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.
Such initiatives are expected to fuel
the consumption of metal bonding adhesives in the automotive industry. The
automotive & transportation segment includes aerospace, automotive, trucks,
and buses.
Over the past five years, major
players in the metal bonding adhesives market have undertaken various
development strategies.
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.
Reference:
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