PUBLISHER: The Business Research Company | PRODUCT CODE: 1409454
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409454
“Glass Bonding Adhesives Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on glass bonding adhesives market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for glass bonding adhesives? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The glass bonding adhesives market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Glass bonding adhesives are formulations designed to unite two surfaces, such as glass to glass or other substrates such as plastics, metals, and rubbers. They are manufactured using a range of materials, including silicone, epoxy, polyurethane, and cyanoacrylate.
The primary types of glass bonding adhesives include polyurethane, modified silanes adhesives, silicone adhesives, acrylate adhesives, epoxy adhesives, cyanoacrylate adhesives, polysulfides, UV or LED curing, and others. Polyurethane, a composite resinous, stringy, or elastomeric compound resulting from the reaction of diisocyanates with other polyfunctional compounds such as glycols, is utilized in glass bonding adhesives for its flexibility or solidity, depending on the composition. It finds application in various industries such as construction, furniture, automotive and transportation, electronics and appliances, consumer goods, and medical devices. This diverse range of applications spans end-use industries such as automotive, aerospace, furniture, construction, electronics, consumer goods, medical, and others.
The glass bonding adhesives market research report is one of a series of new reports from The Business Research Company that provides glass bonding adhesives market statistics, including glass bonding adhesives industry global market size, regional shares, competitors with a glass bonding adhesives market share, detailed glass bonding adhesives market segments, market trends and opportunities, and any further data you may need to thrive in the glass bonding adhesives industry. This glass bonding adhesives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The glass bonding adhesives market size has grown strongly in recent years. It will grow from $3.14 billion in 2023 to $3.4 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth observed in the historical period can be attributed to the expansion of the automotive industry, the rise of renewable energy projects, a growing demand for aesthetic designs, an increased utilization of glass in furniture, the manufacturing of medical devices, and heightened environmental concerns.
The glass bonding adhesives market size is expected to see strong growth in the next few years. It will grow to $4.71 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The anticipated growth in the forecast period can be attributed to the adoption of electric vehicles, the increasing use of wearables, the expansion of the aerospace industry, the growth of e-commerce, rapid urbanization, and the implementation of energy-efficient building standards. Major trends expected in the forecast period include the adoption of UV-curing adhesives, the use of high-performance structural adhesives, the emergence of hybrid adhesive technologies, the development of customized formulations tailored to specific industries, the integration of digitalization and automation in manufacturing processes, and the deployment of 5G technology.
The glass bonding adhesive market is poised for growth, driven by the expanding automotive industry. This industry involves various activities, including designing, manufacturing, wholesale, retailing, and maintaining motor vehicles. Glass bonding adhesives play a crucial role in vehicle assembly bonding processes, particularly as automakers increasingly incorporate sandwich panels, fiberglass composites, and advanced polymers into their designs. This enhances vehicle attributes such as structural integrity, longevity, and thermal stability. For example, in November 2022, the Society of Motor Manufacturers and Traders (SMMT) reported a 7.4% increase in the UK's car production to 69,524 units compared to previous years. Notably, over 81% of these automobiles were exported, with major shipments to the US, Japan, South Korea, and Australia. Hence, the growth of the glass bonding adhesive market is directly linked to the expanding automotive industry.
The glass bonding adhesives market is also expected to benefit from the growth of the construction industry. This sector encompasses planning, design, and execution of building projects across residential, commercial, and infrastructure development. Glass bonding adhesives contribute significantly to structural integrity, durability, and design innovations in construction applications. The demand for high-performance bonding adhesives is further fueled by the increasing preference for modern and aesthetically pleasing architectural designs, often incorporating extensive use of glass. For instance, Statistics Canada reported a 0.4% increase in investment in new construction to $20.3 billion in April 2023, with a 3.4% rise in non-residential spending to $5.9 billion. Additionally, the US Census Bureau noted a 13.8% increase in privately owned housing units approved by building permits in February 2023. This, in turn, supports the growth of the global glass bonding adhesives market.
An emerging trend in the glass bonding adhesive market is the advancement in bonding technology, with major companies focusing on developing innovative products to strengthen their market position. For example, in January 2023, Henkel AG & Co. KGaA introduced Loctite 3296, a dual-cure adhesive designed for lens bonding in ADAS sensors. This adhesive combines UV and thermal curing characteristics, making it suitable for assembly operations requiring low post-cure temperatures and high cure depth after brief exposure to UV light. This innovation addresses the precision needs of assembling camera module components.
Major companies are also launching new products to sustain their position in the market. In May 2022, DINOL introduced an upgraded 30-minute safe-drive-away glass bonding adhesive, Dinitrol 9100 HD, replacing the previous Dinitrol 9100. This adhesive, used in vehicle construction for new glazing and repair, reduces waiting time before driving. It is versatile, suitable for various glass and surfaces, making it applicable across a wide range of applications.
In April 2021, Sika AG acquired Hamatite, a Japanese company specializing in glass bond adhesives. This move aims to expand Sika AG's product range for sealing and bonding solutions in the Japanese construction sector, reinforcing its market presence in Japan. Hamatite, known for its hot melt adhesives for windshields and headlamps, enhances Sika AG's capabilities in the glass bonding adhesive market.
Major companies operating in the glass bonding adhesives market report are AkzoNobel NV, Arkema SA, Ashland Global Holdings Inc., Avery Dennison Corporation, Bohle AG, Bostik SA, Chemence Ltd., Collano Adhesives AG, Daubert Chemical Company Inc., DELO Industrie Klebstoffe GmbH & Co KGaA, DIC Corporation, Dow Inc., DuPont de Nemours Inc., Dymax Corporation, EMS-Chemie Holding AG, Evonik Industries AG, Harvey Benjamin Fuller, Henkel AG & Co KGaA, Hexion Inc., Huntsman Corporation, Jowat SE, Kiwo Inc., Kumkang Korea Chemicals Co. Ltd, Mapei SpA, Master Bond Inc., Minnesota Mining and Manufacturing Company, Momentive Performance Materials Inc., Parker Hannifin Corporation, Permabond LLC, Pidilite Industries Limited, Royal Adhesives & Sealants LLC, Sabre Corporation, Scott Bader Company Ltd., Sika AG, Solvay SA, ThreeBond Group, Wacker Chemie AG .
Asia-Pacific was the largest region in the glass bonding adhesives market in 2023. The regions covered in the glass bonding adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the glass bonding adhesives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The glass bonding adhesives market consists of sales of hot-melt adhesives, non-melt adhesives, reactive hot melt, thermosetting adhesives, pressure sensitive, and contact adhesive adhesives. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.