According to Transparency Market Research (TMR), the opportunity in the global market for UV-cured acrylic adhesive tapes is likely to expand at a healthy CAGR of 7.29% during the period from 2016 to 2024.
Albany, NY -- (SBWIRE) -- 02/13/2017 -- Global UV-cured Acrylic Adhesive Tapes Market: Snapshot
Of late, the global market for UV-cured acrylic adhesive tapes has been witnessing a tremendous rise in its size and valuation. The increasing trend of the miniaturization of electronic devices and the growing demand for light-weighed automobiles have reflected positively on the sales of UV-cured acrylic adhesive tapes across the world. In addition to this, the constant rise in building and construction activities in emerging nations is likely to boost the demand for UV-cured acrylic adhesive tapes substantially over the forthcoming years.
According to Transparency Market Research (TMR), the opportunity in the global market for UV-cured acrylic adhesive tapes is likely to expand at a healthy CAGR of 7.29% during the period from 2016 to 2024, increasing from US$370.41 mn in 2015 to a value of US$691.71 mn by the end of the forecast period. In terms of volume, the market is expected to progress at a CAGR of 7.07% between 2016 and 2014.
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Demand for Non-foamed Tapes to Remain High
Broadly, foamed and non-foamed tapes are considered as the main products in the worldwide UV-cured acrylic adhesive tapes market, among which the demand for the latter is way higher than the former. The cost benefits offered by non-foamed tapes against the foamed ones can be credited for this scenario. However, revenue-wise, the foamed tapes segment will lead the global market with a majority share during the period of forecast.
Universal tapes, thermally conductive tapes, and flame retardant tapes have surfaced as the most preferred non-foamed tapes across the world. "With nearly 60% share in 2015, universal tapes have been dominating the non-foamed tapes segment and are likely to continue the same over the forecast period," says an analyst at TMR.
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Surpassing North America, Asia Pacific to Become Market Leader
North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa are the prime regional markets for UV-cured acrylic adhesive tapes, worldwide. Of these, North America has emerged as the leading contributor to the global market. The U.S. and Canada have been driving the demand for UV-cured acrylic adhesive tapes in this region, thanks to the superior infrastructural capacities facilitated by a larger geographic area.
Rising at a CAGR of 6.38%, North America market for UV-cured acrylic adhesive tapes is anticipated to continue to witness strong growth during the forecast period. However, this regional market is likely to lose ground to Asia Pacific in terms of both, value and volume, over the next few years. With an estimated US$224.81 mn in revenues, the latter is projected to acquire the lead in the global market by the end of the forecast period.
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The global market for UV-cured acrylic adhesive tapes demonstrates a consolidated competitive landscape. Nitto Denko Corp., Avery Dennison Corp., 3M, Biolink Gesellschaft für Verbindungstechnologien GmbH, Denka Co. Ltd., Collano Adhesives AG, Eurobond Adhesives Ltd., Henkel AG & Company KgaA, H.B. Fuller, No-tape Industrial Co. Ltd., Shin-Etsu Chemical Co. Ltd., Scapa Group Plc., Toyochem Co. Ltd., and tesa SE are some of the key manufacturers of UV-cured acrylic adhesive tapes across the world.
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