Metal bonding adhesives are used for metal-to-metal bonding applications. These adhesives are replacing traditional bonding techniques such as fabrication and fastening. To assemble various metal-based devices and equipment, manufacturers depend on several bonding methods that include mechanical fastening, thermal joining, and adhesive bonding. Thermal joints are difficult to disassemble, while mechanical joints require holes to be drilled into the materials that are to be joined, which may ultimately alter the design of the equipment to be assembled. On the other hand, while bonding metal-to-metal, adhesives can distribute the stress load uniformly over the equipment surface. Hence, metal bonding adhesives are gaining momentum in various applications.
Growth of the metal bonding adhesives market is propelled 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 driving market growth. Metal bonding adhesives are increasingly utilized in the automotive & transportation application, owing to their superior properties such as chemical & corrosion resistance and curing properties. Stringent government regulations and directives for fuel economy in the automotive industry have further contributed to the growth of the metal bonding adhesives market.
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%.
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The automotive & transportation segment is the largest and fastest-growing application segment of the metal bonding adhesives market. Stringent government regulations to reduce emissions have encouraged automotive manufacturers to enhance the fuel economy, which, in turn, have resulted in the increased production of lightweight automotive parts. Such initiatives are expected to fuel the consumption of metal bonding adhesives in the automotive industry. The automotive & transportation segment includes aerospace, automotive, trucks, and buses.
The epoxy-based metal bonding adhesives segment is the largest resin type segment of the metal bonding adhesives market. High peel strength, durability, rapid cure, and low odor are properties of epoxy-based metal bonding adhesives. These superior properties have propelled the demand for epoxy-based metal bonding adhesives during the forecast period. However, acrylic-based metal bonding adhesives segment is the fastest-growing resin type segment of the metal bonding adhesives market. 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.
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The metal bonding adhesives market in the Asia-Pacific region is projected to grow at a high CAGR during the forecast period, in terms of value and volume. China is the fastest-growing country in the Asia-Pacific metal bonding adhesives market. It is projected to be a high growth potential market for metal bonding adhesives, owing to the increased demand for metal bonding adhesives in industrial applications as well as growth of the chemicals, petrochemicals, and food & beverages industries.
Over the past five years, major players in the metal bonding adhesives market have undertaken various development strategies. New product launches/developments, expansions, and acquisitions are some of the key growth strategies adopted by Henkel AG & Co. KGaA (Germany), H.B. Fuller (U.S.), The 3M Company (U.S.), Sika AG (Switzerland), The Dow Chemical Company (U.S.), Arkema S.A. (France.), and Solvay S.A., (Belgium). These strategies have helped enhance the production capacities and increase market share of the aforementioned key players in the metal bonding adhesives market.
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