Global Metal Bonding Adhesives Market - Overview
Metal boding adhesives are the high performance adhesives used to attach two metal surfaces. Such materials are used various industries, in order to create smooth bonds between two substrates. End use industries for the metal bonding adhesives include automotive & transportation, industrial equipment, and consumer appliances. The global metal bonding adhesives market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Among the aforementioned regions, Asia Pacific holds a major share of the global Metal Bonding Adhesives Market and is expected to retain its dominance over the forecast period, owing to the increasing consumption of epoxy and acrylic based adhesives in aerospace, automotive, industrial equipment, industrial and others. It is estimated that the automotive segment is set to observe the highest CAGR in the market due to growing replacement of metal joints, screws and fasteners by metal bonding adhesives. Epoxy based adhesives are witnessing high market share owing to superior bonding properties resulting into better crash resistance. Countrywise, China and India are the leading passenger car vehicle producers.
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Global Metal Bonding Adhesives Market – Prominent Players
BASF SE (Germany),Rockwool International A/S (Denmark),Owens Corning Corporation (US),Saint-Gobain S.A. (France),Paroc Group (Finland),Knauf Insulation (US),GAF (US),Knauf Insulation (Serbia),Beijing New Building Material Co., Ltd. (China). are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Metal Bonding Adhesives Market.
Market Dynamics -
The North America market is expected to grow at a stable CAGR due to extensive consumption of acrylic and epoxy based adhesives in automotive, marine, and aerospace. Owing to stringent Corporate Average Fuel Economy (CAFE) regulations, pertinent to fuel efficiency of the vehicle, North American automotive producers are more inclined to lightweight vehicles.
Country markets in Latin American region such as in Brazil, Uruguay, and Argentina due to the growing consumption of epoxy, polyurethanes and acrylic resins in automotive & transportation, industrial, equipment and energy sectors. Moreover, a rapid development is estimated in the Middle East & African region such as Qatar, the U.A.E, and others due to increasing demand for alkyd, polyurethanes and epoxy resins in major industries.
The growth of the Metal Bonding Adhesives Industry has been negatively impacted by the recent global outbreak of COVID-19. Lockdowns and other restrictions have led to the disruption of numerous construction sector activities, hampering the growth of the market for Metal Bonding Adhesives. However, it is expected that the ease of lockdown restrictions, together with the increased emphasis on effective restoration of the construction industry, will support the rapid recovery of the Metal Bonding Adhesives Market during the post-lockdown period.
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Metal Bonding Adhesives Market - Segments:
The global metal bonding adhesives market is segmented into type, and application. By type, the market is further classified into acrylic, epoxy, polyurethane and others. By application, the market is bifurcated into automotive & transportation, industrial equipment, and consumer appliances.
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Metal Bonding Adhesives Market - Regional Analysis:
In the global Metal Bonding Adhesives Market, North America and Europe will account for a large cumulative share. Increasing disposable income translates into higher sales of household furniture, bedding and appliances, which in turn drives regional growth. Enforcement of strict building safety codes plays an important role in the region's growth as well. While the U.S. will primarily drive North America, countries like Italy, Germany, the U.K., and France will be at the forefront of Europe's growth. Europe may grow significantly, driven by the size of the Metal Bonding Adhesives Market in Italy, the UK, France, and Germany. Increasing environmental awareness of energy savings, accompanied by the promotion of building safety codes, particularly in the United Kingdom and Germany, may fuel regional growth.
As a result of the rapidly growing industrialization, the increase in energy demand, especially in India and China, has driven the oil & gas industry, increasing the demand for insulation materials in oil and gas factories. Moreover, the growing demand for chemicals in paints & coatings, surfactants, lubricants and adhesives is a key factor driving the growth of the oil & gas industry. Demand for global Metal Bonding Adhesives products has increased with increasing public sector investment in oil & gas exploration and production. In regions such as Asia-Pacific, oil and gas production and extraction activities are thus creating lucrative opportunities for players operating in the global Metal Bonding Adhesives Market.
Industry/Innovation/Related News:
December 09, 2019 --- Installed Building Products, Inc. (the US), an industry-leading installer of insulation and complementary building products, announced the acquisition of a US-based provider of spray foam & fiberglass insulation installation services - Gulf Coast Insulation. The acquisition aligns with the Company’s key growth plans.
Installed Building Products is one of the largest new residential insulation installers in America and offers products & services for fireproofing, fire-stopping, waterproofing, and others. Also, the Company has a robust pipeline of acquisition opportunities across multiple geographies, products, and end markets.
Dec 6, 2016, French group Saint-Gobain takes over Romania's Pietta Glass Working
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