Metal Bonding Adhesives Market - Forecast(2024 - 2030)
Metal Bonding Adhesives Market Overview
The Metal Bonding Adhesives
market size is estimated to reach US$10.5 billion by 2027, after growing at a CAGR
of 5.8% during the forecast period 2022-2027. Metal bonding adhesives are high-strength
joining compounds that are used to bind metal substrates together and it
includes polyurethanes, epoxy, acrylic, cyanoacrylate and anaerobic. Metal bonding adhesives evenly disperse stress across
the entire surface area, reducing stress in a particular region. The rise in
demand for metal bonding adhesives in automotive, transportation and
industrial applications is likely to drive market expansion over the forecast
period. Metal Bonding Adhesives are also frequently employed in industrial
applications including ultra-centrifuge rotors, machinery-based plates, cooling
water pumps, reaction injecting molding machines, cooling water pumps and
industrial pumps. The covid-19 pandemic majorly impacted the metal bonding
adhesives market
due to restricted production, supply chain disruption, logistics restrictions
and a fall in demand. However, with robust growth and flourishing applications
across major industries such as automotive, industrial and others, the metal
bonding adhesives market size is anticipated to grow rapidly during the forecast
period.
Metal Bonding Adhesives Report Coverage
The “Metal Bonding
Adhesives Report – Forecast (2022-2027)” by IndustryARC,
covers an in-depth analysis of the following segments in the Metal Bonding
Adhesives industry.
By Type: Solid, Acrylic,
Epoxy, Polyurethane, Silicone, Modified Phenolic and
Others.
By End-use Industry:
Transportation (Automotive, Aerospace, Marine and Locomotive), Building &
Construction (Residential, Commercial and Industrial), Electrical &
Electronics, Medical & Healthcare and Others.
By Geography: North
America (the USA, Canada and Mexico), Europe (UK, Germany, France, Italy,
Netherlands, Spain, Belgium and the Rest of Europe), Asia-Pacific (China, Japan,
India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and
Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South
America), Rest of the World [Middle East (Saudi Arabia, UAE, Israel and Rest of
the Middle East) and Africa (South Africa, Nigeria and Rest of Africa)].
Key Takeaways
- Asia-Pacific dominates the Metal Bonding Adhesives market size, the increase in demand from end-user sectors, such as electronics, aerospace and medical & healthcare, is the main factor driving the region's growth.
- Increased demand for lightweight and low-carbon-emitting vehicles, as well as increased demand for low VOC, green and sustainable metal bonding adhesives, will provide additional opportunities for metal bonding adhesives market growth in the coming years.
- Recent advancements in the automotive industry, new potential applications of adhesives to economically replace mechanical fastening such as welding, brazing, or riveting and a variety of other trends will all contribute to the growth of the metal bonding adhesives market.
- However, fluctuation in raw material prices such as crude oil is anticipated to hamper the Metal Bonding Adhesives market size growth during the forecast period.
Metal Bonding Adhesives Market Segment Analysis – by Type
Epoxy held the largest share
in the Metal Bonding Adhesives Market share in 2021 and is estimated to grow
at a CAGR of 5.9% during the forecast period 2022-2027, owing to extensive
characteristics provided by epoxy over other material types such as silicone,
acrylic, anaerobic, polyurethane and others. The epoxy segment is widely used
in industries such as automotive, optical, medical, chemical processing,
electronics and others. In the aerospace industry, the product is also used to
repair and assemble satellites, solar systems and panels, honeycomb and
connecting pieces, rotor blades and brake systems. As a result, epoxy-based
products are widely used in the creation of durable, lightweight components,
fueling global market expansion. Thus, owing to tremendous advantages and availability
over material types such as acrylic, anaerobic and silicone, the demand for
epoxy is growing for application in major industries, thereby boosting the
growth opportunities for the metal bonding adhesives industry in the projected
years.
