Composite Adhesives Market to exceed 850 kilo tons consumption by 2024
Date: 2018-12-26   Author: Rahul Varpe  Category: #market

Composite Adhesives Market to exceed 850 kilo tons consumption by 2024

Global Market Insights, Inc. adds a new Composite Adhesives Market research report for the period of 2018-2024 focuses on the major drivers and restraints for the global key players providing analysis of the market share, segmentation, revenue forecasts and geographic regions of the market.

Composite Adhesives Market size should surpass USD 2 billion by 2024. Increasing application for replacing conventional binding and adhering techniques like mechanical bolt, fasteners and welds in automotive, marine, construction and aerospace industry should impel composite adhesives market size. Its growing popularity for various industrial application can be attributed to significant reduction in structural weight, fuel consumption and cost savings. Use of structural adhesives also shortens production cycle time and eliminate drilling hole on assemblies enhancing its structural strength.

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Acrylic composite adhesives demand will witness significant gains at over 5% during forecast period. This growth in demand for acrylic based products can be ascribed to its increasing application scope in binding truck hoods, raised-roof assemblies and in automobiles to bond composites for roofs, doors, liftgates and hoods. Acrylics offer high bond strength on plastics, composites & metals and performs well even on oily surfaces at lower surface temperature than epoxies.   
 

Rapid industrial & infrastructural growth along with increasing renovation project incurring huge spending in Brazil, India, Vietnam and China should bolster demand for composite materials thus driving structural adhesives market size. Shifting trends towards adopting composites replacing traditional building materials like brick, wood, mortar and stones should further strengthen industry growth. Composite adhesives are used to bond materials which need to withstand high stresses and loads without compromising structural integrity.  

Growing demand of composites in manufacturing aircrafts for commercial and defense sectors propels adhesives demand. These products are commonly used to attach joints to cured parts like stingers and uncured parts like wing skins due to its inherent characteristics of offering toughness, strength, stiffness and high temperature performance to fixtures and joints. Focus for existing participant to renovate or buy new models to enhance passenger safety and comfort should also drive product demand.

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North America, led by U.S. composite adhesives industry size, is anticipated to grow at a rate of about 4% during projected timeframe. Rising utilization of composite adhesives in medical devices, cascade for engine, leaf spring, machinery and welded tube application should drive industry growth. Growing demand for high-quality composite adhesive which offer superior properties should fuel regional product demand.

Cyanoacrylate based composite adhesives will signify robust growth during the projected timeframe due to its instant adhering properties. These grades of adhesives are highly viscous, surface insensitive, low odor and non-blooming in nature. They are self-curing and sets in between 10 to 15 seconds and commonly used to adhere substrates including polypropylene, polyethylene, PTFE and other polyolefins which are difficult to bond.  

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Global composite adhesives industry share is fairly consolidated with participants including 3M, Henkel, Permabond, Sika AG, LORD Group, Bostik, SciGRIP and Covestro. Other key industry players include Hybond, Gurit, Huntsman, Argosy, Allnex, Solvay and ASI. Companies manufacturing these adhesives focus to enlarge their production capacity by investing on facility upgradation. They also adopt strategies like merger, acquisition and partnership with other players to enhance their product application portfolio through increasing R&D spending.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for AlgosOnline. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. ...

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