According to a recent Fact.MR analysis, the global Bonding Adhesives market is expected to grow at a CAGR of over 7% through 2030. With a surge in demand for Bonding Adhesives to be employed between glass and other materials such as metals, rubbers, plastics, and others from diverse industries such as electronics, transportation, and construction, the market is quickly gaining pace.
The growing use of Bonding Adhesives in a variety of industries, such as construction, automotive, and healthcare, is fueling market growth. However, as a result of the COVID-19 epidemic affecting these industries on a macro level, demand for bonding adhesives has dwindled. Early recovery in these industries, according to Fact.MR’s will be critical to bonding adhesive sales.
Bonding Adhesives Market: Key Takeaways
- The ideal substance is UV curable acrylate.
- The building and construction industry will be the most in demand.
- The Asia-Pacific region will remain a focal point, with China and India offering long-term potential.
- During the assessment period, the North American Bonding Adhesives market will be driven by steady demand in the United States.
- The global Bonding Adhesives market is experiencing a slowdown due to the COVID-19 outbreak.
“Over the last five years, the building and construction sector has risen at a rate of over 6%, and it is expected to continue to increase in the future.” As a result, Bonding Adhesives are in high demand in this industry. Due to its high optical clarity and great bonding quality, demand for UV Bonding Adhesives is expected to expand rapidly, according to a Fact.MR analyst.
Expanding Building & Construction Industry Boosting Growth
Bonding Adhesives offer unique properties such as non-yellowing, moisture resistance, rigidity, chemical inertness, and others, all of which are essential in the joining of diverse components made of various materials such as steel, glass, wood, fabrics, plastic, and others.
Because Bonding Adhesives are made of solvent-free ingredients, they are more popular in the construction business. The building and construction sector is rapidly developing as a result of rising population and industrialization, which is assisting the expansion of the Bonding Adhesives market. While population growth in Asia Pacific was 1.07 percent in 2019, it is predicted to maintain a steady 1.2 percent growth rate through 2050.