The High Temperature Adhesives Market size is estimated to reach US$4.8 billion by 2027, after growing at a CAGR of 6.2% during the forecast period 2022-2027. High-temperature adhesives are thermosetting polymers that use a chemical reaction to produce an immediate bond between two normally incompatible materials and it includes cyanoacrylate, epoxy, anaerobic, acrylic and thermo-oxidative stability. The replacement of mechanical fasteners with high-temperature adhesives in the automotive and aerospace industries is also contributing to the market's rapid growth. One of the primary driving reasons for the high-temperature adhesive market is the new uses of high-temperature adhesives in the expanding electronics sector. The replacement of mechanical fasteners with high-temperature adhesives in the automotive and aerospace industries is also contributing to the market's rapid growth. The covid-19 pandemic majorly impacted the high-temperature adhesives market due to restricted production, supply chain disruption, logistics restrictions and a fall in demand. However, with robust growth and flourishing applications across major industries such as transportation, building & construction and others, the high temperature adhesives market size is anticipated to grow rapidly during the forecast period.
High Temperature Adhesives Report Coverage
The “High Temperature Adhesives Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the High temperature adhesives Industry.
By Type : Epoxy, Silicone, Acrylic, Polyurethane and Others.
By Technology : Solvent, Reactive, Films and Others.
By End-Use Industry : Transportation (Automotive, Aerospace, Marine and Locomotive), Building & Construction (Residential, Commercial and Infrastructure) and Others.
By Geography : North America (the USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America), Rest of the World (the Middle East and Africa)
- Asia-Pacific dominates the High Temperature Adhesives market size, owing to growing demand from end-use industries such as automobiles, building & construction and others, thereby boosting the demand for high-temperature adhesives in APAC during the forecast period.
- A significant increase in consumer electronics spending is projected to have a significant impact on growth statistics of the high-temperature adhesives market in the electrical and electronics industry.
- The automotive industry is expected to make steady progress in the global High-Temperature Adhesives market. This is due to the automobile industry's inherent requirement for lightweight vehicles to improve fuel efficiency.
- However, low thermal resistance could hamper the market growth of the high-temperature adhesives market
Figure: Asia-Pacific High Temperature Adhesives Market Revenue, 2021-2027 (US$ Billion)
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High Temperature Adhesive Market Segment Analysis – by Type
Epoxy held the largest share in the High Temperature Adhesives Market share in 2021 and is forecasted to grow at a CAGR of 6.7% during the forecast period 2022-2027, owing to extensive characteristics provided by epoxy over other material types such as silicone, acrylic, anaerobic, polyurethane and others. Due to its exceptional qualities, such as excellent adhesion, impact resistance, flexibility and chemical and solvent resistance, epoxy is frequently employed as a high-temperature resin. The epoxy resins also offer a special blend of adhesion, chemical resistance and physical qualities that enable remarkable defense against very corrosive situations. Epoxy resins find widespread use in refineries, automotive, building & construction and others. Thus, owing to tremendous advantages and availability over material types such as acrylic, anaerobic and silicone, the demand for epoxy is growing for application in major industries, thereby boosting the growth opportunities for the high-temperature adhesive industry in the projected years.
High Temperature Adhesive Market Segment Analysis – by End-use Industry
Automotive held the largest share in the High Temperature Adhesives Market share in 2021 and is forecasted to grow at a CAGR of 7.2% during the forecast period 2022-2027, owing to the increasing usage of high-temperature adhesives in automotive components. High-temperature adhesives offer numerous benefits that will serve as growth pillars for the automobile industry. High-temperature adhesives are utilized primarily in the automotive sector for good heat-resistant properties and high shear & tensile strength, which is fueling the market expansion of high-temperature adhesives in the automotive industry. According to the Energy Information Administration (EIA), by 2035, there will be 1.7 million automobiles worldwide. According to the International Organization of Motor Vehicle Manufacturers (OICA), automobile output increased by 10% in the first nine months of 2021, to 57.26 million vehicles, up from 52.15 million units in the same period last year. With the increasing automotive production, the demand for high-temperature adhesives will also likely increase, as a result of which the high-temperature adhesives market share will be flourished over the forecast period.
High Temperature Adhesive Market Segment Analysis – by Geography
The Asia-Pacific held the largest share in the High Temperature Adhesives Market share in 2021 up to 42%. The flourishing growth of high-temperature adhesives is influenced by its major applications across major industries, along with growing development in automotive production and developed the base for high-temperature adhesives in APAC. The automotive sector in Asia-Pacific is rapidly growing due to a flourishing base for automotive manufacturers, demand for automotive compounds and production rise. For instance, according to the Organisation Internationale des Constructeurs d'Automobiles (OICA), automotive production and Vietnam grew by 1.2 percent and 5.5 percent from the previous year to 5,71,632 and 2,50,000 units, respectively, in 2019.
