Glass Bonding Adhesives Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Glass bonding adhesives represent a growing class of adhesives intended for use in glass, which is resistant to many conventional types of adhesives. Glass bonding adhesives need to have a high bond strength and high resistance to temperature, since glass is not permeable to the adhesives and doesn’t present a surface with notable purchase. UV-curable cyanoacrylate is the leading product category in the global glass bonding adhesives market at present, though it is likely to face increasing competition from silicone in the coming years. The medical devices industry, in particular, is likely to emerge as a key consumer of silicone-based glass bonding adhesives in the coming years.
The furniture and electronics segments are likely to be the vital consumers for the global glass bonding adhesives market in the coming years. The use of glass in electronics has been a constant due to its use in display equipment, but the recent spate of technological advances has made glass even more important to the industry, as modern grades of glass have superior physical properties that make them a clear advance over conventional glass and have thus become an even more important design element in the electronics sector. The rising use of glass in the furniture sector is due to their aesthetic benefits in an industry dominated by conventional materials such as wood and metal.
The booming construction industry in emerging regions is likely to make them vital for the global glass bonding adhesives market in the coming years. The rising disposable income of consumers in emerging economies has made them more likely to invest in more expensive furniture models, which more commonly contain glass. The rising disposable income of consumers in the Middle East, Asia Pacific, and Latin America is also likely to drive the electronics industry in these regions, lending a boost to the glass bonding adhesives market.
In the last few years the global glass bonding adhesives market has witnessed considerable growth, which is expected to persist through the course of the report’s forecast period from 2017 to 2025. Glass bonding adhesives are in high demand due to their characteristics such as high bond strength, low temperature resistance, excellent adhesion property, high bond strength, and low thermal expansion. Owing these properties, glass bonding adhesives are used across medical, furniture, electronics, transportation, and industrial assembly industries.
UV curable cyanoacrylate, polyurethane, UV curable epoxy, and silicone are the most common types of glass bonding adhesives available in the market presently. Of these, the demand for UV curable cyanoacrylate is considerably high as they are suitable across diverse applications. However, over the course of the forecast period. The demand for silicone is expected to rise at a higher pace due to its increasing usage in electronics and medical industries.
The report presents a comprehensive market overview covering the various factors influencing its growth. It segments the market based on various criteria and evaluates the factors influencing its growth across them. A detailed analysis of the key restraints is included in the report as well. In addition, the report the impact of Porter’s five forces on the overall market. The analysis is intended to gauge the bargaining power of suppliers and buyers, threat from substitutes and new entrants, and the degree of competition prevailing in the market.
The global bonding adhesives market will majorly gain from the rising demand from end-use industries such as electronics, medical, furniture, transportation, industrial assembly, and others. These industries are expected to remain key application segments for the market through the forecast period. Hence factors stirring changes in them will have a significant influence in the overall glass bonding adhesives market.
The demand for glass bonding adhesives is significantly high in the furniture industry. Opportunities for the furniture industry in emerging nations are immense, as the consumers in these countries demonstrate greater affordability and willingness to spend on beautification of their homes. Consequently, the glass bonding adhesives market will gain considerable traction in the emerging markets. In addition, these nations exhibit a high demand for advanced electronics, which yet another application segment in the global glass bonding adhesives segment.
Among the key regional markets, the glass bonding adhesives market will witness considerable growth in Asia Pacific. The expanding electronics and medical industries in the region will fuel the demand for glass bonding adhesives in Asia Pacific. Besides this, the market will also witness lucrative opportunities in North America. Growth in this region will be mainly driven by the presence of several well-established industry. In addition, the opportunities witnessed in the Middle East and Africa will prove lucrative for enterprises operating in the glass bonding adhesives market.
Ashland Inc., H.B. Fuller Company, 3M Company, Dymax Corporation, The Dow Chemical Company are some of the key enterprises operating in the global glass bonding adhesives market. All these companies enjoy stronghold in the global glass bonding adhesives market and is expected to remain stable through the forecast period. In order to expand their footprint, these companies will target emerging nations. Many of them are also investing in diversifying their product portfolios to emerge dominant in the market. Policies adopted by these companies are expected to have a significant influence on the global glass bonding adhesives market.
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Latest Trends and Cardinal Growth Prospects
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Ascensions in Technology
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The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
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