Metal Bonding Adhesives Market Segment Analysis – by End-use Industry
Automotive held the largest
share in the Metal Bonding Adhesives Market share in 2021 and is projected to
grow at a CAGR of 6.2% during the forecast period 2022-2027, owing to the
increasing usage of metal bonding adhesive in automotive components. Metal
bonding adhesives are widely utilized in the automotive and transportation
industries. Metal bonding adhesives are widely used by Original Equipment
Manufacturers (OEMs) for automotive exteriors and panel bonding. Metal bonding
adhesives are also utilized to join the body panels of buses and vehicles. According to the Energy Information Administration
(EIA), by 2035, there will be 1.7 million automobiles worldwide. According
to the International Organization of Motor Vehicle Manufacturers (OICA),
automobile output increased by 10% in the first nine months of 2021, to 57.26
million vehicles, up from 52.15 million units in the same period last year.
With the increasing automotive production, the demand for metal bonding adhesives
will also likely increase, as a result of which the metal bonding adhesives
market share will be flourished over the forecast period.
Metal Bonding Adhesives Market Segment Analysis – by Geography
The Asia-Pacific held the largest share in the Metal Bonding Adhesives Market share in 2021 up to 42%. The flourishing growth of metal bonding adhesives is influenced by its significant applications across major industries, along with growing development in automotive production and the development of the base for metal bonding adhesives in APAC. The automotive sector in Asia-Pacific is rapidly growing due to a flourishing base for automotive manufacturers, demand for automotive compounds and production rise. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), automotive production and Vietnam grew by 1.2 percent and 5.5 percent from the previous year to 5,71,632 and 2,50,000 units, respectively, in 2019. In November 2020, Boeing forecasted that China's airlines would spend US$1.4 trillion on 8,600 new planes and US$1.7 trillion on commercial aircraft services over the next 20 years. According to India Brand Equity Foundation (IBEF), India’s domestic automobile production increased at a 2.36 per cent CAGR from FY16 to FY20, with 26.36 million vehicles produced in FY20. Between FY16 and FY20, domestic automobile sales increased at a 1.29 percent compound annual growth rate (CAGR), with 21.55 million vehicles sold in FY20. According to the Japan Automobile Manufacturers Association (JAMA), automobile production in Japan increased in November from 6,67,462 units in October to 6,90,311 units. Thus, the growth of metal bonding adhesives in the region is being aided by the increasing automotive sector in APAC, thereby dominating the market in the Asia-Pacific region.
Metal Bonding Adhesives Drivers
Bolstering Growth of the Building & Construction Industry:
Metal bonding adhesives are increasingly being employed in the industrial sector. These are primarily used to bond steel, aluminum and other metals together in order to reduce the number of welds required in the manufacturing of metal structures. This is mostly due to the fact that adhesive solutions provide greater structural support than welding methods, which is driving market expansion and expanding the market globally. According to the International Trade Administration, the construction sector in China is projected to grow at an average of 8.6% from the year 2022 to 2030. According to Oxford Economics, the global construction output in 2020 was US$10.7 trillion 2020 and is expected to grow by 42% between 2020-2030 and reach US$15.2 trillion by 2030. With the rise in building and construction projects across the globe, the demand for melt bonding adhesives is anticipated to rise for various applications, which is projected to boost the market growth in the building and construction industry during the forecast period.
Bolstering Growth of the Aerospace Industry:
Melt Bonding Adhesives
offer numerous benefits that will serve as growth pillars for the aerospace
industry. In the aerospace sector, metal bonding adhesives make thin metal and
honeycomb structures more practical since adhesives transmit stress more
effectively than welds or rivets. Metal bonding adhesives have properties such
as abrasion resistance, vibration resistance, dimensional stability, thermal
conductivity, low shrinkage, low outgassing and a low coefficient of
expansion, which drives the market growth of metal bonding adhesives in the
aerospace industry. For instance, in November 2020, Boeing projected that
China's airlines will buy US$1.4 trillion worth of 8,600 new aircraft and
US$1.7 trillion worth of commercial aviation services over the next 20 years.