In November 2020, Boeing forecasted that China's airlines would spend US$1.4 trillion on 8,600 new planes and US$1.7 trillion on commercial aircraft services over the next 20 years. According to India Brand Equity Foundation (IBEF), India’s domestic automobile production increased at a 2.36 percent CAGR from FY16 to FY20, with 26.36 million vehicles produced in FY20. Between FY16 and FY20, domestic automobile sales increased at a 1.29 percent compound annual growth rate (CAGR), with 21.55 million vehicles sold in FY20. According to the Japan Automobile Manufacturers Association (JAMA), automobile production in Japan increased in November from 6,67,462 units in October to 6,90,311 units. Thus, the growth of high-temperature adhesives in the region is being aided by the increasing automotive sector in APAC, thereby dominating the market in the Asia-Pacific region.
High Temperature Adhesive Market Drivers
Rising Demand from the Electrical & Electronics Industry :
High Temperature Adhesives are widely used in most electronic devices due to their superior performance. Adhesives and sealants in electrical and electronics applications are subjected to high temperatures due to the constant running of gadgets and other equipment. High-temperature adhesives and sealants are utilized in the electrical and electronics industries for solder replacement, semi-conductor bonding, fast repairs, heat transfer and shielding, which drive the market growth of the high-temperature adhesives market. According to the India Brand Equity Foundation (IBEF), the electronics manufacturing industry in India is projected to reach US$520 billion by the year 2025.
According to the Japan Electronics and Information Technology Industries Association, computer and information terminal manufacturing in Japan was worth 1,041,122 million yen in 2017 and 1,251,283 million yen in 2019. According to Electro and Digital Industry Association, the German electronics industry's turnover will nearly exceed EUR 200 billion in 2021, with production up by nine percent for the period January to November 2021. With the increasing growth in electronics production and semiconductor, the demand for high-temperature adhesives for applications in computer chips, semiconductor devices and others are growing. The growing electrical and electronics sector is driving the market and offering major growth opportunities in the high-temperature adhesives industry.
Bolstering Growth of the Building & Construction Industry :
High Temperature Adhesives are wildly used in the building & construction industry. This increases the demand for high-temperature adhesives in the construction industry as they are resistant to high temperatures and exhibit great tensile and bonding strength. Due to their easy weldability and machinability, high-temperature adhesives are employed in the design of bridges, pillars and the construction of massive architectural structures, which drives the market growth of high-temperature adhesives in the building & construction industry. According to the International Trade Administration, the construction sector in China is projected to grow at an average of 8.6% from the year 2022 to 2030. According to Oxford Economics, the global construction output in 2020 was US$10.7 trillion 2020 and is expected to grow by 42% or US$4.5 trillion between 2020 and 2030 to reach US$15.2 trillion. With the rise in building and construction projects across the globe, the demand for high-temperature adhesives is anticipated to rise for various applications, which is projected to boost the market growth in the building and construction industry during the forecast period.
High Temperature Adhesive Market Challenge
Low Thermal Resistance :
High-Temperature Adhesives is a thermoplastic that is more "fragile" at low temperatures and "smoother" at high temperatures. Thermal loading of the substrate, limiting the use of substrates that are not vulnerable to higher temperatures, and a lack of binding strength at higher temperatures before the adhesive is fully melted are all disadvantages. Any high-temperature adhesive may be susceptible to weather and chemical damage. One important aspect restricting market expansion is many adhesives’ susceptibility to higher temperatures, which can cause bond strength to deteriorate at higher temperatures.
For instance, high-temperature adhesives can be used at temperatures ranging from 175 to 230 °C, but they can be brittle due to the high level of cross-linking required to achieve the high-temperature characteristics. High-temperature adhesives fall somewhere between high-temperature epoxy adhesives and polyimide adhesives. In general, a 2 h cure at 175 °C under 0.28 MPa pressure followed by a 2-4 h post cure at between 200 and 225 °C yields good results. High-temperature adhesives retain their strength up to about 300 °C, but prolonged use above 210 °C and below 175 °C is not recommended. As a result, all these key factors limit the market growth of the high-temperature adhesives industry.
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High Temperature Adhesive Industry Outlook
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the High Temperature Adhesive market. The top 10 companies in the High temperature adhesive market are:
- Avery Dennison Corporation
- Bostik, an Arkema company
- EpoxySet Inc.
- Flexible Ceramics Inc.
- H.B.Fuller Company
- Permabond LLC
- PPG Industries Inc.
- In July 2021, DELO Industrial Adhesives introduced the DELO MONOPDX HT2999 adhesive, which has been developed particularly for the automobile sector and mechanical engineering.
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