ID: MRFR/CnM/4565-HCR | February 2021 | Region: Global | 100 pages
Composite Adhesives Market has moderate CAGR forecast period 2021-2030. Composite adhesives are the substance applied to bind the composites to themselves and to numerous different substrates. They are available in different forms such as liquid, paste, and film. Adhesives are categorized into two types based on the number of components. Two-component adhesives are made up of resin and hardener and can be cured at room temperature or at elevated temperatures. One component adhesives are premixed and can be cured only at elevated temperatures only (typically 250-300°F). Composite adhesives provide high mechanical strength and peerless performance even upon exposure to extreme conditions. Various types of resins such as epoxy, acrylic, polyurethane, methyl methacrylate, polyimide, phenolic, cyanoacrylate, silicone, and others are used to make different types of adhesives. Epoxy adhesives provide superior bonding with different types of substrate, excellent durability & strength with low shrinkage, superior chemical, heat & weather resistance, and excellent electrical insulation properties. Polyurethane adhesives are widely used for marine applications owing to its ability to bond even in high moisture conditions, superior bonding with a non-porous substance such as wood, high UV resistance, and low VOC content. Methyl methacrylate adhesives provide faster curing, excellent adhesion, and material forms a strong thermoplastic with excellent resistance to shear, peel and impact stresses.
Growing popularity of composites in different end-use industries owing to its high strength to weight ratio, low cost, and easy fabrication is expected to be the key driver of the global composite adhesives market. For instance, over 50% constituents of an airplane are fabricated by composites such as rudder, engine cowlings, spoilers, airbrakes, and rear bulkhead elevators among other owing to its reduced weight and assembly simplification. In the automotive industry, many components such as steering wheel, energy absorber, dashboard, 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. In the healthcare industry, composites are used in varied application such as in the form of sutures, heart valves, dental implants, vascular grafts, and pacemakers among others in order to replace or restore the role of degenerated tissues and organs to enable healing and enhance functions thereby improving the overall quality of the life of patients. In electrical & electronics industry, composite materials are used to make die-attach, printed circuit boards, connectors, heat sinks, and thermal interface materials.
However, stringent regulations by EPA against the use of high VOC content materials in Europe and North America may hamper the composite market to some extent and thus adversely affect the composite adhesives market growth. Additionally, the volatile pricing of raw materials used to make composite adhesives might hamper composite adhesives industry growth.
Global Composite Adhesives Market Share in 2017, by Product Type
Source: MRFR Analysis
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.).
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.
The global composite adhesives market is segmented into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.
November 2021 : Pidilite Lanka Pvt Limited, Pidilite Industries Ltd’s subsidiary, which is a renowned developer of adhesives, construction chemicals, and sealants has introduced Araldite, a line of epoxy adhesives in the Sri Lankan market. Araldite line of epoxy adhesives are the top choice for use in a variety of sectors and applications. These composite adhesives find applications in Machine repair, Do It Yourself (DIY) use-cases, and automotive repair. The launch is expected to strengthen the company’s extensive portfolio of composite adhesives and sealants.
October 2021 : Scott Bader, a well-established chemical firm, has acquired a production unit in Mocksville, U.S., with the aim to accommodate the escalating domestic as well as worldwide demand for composite adhesives along with gelcoats. The new 110,000-square-foot production unit, situated at a 15-acre facility in North Carolina, will now be the brand’s latest state-of-the-art composite adhesives production facility.
|Market Size||2030 : Significant value|
|CAGR||2021-2030 : Substantial CAGR|
|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|
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.