New York, USA, Jan. 18, 2023 (GLOBE NEWSWIRE) -- Metal Bonding Adhesives Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Metal Bonding Adhesives Market Information by Application, Resin Type and Region - Forecast till 2030”, the market is estimated to grow at a 7.3% CAGR to reach USD 13297.4 Million by 2030.
Market Synopsis
The high-strength joining compounds that bind metal substrates are known as metal-bonding adhesives. The mechanical and thermal resistivity gives them the virtue of creating seamless connections between the two substrates. Metal bonding adhesives uniformly disperse the stress throughout the entire surface area, reducing it throughout the entire region. The market for metal bonding adhesives is likely to dominate the automotive and transportation sector, which is also predicted to rise rapidly. OEMs frequently utilize metal bonding adhesives in the automotive and transportation sectors to construct chassis, automobile exteriors, panel bonding, frameworks, and reinforcement for both light and heavy vehicle segments.
High-performance adhesives or glues that are typically employed in carpentry or for specific carving workings are metal bonding adhesives. Apart from that, they occasionally find employment in fashion and jewelry-making applications. They are typically employed in complex artwork and compositions. Cyanoacrylate is one of the most well-known adhesives on the market. This is one of the most well-known and well-established types of metal-bonding adhesives. They not only join metals but also ensure that the joining lasts for a long time. The most popular uses in the automobile sector are exterior panels and panel bonding. The automobile industry has experienced good development over the previous ten years, but recently the pace has slowed.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 13297.4 Million |
| CAGR | 7.3% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Application, Resin Type and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing preference for high-performance adhesives in various applications |
| An increase in demand from the automotive and transportation sectors |
Market Competitive Landscape:
The prominent contenders in the metal bonding adhesives market are:
- Evonik Industries AG
- BASF SE
- Sika AG
- Henkel AG
- Arkema
- Huntsman International LLC.
- Dow Chemicals
- H.B. Fuller Company
- 3M
- Ashland
Market U.S.P. Covered:
Market Drivers:
In the upcoming years, there may be growth prospects for the metal bonding adhesives market due to the rising demand for lightweight, low-carbon-emitting automobiles and low VOC, eco-friendly, and sustainable metal bonding adhesives. The market for metal bonding adhesives is anticipated to increase considerably more soon, but rigid and time-consuming governing laws may present a new problem. The increase in demand in the automotive, transportation, and industrial applications is one of the key factors anticipated to propel the growth of the metal bonding adhesives market during the forecast period. Additionally, it is projected that the growing demand for metal bonding adhesives in several developing nations would further fuel the market's expansion.
Market Restraints:
However, the fluctuation in raw material prices and the present economic recession is impacting the sales of metal bonding adhesives, which is further anticipated to restrain the market's expansion throughout the forecast period. However, the development of the market for metal bonding adhesives may be further hampered by the rigid and time-consuming controlling laws.
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COVID 19 Analysis
The epidemic has hurt the demand for metal bonding adhesives. This can be linked to the enormous interruptions made in each company's manufacturing and supply-chain operations by the different precautionary closings and regulations implemented by regulatory agencies worldwide. Additionally, consumer demand has fallen as people are now keener to cut non-essential expenses from their expenditures, as this outbreak has negatively impacted the general economic condition of most people. The elements above are predicted to negatively impact the worldwide market's revenue trajectory throughout the forecast year. However, it is projected that the global metal bonding adhesives market will recover once the pertinent governing bodies lift these imposed lockdowns.
Market Segmentation
By resin type, the market includes epoxy, acrylic, polyurethanes, and UV cures. By application, the market includes automotive and transportation, industrial equipment, appliances, aerospace, electronics, and medical.
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Regional Insights
Due to the rising demand for technologically advanced consumer devices and China's dominance of the market, which produces most of the world's automobiles, the Asia-Pacific metal bonding adhesives market is predicted to grow significantly and at the fastest rate. A major factor driving the rise in demand for metal bonding adhesives in the region is the relocation of manufacturing hubs due to the availability of cheap labor and raw materials in countries like India, Thailand, Indonesia, and China. Increased investments by multinational corporations in the industrial and electronics sectors also accompany this. As the automotive and construction industries in the region develop, there will likely be greater demand for metal bonding adhesives in North America.
The North American industry for metal bonding adhesives is anticipated to expand due to stringent regulations and growing environmental concerns. The market for metal bonding adhesives is expected to expand even further with increased investments in the oil and gas, food and beverage, petrochemical, and chemical sectors. Over the projected period, it is expected that the Middle East and Africa's metal bonding adhesive markets will expand significantly. The building and construction industry, including luxury furnishings and permanent houses, is experiencing an increased demand for bonding adhesives. The market is expanding due to additional factors such as increased urbanization and modernization. The European market contributed a large portion of global revenue. The European market is being driven by the rise in the requirement for bonding adhesives in the building and construction sector, which includes permanent houses and upscale furnishings.
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