The metal bonding adhesives market is poised to grow to $7.7 billion by 2021, a compound annual growth rate of 6.5 percent, according to market research firm Markets and Markets. Market value for this sector was valued at $5.3 billion in 2015.
This steady growth is due in part to the increasing adoption of metal bonding adhesives for automotive and industrial purposes. Government regulations that hope to enhance fuel economy are also expected to boost growth, Markets and Markets reports.
Looking at market segments, epoxy-based metal bonding adhesives dominate the sector, followed by acrylic-based adhesives.
“Epoxy-based adhesives are widely preferred for metal bonding, owing to their durability, high strength, temperature resistance, and excellent depth of cure,” says a report from Markets and Markets. “These adhesives are known as Crash Durable Adhesives, as they encompass superior bonding properties resulting into improved crash resistance. Hence, epoxy-based metal bonding adhesives are widely preferred in manufacturing lightweight automotive parts.”
Moving to market segments, the automotive and transportation industries are the top users of metal bonding adhesives, mostly by original equipment manufacturers for exteriors and panel bonding. Industrial applications take the number-two spot for the market with some manufacturers relying on them as an alternative to traditional bonding methods for heat treatment and fastening. Some industrial applications include ultracentrifuge rotors, machinery base plates, cooling water pumps, reaction injecting molding machines, and industrial pumps.
The Asian-Pacific region uses metal bonding adhesives the most, with growth seen in places like India, Vietnam, Indonesia, and Thailand. Investments in the chemicals, petrochemicals, oil and gas, and food and beverage industries from this region has helped drive growth.