At a CAGR of 5.5%, the global composite adhesives market is anticipated to increase from its current value of US$ 3.7 billion in 2023 to US$ 6.3 billion by 2033.
Utilising chemicals referred to as composite adhesives, composites are joined to other composites as well as a number of substrates. There are several different formats available for these items, including liquid, paste, and film. Adhesives are categorized into many classes based on how many components they include.
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Key Players
- Ashland Inc.
- Dymax Corporation
- The DOW Chemical Company
- Engineered Bonding Solutions
- Huntsman Corporation
- Master Bond Inc.
- Royal Adhesives & Sealants, LLC
- Scott Bader Company Ltd.
Key Takeaways from Market Study
- The global composite adhesives market is valued at US$ 3.7 billion in 2023.
- The market is forecasted to register a CAGR of 5.5% from 2023 to 2033.
- The Canadian market is expected to increase at a CAGR of 4.6%.
- The market for composite adhesives is projected to reach a value of US$ 6.3 billion by the end of 2033.
Winning Strategy
Key manufacturers of composite adhesives are investing at an increased rate to improve the quality of their respective products and pass on the benefits to end-use industries.Based on the rising demand for composite adhesives, market players are investing at an increased rate to expand their manufacturing units. They are also entering into mergers & acquisitions for their business expansion.
For instance,
- Jaguar Land Rover, in January 2021, announced to improve the efficiency of fuel of its newly launched electric vehicles over the coming years through the application of lightweight composite materials.
- Meridian Adhesives Group, in December 2021, acquired American Sealants Inc. The latter is a manufacturer of assembly sealants and adhesives. The acquisition aims to value addition to the portfolio of Meridian Adhesives Group while extending its reach as a provider of high-performance sealants and adhesives.
- Tesa SE, in April 2021 announced the investment of EUR 32 million (USD 36.39 million) for the expansion of the manufacturing capacity of their plant that is in Suzhou, China. This will cater to the increasing demands that are coming from electronic manufacturers.
- According to Airbus Global Market Forecast (from 2021 to 2040), around 15,250 new aircraft are projected to be delivered in the next 20 years that will replace less fuel-efficient older models.
Industry Survey
By Type :
- Epoxy
- Polyurethane
- Acrylic
- Cyanoacrylate
- Others
By End Use :
- Automotive & Transportation
- Aerospace & Defense
- Electrical & Electronics
- Construction
- Others
By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
The report answers numerous pertinent questions, some of which are:
- What are some of the latent areas of investments in the market?
- Which region is expected to emerge as showing the most attractive growth rate during the forecast period and which factors will be crucial to its growth?
- What trends are likely to change the status quo of the positions held by leading players of the market in the not-so-distant future?
- Which product/service/technology segments holds game-changing potential to dramatically shape the competitive dynamic in the market?
- What are the strategies adopted by top players to retain their stronghold in the market?
- Which strategic moves will new entrants adopt to gain a strong foothold in the market?
- How businesses can respond, manage, and mitigate the risks?
How can Fact.MR Make Difference?
- In-depth understanding of key industry trends shaping the present growth dynamics
- Offers value chain analysis and price trend analysis of various offering of competitors
- Offers data-drive decision to help companies decide strategies that need recalibration
- Offers insights into areas in research and development that should attract
- Identifies data outliers before your competitors
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