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Glass Bonding Adhesives Market - What are the main factors that contributing towards industry growth?

Author : Rahul Varpe | Published Date : 2019-04-02 

Increasing disposable income, shift in consumer preferences along with simultaneous rise in demand for luxurious furniture models containing glass should trigger glass bonding adhesives market size. Global luxury furniture market is expected to garner USD 30 billion by 2024, registering a growth of 4.0% during the forecast period.

Global Glass Bonding Adhesives Market size is expected to grow significantly as industry has witnessed an upward trend since 2013 and should account for high gains during forecast timeframe. Increasing demand from both glass processing industries and individual glazier shops should drive industry size. Growing product demand as adhesive solutions for its use in variety of industries including construction, automobile, furniture, optical glass lenses, optical displays for equipment will boost industry growth.

Demand for glass bonding adhesives are also anticipated to witness steady gains by 2024 owing to its intrinsic properties of high bond strength and high resistance to temperature. Applicability over a wide temperature range, precise alignment stability, low stress, high strength, excellent adhesion, no out-gassing and long life should stimulate industry growth.

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Global medical devices market is estimated to reach  USD 345 billion by 2024, forecasted to grow at 5%CAGR from 2017 to 2024. Medical device industry uses glass bonding adhesives for bonding substrates, respiratory devices, oxygenators, needles and syringes, tubes and fittings. UV adhesives possessing flexibility, gap-fill capability, strength and variable viscosities are used to bond a range of difficult to assemble materials, replacing conventional fastening systems used in assembly of medical devices.

North America, led by US and Canada is expected to witness high growth in glass bonding adhesives from medical devices application due to increasing ageing population with multiple chronic diseases and favourable government regulations related to healthcare. Market expansion will be driven by increasing move towards personalised therapy, introduction of innovative devices to cure illnesses associated with ageing population, increasing investment in health insurance facilities and changing lifestyle.

Europe glass bonding adhesives market, led by France, Italy and Germany may witness rapid pace of demand due to substantial spending on healthcare and high production and sales of automotive parts in Western European countries. Glass bonding adhesives are an appropriate replacement for nuts and bolts used in aerospace and automotive industry reducing overall weight of the vehicle. Stringent regulations governing VOC emissions from glues used in building and construction products, electronic components and automotive body will propel the use of sustainable non-hazardous glass bonding adhesive which are more environment friendly and technologically advanced.

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Global glass bonding adhesive market share is moderately consolidated with key industry participants including KIWO, Ashland, Dymax Corporation, Bohle AG, H.B. Fuller Company, Henkel AG & Co., Sika AG, Master Bond Inc.DowDuPont which are an integral part of the market focused on strengthening their regional presence.
 




 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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