Press release
Metal Glue Market Set To Witness Steady Growth With CAGR Of 4%during 2021-2031, Finds Fact.MR
According to latest research by Fact.MR, metal glue market is set to witness steady growth during 2021-2031. Demand for metal glue will witness growth in coming years, owing to the investment in automobile industries in developing countries.What is Driving Demand for Metal Glue?
Evolving end-user demand for quick & fix adhesive and long lasting adhesive for fixing metal products continue to drive the demand for metal glue. In the past few decades, the automobile sector has grown significantly.
Automobile manufacturers are using metal glue to fix the bond between body panels. Companies are using metal glue to replace traditional mechanical welding, reverting and brazing methods, as this method takes more time and it increases the cost of production.
To get in-depth information view the report
https://www.factmr.com/report/metal-glue-market
Covid-19 Affected the Global Sales of Metal Glue
Automobile industries have been badly affected globally under Covid-19 impact, as production in the automobile sector was put on hold to avoid the spread of covid-19 virus.
Apart, from this customers canceled their previous orders due to economic crisis. For instance, as per the report of Indian government, the Indian automobile industry has suffered Rs 2300 crore loss per day during lockdown and the estimate job loss in the sector was more than 3 lakh.
This has directly impacted the market growth of metal glue as automobile sectors hold a large number of shares in the metal glue market.
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Who are the Key Manufacturers and Suppliers of Metal Glue?
Some of the leading manufacturers and suppliers of metal glue includes
Henkel AG & Co. KGaA
H.B. Fuller
The 3M Company
Sika AG
The Dow Chemical Company
Arkema S.A.
Solvay S.A.
LORD Corporation
DELO Industrie Klebstoffe GmbH & Co. KGaA
Parson Adhesives Inc.
BASF SE
DuPont Inc.
H.B. Fuller
Evonik Industries
Ashland Inc.
Arkema Group
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Europe Demand Outlook for Metal Glue
Europe holds the second largest share of metal glue market followed by North America.
United Kingdom, France and Germany dominate the European market of metal glue, as most of the big players of the automobile come from these countries including BMW Group, Hyundai Motor Europe, Volvo Cars and Volkswagen Group, etc.
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Asia Pacific Metal Glue Market Outlook
Asia Pacific is the leading market for metal glue globally. Asia Pacific accounts for more than 40% share of the global metal glue market.
The demand in Asia Pacific is expected to grow at a rapid pace in the forecasted period (2021 – 2031), as the number of activities is increasing in end use industry.
India and China dominate the market of metal glue in Asia Pacific. The growing automobile industry in India has supported the growth of metal glue market.
For instance, recently, Chinese automobile player like Great Wall Motors has committed to invest nearly US$ 1.5B over the next 3-5 years and would be finalizing the locations of their plants in Gujarat, Tamil Nadu, and Andhra Pradesh.
Along with that, SAIC (Shanghai Automotive Industry Corporation) is also considering investing another US$ 350M in setting up a second unit in the country.
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Key Segments
Based on resin type, metal glue market segmented into:
Epoxy
Acrylic
Cyanoacrylate
Anaerobic
Polyurethane
Based on application, metal glue market segmented into:
Tanks
Cars
Buses
Industrial Machine
X-ray Machine
Dialysis Machine
Others
Based on end user, metal glue market segmented into:
Residential
Commercial
Mining Industry
Manufacturing
Others
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