Glass Bonding Adhesives Market Share, Industry News, Applications, Growth with Analysis Report 2023
Market Research Future (MRFR) has revealed in its latest report that the global glass bonding adhesives market is set to expand at a moderate CAGR throughout the forecast period 2018 to 2023. The key players participating in the competitive landscape strategize mergers & acquisitions, product developments, adoption of latest technologies, etc. which is likely to encourage the market expansion.
The glass bonding adhesives are used across different booming industry verticals which are expected to boost sales in the global glass bonding adhesives market over the next few years. Some of the en-user industries that are poised to fuel demand in the market are automotive, aerospace, construction, etc. The increasing prevalence of fuel efficient and lightweight automotive is expected to drive the proliferation of glass bonding adhesives market. Additionally, the increasing demand for durable electronics is also projected to aid the expansion of glass bonding adhesives market across the review period.
The demand for eco-friendly adhesives has opened avenues of growth opportunities for market players. Increased research and development activities coupled with massive investments are expected to be witnessed in the market. This, in turn, is projected to catapult the glass bonding adhesives market on an upward trajectory. However, the high cost of the adhesives remains an impediment to the market growth.
Henkel AG & Co. KGaA (Germany), H.B. Fuller Company (U.S.), Sika AG (Switzerland), Dymax Corporation (U.S.), 3M (U.S.), DowDuPont (U.S.), KIWO (Germany), ThreeBond Holdings Co., Ltd. (Japan), Bohle AG (Germany), Ashland (U.S.), Master Bond Inc. (U.S.), and Permabond LLC. (U.K).
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The global glass bonding adhesives market is segmented by type, end-use industry, and region.
Various types of glass bonding adhesives are available in the market, which includes polyurethane, modified silanes, silicones, acrylate, epoxy, cyanoacrylate, UV/ LED, and others. The polyurethane type glass bonding adhesive is dominating the market due to its high elasticity and low cost. However, its poor resistance to ultraviolet radiation may affect the market growth negatively. This problem can be overpowered by applying an opaque coating for the prevention of direct light exposure to the adhesive. Although the modified silanes adhesives and silicone adhesives are costly, they offer high resistance to the UV radiation.
The end-user industry segment includes automotive, aerospace, furniture, construction, electronics, consumer goods, medical, and others. The automotive and aerospace industries together dominate the global glass bonding adhesives market due to the stringent regulations for reduced VOC emission. Glass bonding adhesives are used in windscreens, sunroof assemblies, door glass, sensor bonding, and others. In the aerospace industry, they are used for seals, side walls, luggage racks, light covers, dado panels, microelectronics applications, and others. The glass bonding adhesives are excellent replacement for nuts & bolts used in automotive and aerospace, which automatically reduces the overall weight of the vehicle. In the furniture industry, they are used for stemware, glass headlamps, art glass, and crystal figurines among others. These adhesives are widely consumed in electronics and consumer goods for adhering door assemblies, laminating panels, wire tacking, magnet bonding, LED bonding, and others. Moreover, they are used in the medical sector for blood bag assembly, IV tube set, oxygenators, skin sealant, catheters, and others.
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By region, the global glass bonding adhesives market has been segmented into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia Pacific is expected to retain a dominant share of the market towards the end of the assessment period. The boom witnessed in the automotive, electronics and construction industries in the region are poised to fuel demand in the glass bonding adhesives market. North America is projected to remain an important growth pocket owing to the efforts channelized for reviving construction sector. Meanwhile, the growth of the automotive sector in Europe is likely to complement the glass bonding adhesives market in the region over the next couple of years. Latin America is set to witness market growth due to the presence of countries such as Mexico, Brazil, others, etc. The Middle East & Africa is projected to exhibit a steep rise in construction activities which is likely to propel demand for glass bonding adhesives.
- Glass bonding adhesives Manufacturers
- Traders and distributors of Glass bonding adhesives
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratory
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