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Global Industry Analysis of Thread Locking Adhesive

 Thread Locking Adhesive: Introduction

 

·         Tension in mechanical system takes place due to temperature changes in the system. These temperature changes occur due to the expansion and contraction of bolts and substrate materials. This leads to an increase in bolt tension and force on the mechanical assembly. Thread locking adhesive completely fills the gaps between interfacing threads at microscopic level. Application of the adhesive helps prevent the lateral movement in mechanical assembly. Thread locking adhesive also protects joints from corrosion against moisture, gasses, and fluids.

·         Based on end-use industry, the global thread locking adhesive market can be segmented into automotive, electrical & electronics, aerospace & defense, industrial, and others. Automotive and electrical & electronics segments cumulatively held major share of the global thread locking adhesive market in 2019. Growth in production of automotive in developing regions is likely to boost the demand for thread locking adhesive in the automotive industry. The Industrial segment is likely to hold small share of the global thread locking adhesive market in the near future.

Increase in Demand for Thread Locking Adhesive in Automotive Sector to Drive Market

 

·         Demand for electric vehicles has been increasing due to the growth in concerns about environment protection across the globe. Several countries plan to reduce their dependence on crude oil. They are focusing on building of infrastructure for production of electric vehicles. For instance, Tesla, a leading player in the U.S. hybrid electric vehicles (HEVs) industry, plans to increase investments in its manufacturing facility in Shanghai, China; and Fremont, California, the U.S.

·         Thread lock adhesive is based on acrylic technology. It prevents leakage and loosening in closely fitted metal surfaces. The loosening can be due to vibrations and shock in steel nuts & bolts and metals. Apart from metallic surface, thread lock adhesive is used in seal pipe flanges, retain worn bearings, and manufacture of machine and equipment.

·         Thread locking adhesive provides excellent curing performance onto a variety of substrates. It can also withstand high temperature changes, oil contaminations, and anti-corrosion onto the metal surface. Apart from these properties, thread locking adhesive offers high temperature performance and oil tolerance onto passive substrates such as stainless steel. The automotive industry uses thread locking adhesives for sealing in motors and pumps. These characteristics of thread locking adhesive are expected to drive their demand in the automotive sector.

 

 

Impact of COVID-19 on Global Thread Locking Adhesive Market

 

·         The COVID-19 pandemic has posed severe challenges for the global automotive sector. It has impacted the value chain in terms of production and supply of raw material as well as end products. For instance, China’s commercial vehicle sales declined by 18% in January 2020 over those in January 2019.

·         Decline in consumer demand has led to a drop in sale of automobiles across the globe. This has affected the production of various automotive parts. Thread locking adhesives are extensively used in sealing of motor and pump parts. Thus, consumption of thread locking adhesives is likely to be affected due to spread of the COVID-19 pandemic.

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Asia Pacific to Hold Major Share of Global Thread Locking Adhesive Market

 

·         Based on region, the global thread locking adhesive market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

·         Asia Pacific is expected to hold significant share of the global thread locking adhesive market in the near future. Growth in urbanization and increase in disposable income of the middle class population have led boosted the sale of automobiles in the region. This is expected to increase the consumption of thread locking adhesive in manufacture of various automotive parts. Rise in demand for consumer electronics is another factor that is projected to drive the demand for thread locking adhesive in the region.

·         Majority of producers of thread locking adhesive are concentrated in Europe and North America. The market in these regions is mature. Hence, key players in these regions primarily supply thread locking adhesives to Asia Pacific, Middle East & Africa, and Latin America.

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Key Players Operating in Market

The global thread locking adhesive market is highly consolidated. a few producers operate in the global market. Existing players aim to increase their sale of thread locking adhesive through distribution agreements with suppliers. Major players operating in the global thread locking adhesive market include:

·         The 3M Company

·         Henkel Corporation

·         H.B.Fuller

·         Three Bond International

·         Delta Adhesives Limited

·         Permabond LLC

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