The metal
bonding adhesives market was valued at USD 5.30 billion in 2015 and is projected to reach USD 7.70 billion by
2021, at a CAGR of 6.5% from 2016 to 2021.
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Metal bonding
adhesives are used for metal-to-metal
bonding applications. These adhesives are replacing traditional bonding
techniques such as fabrication and fastening. To assemble various metal-based
devices and equipment, manufacturers depend on several bonding methods that
include mechanical fastening, thermal joining, and adhesive bonding.
On the other
hand, while bonding metal-to-metal, adhesives can distribute the stress load
uniformly over the equipment surface.
Hence, metal bonding adhesives are gaining momentum in various
applications.
Growth of the metal bonding adhesives market is propelled by the expansion of the
automotive, pharmaceutical, mining, and chemical industries. Growing preference
for metal bonding adhesives over traditional bonding techniques, such as
fabrication and mechanical fastening is driving market growth.
The metal
bonding adhesives market in the Asia-Pacific region is projected to grow at a
high CAGR during the forecast period, in terms
of value and volume. China is the fastest-growing country in the
Asia-Pacific metal bonding adhesives market.
It is projected to be a high growth potential market
for metal bonding adhesives, owing to the increased demand for metal bonding
adhesives in industrial applications as well as growth of the chemicals,
petrochemicals, and food & beverages industries.
The epoxy-based
metal bonding adhesives segment is the largest resin type segment of the metal bonding adhesives market. High
peel strength, durability, rapid cure, and low odor are properties of
epoxy-based metal bonding adhesives.
The automotive
& transportation segment is the largest and fastest-growing application
segment of the metal bonding adhesives market. Stringent government regulations
to reduce emissions have encouraged automotive manufacturers to enhance the
fuel economy, which, in turn, have resulted in the increased production of
lightweight automotive parts.
New product
launches/developments, expansions, and acquisitions are some of the key growth
strategies adopted by Henkel AG & Co. KGaA (Germany), H.B. Fuller (U.S.),
The 3M Company (U.S.), Sika AG (Switzerland), The Dow Chemical Company (U.S.),
Arkema S.A. (France.), and Solvay S.A., (Belgium). These strategies have helped
enhance the production capacities and increase market share of the
aforementioned key players in the metal bonding adhesives market.
A significant trend observed in the metal bonding adhesives market is the
acquisition of U.S.-based metal bonding producers by European companies. In
November 2016, Arkema S.A. (France) acquired Bostik Inc. (U.S.). This
acquisition enabled Arkema to establish a strong foothold in the metal bonding
adhesives market in North America.
H.B. Fuller (U.S.) is another major metal bonding adhesive
producer that has strengthened its presence in the metal bonding adhesives market.
The company acquired Tonsan Adhesive, Inc. (China) in June 2014. This
acquisition enabled H.B. Fuller to establish its foothold in the high-growth
engineering adhesives market in China.
The company has a broad and diversified metal bonding
adhesives portfolio. It is focused on the adoption of both, organic and
inorganic growth strategies such as expansions and mergers & acquisitions
to enhance its revenue and share in the metal bonding adhesives market.
Reference:
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