What Does the Historical and Current Glass Bonding Adhesives Market Size Trend Indicate?
The glass bonding adhesives market has seen considerable growth due to a variety of factors.
• There has been a robust expansion in the market size of glass bonding adhesives in the past few years. The market is projected to rise from $3.38 billion in 2024 to $3.66 billion by 2025, representing a compound annual growth rate (CAGR) of 8.3%. Factors contributing to the growth witnessed in the historical period include increased activity in the automotive industry, renewable energy initiatives, a preference for artistic designs, the growing practice of utilizing glass in furniture creation, medical device production, and environmental worries.
How Will the Glass Bonding Adhesives Market?
The Glass Bonding Adhesives market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for glass bonding adhesives is anticipated to witness robust growth in the forthcoming years. It is projected to reach a value of $5.19 billion by 2029, growing at a compound annual growth rate (CAGR) of 9.1%.
This growth during the prediction period can be linked to factors like the proliferation of electric vehicles, escalated usage of wearables, the buoyant expansion of the aerospace sector, the rise of e-commerce, swift urbanization, and energy-efficient building norms. Key trends to watch for during the prediction period include UV-curable adhesives, high-performance structural adhesives, hybrid adhesive technology, custom formulations tailored to unique industries, the digitalization and automation of manufacturing processes, and the implementation of 5g technology.
Which Factors Are Boosting Growth In The Glass Bonding Adhesives Market?
The growth of the glass bonding adhesive market is expected to be significantly boosted by the burgeoning automotive industry. The latter entails an industry that creates, manufactures, distributes on a wholesale and retail level, and services motor vehicles. The automotive sector benefits from glass bonding adhesive, which is used in the vehicle assembly bonding process. This is attributed to manufacturers increasingly incorporating sandwich panels, fiberglass composites, and complex polymers into their vehicle designs. The goal is to lighten motor vehicles while enhancing their structural integrity, lifespan, and thermal stability. As an example, in May 2024, the International Energy Agency (IEA) shared that sport utility vehicles (SUVs) accounted for 48% of international car sales, hitting a fresh peak in 2023. This reaffirmed their growing popularity in the automotive sector. In advanced economies, SUV sales exceeded 20 million in 2022, reaching a 50% market share for the first time. Furthermore, over 360 million SUVs were in circulation globally. As such, the blossoming automotive industry is catalyzing the growth of the glass bonding adhesive market.
What Key Areas Define The Segmentation Of The Global Glass Bonding Adhesives Market?
The glass bonding adhesives market covered in this report is segmented –
1) By Type: Polyurethane, Modified Silanes Adhesives, Silicone Adhesives, Acrylate Adhesives, Epoxy Adhesives, Cyanoacrylate Adhesives, Polysulfides, UV Or LED Curing, Other Types
2) By Application: Construction, Furniture, Automotive And Transportation, Electronics And Appliances, Consumer Goods, Medical Devices, Other Applications
3) By End-Use Industry: Automotive, Aerospace, Furniture, Construction, Electronics, Consumer Goods, Medical, Other End-Use Industries
Subsegments:
1) By Polyurethane Adhesives: Moisture-Cured Polyurethane, One-Part Polyurethane, Two-Part Polyurethane
2) By Modified Silanes Adhesives: Silane Terminated Polyethers, Silane Terminated Polyurethanes
3) By Silicone Adhesives: Acetoxy Silicone, Neutral Silicone, Oxime Silicone
4) By Acrylate Adhesives: Methyl Methacrylate, Acrylate Copolymers
5) By Epoxy Adhesives: One-Part Epoxy, Two-Part Epoxy
6) By Cyanoacrylate Adhesives: Ethyl Cyanoacrylate, Methyl Cyanoacrylate
7) By Polysulfides: One-Part Polysulfide, Two-Part Polysulfide
8) By UV or LED Curing Adhesives: UV-Curing Acrylics, UV-Curing Epoxies
9) By Other Types: Thermal Set Adhesives, Pressure Sensitive Adhesives
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How Are Emerging Trends Reshaping The Dynamics Of The Glass Bonding Adhesives Market?
Progress in adhesive technology is an emerging trend gaining traction in the glass bonding adhesive market. Leading companies in this market are creating innovative products to secure their market share. For instance, in January 2023, Germany-based Henkel AG & Co. KGaA, known for its adhesives and sealants, launched Loctite 3296, a new adhesive designed specifically for lens bonding in ADAS sensors. This dual-cure adhesive UV and thermal adhesive is designed to accommodate a range of assembly needs with its unique adhesive performance characteristics. Loctite 3296 is ideal for assembly operations that necessitate low post-cure temperatures and boasts a deep curing effect after only a few seconds of UV light exposure, making it perfectly suited for the precise assembly of camera module components.
Who Are the Key Players In The Glass Bonding Adhesives Market?
Major companies operating in the glass bonding adhesives market include:
• Arkema SA
• Ashland Global Holdings Inc.
• Bohle AG
• Chemence Ltd.
• Collano Adhesives AG
• DELO Industrie Klebstoffe GmbH & Co KGaA
• DIC Corporation
• Dow Inc.
• DuPont de Nemours Inc.
• Dymax Corporation
• Evonik Industries AG
• Harvey Benjamin Fuller
• Henkel AG & Co KGaA
• Hexion Inc.
• Huntsman Corporation
• Jowat SE
• Kiwo Inc.
• Mapei SpA
• Master Bond Inc.
• Minnesota Mining and Manufacturing Company
• Momentive Performance Materials Inc.
• Permabond LLC
• Pidilite Industries Limited
• Scott Bader Company Ltd.
• Sika AG
• Solvay SA
• ThreeBond Group
• Wacker Chemie AG
What Is The Most Dominant Region In The Glass Bonding Adhesives Market?
Asia-Pacific was the largest region in the glass bonding adhesives market in 2024. The regions covered in the glass bonding adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
