The global curing adhesives market was valued at USD 6899.15 million in 2022. It is expected to reach USD 13631.3 million by 2031, growing at a CAGR of 7.86% during the forecast period (2023–2031). The chemical process of curing causes the adhesive to crystallize completely. The adhesive acquires its final characteristics, aiding in developing its ultimate strength. They offer flexible to rigid bond lines with high strength that can withstand various chemicals and temperature changes.
Due to the properties and process advantages of curing adhesives, which are a good fit for the manufacturing requirements that are demanded by the current electronic industry drivers, including environmental and health & safety demands, miniaturization, minimizing total product cost, and improving manufacturing yield, these adhesives are used in the electronics manufacturing industry with increasing frequency. In the wire and part tacking, strain relief, tamper-proofing, coil terminating, temporary masking, structural bonding, encapsulation, potting, conformal coating, surface mount component attachment, and glob topping sectors of the electronics manufacturing industry, curing adhesives have been found useful.
Curing adhesives speeds up production without harming delicate electronic components and makes it possible for in-line testing, assembly, minimal handling, and longer product lifespans. Due to recent advancements in the electronics industry, many conventional soldering systems have been replaced by curing adhesives, including hybrid cars, mobile electronics, medical applications, digital cameras, computers, defense telecommunications, and augmented reality headsets. The market has received a significant boost from the expansion of the electronics, electrical, and technological industries on a global scale.
Curing adhesives typically provide rigid bond lines with high strength, flexibility, and resistance to temperature, humidity, and other properties. The pedal systems, electronic fuel injection systems, alternator assemblies, restraint systems, water pumps, speakers, and LED headlamp controllers are just a few of the components that benefit from adhesive curing to increase vehicle performance. Since curing adhesives offer lightweight, corrosion protection, and crash safety, the demand for lightweight vehicles and low carbon footprints is also anticipated to change. The strict regulations of regulatory bodies, such as the US Environmental Protection Agency,
European Law, and Bharat Stage Emission Standards, to protect the environment and reduce CO2 emissions also support the demand for lightweight materials. Around the world, the automotive industry has grown significantly in recent years. The number of cars produced globally in 2019 surpassed 92 million units. The increased production in developing nations like China, India, and Mexico is primarily to blame. Innovative and secure components for use in automobiles have been developed due to developments in the automotive and heavy-duty industries to meet consumer demands now and in the future.
Adhesives that cure require a chemical reaction to change them from a liquid (or thermoplastic) state to a solid state because they are reactive materials. They are appropriate for joints that operate at a maximum temperature of 50°C while in use. Various regulations regarding the manufacture of adhesives and VOCs by manufacturers have been in place for the past ten years. For instance, the Massachusetts Department of Environmental Protection claims that under 310 CMR 7.18(30), VOC emissions from adhesives, sealants, adhesive primers, sealant primers, and related surface preparation and cleanup solvents are regulated.
Additionally, as part of actions taken under the Clean Air Act, the Environmental Protection Agency (EPA) has established regulations under 40 CFR Part 52 for the control of volatile organic compound (VOC) emissions from chemical production, polytetrafluoroethylene (PTFE) operations, paint, resin, and adhesive manufacturing, as well as from adhesive and sealant application (CAA). Some of the regulations for adhesives manufacturers in the European nations have been outlined by REACH and developed in accordance with FEICA's use maps. The European adhesive and sealant industry is represented by the international organization FEICA. The future expansion of the market for curing adhesives is therefore anticipated to be constrained or hampered by all these regulations and emission control systems implemented by various governing bodies.
Soon, it is anticipated that advances in industrial manufacturing systems and cutting-edge technology will generate profitable opportunities. Due to its innovative semiconductor manufacturing, North America has a technical advantage in consumer electronics consumption. Additionally, North America has the most chemical and electronics material manufacturing firms, which aids the continent in implementing cutting-edge innovations and technologies. AZ Electronic Materials plc, Dow, and Honeywell are a few of the region's leading innovators.
Additionally, the electronics market in Asia Pacific is anticipated to grow the fastest over the next few years. The electronics, chemical, and materials markets have seen increased growth due to the region's expanding economy. China and India are the fastest-growing nations in the area, with Taiwan and South Korea on track to follow suit. Japan is the top exporting nation and a developed market for the electronics industry. Therefore, the market for curing adhesives is anticipated to experience significant growth during the forecast period due to the development of the electronics sector and innovations in lightweight and miniature electronic components.
