Bonding & Joining Technology Assumes Professional & Technical Importance Supported by the Emergence of New Applications With High Performance Adhesion Needs

The global market for Adhesives is forecast to reach US$62.3 billion by 2024, driven by application expansion into newer and more complex end-use industries such as construction, automotive, aerospace and medical equipment supported by innovations in materials and bonding strength.

An adhesive is a chemically prepared formula-based substance, which when applied to surface of materials, binds them together and resists separation. Adhesives, offering several benefits over other binding techniques such as mechanical fastening, sewing, thermal bonding etc., boast of the ability to bind different materials and provide superior binding property by distributing stress more efficiently across the joint. Given its role in construction, automotive manufacturing, furniture, footwear, electronics, consumer DIY, general goods manufacturing, and packaging to shipbuilding, medical, aerospace, and solar energy etc., all of which are highly reliant on prevailing economic conditions, adhesives market is highly sensitive to macro-economic factors such as GDP growth, level of construction and manufacturing activity, consumer spending levels etc.

In automobiles, adhesives are used to enhance vehicle body rigidity, lower vibrations and design flexibility, particularly in lighter vehicles. The demand for adhesives is growing significantly in the aerospace sector primarily attributed to rise in number of new aircraft programs that demand high composites, which facilitate in reduction of aircraft weight and enhance overall fuel efficiency. Adhesives are also gaining traction in the wind energy sector owing to increasing use of modular wind blades as well as growing installations of new wind turbines. The rising solar energy generation activities globally are extending new opportunities for adhesives in this niche vertical. Cyanocrylates, single-part adhesives that cure at room-temperature, are mostly used in medical industry to bond endoscopes, catheters and medical tubing, and also in general assembly applications which involve hard-to-bond plastics, dissimilar substrates, O-ring bonding and wire tacking. Growing automotive production, steadily expanding aerospace sectors, and increasing shipbuilding activity worldwide are poised to enhance the demand for advanced adhesives for use in the manufacture of machine components and in assembly of finished products.

Propelled by a number of positive factors, mainly increasing usage in the automotive industry, the high strength laminating adhesives market globally has exhibited a decent growth and is anticipated to gather more steam over the short-term. The demand for wood adhesives is propelled by growth of the woodworking, furniture and construction sectors. Gains posted by furniture manufacturing are the primary drivers for the wood adhesives market. Constantly changing trends in electronics designs, especially mobile devices, are encouraging adhesive technology innovations. Adhesives have gained more popularity in the last century over other assembly products used in structural design. New formulations are experimented to cater to the constantly increasing requirements from modern product designs and latest manufacturing processes. Despite several benefits, the adhesives industry continues to be weighed down by environmental concerns and regulations as the industrial chemical waste generated by this industry is one of the primary sources of environment pollution.

As stated by the new market research report on Adhesives, developed nations, including Europe, Japan, and the United States have been traditional revenue contributors over the years. China represents the single largest market worldwide, and ranks as the fastest growing market exhibiting a CAGR of 6.7% over the analysis period.

Key players in the market include 3M Company, Adhesives Research, Inc., Adhesives Technology Corp., Akzo Nobel N.V., Ashland, Inc., Avery Dennison Corp., BASF SE, Beardow & Adams (Adhesives) Ltd., Bemis Associates, Inc., Berry Global, Inc., Adchem Corp., Bostik (USA), Covestro AG, DIC Corp., DowDuPont Inc., DYMAX Corp., Franklin International, Inc., Georgia-Pacific Chemicals LLC, H.B. Fuller Company, Henkel AG & Company, KGaA, Huntsman Corp., Illinois Tool Works, Inc., Permatex, Inc., LORD Corp., Mapei S.p.A., Momentive, PPG Industries, RPM International, Inc., DAP Products, Inc., and Sika AG, among others.

The research report titled “Adhesives – Market Analysis, Trends, and Forecasts” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, and other strategic industry activities of global companies. The report provides market estimates and projections in value (US dollars) and volume (pounds) terms for major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), China, Asia-Pacific, Latin America (Brazil, and Rest of Latin America), and Rest of World. The report also analyzes the market by chemical type - Styrene Butadiene Rubber, Phenolic, Polyolefin, Epoxy, Starch & Dextrin, Acrylic (Cyanoacrylic & Others, Acrylic PSA, Acrylic Emulsion), Urea Formaldehyde, Polyvinyl Acetal, Polyvinyl Acetate, Neoprene, Thermoplastic Rubber, Polyurethane, Natural Rubber, Protein, Furan, Polyvinyl Chloride, Reclaimed Rubber, Silicate, Silicone Rubber, Polyamide, Polyvinyl Alcohol, Nitrile, Butyl Rubber & PIB, Polyester, Ethylene, Bitumen, and Others.

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