Soaring Automobile Sales Propelling Metal Bonding Adhesive Demand in India

The Indian metal bonding adhesives market was valued at $198.9 million in 2019, and it is predicted to reach a revenue of $343.6 million by 2030, demonstrating a CAGR of 5.2% from 2020 to 2030. The major factors fueling the expansion of the market are the burgeoning requirement for metal bonding adhesives for various industrial applications, such as ultracentrifuge rotors, cooling water pumps, industrial pumps, base plates, and reaction injection molding machines.

Furthermore, the surge in the country’s manufacturing sector is also positively impacting the Indian metal bonding adhesives market. As per the India Brand Equity Foundation (IBEF), the manufacturing sector in India reached a value of $91.2 billion between April 2000–June 2019, mainly because of the increasing foreign direct investments (FDI) in the country. Moreover, several government initiatives, such as the ‘Make in India’, have fueled the boom of the sector, thereby creating several avenues for the companies operating in this sector and also for the manufacturers of advanced industrial equipment.

As metal bonding adhesives are extensively used in the production of industrial machinery, the rising demand for these systems is propelling the growth rate of the Indian metal bonding adhesives market. Besides, the healthcare industry is also creating immense growth opportunities for the market players. As metal bonding adhesives are heavily used in the production of healthcare devices, such as surgical equipment, implantable devices, biosensors, and X-ray machines, the soaring requirement for medical equipment will push up the need for metal bonding adhesives in the country.

Depending on resin, the market is divided into epoxy, cyanoacrylate, acrylic, anaerobic, rubber, and polyurethane categories. Out of these, the epoxy category is predicted to demonstrate the fastest growth in the market in the coming years. This is credited to the growing use of epoxy adhesives for bonding metal sheets that are used in automobiles and trains. Due to their beneficial traits, such as resistance to chemicals and extreme temperatures, stress, moisture, oil, and various solvents and compatibility with metals, epoxy adhesives are being increasingly used in several applications.

The Indian metal bonding adhesives market is also classified, on the basis of application, into automotive, industrial maintenance, industrial machinery, construction, and consumer appliances. Out of these, the automotive category dominated the market in the past, and it is expected to exhibit huge expansion in the coming years as well. This is credited to the growing requirement for automotive components owing to the surge in the transportation and automotive industries. Moreover, because of various traits, such as high chemical resistance, rapid curing speed, high bonding strength, shock resistance, and non-flammability, these adhesives are being increasingly used for various metal bonding applications in the automotive sector.

Hence, it can be safely said that the sales of metal bonding adhesives will soar in India in the years to come, primarily because of the expansion of the manufacturing, automobile, and healthcare sectors in the country.

Contact: P&S Intelligence Toll-free: +1-888-778-7886 (USA/Canada) International: +1-347-960-6455 Email: enquiry@psmarketresearch.com Web: https://www.psmarketresearch.com