11-Jan-2022 | Zion Market Research
As per study of Zion Market Research, Composite Adhesives industry amassed proceeds worth nearly US$ 3.4 billion in 2020 and is anticipated to accrue returns of approximately US$ 5.7 billion by 2028. Moreover, Composite Adhesives market is prognosis to record CAGR of almost 4.2% in 2021-2028. Furthermore, expansion of Composite Adhesives market over assessment period can be due to its use in bonding of substrates & materials, namely, in automotive industry. Moreover, its ability to substantially reduce production time, costs, and cycle time will enhance product demand. In addition to this, replacement of fasteners with composite adhesives for enhancing fatigue performance will contribute majorly towards market size. Growth of composite adhesives industry over anticipated timeline can be credited to large-scale use of product in wind power sector as well in automotive, electrical & electronics, aerospace & defense, transportation, and construction sectors.
Epoxy Segment To Dominate Product Landscape By 2028
Growth of epoxy segment over forecast period is subject to its low costs and beneficial features such as resistance to extreme temperatures, reduced shrinkage, mechanical shock resistance, and cryogenic shock resistance. Apart from this, high segmental share can be attributed to product versatility as well as epoxy’s ability to bond all kinds of substrates including wood, glass, plastics, and ceramics.
Automotive & Transportation Sector To Account Significantly Towards Market Size Over 2021-2028
Growth of segment over 2021-2028 can be credited to huge emphasis of automotive firms on reducing vehicle weight along with launching of new vehicle models. Need for reducing fuel emissions in vehicles is predicted to culminate into huge penetration of composite adhesives in automotive & transportation sector.
North American Composite Adhesives Market To Register Fastest Growth Rate Over 2021-2028
Growth of composite adhesives market in North America over assessment timespan can be attributed to rise in product demand across aerospace, automotive, transport, wind power, and consumer electronics verticals. Apart from this, surge in product need in OEM & passenger vehicle production will proliferate regional market size over forecasting timeline. Growing ecological concerns and stringent laws put into practice by U.S. government to control GHG emissions will prompt regional market landscape.
Some of the major players have strongly influenced expansion of composite adhesives market revenue and will continue to do so even in foreseeable future. We have profiled these players in our market research report and it includes Lord Corp., Permanbond LLC, Henkel AG & Co. KGaA, Bostik, Ashland Inc., Illinois Tool Works Inc., Dow Inc., The 3M Company, and Huntsman Corp.
Browse the full “Composite Adhesives Market- By Product (Acrylic And Epoxy), By End-Use (Automotive & Transportation, Aerospace & Defense, Construction, And Electrical & Electronics), And By Region- Global Industry Perspective, Comprehensive Analysis, And Forecast, 2021 – 2028.” Report at https://www.zionmarketresearch.com/report/composite-adhesive-market
The global Composite Adhesives Market is segmented as follows:
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