Research and Markets has announced the addition of the “Glass Bonding Adhesives Market by Type (UV Curable Cyanoacrylate, Silicone, UV Curable Epoxy, Polyurethane), End-Use Industry (Furniture, Electronics, Medical, Transportation, Industrial Assembly), and Region – Global Forecast to 2021” report to its offering.
The global glass bonding adhesives market is projected to reach USD 1.76 billion by 2021 at a CAGR of 7.4%.
The growth is driven by the increasing investments in new manufacturing plants in the automotive, rail, aerospace, wind, infrastructure development industries, and structural projects. This growth is further driven by a rise in demand for high-performance, high-quality glass bonding adhesives from end-user industries, such as electronics, transportation, and furniture.
Silicone is the fastest-growing resin in terms of volume in the global glass bonding adhesives market. With the developments in the glass bonding technology in silicone adhesives, the demand for glass bonding silicone adhesives has increased for the medical and electronics applications, due to its excellent chemical structure, fast-curing, and the inherent properties.
The Asia-Pacific region is the fastest-growing glass bonding adhesives market, in terms of value and volume. High economic growth rate, growing manufacturing industries, cheap labor, increasing foreign investments, increase in the applications of glass bonding adhesives in the medical, glass bonding, and electronics applications, are some of the major factors expected to drive the growth of the market. Countries such as China, South Korea, and Taiwan, which are major hubs for the production of electronic components, are expected to drive the growth of the glass bonding adhesives market in the Asia-Pacific region.
H.B. Fuller Company (U.S.), Ashland Inc. (U.S.), Dymax Corporation (U.S.), 3M Company (U.S.), The Dow Chemical Company (U.S.), are the leading companies, with an excellent foothold in the U.S.
These companies are expected to account for a significant market share in the near future. Entering into the related industries and targeting new markets will enable the glass bonding adhesives manufacturers to overcome the effects of a volatile economy, leading to diversified business portfolios and increase in revenues.
Other major manufacturers of glass bonding adhesives are Henkel AG & Co. KGaA (Germany), Permabond Engineering Adhesives (U.K.), Bohle Group (Germany), KIWO (Germany), ThreeBond Holdings Co., Ltd. (Japan), and Sika A.G. (Switzerland).
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