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Luton, Bedfordshire, United Kingdom, Aug. 19, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Metal Bonding Adhesives Market.
The metal bonding adhesives market is primarily driven by its expanding applications, which range from design and manufacturing to repair, maintenance, and field services. These composites come in a variety of viscosities, chemical resistances, electrical properties, cure times, colors, and so on. Abrasion resistance, vibration resistance, dimensional stability, thermal conductivity, low shrinkage, low outgassing, and a low coefficient of expansion are some of its properties.
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Metal Bonding Adhesives Market size valued at over USD 8.6 billion by 2029 from USD 4.2 billion in 2020 and is likely to register a prominent CAGR of close to 7.5% to 2029.
The installation of new industrial plants and the flourishing infrastructure development in developing markets favor modern, cutting-edge bonding and fastening techniques. These trends will result in the development of new environmentally friendly adhesive systems with higher solids contents, such as water-based or hot melt products. Rising per capita income in developing countries, as well as increased use of adhesives in several end-use industries such as aerospace, defense, electronics, and pharma, are key factors driving growth in metal bonding adhesives market share.
Metal Bonding Adhesives suppliers have been focusing on mergers and acquisitions to gain a competitive edge in the global landscape and expand their business scope.
• In January 2022, Henkel intends to merge Laundry & Home Care and Beauty Care to form a new "Consumer Brands" business unit.
• In January 2022, The acquisition of Exalead is yet another step toward accelerating innovation in Merck KGaA's Process Solutions business unit.
• In Feb 2022, H.B. Fuller Company announced the acquisition of Fourny NV of Belgium, a well-known provider of construction adhesives in technologies focused on commercial roofing, construction, and other private label industrial specialties
The Asia-Pacific metal bonding adhesives market is expected to grow at the fastest rate.
The Asia Pacific metal bonding adhesives market will expand significantly due to increased demand for technologically advanced consumer electronics and automobile production in China, which held a regional market share of more than 25% in 2020. The recovery in the developed world, combined with a strong upswing in the emerging markets of China, India, Vietnam, Thailand, and Indonesia, will boost investments in the food and beverage and oil and gas industries. Furthermore, the relocation of manufacturing hubs due to the availability of low-cost raw materials and labor in India, Thailand, Indonesia, and China, as well as increased investments by multinationals in the automobile sector and growing competition among market players to establish a manufacturing base in APAC, are major factors driving the revenue outflow of the region's metal bonding adhesives market size.
Key Trends of Metal Bonding Adhesives Market
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Companies are mainly metal bonding adhesives they are competing closely with each other. Innovation is one of the most important key strategies as it has to be for any market. However, companies in the market have also opted and successfully driven inorganic growth strategies like mergers & acquisitions, and so on.
These key players include Henkel, AG & Co. KGaA, H.B. Fuller, The 3M Company, Sika AG, The Dow Chemical Company, Arkema S.A., Solvay S.A., LORD Corporation, DELO Industrie Klebstoffe GmbH & Co. KGaA, and Parson Adhesives, Inc others.
Key Market Segments: Metal Bonding Adhesives Market
Metal Bonding Adhesives Market by Type, 2022-2029, (USD Million, and Kilotons)
Metal Bonding Adhesives Market by Application, 2022-2029, (USD Million, Kilotons)
Metal Bonding Adhesives Market by Region, 2022-2029, (USD Million, and Kilotons)
Metal Bonding Adhesives Market: Drivers
One of the key drivers supporting the growth of the metal bonding adhesives market is the increasing replacement of mechanical fasteners with industrial adhesives. Adhesives have become an essential component of many industrial applications. Prior to the introduction of advanced adhesives, mechanical or thermal fastening methods were used for bonding applications in industries. Metal bonding adhesives are increasingly replacing traditional methods of joining and fastening such as mechanical fastening, welding, and other joining/fastening methods. Mechanical fasteners are increasingly being replaced with metal bonding adhesives in a variety of end-user industries, including construction, consumer durables, and others. Manufacturers use these metal bonding adhesives in industrial applications because they outperform conventional methods in terms of product performance and efficacy. Such factors are propelling the market forward.
Metal Bonding Adhesives Market: Challenges
Environmental regulations are impeding the growth of the metal bonding adhesives market. In the United States, for example, the Food and Drug Administration (FDA) provides guidelines for food packaging, including flexible food packaging, under the Food, Drug, and Cosmetic Act (sections 301-399d). Before they can operate, food processing units must meet stringent control parameters and adhere to well-defined processes. The substances that have been affirmed as generally recognized as safe (GRAS) and are used in food packaging must adhere to regulation 21 CFR 186. As a result, such regulations are likely to restrain the global metal bonding adhesives market's growth during the forecast period.
Metal Bonding Adhesives Market: Opportunities
With the increasing number of stringent control strategies, the Metal Bonding Adhesives Market has been getting a lot of opportunities in both the firms. The metal holding capacities of the adhesives have made it a firm to make sure of the proper production of the regulation of the adhesives in the forecast period.
Metal Bonding Adhesives Market: Restraints
The major market restraints faced by the market are due to the old and composing methods that the market in the adhesive departments that they have been using. The introduction of the new and conventional methods has made it pretty easier for the adhesive marketing departments to make it a hard run for the industry to keep up with the firms.
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