Anaerobic Adhesives Market to Reach US$570 million in 2022 amid high usage in cable closures
The latest study by Fact.MR reveals details about the hidden opportunities in the anaerobic adhesives market. It provides insights into vital trends fostering demand prospects in various segments in terms of product type, substrate, end-use, and region. Additionally, the report predicts the growth prospects of the Anaerobic Adhesives market over the forecast period.
NEW YORK, June 20, 2022 /PRNewswire/ — The global anaerobic adhesives market size is expected to reach 1 billion US dollars in 2032, expanding at a CAGR of 5.8% between 2022 and 2032. Growing focus of key companies on improving their manufacturing techniques is expected to drive the market.
Another crucial factor that would contribute to the growth is the increase in the production of commercial aircraft carriers due to the growing number of air passengers around the world. According to Fact.MR, the global anaerobic adhesives market stood at US$546.8 in 2021 and is estimated at US$570 million in 2022.
Additionally, the increasing application of anaerobic adhesives in dashboard accessories, instrumentation amplifier housings, idler rings, pipe fasteners, and plastic knobs in the automotive and transport should stimulate growth.
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Additionally, the demand for anaerobic adhesives in the electrical and electronics industry is expected to increase at a rapid rate. These adhesives are widely used in industry for sealing, low pressure molding, potting and bonding.
Besides the uses mentioned above, anaerobic adhesives are needed to encapsulate vital components, such as cable closures, splice assemblies, and connectors in the electrical and electronics industry.
Additionally, strong demand for many home appliances and consumer electronics is expected to support growth. According to the India Brand Equity Foundation (IBEF), the electronics manufacturing industry in India should reach US$520 billion by 2025 and the demand for electronic products is expected to increase to reach 400 billion US dollars by 2025.
The increase in disposable income and changing lifestyles of people in developing countries, such as India should therefore propel the sales of electronic products in the future. The emergence of waterproof tapes with superior properties should stimulate growth.
Key points to remember:
- The US anaerobic adhesives market is expected to create an absolute dollar opportunity and grow at a CAGR of 6.7% by 2032.
- China is expected to grow steadily at a CAGR of 6.5% during the forecast period.
- India The anaerobic adhesives market is expected to grow at a CAGR of 4.6% by 2032.
- Based on product type, the thread locker segment is expected to remain at the forefront by generating a market share of 37.5% till 2032.
- By substrate, the metal substrates category is likely to generate a considerable share of 47.8% over the assessment period.
- In terms of end-use, nearly 36.5% of the anaerobic adhesives market share is expected to be generated by the automotive and transportation category.
- Increased investment by key players in research and development activities to create sustainable adhesives is expected to drive the growth.
- The increasing use of anaerobic adhesives in the production of several home appliances, including clothes dryers and washing machines, is expected to fuel the growth.
- Anaerobic adhesives often exhibit poor performance when mixed with certain thermoplastics, which can hamper demand.
- Anaerobic adhesives are not suitable for use on porous surfaces and offer limited gap cure, which can hinder sales.
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The global anaerobic adhesives market is highly fragmented in nature with the presence of various large and small scale companies. The majority of key players are focused on improving their capabilities in terms of strategic mergers or acquisitions. Some of the others are working to eliminate the tough competition between rivals by introducing cutting-edge adhesives for a wide range of end-use industries.
- In February 2022Bostik, a leading manufacturer of adhesives and sealants based in France, has expanded its Born2Bond anaerobic adhesive portfolio from the engineering adhesives range by introducing a more durable and safer WL range. It would provide unique anaerobic engineering adhesives to the maintenance, repair and overhaul (MRO) industry.
- In July 2020Arkema SA, a specialty chemicals and advanced materials company headquartered in Francebought Fixatti, a Belgium– Manufacturer of high performance thermobond adhesive powder. The acquisition would help the former expand its line of hot melt adhesive solutions for various niche applications, such as the textile printing, construction, automotive, battery and engineered coatings markets.
Top Companies Featured by Fact.MR
- Henkel AG & Co. KGaA
- Eastman Chemical Company
- Permabond LLC.
- ThreeBond Holdings Co. Ltd.
- Anabond Limited
- Kisling S.A.
- Parson Adhesives
- Hylomar Ltd.
More Valuable Insights into Anaerobic Adhesives Market
In the latest study, FACT.MR offers a detailed study on the world market for anaerobic adhesives for the forecast period from 2022 to 2032. This study also highlights the main engines promoting sales of anaerobic adhesives thanks to detailed segmentation as following :
By product type:
- Thread stoppers
- Thread sealants
- Retention compounds
- Other substrates
By end use:
- Automotive and transportation
- Electrical and Electronic
- Other end uses
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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Key Questions Covered in the Anaerobic Adhesives Market Report
- What is the projected value of the Anaerobic Adhesives market in 2022?
- At what rate will Global Anaerobic Adhesives Market grow till 2032?
- What are the factors hindering the growth of the Anaerobic Adhesives market?
- Which region is expected to lead in the global Anaerobic Adhesives Market during 2022-2032?
- What are the factors driving the Anaerobic Adhesives market during the forecast period?
- What is the expected market value of the Anaerobic Adhesives market during the forecast period?
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