Composite Adhesives Market Research Report – Forecast to 2030

Composite Adhesives Market Information: by Component (one, two), Form (liquid, paste, film), Product Type (epoxy, acrylic, polyurethane), End-Use Industry (automotive, aerospace, healthcare, electronics) and Region - Forecast till 2030

ID: MRFR/CnM/4565-HCR | February 2023 | Region: Global | 100 Pages         

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Composite Adhesives Market

The global composite adhesive market size was valued at USD 3.38 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 4.9% from 2022 to 2030.

Segmentation
By Component one two
Form liquid paste film
Product Type epoxy acrylic polyurethane
End-Use Industry automotive aerospace healthcare electronics
Key Players
Companies Profiled   Huntsman International LLC. (U.S.)   Ashland. (U.S.)   3M (U.S.)   Sika AG (Switzerland)   ITW Engineered Polymers GmbH (Germany)   Master Bond Inc (U.S.)   Henkel AG & Co. KGaA (Germany)   LORD Corporation (U.S.)   Arkema SA (France)   Permabond.com (U.S.)   H.B. Fuller Company. (U.S.)
Drivers
Market Driving Forces   Growing popularity of composites in different end-use industries owing to its high strength to weight ratio
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Composite Adhesives Market Overview The global composite adhesive market size was valued at USD 3.38 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 4.9% from 2022 to 2030. The Composite Adhesives Market is expected to grow at a moderate rate over the next few years. Composite adhesives are the substances used to adhere composites to one another and to a variety of substrates. They come in a variety of forms, including liquid, paste, and film. Based on the number of components, adhesives are divided into two categories. Two-component adhesives consist of a resin and a hardener that can cure at room temperature or at high temperatures. Pre-mixed one-component adhesives can only be cured at high temperatures (usually 250-300°F). Even when exposed to harsh environments, composite adhesives deliver unrivalled mechanical strength and performance. Epoxy adhesives offer good bonding with a variety of substrates, as well as excellent durability and strength with low shrinkage, chemical, heat, and weather resistance, and electrical insulation. Polyurethane adhesives are popular in marine applications because of their ability to bond even in high moisture environments, excellent bonding with non-porous materials like wood, strong UV resistance, and low VOC content. Faster cure, high adhesion, and a strong thermoplastic with great resistance to shear, peel, and impact stresses are all advantages of methyl methacrylate adhesives. The global composite adhesives market is likely to be driven by the rising popularity of composites in various end-use sectors due to their high strength-to-weight ratio, low cost, and ease of manufacturing.

Global Composite Adhesives Market Share in 2017, by Product Type


 Composite Adhesives Market Share


Source: MRFR AnalysisKey Players


Some of the major players operating in the global composite adhesives market are Huntsman International LLC. (U.S.), Ashland. (U.S.), 3M (U.S.), Sika AG (Switzerland), ITW Engineered Polymers GmbH (Germany), Master Bond Inc (U.S.), Henkel AG & Co. KGaA (Germany), LORD Corporation (U.S.), Arkema SA (France), Permabond.com (U.S.), and H.B. Fuller Company. (U.S.).Market Segmentation


The global composite adhesives market is segmented by component, form, product type, end-use industry, and region.


On the basis of the component, the global composite adhesives market is segmented into one component and two component.


On the basis of the form, the global composite adhesives market is segmented into liquid, paste, film, and others.


On the basis of the product type, the global composite adhesives market is segmented into the epoxy, acrylic, polyurethane, methyl methacrylate, polyimide, phenolic, cyanoacrylate, silicone, and others. On the basis of the end-user industry, the global composite adhesives market is segmented into automotive & transportation, aerospace, healthcare, military & defense, electrical & electronics, wind energy, construction, marine, and others. On the basis of the region, the global composite adhesives market is segmented into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.

Regional Analysis


The global composite adhesives market is segmented into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. 


North America accounted to have the major market share of the global composite adhesives market in 2017 owing to strong demand from different end-use industries such as aerospace, wind energy, electrical & electronics, healthcare, construction & infrastructure, and military & defense and is expected to exhibit steady growth over the forecast period 2018-2023. Europe was the second largest composite adhesives market after North America in 2017 owing to high demand from end-use industries such automotive & transportation, electrical & electronics, wind energy, and construction & infrastructure and is expected to show steady growth during the forecast period. Asia Pacific is expected to be the fastest growing market for composite adhesives due to rising demand for composites from the growing end-user industries such as automotive & transportation, military & defense, electrical & electronics, wind energy, healthcare, construction & infrastructure, marine & oil & gas and is expected to show bolstering demand over the forecast period. The Middle East & Africa is expected to drive demand mainly from the growing construction & infrastructural industry over the forecast period. Latin America is expected to show high demand mainly from the growing construction industry over the forecast period.

Recent Development


Pidilite Lanka Pvt Limited, a subsidiary of Pidilite Industries Ltd and a recognised manufacturer of adhesives, construction chemicals, and sealants, has introduced Araldite, an epoxy glue line, to the Sri Lankan market in November 2021. Araldite epoxy adhesives are the preferred choice for a wide range of industries and applications. In October 2021, Scott Bader, a well-known chemical company, has purchased a manufacturing facility in Mocksville, Texas, in order to meet the growing local and global demand for composite adhesives and gelcoats.

Intended Audience



  • Composite adhesives manufacturers

  • Traders and distributors of composite adhesives

  • Research and development institutes

  • Potential investors

  • Raw material suppliers

  • Nationalized laboratory



Report Scope:

Report Attribute/Metric Details
  Market Size   2030 : Significant value
  CAGR   2021-2030 : Substantial CAGR
  Base Year   2021
  Forecast Period   2021-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Component, Product Type, End-Use Industry and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Huntsman International LLC. (U.S.), Ashland. (U.S.), 3M (U.S.), Sika AG (Switzerland), ITW Engineered Polymers GmbH (Germany), Master Bond Inc (U.S.), Henkel AG & Co. KGaA (Germany), LORD Corporation (U.S.), Arkema SA (France), Permabond.com (U.S.), and H.B. Fuller Company. (U.S.).
  Key Market Opportunities   Instrument cluster, roof, interior and exterior panel, and intelligent lighting systems are fabricated by composite materials on account of increasing demand for lightweight automotive components.
  Key Market Drivers   Growing popularity of composites in different end-use industries owing to its high strength to weight ratio


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Frequently Asked Questions (FAQ) :

Composite adhesives are available in liquid, paste, and film forms.

Major product types in the composite adhesives market include epoxy, acrylic, polyurethane, and methyl methacrylate, among others.

Growing usage of composites in various end use industries is likely to be the major driver for the composite adhesives market.

North America held the largest share in the global composite adhesive market.

Leading players in the composite adhesive market include Huntsman, Ashland, 3M, and Sika, among others.