Growth Opportunities for Thermoset Resin Market in Global Adhesive Industry 2015-2020: Trends, Forecast, and Opportunity Analysis
According to a new market report published by Lucintel, the future of thermoset resins in the globaladhesive industry looks good with opportunities in the automotive and construction applications. Thethermoset resin in global adhesive industry is forecast to grow at a CAGR of 6.4% from 2015 to 2020.The major growth drivers for thermoset resin in the global adhesive industry are replacement oftraditional fasteners with adhesives and growth in key end-use applications.
In this market, polyurethane and epoxy resins are the major thermoset resins in the adhesive industry.Lucintel predicts that the demand for epoxy resin in adhesive industry is likely to experience the highestgrowth in the forecast period supported by growing demand in end-use applications. On the basis ofcomprehensive research, Lucintel forecasts that automotive industry is expected to show aboveaverage growth during the forecast period.
Within the thermoset resin in the global adhesive industry, the automotive industry is expected toremain as the largest market. Growth in the light and commercial vehicle production and replacement offasteners with adhesives is expected to spur growth for this segment over the forecast period.Asia Pacific is expected to remain the largest market due to growth in end use applications andincreasing use of adhesives in place of traditional fasteners.
Europe, Asia Pacific, and Rest of the World are expected to witness above average growth over theforecast period because of growth of the automotive and construction industry.
For market expansion, the report suggests new product development with fast ambient cure, lowmodulus,and high-elongation, where the unique characteristics of thermoset resin can be capitalized.Emerging trends, which have a direct impact on the dynamics of the industry, include the emergence ofadhesive with bio-based thermoset resin and increasing application of two part polyurethane adhesive.Dow Chemicals, BASF SE, Huntsman, Momentive, and Bayer AG are among the major players ofthermoset resin in the global adhesive industry.
Lucintel, a leading global strategic consulting and market research firm, has analyzed thermoset resinin the global adhesive industry by chemistry, end use application, and region, and has come up with acomprehensive research report, “Growth Opportunities for Thermoset Resin in Global AdhesiveIndustry 2015-2020: Trend, Forecast, and Opportunity Analysis.” The Lucintel report serves as aspringboard for growth strategy, as it provides a comprehensive data and analysis on trends, keydrivers, and directions. The study includes a forecast for the thermoset resin in the global adhesiveindustry through 2020, segmented by chemistry, end use application, and region as follows:
By chemistry [volume (M lbs/Kilo ton) and $ Million shipments from 2009 to 2020]: