Bonding Adhesives Market - Industry Analysis, Trend and Growth, 2016-2024
Bonding adhesives are employed to stick two surfaces by producing a smooth bond between the surfaces to be joined. The technique involved in joining the surfaces makes use of epoxies, glues, or plastic agents that help in bonding. The process of bonding is associated with evaporation of the solvent or curing of the bonding agent by applying the pressure or heat.
Bonding adhesives are known to have superior stress-bearing capacity. Upon application, the stress load is distributed evenly over the entire surface, which reduces the stress on a single location. Adhesives of better quality are resistant to vibration and flex stresses. Adhesives can efficiently join surfaces of irregular shapes, and bond heat-sensitive as well as dissimilar substrates.
Based on the type of product to be bonded together, bonding adhesives are classified as glass bonding adhesives, fiber-bonding adhesives, metal-bonding adhesives, and others (including friction bonding adhesives).
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Bonding Adhesives Market: Market Trends
Bonding adhesives have a wide range of applications such as automotive, packaging, electronics, industrial assembly, transportation, medical, and furniture. They are known to have properties such as high bond strength, superior adhesion, resistance to low temperature, and low thermal expansion.
The market for bonding adhesives has experienced speedy growth in recent times and is expected to grow at a constant rate in the coming days as well. High number of applications coupled with the qualities possessed by bonding adhesives drive the market.
The global bonding adhesives market is likely to witness substantial growth in the near future, due to the increasing demand for superior-quality bonding adhesives from major end-use industries such as transportation, furniture, and electronics.
One of the limitations of bonding adhesives is the time required to fix and develop in full strength. Keeping in mind the above limitation, the market of bonding adhesives may witness a downfall is any substitute is developed which could efficiently replace it and reduce the time required for the fixation of bonding tapes.
However, the increasing industrialization is projected to offer a wide range of growth opportunities for the market for bonding adhesives in the near future.
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Bonding Adhesives Market: Region-wise Outlook
Asia Pacific has witnessed exponential growth in the market for bonding adhesives previously. The same trend is expected to continue in the near future, due to growing number of manufacturing industries, increasing foreign investments, cheap labor, high economic growth rate, and various electronic applications.
The presence of countries such as Taiwan, Korea, China, and India in Asia Pacific, which are among the leading economies involved in the production of electronic components, may lead to rapid increase of the market of bonding adhesives in Asia Pacific in future, since majority amount of bonding adhesives are used in electronic components.
The bonding adhesives market in North America is expected to witness substantial growth, due to presence of end-use industries such as medical, transportation, and electronics in major economies such as Canada and the U.S.
The market for bonding adhesives is expected to expand in the near future, due to presence of companies that manufacture bonding adhesives.
The bonding adhesives markets in Latin America and Middle East & Africa are anticipated to witness growth at a slower rate as compared to other regions.
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