Radiation Cured Adhesives Market to Perceive Substantial Growth | 2019
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.
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