The global bonding sheet market consists of various polymeric materials such as polyvinyl chloride (PVC), polyurethane, polyethylene, and others that are used for bonding purposes in various end-use industries. Bonding sheets are employed as an adhesive material to stick or bond surfaces of different materials together permanently. These sheets find wide application in flooring, furniture, and construction industry owing to their sturdiness and long-lasting bonding properties. Rapid urbanization and growing infrastructural activities have boosted the demand for construction materials including bonding sheets.
Key Takeaways
Key players operating in the global bonding sheet market are DuPont, 3M, Saint Gobain, Cytec Solvay Group, Axiom Materials Inc., and Gurit. These players are focusing on new product launches and partnerships to expand their global footprint.
Rapid urbanization across developing nations coupled with growing residential and commercial construction spending is amplifying the demand for bonding sheets in flooring, furniture, and other construction applications. Additionally, rising investments in infrastructure development projects for roads, railways, and buildings are further propelling the market growth.
The Bonding Sheet Market Size are eyeing opportunities in densely populated Asian countries and focusuing on capacity expansion plans. They are also investing in research & development activities to develop innovative bonding sheet products with enhanced properties such as abrasion resistance, moisture resistance and fire resistance.
Market Key Trends
One of the key trends gaining traction in the global bonding sheet market is the rising popularity of water-based bonding sheet technology. Water-based bonding sheets produce fewer emissions and offer properties like flexibility and better adhesion strength. These eco-friendly sheets are free from volatile organic compounds (VOCs) which makes them suitable for applications where low VOC emissions are mandated.
Moreover, market players are increasingly investing in developing bio-based bonding sheet products using renewable resources like plant-based starches and polymers. These sustainable bonding sheets have low carbon footprint and help end-use industries meet their sustainability goals. Ongoing research in bio-based materials is expected to further expand the product offerings.
Porter’s Analysis
- Threat of new entrants: Bonding sheet market has moderate threat as the capital requirements are moderate investments but brands loyalty exist.
- Bargaining power of buyers: Buyers have moderate power as bonding sheets have substitutes but switching costs for buyers are low.
- Bargaining power of suppliers: Suppliers have moderate bargaining power as raw material suppliers are fragmented but switching costs for bonding sheet producers are low.
- Threat of new substitutes: Threat of substitutes is low as bonding sheets have established applications in industries like electronics and automotive.
- Competitive rivalry: Rivalry is high as bonding sheet market has numerous global and regional players competing on pricing and product innovations.
The Bonding Sheet Market Regional in terms of value is highly concentrated in Asia Pacific region due to strong electronics industry presence in countries like China, South Korea, Taiwan and Japan. These countries account for over 60% of the total bonding sheet demand. North America and Europe are other major regions for bonding sheets.
The fastest growing region for global bonding sheet market is expected to be South America during the forecast period of 2024 to 2031. This can be attributed to increasing electronics manufacturing and automobile production in countries like Brazil. Furthermore, foreign investments in electronics industry will further propel the demand for bonding sheets from South American countries going forward.
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