The global glass bonding adhesives market to grow at a CAGR of 7.17% during the period 2017-2021.
The report, Global Glass Bonding Adhesives Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is increasing use of glass bonding adhesives in uv-curing technology. UV-curing adhesives are used as glass adhesives because of their high transparency and good stability. These are used for glass to metal, and glass to glass bonding. UV-curing technology is used in the manufacture of glassware, glass furniture, and acrylic glass. In the medical industry, glass bonding adhesives are often used in the optical sector, and in the bonding of medical devices even in high humidity and sunlight. UV light adhesives solidify when exposed to an appropriate wavelength and intensity of light.
According to the report, one of the major drivers for this market is increase in disposable income among middle-class population segment. Globally, three billion people are expected to enter the middle-class segment in the next 20 years (starting from 2015). A rise in the disposable income among the middle-class has a positive impact on the growth of the market. Disposable income increased by 23% in APAC and 21% in Latin America between 2009 and 2014. The key markets in these regions include Japan, China, India, and Brazil. Per capita annual disposable income increased by 23.16% in Japan, 7.01% in China, and 8.61% in India in 2015 compared with 2014. The increasing income levels attract the marketers to invest in APAC.