As per the report published by Fior Markets, The Global Composite Adhesives Market is expected to grow from USD 1.67 Billion to 2.67 Billion in 2025 at a CAGR of 7.42% during the forecast period from 2018-2025. North America region holds the largest market share while Asia Pacific is forecasted to report highest CAGR growth on account of unabated demand from automobile and aircraft segment.
“Global Composite Adhesives Market by Resin (Polyurethane, epoxy, others), Component (One component, Two component), Application (Automotive, Marine, Wind Energy, Aerospace, Others), Region” and Global Forecast 2018-2025.
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Key players in composite adhesives market are Henkel AG & Co. KGaA, SIKA AG, 3M Company, The Dow Chemical Company, Huntsman Corporation, LORD Corporation, and Illinois Tool Works Incorporation-Plexus, ITW Engineered Polymers GmbH, Master Bond Inc, Arkema SA, Permabond.com, and H.B. Fuller Company Pidilite Industries. Emphasis on reducing production cycle time across the automobile and aircraft industries is fueling the demand for the Composite Adhesives Market. Building on its theme ‘Chemistry for Lightweighting’, Huntsman Advanced Materials Showcased its Pioneering Lightweight Solutions for Automotive and Aerospace Industries at JEC World 2018
The resin segment is subcategorized into Epoxy, Polyurethanes and other composites. On account of ability to bond even in high moisture conditions, superior bonding quality with a non-porous substance like wood, as well as high UV resistance Polyurethane Adhesives segment is witnessing increased demand for marine applications. The Epoxy based composite adhesives segment is projected to grow at a CAGR of 8.92% on account of unabated demand form automotive and aircraft manufacturing sector. Component Segment divided into one part composite and two part composite adhesives. Due to its simple application process one part component composite adhesives market size should witness growth at over 8.14% CAGR during projected period. Application of composite adhesives is segmented into Automotive, Aerospace, Marine and Wind industry. Automotive segment is bound to attain market share of USD 969.50 million during forecast period owing to ever rising demand for fuel efficient lightweight cars.
As world moves towards more and more efficient production cycle construction adhesives come in handy with reducing the time for attaching the components together. As the demand for vehicles and aircrafts continues unabated global market for composite adhesives is attain new highs every passing year during the forecasted period. Strict enforcement of environmental regulations on manufacturing process as well as scarcity of raw materials required are dragging the growth back.
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