The global curing adhesives market is segmented by resin, product type, and application.
Based on the resin, the global curing adhesives market is bifurcated into epoxy, polyurethane, acrylate, and silicone.
The acrylate segment is the highest contributor to the market and is expected to grow at a CAGR of 8.23% during the forecast period. Acrylic or methyl acrylic polymers make up acrylate adhesives. Due to their ability to withstand a variety of environmental factors like ultraviolet (UV) radiation, ozone, and moisture, these adhesives are highly favored in outdoor application settings. These adhesives are typically used to create pressure-sensitive adhesive tapes in the electrical & electronics, solar energy, automotive, and furniture manufacturing industries.
Polyurethane adhesives are renowned for their adaptability, simplicity of use, broad operating temperature range, and capacity to cure in various environments. Typically, these are employed to join materials with various degrees of flexibility or thermal expansion, such as glass, aluminum, and fiber-reinforced plastic (FRP) to metal. Three forms of these adhesives are available: single-component moisture cure systems, single-component heat/thermal cure systems, and two-component systems.
Based on the product type, the global curing adhesives market is bifurcated into UV cure, moisture cure, and heat/ thermal cure.
The moisture care segment is the highest contributor to the market and is expected to grow at a CAGR of 8.09% during the forecast period. Adhesives that react with moisture in the air or on the substrate beneath them will eventually cure. They are typically used for surfaces like metals, wood, and a wide variety of plastics without polyethylene or polypropylene that are challenging to bond. One of the most important markets for moisture-cure adhesives is the construction sector. The installation of roofing or insulation panels on the exterior surfaces of building structures is where they are most frequently used.
Single-component resins, known as UV cure adhesives, are a particular type that cures at room temperature when exposed to ultraviolet (UV) radiation or other UV radiation sources. These adhesives come in various resin systems, including silicones, acrylates, epoxies, and polyurethanes. In difficult environments, UV-cure adhesives can create a strong, transparent bond. They are excellent for bonding a variety of similar or dissimilar substrates, including metals, glass, ceramics, ceramics, plastics, and rubbers. These adhesives are frequently used in the manufacturing of consumer goods due to their quick curing time and capacity to create an exact, clean bond with the substrate.
Based on the application, the global curing adhesives market is bifurcated into electronics & electricals.
The electronics & electrical segment is the highest contributor to the market and is expected to grow at a CAGR of 7.10% during the forecast period. In the electrical and electronic industry, curing adhesives are crucial. They were crucial in the overall weight loss and miniaturization of different electronics. In manufacturing various electronic products, including mobile phones, computers, and consumer durables, curing adhesives have successfully replaced conventional soldiering systems and fasteners. Fast-curing adhesive systems have also contributed to lower production costs and increased output. Surface mount devices (SMDs), exterior plastic housings, conformal coatings, encapsulation, potting, and wire tacking are a few common uses for curing adhesive.
By region, the global curing adhesives market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Asia-Pacific is the most significant revenue contributor and is expected to grow at a CAGR of 8.33% during the forecast period. The main driver of regional market expansion has been the fast expansion of the electronics and electrical manufacturing sector. Additionally, the rapidly expanding building and construction industry's use of curing adhesives is anticipated to significantly increase demand for curing adhesives in the Asia-Pacific region.
Europe is expected to grow at a CAGR of 7.67%, generating USD 4250.25 million during the forecast period. Europe is home to some of the biggest automakers in the world, such as Volkswagen, Mercedes Benz, BMW, and FIAT. For numerous automotive assembly applications, they significantly increase the demand for curing adhesives. A strong aerospace and defense sector is also anticipated to significantly increase demand for curing adhesive during the forecast period.
With a value share of 26.62% of the global market in 2020, the North American region emerged as the third-largest market for curing adhesives. The main driver of regional demand is the presence of highly developed plastics and automotive manufacturing industries. Additionally, it is anticipated that the anticipated expansion of the semiconductor chip manufacturing sector in the U.S. will fuel market expansion in the region of North America.
The region's product demand is anticipated to be driven for the foreseeable future by Mexico, Brazil, and Argentina's growing demand for various curing adhesives in automobiles, consumer durables, and electronics goods.
Demand for regional curing adhesives is anticipated to be driven by the expansion of the manufacturing sector in North Africa and the GCC nations.
The global curing adhesives market’s major key players are
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