Global High Performance Adhesives Market - 2019-2026
High performance adhesives products are used in a variety of markets including aerospace and defense, automotive, recreational vehicle, bus, truck and trailer, rail, marine, insulated glass, solar, wind, assembly, electrical, electronics, filter, printing, packaging, laminating, roofing and flooring. It has become a key technology element of various applications especially in transportation due to the constantly replacing traditional bonding or adhesion methods.
These are ideal for applications that require high speed manufacturing, bonding versatility, large gap filling, fast green strength and minimal shrinkage. High-performance adhesives market has been segmented into epoxy, silicone, polyurethane, and acrylic. Based on the end user, the market is classified into construction, transportation, packaging, electronics & electrical, medical and others. By technology, the high performance adhesives market is segmented into water based, solvent based and hot melt.
The global high performance adhesives market size was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.
Rising demand for miniaturization and automation in electronics industry and increase in demand for high performance adhesives are the major driving factors for the market growth. High performance adhesives are broadly used in electronics industry, construction sector and in automobiles manufacturing. 53,550,000 vehicles were produced approximately in 2017 from Asia Pacific region which is more than 50% automotive production in the world. Electronics production is increasing rapidly in Asia-Pacific region, particularly in China and emerging economies, like, India and ASEAN countries. Henceforth, the demand for high-performance adhesives is briskly rising due to the quick growth in manufacturing sector across globally especially in Asia Pacific.
However, Instability in raw material prices and stringent environmental regulations are the key factors hindering the growth of the market.
Based on the end user, the market is classified into construction, transportation, packaging, electronics & electrical, medical and others. Others is again divided into leather & footwear and signage & graphics. The global high performance adhesives market size by end user was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. The transportation segment is expected to garb the major market share in the forecast period. The Transportation segment is quite extensive and includes thousands of applications in such areas as aircraft & aerospace, automotive module sealing using liquid gasket sealants, exterior vehicle trim, interior vehicle trim, marine, powertrain and under-the-hood components, rail and vehicle assembly.
The automotive industry uses advanced high performance adhesives. These guarantee perfect hold overall, even under extreme conditions including wind, rain or hailstorm, blistering heat in the summer or bitter frost in the winter. Companies are launching high performance adhesives products related to transportation segment. Sika Corp has introduced an adhesive named Sikaflex®-953 for transportation and industrial assembly applications. The two-component, highly flexible, silane terminated polymer (STP) adhesive is reportedly designed for bonding applications.
By technology, the high performance adhesives market is segmented into water based, solvent based and hot melt.
By technology, the high performance adhesives market is segmented into polyurethane, silicone, epoxy, acrylic and others.
The Asia Pacific high performance adhesives market size was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. Rising automobile production combined with an improved reception of advanced materials is the major driving factor for the market growth. For instance, The Indian auto industry became the 4th largest in the world with sales increasing 9.5 % year-on-year to 4.02 million units (excluding two wheelers) in 2017. It was the 7th largest manufacturer of commercial vehicles in 2018.
Foundational of commercial aircraft assembly plants in Asia Pacific is the other key driving factor for the growth of high performance adhesives market. For instance, in 2017 US aircraft giant Boeing has set up its first overseas factory in eastern China aiming delivering 100 Boeing 737 planes a year. Boeing and Chinese aviation manufacturer Commercial Aircraft Corporation of China Ltd (COMAC) has started in building a Boeing 737 completion center in Zhoushan.
The high performance adhesives market is a competitive with existing players in the market.
Some of the major players include 3M, Sika Corp, Royal Adhesives & Sealants, LLC, Delo Industrial Adhesives, LLC, Parson Adhesives, Inc., Loxeal Engineering Adhesives, Huntsman International LLC., Lord Corporation, Mapei Corporation, Master Bond Inc., Dymax Corporation and Hernon Manufacturing Inc.
The key players are adopting various key strategies such as product launches, collaborations, mergers & acquisitions which are contributing to the growth of the High Performance Adhesives Market.
In June 2019, Henkel has expanded its portfolio with the launch of an adhesive solution called Loctite Liofol LA 2798 for high-performance packaging applications.
In June 2017, Mactac Technical Tapes Products has launched its latest high strength transfer adhesive tapes, known as XT High Performance Rubber Transfer Adhesives.
In 2017, US aircraft giant Boeing has set up its first overseas factory in eastern China aiming delivering 100 Boeing 737 planes a year.
Sika Corp has introduced an adhesive named Sikaflex®-953 for transportation and industrial assembly applications. The two-component, highly flexible, silane terminated polymer (STP) adhesive is reportedly designed for bonding applications.
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The High Performance Adhesives report would provide an access to an approx, 61 data tables, 57 figures and 198 pages.
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