Global Display Bonding Adhesive Market Highlights Over 2022 - 2031
The global display bonding adhesive market is estimated to garner a sizeable revenue by growing at a significant CAGR over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing adoption of adhesives in automotive applications, and rapidly growing pharmaceuticals and mining industries across the globe. Along with these, properties of display bonding adhesives, such as high bond strength, low temperature resistance and low thermal expansion, is also expected to drive market growth in the forthcoming years. Furthermore, escalating growth of urbanization and industrialization around the world, and emphasis of market players on expanding their product portfolios are projected to offer ample growth opportunities to the market in the near future. According to the United Nations organization, as of May 2018, 55% of the world’s total population lived in urban areas, which is evaluated to increase to 68% by the end of 2050.
The market is segmented by application into LCD displays, touch screens, aerospace displays, medical displays, and industrial displays, out of which, the LCD displays segment is anticipated to hold the largest share in the global display bonding adhesive market. This can be accounted to the high utilization of these adhesives in LCD displays for stopping dust and condensed water from going behind the cover glass, and increasing the shock resistance of displays. Apart from these, high demand for consumer electronics across the globe is also predicted to boost the growth of the market segment in the future. Additionally, on the basis of type, the optically clear adhesive segment is assessed to acquire the largest share during the forecast period owing to the excellent efficiency of these adhesives to eliminate the gap between the cover glass and LCD. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Display Bonding Adhesive Market Regional Synopsis
Regionally, the global display bonding adhesive market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to grab the largest share and witness noteworthy growth over the forecast period on the back of the high production of electronic products, especially in China and Japan. For instance, China is the world’s largest manufacturers of computers, televisions and smartphones, producing more than 65%, 88% and 87% of these devices in the world in the year 2018. In addition, high industrial output, and strong footprint of market players are also expected to accelerate the market growth in the region in the coming years. Moreover, the market in North America is also projected to occupy a notable share by the end of 2030, ascribing to the escalating demand for the product from the furniture industry, and growing investments made by companies in the automotive sector in the region.
The global display bonding adhesive market is further classified on the basis of region as follows:
Our in-depth analysis of the global display bonding adhesive market includes the following segments:
Top Featured Companies Dominating the Market
FREQUENTLY ASKED QUESTIONS
The major factors driving market growth are increasing adoption of adhesives in automotive applications, and rapidly growing pharmaceuticals and mining industries globally.
The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2022-2031.
The major players in the market are 3M Company, H.B. Fuller Company, Ashland Inc., Dymax Corporation, Henkel AG & Co. KGaA, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, application, and by region.
The optically clear adhesive segment is anticipated to hold largest market size and is estimated grow at a notable CAGR over the forecast period and display significant growth opportunities.
High price of raw materials is estimated to hamper the market growth.
Asia Pacific will provide more business opportunities for market growth owing to the high production of electronic products, especially in China and Japan.
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