Display Bonding Adhesive Market Segmentation by Type (Optically Clear Adhesive, and Liquid Optical Clear Adhesive); and by Application (LCD Displays, Touch Screens, Aerospace Displays, Medical Displays, and Industrial Displays) - Global Demand Analysis & Opportunity Outlook 2031
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In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
August 2021- Ashland signed definitive agreement for selling performance adhesives business to Arkema in an all-cash transaction for an amount worth USD 1.65 billion.
July 2021- H.B. Fuller and Covestro announced a strategic partnership for delivering an adhesive with a reduce climate impact for composites, textiles and automotive industries.
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
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
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:
Ans: The major factors driving market growth are increasing adoption of adhesives in automotive applications, and rapidly growing pharmaceuticals and mining industries globally.
Ans: The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2022-2031.
Ans: The major players in the market are 3M Company, H.B. Fuller Company, Ashland Inc., Dymax Corporation, Henkel AG & Co. KGaA, and others.
Ans: 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.
Ans: The market is segmented by type, application, and by region.
Ans: 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.
Ans: High price of raw materials is estimated to hamper the market growth.
Ans: 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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