Booming Manufacturing Sector Propelling Demand for Metal Bonding Adhesives in India

The expansion of the manufacturing sector is propelling the sales of metal bonding adhesives in India. As per the India Brand Equity Foundation, the manufacturing sector in India boomed during April 2000–June 2019 and reached a value of $91.2 billion in 2019, mainly due to the surge in foreign direct investments. Additionally, several government initiatives such as ‘Make in India’ have fueled the growth of this sector, thereby creating new avenues for manufacturing firms and for the use of advanced industrial equipment. This is subsequently pushing up the requirement for metal bonding adhesives.

Apart from the aforementioned factor, the growing usage of metal bonding adhesives in the transportation industry, on account of their ability to reduce the weight of automobiles, is also fueling their sales in the country. Unlike the conventionally used fasteners such as bolts and nuts, these adhesives greatly reduce the weight of vehicles and also increase their structural strength. They are also being preferred by consumers, due to their low weight, low cost, and eco-friendliness.

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Owing to their low weight, these lightweight adhesives are also being increasingly used in ships and aircrafts. Another major factor fueling the demand for metal bonding adhesives in India is the growth of the healthcare industry. Due to the surging healthcare expenditure of the government, the country’s healthcare industry is predicted to attain a value of $372 billion by 2022. As metal bonding adhesives are heavily used for producing healthcare equipment such as surgical instruments, X-ray machines, implantable devices, and biosensors, the boom in the healthcare industry is positively impacting their sales.

Due to the above-mentioned factors, the value of the Indian metal bonding adhesives market is predicted to rise from $198.9 million in 2019 to $343.6 million by 2030. The market is also expected to advance at a CAGR of 5.2% between 2020 and 2030. Epoxy, acrylic, cyanoacrylate, anaerobic, rubber, and polyurethane are most commonly used metal bonding adhesives in India. Out of these, the demand for epoxy adhesives is predicted to rise at the highest rate in the country in the forthcoming years.

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This will be a result of the surging demand for various automotive components, owing to the surge in the transportation and automotive industries. Furthermore, these adhesives have several advantages such as high chemical resistance, high bonding strength, rapid curing speed, shock resistance, and non-flammability, that make them highly suitable for joining automotive parts and components. Pidilite Industries Limited, Sika AG, Arkema Group, Henkel AG & Co. KGaA, and The 3M Company are some of the major metal bonding adhesive producers in India.

Thus, it is clear that due to the expansion of the manufacturing, automotive, and healthcare sectors, the sales of metal bonding adhesives will rise tremendously in India in the coming years.

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This release was published on openPR.