Glass Bonding Adhesives Market: About the Report
Despite the challenges faced due to the outbreak of COVID-19, the glass bonding adhesives market is forecast to exhibit steady growth over the coming years. Rapid expansion of key end-use industries such as automotive, construction, electronics, and others are projected to increase the growth rate of the market.
Fact.MR’s report elaborates on how Asia Pacific, followed by North America and Europe, will lead the progress of the global glass bonding adhesives market through 2030. While factors such as risk to alter the bond-line due to long-term usage, limitation to non-destructive quality testing, and others are expected to work as restraints, the market still has strong potential to grow further.
The report also goes on to analyze the market potential, drivers, and upcoming trends in order to provide in-depth insights of the market for the assessment period of 2020 to 2030.
Glass Bonding Adhesives Market Overview
A new study by Fact.MR states that, the global glass bonding adhesives market is anticipated to expand at over 7% CAGR during the forecast period of 2020 to 2030. UV curable type glass bonding adhesives are expected to emerge dominant, bolstering the growth of the market.
With exponential growth of the building & construction industry, demand for glass bonding adhesives is increasing rapidly, mainly due to rapid urbanization and highly developed manufacturing units in North America are fuelling the growth of building & construction industry. According to the United Nations, global urban population is expected to increase 70% by 2050.
In the Asia Pacific region, the expanding commercial industry is catering to the growth of the market. Furthermore, investments by governments in this region are working as a catalyst for growth. For instance, the government of Indonesia spends over 6% of their total budget per year for the development of building & construction industry.
The building & construction industry in regions such as Latin America, Europe, and others are expanding further, with growing number of manufacturing units along with well-developed infrastructure. According to the European Commission (EC), the construction industry contributes to about 9% of the Europe’s GDP. Glass bonding adhesives have exclusive properties of providing strong, durable joint techniques between various kind of dissimilar materials such as glass, metal, plastic, and others, due to which, they are highly preferred by diverse end users.
As surging demand for glass bonding adhesives tends to persist, key market players have started developing broad categories of products of different types, such as polyurethane, silicone, epoxy, and others. For instance, Epoxy has launched its new A:B 1:1 Resin Glue Epoxy Adhesive, which can be applied as an adhesive to glass, metal, wood, plastic, and others.
Expanding Building & Construction Industry Boosting Growth
Glass bonding adhesives have exclusive characteristics such as non-yellowing property, moisture resistance, rigidness, chemical inertness, and others, which are highly required in joining techniques of various components of different materials such as steel, glass, wood, textiles, plastic, and others.
Glass bonding adhesives are composed of solvent-free materials, which makes them more preferred in the building & construction industry. With increase in population and industrialization, the building & construction industry is expanding fast, which, in turn, is aiding the growth of the glass bonding adhesives market. While growth in population in Asia Pacific was 1.07% in 2019, it is expected to grow steadily at 1.2% by 2050.
According to the regional intergovernmental organization European Commission (EC), in Europe, revenue generated for the automotive industry is highest in Germany – US$ 254 billion by Volkswagen, US$ 150.8 billion by Daimler, and others. According to Fact.MR, in North America, growth in industrial production is 3.62% from 2015 to 2019, which is another driver for the glass bonding adhesives market in this region.
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Growing Automotive Industry Aiding Demand Surge
Glass bonding adhesives are highly efficient in providing electrically/thermally conductive or insulating joints, making them perfect for using in the automotive industry. As the automotive industry is fast gaining traction with rise in demand for passenger vehicles, commercial vehicles, battery vehicles, and electric cars, requirement for glass bonding adhesives from this industry is surging.
According to Fact.MR, in India, growth in the automotive sector was at 4.9% from 2015 to 2020. China has the largest automotive industry in the world, with a production peak of 97,302,534 units in the last five years. According to EC, EU automotive investments increased by 6.1% to reach 60.9 billion euros annually in 2018. In 2018, the automotive industry contributed over 2.5% gross domestic product in the U.S., which is growing steadily with advancements in this sector.
Glass bonding adhesives provide a fast and cost-effective joining technique while eliminating galvanic corrosion. Added to this, glass bonding adhesives have excellent vibration damping properties. They can also uniformly distribute mechanical stress over a joint.
As these properties are highly required in joining various parts in the automotive industry such as distributors, spark plugs, interior harnesses, fuses, and others, demand from the automotive industry is bolstering the growth of the glass bonding adhesives market.
Regional Outlook on Glass Bonding Adhesives Market
Asia Pacific is presently leading the glass bonding adhesives market share. As demand for glass bonding adhesives is increasing steadily with the growing building & construction industry, woodworking, and others, the Asia Pacific market is set to grow exponentially in the near future. Availability of cheap labors, rise in number of foreign investors, expanding manufacturing industries, and others are catalyzing growth in Asia Pacific.
The North America glass bonding adhesives market is the second-largest among all regions. Highly developed automotive industry, growing industrialization, and others are driving the North America glass bonding adhesives market. Countries such as the U.S, Canada, Mexico, and others are anticipated to remain in key positions during the forecast period.
Europe is another lucrative region in the global glass bonding adhesives market. Rising number of manufacturing hubs, abundance of raw materials, cost-effective transport options, and others are boosting growth in Europe. Well-developed logistic units coupled with increase in demand from electronics, automotive, and other industries is catering to the growth of the Europe glass bonding adhesives market.
