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Assembly Adhesives Market, Size, Share, Opportunities and Forecast, 2020-2027




(EnergyIndustry.Net, June 24, 2020 ) Market Overview
The Global Assembly Adhesives Market is expected to grow at a CAGR during the forecasting period (2020-2027).
Adhesives are the substances used for joining the surfaces, by an adhesive or cohesion process. These substances allow the permanent assembly of similar and dissimilar substrates in various industries such as electronics, circuitry, chemical mining, solar panel and other industries. Adhesives such as epoxies, urethanes, cyanoacrylates, modified acrylics and hot melts are widely used for assembly purposes.

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Market Dynamics:
The market growth is driven by the rising demand for assembly adhesives with product chemistries to bond and seal a variety of substrates in various industries such as electronics, automotive, aerospace, energy, building constructions and others.
Assembly adhesives are widely used in the automobile industry due to the availability of several dissimilar materials on the vehicle production line. Further, it is expected that the launch of the pure Electric Vehicles (EVs) to replace the Internal Combustion engines (ICs) would increase the usage of assembly adhesives over the forecasted period as Electric Vehicles (EVs) and Internal Combustion (ICs) are build and build and component differences.
The global assembly adhesives market is witnessing the launch of the new products that could have a positive impact on the market. For instance, in May 2017, Sika Corporation had launched a new methyl methacrylate (MMA) adhesive for transportation and industrial assembly. The company had added two products i.e. SikaFast-3300 and SikaFast-3500 at the SikaFast product range. These products have high sheer, peel and impact strength for use in transportation and industrial assembly.
In April 2019, Henkel Corporation had launched the new, high-strength adhesive designed for the streamlined assembly of optical components and modules. The material, LOCTITE STYCAST OS 8300, is a two-part, dispensable epoxy adhesive conducive to high-volume manufacturing requirements and delivering improved adhesion performance as compared to previous-generation materials.
However, the use of assembly adhesives could result in a lack of familiarity among engineers and standard specifications. Moreover, assembly adhesives are complex in terms of preparation, application, and curing. All these factors could have a negative impact on the market.

Market Segmentation Analysis
The global assembly adhesives market is segmented based on type as epoxy, cyanoacrylates polyurethane, methyl methacrylate, and others. Epoxy contributes to the significant market size. Epoxy assembly adhesives are viscous liquids or pastes. These assembly adhesives are less sensitive to slight variations in the mixture ratio. Epoxy assembly adhesives provide the long open times for repositioning and assembly of complex shapes.
The polyurethane segment is expected to have a positive market growth due to high usage of polyurethane in the assembly of printed-wiring boards to attach large components such as capacitors, magnetics, heat sinks, and connectors due to its characteristics such as flexibility, absorption of stresses, vibration damping, and thermal transfer. Polyurethane assembly adhesives are widely used in automotive, parking deck & sidewalk sealing, construction, and marine applications.
Further, the market is also classified on the basis of technologies as water-based, solvent-based, hot melt, and UV curable. Water-based assembly adhesives are used for packaging and bottling industries, paper, woodworking, plastic, and fabric industries due to advantages such as variety, flexibility, and economic practicality. These adhesives can quickly form powerful bonds unless exposed directly to excess water or moisture.
There is increased use of solvent-based assembly adhesives in assembly operations for bonding of rubber and leather in the shoe industry, rubber and metal in sealing, and bonding the plastic boards to sheet steel.
Global assembly adhesives market is segmented based on applications as automotive, aerospace, building construction, energy, textile, and others. The automotive segment accounts for the highest market share due to the advancements in the automobiles, such as higher usage of sensors, infotainment systems, and body panels, the amount of adhesive usage has increased the use of assembly adhesives in the automotive industry.
Assembly adhesives are expected to have positive market growth. Assembly adhesives are preferred for the efficient use of material to save cost, weight, and volume, preassembling the building components to save time and onsite labor, improving the performance by the achievement of more rigid joints for the development of materials in the building construction.

Market Geographical Analysis
By region, the global assembly adhesives market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East and Africa. Among all of the regions, the Asia Pacific region accounts for the highest market share due to rising demand for assembly adhesives in building & construction, automotive & transportation especially in developing countries such as India, China, South Korea, and others. According to the National Investment Promotion and Facilitation Agency, the Indian construction industry was historically growing at a CAGR of 2.9% during 2011-15 and is expected to grow at a CAGR of 5.6% from 2016 to 2020. India will emerge as the third-largest globally by 2025. There is growing government investment in the construction industry for constructing buildings. The construction sector was the second-largest Foreign Direct Investment (FDI) recipient sector for India in 2017.
Europe accounts for a significant market share due to the presence of developed automotive and aerospace industries in European Countries especially Germany, the United Kingdom, and Spain. According to European Commission, the automobile industry plays a vital role in the economy as Europe is among the world's biggest producers of motor vehicles and the largest private investor sector in research and development (R&D) activities. More than half of the patents related to the automobile have been filed in Europe. As per the European Automobile Manufacturers Association, automobile manufacturers operate some 309-vehicle assembly and production plants in 27 countries across Europe. The automobile industry generates Euros 84.4 Billion trade surplus for Europe. Rising use of lightweight and low carbon-emitting vehicles shall stimulate market growth over the forecasted period.

Market Competitive Analysis
The market is witnessing high competition with the presence of several local and international players are present in the market. There are lucrative opportunities are available in the market with the launch of new products. Henkel AG & Co., Ashland Inc., 3M Company, Hubei Huitian Adhesive, Andercol Kleiberit, and Scott Bader are the leading market players with significant market share. Companies are using new product launches, product diversification, capacity expansion, technology advancement strategies for improving their penetration in the market. For instance, in 2019, Henkel AG & Co. KGaA had opened a new production facility in the high-tech industrial cluster in Songdo, South Korea with an investment of more than 30 million euros.
The companies are entering into the collaborations, mergers, strategic partnerships and acquisitions to increase the demand for assembly adhesives and their expansion across the globe. For instance, in October 2017, H.B. Fuller Company had acquired Royal Adhesives & Sealants LLC for enhancing its position as a global leader in the adhesives industry. This acquisition would help the company to expand its presence in North America, Europe and China, and add new technology and capabilities.

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