TAGS: Epoxy Adhesives Polyurethane Adhesives UV/EB Cure Adhesives Acrylic Adhesives
Research and Markets (RM) anticipates that the glass bonding adhesive market size is projected to reach USD 4.25 billion by 2027 at a CAGR of 7.71% from USD 3.16 billion in 2023.
The glass bonding adhesives are substances made for fusing two surfaces together, such as glass to glass or other substrates like plastics, metals, and rubbers. They are produced using a variety of substances, including silicone, epoxy, polyurethane, and cyanoacrylate.
Suitable for Construction & Medical Applications
The main types of glass bonding adhesives are polyurethane, modified
silanes adhesives, silicone adhesives, acrylate adhesives, epoxy adhesives, cyanoacrylate adhesives, polysulfides, UV or led curing, and others.
Polyurethane is a composite resinous, stringy, or elastomeric compound formed by the reaction of diisocyanates with other polyfunctional compounds such as glycols, used in glass bonding adhesives for its flexibility or solidity, relying on the composition. It is used in various applications such as construction, furniture, automotive and transportation, electronics and appliances, consumer goods, medical devices, and others by various end-use industries automotive, aerospace, furniture, construction, electronics, consumer goods, medical and others.
The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe.
Key Trend: Advancement in Bonding Technology
Advancement in bonding technology is a key trend gaining popularity in the glass bonding adhesive. Major companies operating in the market are developing innovative products to strengthen their position in the market.
For instance, in January 2023, Henkel AG & Co. KGaA, a Germany-based company operating in adhesives and sealants, introduced Loctite 3296, a new adhesive for lens bonding in ADAS sensors.
Loctite 3296 is a dual-cure adhesive UV and thermal that meet a variety of assembly requirements through their respective adhesive performance characteristics. It is intended for assembly operations that require low post-cure temperatures and delivers a high cure depth after only a few seconds of exposure to UV light which makes it advantageous for precisely assembling the components of a camera module.
In April 2021, Sika AG, a Swiss specialty chemical company acquired Hamatite for an undisclosed amount. Through this acquisition, Sika AG aims to expand its product range for sealing and bonding solutions in the Japanese construction sector and greatly strengthen its market presence in Japan. Hamatite is a Japan-based company operating in glass bond adhesives such as hot melt adhesives for windshields and headlamps.
Highest Growth in Asia Pacific Region
Asia-Pacific was the largest region in the glass bonding adhesives market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the glass bonding adhesives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Increased Demand from Automotive Industry
The expanding automotive industry is expected to be the key driver of the glass bonding adhesive market. The automotive industry refers to an industry involved in designing, manufacturing, wholesale, retailing, and maintaining motor vehicles. Glass bonding adhesive helps the automotive industry by utilizing in the vehicle assembly bonding process as makers progressively use sandwich panels, fiberglass composites, and sophisticated polymers into their vehicle designs to lighten them, increase their structural integrity, longevity, and thermal stability.
For instance, in November 2022, according to the Society of Motor Manufacturers and Traders (SMMT), a UK-based trade association of motor vehicles, UK’s car production has risen to 7.4% to 69,524 units as compared to the previous years. Additionally, with more than eight out of ten (81.2%) automobiles produced going overseas, or 56,469 units, exports of the newest mass-market, luxury, and specialty models propelled volume production, in which shipments include to the US (26.4%), Japan (6.0%), South Korea (68.7%), and Australia (125.4%). Therefore, the expanding automotive industry is driving the growth of the glass bonding adhesive market.
The glass bonding adhesives market consists of sales of hot-melt adhesives, non-melt adhesives, reactive hot melt, thermosetting adhesives, pressure sensitive, and contact adhesive adhesives.
Major players in the glass bonding adhesives market are Ashland Global Specialty Chemicals Inc., DELO Industrie Klebstoffe GmbH & Co. KGaA, Dymax Corporation, H.B. Fuller Company, Henkel AG & Co. KGaA, Master Bond Inc., Permabond LLC, Sika AG, 3M, Dow Inc., Kiwo Inc., Bohle AG, DuPont de Nemours Inc., ThreeBond Group, Parker Hannifin Corporation, Sabre Corporation, Solvay.
Source: Research and Markets