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Glass Bonding Adhesives Market by Type
UV curable type of glass bonding adhesives is presently leading the market, and is expected to sustain its position over the coming years. Having diverse exclusive properties such as high temperature resistance, superior adhesion capacity, high flexibility, and others, this type of glass bonding adhesive is widely required by various end-use industries, from electronics to healthcare.
UV curable glass bonding adhesives have an optically clear structure, which helps in fast and precise assembly of metal to glass, and between other materials potting crucial components and large-area bonding. Due to these properties, they are highly used in electronics, automotive, and other industries that rely on critical joining techniques.
According to Fact.MR, epoxy, cyanoacrylate, polyurethane, silicone, and others are expected to remain in key positions in terms of type throughout the forecast period.
Glass Bonding Adhesives Market by End-use Industry
Presently, the building & construction industry is dominating the glass bonding adhesives market. With rise in the residential and commercial segments, demand for medium- to high-rise large buildings and renovation of several old industrial complexes is skyrocketing. Glass bonding adhesives, being an integral part of the construction process, are expected to grow further with the expanding building & construction industry in the near future.
Some of the other key end-use industries are automotive & transportation, electrical & electronics, healthcare, industrial assembly, woodworking, and others, which are expected to remain key contributors over the coming years.
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Glass Bonding Adhesives Market: Competitive Landscape
With competition getting fiercer, key market players are emphasizing on launching cost-effective products with better quality.
- For instance, Ashland launched its new range of glass bonding adhesives - Purethane™ Water-based Laminating Adhesives, Pureseal™ Water-based Heat Seal Coatings, PureRad™ UV Curable Laminating Adhesives, and others, in the year 2020.
- H.B. Fuller launched its new range of glass bonding adhesives with high-performance bonding and sealing technologies in the year 2020.. The company is also offering CILBOND® Bonding Agents, Weld Mount Adhesive Fastening Systems, and others.
- Master Bond has developed single component LED curable adhesives for rapid bonding of tinted/UV blocked glass surfaces in the year 2020.
- Sika AG launched Sikaflex®-296, which is suitable for high performance, and formulated for use in all types of mineral glass windows in the year 2020.
The Analyst’s Viewpoint
“With a growing building & construction industry, demand for glass bonding adhesives is increasing fast. While rapid expansion of the automotive industry is further catering to market growth, there are challenges such as limited stability to heat, requirement of clamping devices to fix joints, and others. As key market players have started developing new ranges of products with special emphasis on types such as UV curable, epoxy, silicone, and others, they are addressing these limitations to provide better products.”
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COVID-19 Impact on Glass Bonding Adhesives Market
The glass bonding adhesives market has faced various restraints due to the outbreak of COVID-19. As key end users, from building to woodworking, got affected due to the pandemic, demand for glass bonding adhesives has decreased significantly. For instance, the woodworking machinery manufacturing market declined by 9% in the U.S. in 2020.
The long struggle of manufacturing units in finding enough labor and raw materials during lockdown periods has slowed down the growth of the market. Furthermore, financial instability has declined market growth as well.
However, steady adoption of the ‘new-normal’ across the globe coupled with commencement of the vaccination process is projected to increase end-use industry activities, thereby aiding demand growth in the glass bonding adhesives market.
According to Fact.MR, the glass bonding adhesives market will get back to its normal growth trajectory by the end of the year 2021, paving new paths for key market players.
Glass Bonding Adhesives Market – Segmentation
Fact.MR’s research study assesses the global glass bonding adhesives market in terms of type, end-use industry, and region. This report presents extensive market dynamics and trends associated with different segments of the market and their influence on the growth prospects of the global glass bonding adhesives market.
- UV Curable
- Building & Construction
- Automotive & Transportation
- Electrical & Electronics
- Industrial Assembly
- North America
- Latin America
- East Asia
- South Asia & ASEAN
- Middle East & Africa (MEA)
Glass Bonding Adhesives Market - Scope of the Report
A recent study by Fact.MR on the glass bonding adhesives market offers a 10-year forecast from 2020 to 2030. The study analyzes crucial trends that are currently determining market growth. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders and emerging players associated with the manufacturing of glass bonding adhesives. The study also provides the dynamics that are responsible for influencing the future status of the glass bonding adhesives market over the forecast period.
A detailed assessment of the glass bonding adhesives value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the glass bonding adhesives market, along with their product portfolios, enhances the reliability of this comprehensive research study.
Glass Bonding Adhesives Market: Report Summary
The study offers a comprehensive analysis on diverse features, including demand, product developments, revenue generation, and sales in the glass bonding adhesives market across the globe.
A comprehensive estimate on the glass bonding adhesives market has been provided through an optimistic as well as a conservative scenario, taking into account sales during the forecast period. Price point comparison by region with global average price is also considered in the study.
Key Questions Answered in Fact.MR’s Glass Bonding Adhesives Market Report
- Which are the most lucrative markets for glass bonding adhesives?
- Which factors will impact glass bonding adhesives market growth?
- How will changing trends impact the strategy of market players?
- How can market players capture the low-hanging opportunities in the global glass bonding adhesives market?
- Which companies are leading the glass bonding adhesives market?
- What are the winning strategies of stakeholders in the glass bonding adhesives market?
Glass Bonding Adhesives Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the glass bonding adhesives market report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the glass bonding adhesives market during the forecast period.
Country-specific valuation on demand for glass bonding adhesives has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value for emerging countries has also been included in the report.
Glass Bonding Adhesives Market: Research Methodology
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the glass bonding adhesives market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the glass bonding adhesives market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the glass bonding adhesives market report as a primary resource.
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Yes, the report on the radiation proctitis treatment industry has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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