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Composite Adhesives Market Share

ID: MRFR//4565-HCR | 100 Pages | Author: Chitranshi Jaiswal| April 2024

In the dynamic landscape of the Composite Adhesives Market, companies employ various market share positioning strategies to gain a competitive edge and solidify their presence. One prevalent approach involves focusing on product differentiation. By offering unique and innovative composite adhesive solutions, companies can carve out a niche for themselves in the market. This strategy not only enhances customer loyalty but also helps command premium pricing, contributing to increased market share.

Another key strategy revolves around cost leadership. Some companies strategically position themselves as low-cost providers of composite adhesives, aiming to attract price-sensitive customers. This approach involves optimizing operational efficiency, streamlining production processes, and managing the supply chain effectively to keep costs down. By offering competitive prices without compromising quality, companies can capture a significant share of the market, especially in price-sensitive segments.

Market segmentation is also a pivotal strategy in the Composite Adhesives Market. Companies identify specific customer needs and tailor their products accordingly, catering to diverse industry segments. This targeted approach allows businesses to focus on niche markets, addressing the unique requirements of different applications such as automotive, aerospace, construction, and more. By understanding the distinct demands of each segment, companies can position themselves as specialists, thereby expanding their market share within specific industry verticals.

Strategic alliances and partnerships play a crucial role in market share positioning within the Composite Adhesives industry. Collaborating with other companies, suppliers, or research institutions can result in shared resources, technology exchange, and joint product development. By leveraging the strengths of multiple entities, companies can accelerate innovation, reduce costs, and enhance their overall competitiveness, ultimately capturing a larger portion of the market.

Brand building and effective marketing are integral components of market share positioning strategies. Establishing a strong brand identity helps create trust and credibility among customers. Companies invest in marketing campaigns that highlight the unique features and benefits of their composite adhesives, aiming to differentiate themselves from competitors. A well-executed marketing strategy not only attracts new customers but also reinforces brand loyalty among existing ones, contributing to sustained market share growth.

Global expansion is a strategy often employed by companies seeking to increase their market share in the Composite Adhesives Market. By entering new geographic regions, companies can tap into untapped markets and diversify their customer base. This expansion may involve adapting products to meet regional preferences, complying with local regulations, and establishing distribution networks. Through strategic global expansion, companies position themselves as key players on a broader scale, capturing market share in both established and emerging markets.

Continuous innovation is paramount for sustained success in the Composite Adhesives Market. Companies that invest in research and development, staying at the forefront of technological advancements, are better positioned to meet evolving customer demands. New and improved products not only attract customers but also enable companies to replace outdated solutions in the market, further solidifying their position and expanding market share.

Composite Adhesives Market Highlights:

Composite Adhesives Market Trends

Composite Adhesives Market Analysis

Composite Adhesives Market Share

Composite Adhesives Companies

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

Composite Adhesives Companies

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