry. Further, stringent environmental regulations encouraging the use of environment-friendly technologies are expected to fuel the market growth. Improving existing infrastructure facilities coupled with government regulations that compel to build energy efficient infrastructure in developed countries is further boosting the market growth. Radiation curing process does not include any solvents and releases no volatile organic compounds that make it an environment-friendly product.
However, rising raw material prices and occupational hazards may hamper the market growth. Working conditions are highly stringent as it involves radiation which may have adverse effects on human health. In addition, price of the end product is high as compared to head cured products which may inhibit the market growth. Development of bio-based material and new applications areas such as medical components assembly is expected to provide immense opportunities for the players in radiation cured adhesives market in the near future. Bio based materials include naturally occurring polymers and processing of biological material to manufacture end product. Medical packaging, DVD lamination and food packaging are some of the upcoming applications.
Asia Pacific was the largest consumer of radiation cured adhesives followed by Europe. Growing construction activities and use of wood for various applications is expected to drive the market in this region. Companies are focusing on emerging economies such as China and India for setting up production facilities due to high demand,cheap labor and availability of raw materials. The companies from developed countries are shifting their manufacturing plants to China owing to low production cost and growing market. Japan had second largest market share in Asia Pacific region due to demand from packaging and electronics industry. Environment related regulations in Europe is expected to fuel the market for radiation cured adhesives due to energy efficient manufacturing process and less environmental impact. The demand for radiation cured adhesives is expected to growat a substantial rate in North America owing to energy efficient infrastructure building & construction activities and growing food packaging industry.
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Some of the key players in this market include Bayer Material Science AG, Dexerials Corporation, Cytec Industries, BASAF SE, Ashland Inc., Flint Group, Lord Corporation, Evonik Industries, Fujifilm Sericol U.S.A. Inc., DIC Corporation, Dymax Corporation, PPG industries, Royal Adhesives & Sealants, and Royal DSM N.V. Vorporation among others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
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- Current market trends
- Market structure
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This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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