According to Boeing's current business forecast, the Middle East would need
2,520 new aircraft by 2030. Also, according to Boeing India is expected to
drive the demand for 2,300 aircrafts worth US$320 billion over the next 20 years.
Considering the benefits associated with metal bonding adhesives are expected
to have great potential applications in aerospace. Hence, the
increasing aerospace industry will act as a driver for the metal bonding
adhesives market.
Metal Bonding Adhesives Challenge
Fluctuating Raw Material Prices:
Price fluctuations
in raw materials used to make polycarbonate are a significant concern for the
global polycarbonate market. Rapid fluctuations in raw material prices like
polyurethanes, epoxy, acrylic and a lack of product availability are expected
to hinder the worldwide metal bonding adhesives market in the near future.
Moreover, metal bonding adhesives are a bonding material that is extensively
utilized in sectors like electronics, aerospace and automobiles and is
regarded as one of the important elements across the globe. The prior
disruptions and price changes in the metal bonding adhesives market suggest
issues with the stability and resilience of the supply chain. However, the
emergence of sustainable products with low volatile organic compound
concentrations is expected to generate attractive prospects for market small
and medium-sized companies. As a result, all these key factors limit the market
growth of the metal bonding adhesives industry.
Metal Bonding Adhesives Industry Outlook
Technology launches, acquisitions
and R&D activities are key strategies adopted by players in the Metal
Bonding Adhesives market. The top 10 companies in the Metal Bonding Adhesives
market are:
- 3M
- Arkema Group (Bostik SA)
- DELO Industrie Klebstoffe GmbH & Co. KGaA5
- Dow
- H.B. Fuller Company
- Henkel AG & Co. KgaA
- Parker Hannifin Corp (Lord Corporation)
- Parson Adhesives Inc.
- Sika AG
- Solvay
Recent Developments
- In July 2021, DELO Industrial Adhesives introduced the DELO MONOPDX HT2999 adhesive, which has been developed particularly for the automobile sector and mechanical engineering.
- In June 2021, DuPont introduced a new sealing and bonding adhesive for EV battery packs. The new adhesive bonds coated metals, pre-treated thermoplastics and composites - or any multi-material combination - make it ideal for EVs.
- In April 2020, Dow introduced fast-curing silicone adhesive for decreased energy use and increased assembly efficiency at any manufacturing volume.
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LIST OF TABLES
1.Global Metal Bonding Adhesives Market By Resin Type Market 2023-2030 ($M)1.1 Epoxy-Based Metal Bonding Adhesives Market 2023-2030 ($M) - Global Industry Research
1.2 Acrylic-Based Metal Bonding Adhesives Market 2023-2030 ($M) - Global Industry Research
1.3 Polyurethane-Based Metal Bonding Adhesives Market 2023-2030 ($M) - Global Industry Research
2.Global Metal Bonding Adhesives Market By Resin Type Market 2023-2030 (Volume/Units)
2.1 Epoxy-Based Metal Bonding Adhesives Market 2023-2030 (Volume/Units) - Global Industry Research
2.2 Acrylic-Based Metal Bonding Adhesives Market 2023-2030 (Volume/Units) - Global Industry Research
2.3 Polyurethane-Based Metal Bonding Adhesives Market 2023-2030 (Volume/Units) - Global Industry Research
3.North America Metal Bonding Adhesives Market By Resin Type Market 2023-2030 ($M)
3.1 Epoxy-Based Metal Bonding Adhesives Market 2023-2030 ($M) - Regional Industry Research
3.2 Acrylic-Based Metal Bonding Adhesives Market 2023-2030 ($M) - Regional Industry Research
