DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Metal Bonding Adhesives Market by Resin Type (Acrylic, Epoxy, Polyurethane, Silicone, and Modified Phenolic Resin), Application (Automotive & Transportation, Industrial, and Appliances), and Region - Global Forecast to 2021" report to their offering.
The metal bonding adhesives market was valued at USD 5.30 billion in 2015 and is projected to reach USD 7.70 billion by 2021, at a CAGR of 6.5% from 2016 to 2021.
In terms of volume, the metal bonding adhesives market is projected to grow from 1,337.5 KT in 2015 to 1,871.1 KT, by 2021, at a CAGR of 5.8% during the forecast period.
Growth of the metal bonding adhesives market is mainly driven by the expansion of the automotive, pharmaceutical, mining, and chemical industries. Growing preference for metal bonding adhesives over traditional bonding techniques such as fabrication and mechanical fastening is another significant factor driving the growth of the market. Fluctuation in raw material prices is affecting the value chain, which acts as a major restraint to the growth of the metal bonding adhesives market.
The acrylic-based metal bonding adhesives segment is the fastest-growing resin type segment of the metal bonding adhesives market, followed by epoxy-based metal bonding adhesives. Demand for acrylic adhesives is mainly propelled by their impact strength, excellent adhesion, and excellent bond strength equivalent to that of epoxy-based adhesives. These adhesives are mainly used as anaerobic adhesives in industrial applications.
The automotive & transportation segment is the fastest-growing application segment of the metal bonding adhesives market. Increasing usage of metal bonding adhesives that are replacing traditional bonding methods, such as fabrication and fastening, is anticipated to drive the growth of the metal bonding adhesives market in the automotive & transportation application segment. These adhesives are increasingly utilized to develop automotive exteriors and body panels of buses and trucks as well as in panel bonding applications.
- Increased Demand in Automotive & Transportation and Industrial Applications
- High Demand for Metal Bonding Adhesives in Asia-Pacific
- Volatility in Raw Material Prices
- Economic Slowdown in Europe and South America Affecting the Sales of Metal Bonding Adhesives
- Increasing Demand for Lightweight and Low Carbon Emitting Vehicles
- Growing Demand for Low Voc, Green, and Sustainable Metal Bonding Adhesives
- Stringent and Time-Consuming Regulatory Policies
- Arkema S.A.
- Delo Industrie Klebstoffe GmbH & Co. KGaA
- H.B. Fuller
- Henkel AG & Co. KGaA
- Lord Corporation
- Parson Adhesives, Inc.
- Sika AG
- Solvay S.A.
- The 3m Company
- The DOW Chemical Company
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