Glass Bonding Adhesives Market size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2657
Global Glass Bonding Adhesives Market size is expected to grow significantly as industry has witnessed an upward trend since 2013 and should account for high gains during forecast timeframe. Increasing demand from both glass processing industries and individual glazier shops should drive industry size. Growing product demand as adhesive solutions for its use in variety of industries including construction, automobile, furniture, optical glass lenses, optical displays for equipment will boost industry growth.
Demand for glass bonding adhesives are also anticipated to witness steady gains by 2024 owing to its intrinsic properties of high bond strength and high resistance to temperature. Applicability over a wide temperature range, precise alignment stability, low stress, high strength, excellent adhesion, no out-gassing and long life should stimulate industry growth.
Global luxury furniture market is expected to garner USD 30 billion by 2024, registering a growth of 4.0% during the forecast period. . Increasing disposable income, shift in consumer preferences along with simultaneous rise in demand for luxurious furniture models containing glass should trigger glass bonding adhesives market size.
Asia Pacific is the largest region for furniture manufacturing market accounting for over 40% global market share in 2016. This growth in demand for furniture can be ascribed to rising disposable income in countries including India and China. These products also offer high performance upon exposure to extreme and hostile weather condition bolstering glass bonding adhesive industry size.
Global consumer electronics market is predicted to surpass USD 1500 billion by 2024 with advancements in devices including smartphones, earphones and headphones, household appliances and speakers is expected to fuel the consumer electronics market. Silicon adhesives are recommended for bonding large areas of glass as they have a high resistance to the effects of ultraviolet light and have a high elongation. It is also widely used in electronics application thus boosting glass bonding adhesives market demand.
Global auto parts manufacturing market is anticipated to grow around USD 460 billion by the end of 2024 which is likely to drive the glass bonding adhesive industry. Glass bonding adhesives are used for adhering components including windshield, headlights , side windows,rear window, , and bonding to glass (stickers/labels, button, rearview mirror , etc.). In 2017, 73.5 million passenger cars were produced globally with China, Japan, Germany and India being the largest producer of the passenger vehicles which thereby should boost industry size.
Global medical devices market is estimated to reach USD 345 billion by 2024, forecasted to grow at 5%CAGR from 2017 to 2024. Medical device industry uses glass bonding adhesives for bonding substrates, respiratory devices, oxygenators, needles and syringes, tubes and fittings. UV adhesives possessing flexibility, gap-fill capability, strength and variable viscosities are used to bond a range of difficult to assemble materials, replacing conventional fastening systems used in assembly of medical devices.
North America, led by US and Canada is expected to witness high growth in glass bonding adhesives from medical devices application due to increasing ageing population with multiple chronic diseases and favourable government regulations related to healthcare. Market expansion will be driven by increasing move towards personalised therapy, introduction of innovative devices to cure illnesses associated with ageing population, increasing investment in health insurance facilities and changing lifestyle.
Europe glass bonding adhesives market, led by France, Italy and Germany may witness rapid pace of demand due to substantial spending on healthcare and high production and sales of automotive parts in Western European countries. Glass bonding adhesives are an appropriate replacement for nuts and bolts used in aerospace and automotive industry reducing overall weight of the vehicle. Stringent regulations governing VOC emissions from glues used in building and construction products, electronic components and automotive body will propel the use of sustainable non-hazardous glass bonding adhesive which are more environment friendly and technologically advanced.
Global glass bonding adhesive market share is moderately consolidated with key industry participants including KIWO, Ashland, Dymax Corporation, Bohle AG, H.B. Fuller Company, Henkel AG & Co., Sika AG, Master Bond Inc.DowDuPont which are an integral part of the market focused on strengthening their regional presence.
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