3.3 Polyurethane-Based Metal Bonding Adhesives Market 2023-2030 ($M) - Regional Industry Research
4.South America Metal Bonding Adhesives Market By Resin Type Market 2023-2030 ($M)
4.1 Epoxy-Based Metal Bonding Adhesives Market 2023-2030 ($M) - Regional Industry Research
4.2 Acrylic-Based Metal Bonding Adhesives Market 2023-2030 ($M) - Regional Industry Research
4.3 Polyurethane-Based Metal Bonding Adhesives Market 2023-2030 ($M) - Regional Industry Research
5.Europe Metal Bonding Adhesives Market By Resin Type Market 2023-2030 ($M)
5.1 Epoxy-Based Metal Bonding Adhesives Market 2023-2030 ($M) - Regional Industry Research
5.2 Acrylic-Based Metal Bonding Adhesives Market 2023-2030 ($M) - Regional Industry Research
5.3 Polyurethane-Based Metal Bonding Adhesives Market 2023-2030 ($M) - Regional Industry Research
6.APAC Metal Bonding Adhesives Market By Resin Type Market 2023-2030 ($M)
6.1 Epoxy-Based Metal Bonding Adhesives Market 2023-2030 ($M) - Regional Industry Research
6.2 Acrylic-Based Metal Bonding Adhesives Market 2023-2030 ($M) - Regional Industry Research
6.3 Polyurethane-Based Metal Bonding Adhesives Market 2023-2030 ($M) - Regional Industry Research
7.MENA Metal Bonding Adhesives Market By Resin Type Market 2023-2030 ($M)
7.1 Epoxy-Based Metal Bonding Adhesives Market 2023-2030 ($M) - Regional Industry Research
7.2 Acrylic-Based Metal Bonding Adhesives Market 2023-2030 ($M) - Regional Industry Research
7.3 Polyurethane-Based Metal Bonding Adhesives Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Metal Bonding Adhesives Market Revenue, 2023-2030 ($M)2.Canada Metal Bonding Adhesives Market Revenue, 2023-2030 ($M)
3.Mexico Metal Bonding Adhesives Market Revenue, 2023-2030 ($M)
4.Brazil Metal Bonding Adhesives Market Revenue, 2023-2030 ($M)
5.Argentina Metal Bonding Adhesives Market Revenue, 2023-2030 ($M)
6.Peru Metal Bonding Adhesives Market Revenue, 2023-2030 ($M)
7.Colombia Metal Bonding Adhesives Market Revenue, 2023-2030 ($M)
8.Chile Metal Bonding Adhesives Market Revenue, 2023-2030 ($M)
9.Rest of South America Metal Bonding Adhesives Market Revenue, 2023-2030 ($M)
10.UK Metal Bonding Adhesives Market Revenue, 2023-2030 ($M)
11.Germany Metal Bonding Adhesives Market Revenue, 2023-2030 ($M)
12.France Metal Bonding Adhesives Market Revenue, 2023-2030 ($M)
13.Italy Metal Bonding Adhesives Market Revenue, 2023-2030 ($M)
14.Spain Metal Bonding Adhesives Market Revenue, 2023-2030 ($M)
15.Rest of Europe Metal Bonding Adhesives Market Revenue, 2023-2030 ($M)
16.China Metal Bonding Adhesives Market Revenue, 2023-2030 ($M)
17.India Metal Bonding Adhesives Market Revenue, 2023-2030 ($M)
18.Japan Metal Bonding Adhesives Market Revenue, 2023-2030 ($M)
19.South Korea Metal Bonding Adhesives Market Revenue, 2023-2030 ($M)
20.South Africa Metal Bonding Adhesives Market Revenue, 2023-2030 ($M)
21.North America Metal Bonding Adhesives By Application
22.South America Metal Bonding Adhesives By Application
23.Europe Metal Bonding Adhesives By Application
24.APAC Metal Bonding Adhesives By Application
25.MENA Metal Bonding Adhesives By Application
26.Henkel AG & Co. KGaA, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.H.B. Fuller, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Sika AG, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.The 3m Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.The DOW Chemical Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Lord Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Delo Industrie Klebstoffe GmbH & Co. KGaA, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Arkema S.A., Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Solvay S.A., Sales /Revenue, 2015-2018 ($Mn/$Bn)