New product launches was the key strategy adopted by industry players in order to achieve growth in the UV adhesives market between 2012 and 2016. This strategy accounted for the largest share of all the development strategies adopted by the market players to expand their global presence and increase their market share between 2012 and 2016. The rising demand for innovative products, such as solvent-free and eco-friendly adhesive, has led to companies investing in research & development of advanced UV adhesives. The demand for UV adhesives has also been increasing rapidly in applications, such as medical, glass bonding, and electronics applications. Henkel AG & Co. KGaA (Germany), H.B. Fuller (U.S.), Ashland Inc. (U.S.), Dymax Corporation (U.S.), The 3M Company (U.S.), Permabond Engineering Adhesives (U.K.), Master Bond Inc. (U.S.), Panacol-Elosol GmbH (Germany), and Epoxy Technology, Inc. (U.S.) are the major players operational in the UV adhesives market. These companies adopted various organic and inorganic growth strategies to achieve growth in the market. Companies adopted strategies such as investments & expansions, new product launches, mergers & acquisitions, and joint ventures to increase their market share and expand their distribution network.
In August 2016, Panacol-Elosol GmbH (Germany) launched a new UV adhesive product, named, Vitralit VBB-2N LV, to bond elastomeric materials. This strengthened the company’s product portfolio for a wide array of application industries. In the same month, Panacol-Elosol GmbH introduced new UV adhesives series: Vitralit 7311, Vitralit 7311 T, and Vitralit 7311 Gel. These UV adhesives offer viscosity range of low-to-high for bonding plastics as well as metal and glass.
In June 2016, H.B. Fuller announced its acquisition on Cyberbond, LLC (U.S.) business. With this acquisition, the company is anticipated to strengthen its market position in high growth adhesives markets, by catering to the demands of diverse end-use applications, across different regions.
In June 2015, Henkel acquired Novamelt GmbH (Germany) to strengthen its product portfolio of hot-melt adhesives, especially UV-curable hot-melts. With this acquisition, the company is expected to enhance its market competence in global hot-melt adhesives market.
UV Adhesives Market by Resin Type (Acrylic, Cyanoacrylate, Epoxy, Silicone, Polyurethane), Application (Medical, Electronics, Glass Bonding, Packaging, Transportation, Industrial Assembly) and Region - Global Forecast to 2021
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