Glass Bonding Adhesives Demand in Asia Pacific to Reflect High Single Digit Growth Over the Forecast Period
The glass bonding adhesives market study by Fact.MR offers compelling insights into key growth drivers and restraints impacting the market through 2031. The survey offers glass bonding adhesives demand outlook and studies opportunities existing in key segments, including product type and end use industry. It also highlights strategies adopted by market players to increase glass bonding adhesives sales
NEW YORK, Sept. 30, 2021 /PRNewswire/ -- The global glass bonding adhesives market is forecast to grow at a CAGR of 7% over the assessment period 2020-2030.
Rising demand for glass bonding adhesives from various industries including automotive, aerospace and electronics enabling the market growth. As per a report by United Nations, the global urban population is forecast to increase at 70% by 2050. Urbanization is expected to result in higher demand for construction activities globally, subsequently creating a conducive environment for sales of glass bonding adhesives.
Besides these, increasing preference for lightweight and fuel-efficient vehicles across the globe is presenting a positive demand outlook. The ability of glass bonding adhesives to offer cost-effective adhesion along with excellent vibrational damping properties is bolstering scope for application in the automotive sector.
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Spurred by the growing demand, leading manufacturers are incorporating polyurethane, silicone, and epoxy among others in the manufacturing of glass bonding adhesives. Access to diverse resources of raw materials will enable sustainable growth in the market through the forecast period.
Availability of labor at affordable cost, expansion of the manufacturing sector, and rising foreign investment will position Asia Pacific as a highly lucrative market. Meanwhile, demand outlook for North America will remain optimistic owing to the presence of robust automotive industry and growing industrialization.
"Spurred by the expansion of building & construction industry, the demand for glass bonding adhesives will continue soaring in the forthcoming years. Apart from this, manufacturers are focusing on introducing new range of products, which will aid the expansion of the market in the coming years," says a Fact.MR analyst
Key Takeaways from Glass Bonding Adhesives Market Survey
- Driven by expansion of commercial sector, demand in Asia Pacific is anticipated to grow at a high pace over the forthcoming years.
- Backed by rapid industrialization, North America market for glass bonding adhesives will expand at a high rate in the near future.
- Growth prospects are likely to remain positive for Europe market owing to increasing demand from electronics and automotive industries.
- The demand outlook for China remains optimistic as automotive production continues to pick up pace in the country.
- Based on type, the demand for UV curable glass bonding adhesives is surging at a rapid pace due to their flexibility and high adhesion capacity.
Key Drivers
- Increasing demand from automotive sector is propelling glass bonding adhesives sales.
- Growing demand for green and sustainable adhesives is catering to the glass bonding adhesives market growth.
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Competitive Landscape
Glass bonding adhesives manufacturers are focusing on new product offerings to enhance their product portfolio. Besides this, market players are focusing on acquisitions and partnerships to strengthen their footprint.
For instance, in 2017, H.B. Fuller announced the acquisition of Royal Adhesives & Sealants for $ 1.575 billion. This acquisition makes H.B. Fuller the world's largest provider of adhesives for insulating glass and commercial roofing applications along with expanding Fuller's product offering in engineering, durable assembly and construction adhesives.
Ashland announced the launch of its new adhesives called Purethane Water-based Laminating Adhesives, designed for bond laminating of flexible packaging materials.
Some of the leading players operating in the glass bonding adhesives market profiled by Fact.MR are:
- 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)
More Valuable Insights on Glass Bonding Adhesives Market
Fact.MR, in its new report, offers an unbiased analysis of the global glass bonding adhesives market, analyzing forecast statistics through 2020 and beyond. The survey reveals growth projections on glass bonding adhesives market with detailed segmentation:
Type
- UV Curable
- Epoxy
- Cyanoacrylate
- Polyurethane
- Silicone
- Others
End-use Industry
- Building & Construction
- Automotive & Transportation
- Electrical & Electronics
- Healthcare
- Industrial Assembly
- Woodworking
- Others
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & ASEAN
- Oceania
- Middle East & Africa (MEA)
Key Questions Covered in the Glass Bonding Adhesives Market Report
- The market survey also highlights projected sales growth for glass bonding adhesives market between 2020 and 2030
- The report offers insight into glass bonding adhesives demand outlook for forecast period 2020-2030
- Glass bonding adhesives market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
- Glass bonding adhesives market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Explore Fact.MR's Coverage on the Chemical & Materials Domain -
Silicone Adhesives Market- The silicone adhesives market will grow in response to increased demand for sealants with excellent chemical and physical qualities in the construction, automotive, electrical, and electronics industries, among others. Silicone adhesives are increasingly being used for structural metal bonding, external interior trim, and glass bonding, which is projected to help the market gain traction in the near future. Silicones also have exceptional adherence to car wrappings and films. Because of their superior conductive qualities, silicone adhesives will continue to gain popularity, particularly in the electronics industry.
Construction Adhesive Market- End-user need for heat- and moisture-resistant adhesives, as well as quick-fixing adhesives, continues to fuel construction adhesive demand. The building business has expanded dramatically during the last few decades. Construction adhesive is used by construction businesses for water proofing, repairing leaky roofs, and other uses. Construction adhesive is being used to replace traditional methods of material attaching such as nuts and bolts, wood glue, and contact cement. In addition, rising investment in commercial developments in developing countries has boosted construction adhesive demand.
UV Cured Adhesives Market- The electronics and medical sectors, which account for the majority of the industry, are driving growth in the UV cured adhesives market. Medical applications are expected to drive the market in the short term, due to the demand for UV cured adhesives for quick ventilator assembly lines and swab manufacture. During the short-term forecast period, the gradual adoption of electronics and optical devices is expected to have a domino effect on the growth of the UV cured adhesives market. Overall, the market is expected to grow 2.1X during the forecast period.
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