The rapid advancement in the manufacturing sector is causing a steep rise in the sales of metal bonding adhesives in India. As per the India Brand Equity Foundation, the country’s manufacturing sector rose to $91.2 billion in valuation from April 2000 to June 2019, mainly because of the increasing foreign direct investments in the country. Additionally, the implementation of several government initiatives such as Make in India is propelling the progress of the sector.
As these adhesives are extensively used in the manufacturing of various healthcare devices and equipment such as surgical equipment, X-ray machines, implantable devices, and biosensors, the ballooning sales of medical devices are massively boosting the demand for these adhesives. This is, in turn, driving the progress of the Indian metal bonding adhesives market. The market valuation is predicted to surge from $198.9 million in 2019 to $343.6 million by 2030.
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Furthermore, the market is predicted to advance at a CAGR of 5.2% between 2020 and 2030. Depending on resin, the Indian metal bonding adhesives market is divided into epoxy, acrylic, cyanoacrylate, anaerobic, rubber, and polyurethane. Out of these, the epoxy category is predicted to exhibit the fastest growth in the market in the future years. This would be because of the growing usage of epoxy adhesives for bonding the metal sheets used in automobiles and trains.
Hence, it can be safely said that the sales of metal bonding adhesives will explode in India in the coming years, primarily because of their mushrooming requirement in the automotive industry and various manufacturing operations.
Read more: https://www.psmarketresearch.com/market-analysis/india-metal-bonding-adhesives-market
