Composite Adhesives Market by Resin (Epoxy, Polyurethane), Component (One-Component, Two-Component), Application (Automotive & Transportation, Marine, Aerospace, Wind Energy), and Region - Global Forecast to 2022
“The global market for composite adhesives is projected to grow at a CAGR of 7.9% from 2017 to 2022.”
The global composite adhesives market is projected to reach USD 1.78 billion by 2022, at a CAGR of 7.9% from 2017 to 2022. The demand for lighter vehicles has lad manufacturers switch from traditional mechanical fasteners to lightweight and more efficient adhesives, which is driving the global composite adhesives market. Stringent environmental regulations in the European countries are restraining the growth of the composite adhesives market.
“Aerospace application is the fastest-growing segment of the composite adhesives market.”
The aerospace segment is estimated to be the fastest-growing application segment of the composite adhesives market. The high demand for advanced aircraft from the commercial aviation segment due to entry of new airlines and expansion of existing airlines is driving the demand for composite adhesives from the aerospace segment. Increasing air traffic, demand for fuel-efficient aircraft, replacement of obsolete aircraft, and strong economic growth in the emerging markets are expected to drive the demand for aerospace composite adhesives during the forecast period.
“Rising demand from Asia-Pacific is a major driver for the composite adhesives market.“
The Asia-Pacific region is expected to be the fastest growing composite adhesives market, in terms of volume during the forecast period from 2017 to 2022. It is estimated to retain the market leadership during the forecast period. China is the largest market, followed by Japan, South Korea, and India for composite adhesives in this region. The Asia-Pacific composite adhesives market is driven by large foreign investments, manufacturers keen to take advantage of cheap labor, and availability of raw materials directly boost the region’s production. According to the Chinese Wind Energy Association, around 18.23 GW of wind turbines are yet to be connected with the grid. This, in turn, is contributing to the growth of composite adhesives market in the Asia-Pacific region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
The break-up of primary interviews is given below:
• By Company Type: Tier 1 - 41%, Tier 2 – 33%, and Others - 26%
• By Designation: C Level – 35%, Director Level - 36%, and Others - 29%
• By Region: North America - 29%, Europe - 27%, Asia-Pacific - 26%, Middle East & Africa – 8%, and South America - 10%
Key companies profiled in this report are Henkel AG & Co. KGaA (Germany), SIKA AG (Switzerland), 3M Company (U.S.), The Dow Chemical Company (U.S.), Huntsman Corporation (U.S.), LORD Corporation (U.S.), Illinois Tool Works Incorporation-Plexus (U.S.), Ashland Inc. (U.S.), H.B. Fuller (U.S), and Bostik (France).
The report provides an analysis of the global composite adhesives market and its applications across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments, namely, resin, component, application, and region. Furthermore, the report also includes an in-depth competitive analysis of key market players along with their company profiles, DIVE, recent developments, and key growth strategies.
Reasons to Buy the Report
The report will help the market leaders/new entrants in this market by providing the closest approximations of the revenues for the overall composite adhesives market and the subsegments. This report will help stakeholders better understand the competitor landscape and gain more insights to improve the positions of their businesses and make suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide information on the market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on composite adhesives offered by the top players in the global composite adhesives market
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the composite adhesives market
Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for composite adhesives across regions
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global composite adhesives market
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global composite adhesives market