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Glass Bonding Adhesives Market trends estimates high demand by 2024
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Based on product type, the glass bonding adhesives market can be segmented into UV-curable acrylate, silicone, UV-curable epoxy, polyurethanes, and others. Silicone accounted for significant share of the glass bonding adhesives market in 2015 due to the rising demand for these adhesives in end-use industries such as transportation. High demand for glass bonding adhesives in architecture and electronics is boosting the glass bonding adhesives market. The UV-curable acrylate segment is expected to experience high growth rate due to the increase in demand for glass bonding adhesives in the architecture industry. Growth in demand for these adhesives in end-use industries such as electronics, furniture, and transportation is anticipated to boost the glass bonding adhesives market across the globe. Expansion of the electrical & electronics sector has also augmented the demand for silicone in the glass bonding adhesives market. Demand for glass bonding adhesives has also increased significantly in glass water tanks and other glass storage applications.
In terms of region, the glass bonding adhesives market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of volume, Asia Pacific held the significant share of the glass bonding adhesives market in 2015. It was followed by North America and Europe. Asia Pacific is anticipated to dominate the glass bonding adhesives market during the forecast period owing to the high demand for these adhesives in emerging economies such as China, India, and Japan. Demand for glass bonding adhesives in Asia Pacific is anticipated to increase significantly in the near future, led by the increase in demand for these adhesives in end-use industries such as furniture, electronics, medical, transportation, and industrial assembly. In terms of end-use, the furniture segment is estimated to account for the prominent share of the glass bonding adhesives market during the forecast period. Increase in usage of glass bonding adhesives in electrical and electronics appliances is driving the glass bonding adhesives market. Significant industrial development is anticipated to open up new opportunities for the global glass bonding adhesives market. Economic development and rise in the number of applications are anticipated to augment the global glass bonding adhesives market in Asia Pacific. Increase in usage of glass bonding adhesives in electronics, medical, and construction end-use industries is likely to propel the global glass bonding adhesives market in the next few years.
Global demand for glass adhesives is projected to rise significantly in the near future, thereby offering high growth opportunities for companies operating in the glass bonding adhesive market. Rapid increase in demand in end-use applications, competitive manufacturing costs, and high economic growth rate are propelling the glass bonding adhesives market in Asia Pacific. These factors are encouraging companies to adopt expansion and R&D strategies in the region. Market players are focusing on Asia Pacific to gain higher market share. Producers of glass bonding adhesives have been compelled to adopt expansion and acquisition strategies to meet the global demand. Large numbers of producers are shifting their plants to countries such as China and India due to factors such as high demand and low raw material and labor costs.
Key players operating in the global glass bonding adhesives market are Three Bond Holdings Co., Ltd, Permabond Engineering Adhesives, Bohle Group, Henkel AG & Co. KGaA, Sika A.G., H.B. Fuller Company, Dymax Corporation, Ashland Inc., The Dow Chemical Company, 3M Company, and KIWO.
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