About Composite Adhesives
Composite adhesives are used for bonding or joining composite materials such as wood, metal, and plastics. Bonding of the composite is one of the key steps in the manufacturing of composite structures. The composite adhesives are used in various applications, such as aerospace, automotive and transportation, wind energy, marine, electronic, and construction, as these are lightweight and exhibit high strength. The use of composite adhesives has grown in recent times.
Technavio’s analysts forecast the global composite adhesives market to grow at a CAGR of 7.40% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global composite adhesives market for 2017-2021. To calculate the market size, the report considers sales of various types of composite adhesives.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Composite Adhesives Market 2017-2021
Technavio recognizes the following companies as the key players in the global composite adhesives market: Huntsman international, 3M, Ashland, The Dow Chemical Company, and Sika.
Other Prominent Vendors in the market are: Arkema, DELO, Dymax, Engineered Bonding Solutions, Gurit, H.B.Fuller, Hexcel, Hybond, LORD, Master Bond, Parson Adhesives, Permabond, SCIGRIP, and Scott Bader Company.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing demand for composite adhesives in wind energy sector. The wind turbine composite material market is expected to grow because of an increase in the number of wind energy projects in China and Europe. The market is exhibiting growth owing to the low costs associated with wind energy. In 2016, thermostats accounted for around 75% of the epoxy resins in the global wind turbine composites market, whereas glass fiber contributed to approximately 60% of the type of fibers used in wind turbines.”
According to the report, one driver in the market is increasing demand for new aircraft. The rising demand for new aircraft is a key driver for the global composite adhesives. Increasing use of composite products in manufacturing aircraft drives the demand for composite adhesives. Composite adhesives are used to attach joints to cured parts, such as stringer, and uncured parts such as wings skin. The composite adhesives exhibit properties such as stiffness, strength, toughness, and high-temperature performance. The entry of new players in the aircraft industry has led to an increase in the production of new aircraft.
Further, the report states that one challenge in the market is volatile prices of raw materials. Fluctuations in the prices of raw materials used for manufacturing composite adhesives pose a serious challenge to the global composite adhesives market. The prices of raw materials, such as epoxy, polyurethane, and silicone, have experienced fluctuations in the past few years. Polyols that are used in the production of polyurethane are expensive as these are derived from crude oil that experiences frequent price fluctuations. Volatility in the prices leads to a shortage of raw materials. This leads to a significant increase in the price of resins, which drives the manufacturing cost and decreases the profit margins of the manufacturers.
Huntsman international, 3M, Ashland, The Dow Chemical Company, Sika, Arkema, DELO, Dymax, Engineered Bonding Solutions, Gurit, H.B.Fuller, Hexcel, Hybond, LORD, Master Bond, Parson Adhesives, Permabond, SCIGRIP, and Scott Bader Company.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook