Composite Adhesive Market - Global Industry Analysis

Global Composite Adhesive Market: Overview

Composites are widely used across different industries. Graphite, kevlar, carbon fiber, and glass fiber are some of the commonly used composites. They have high mechanical strength and are lighter in weight. To add strength to the finished part, composite adhesives are designed in such a way that they match the mechanical properties of the material. Composite adhesives consist of different materials and they can be in the form of water-based, solvent-based, pellets, paste, hot melt, foam, and film. Also, composite adhesive has become an integral part of most advanced composite projects.

Report Scope:

Global Composite Adhesive Market: Growth Factors

The global composite adhesive market is growing at an exponential rate. Increase in use of composite from several industries including consumer electronics, construction, aerospace and automotive is the predominant factor that is boosting the growth of the global market. In aerospace, composites are used extensively owing to the benefits it offers which includes aesthetics, structural integrity, and light weighting. To preserve the structural integrity of critical aircraft components, structural adhesives are used as they are better known to handle high levels of stress, provide better design latitude, increase durability, require less machining, and reduce component weight. Thus, with composite frames being prominent in aerospace industry, the demand for composite adhesives has increase substantially. Further, growing preference towards composite adhesives over adhering and conventional binding techniques such as welds, fasteners, and mechanical bolts are also fueling the growth of the market. In addition to this, numerous applications of composite adhesives for orthopedic devices, racing cars & automobiles, consumer goods packaging, perforated panel assembly, storage tanks, and many more are further contributing to the market growth. Moreover, rapidly growing construction industry and rise in use of composite in production of wind energy are equally contributing to the global market. Furthermore, heavy investments by the manufacturers and increase in demand for sustainable, green, & low VOC adhesives may provide several opportunities for the growth of the global composite adhesive market. However, volatile prices of raw materials and strict regulations may hinder the growth of the global composite adhesive market.

The global composite adhesive market is severely hit by the Covid-19 pandemic. This is majorly because most of its end-use industries including aerospace, electronics, construction, and many others were negatively affected by strict rules such as nationwide lockdown and restriction on movement. In addition to this, disruption in supply and distribution chain leading to disruption in supply demand affected the key players operating in the global market. However, post pandemic era, the market has witnessed healthy growth rate and is expected to grow during the forecast period.

Global Composite Adhesive Market: Segmentation

The global composite adhesive market is bifurcated based on component, product, application, and region. Based on component, the global composite adhesive market is segregated into two component and one component. The product segment consists of epoxy, methyl methacrylate, acrylic, polyurethane, and others. Based on application, the composite adhesive market is divided into automotive & transportation, construction, electrical & electronics, aerospace & defense, and others.

Global Composite Adhesive Market: Regional Analysis

Asia Pacific is anticipated to be the largest market for composite adhesives during the forecast period. The region is also likely to record fastest growth. This is majorly due to business expansion by the key players in APAC and growing applications of composite adhesives. In addition to this, lightweight construction structures are adopting composite adhesives which in turn is boosting the market. China is likely to contribute to a significant share of the market owing to increase in use of acrylic composite adhesives across several industries and rapidly expanding construction sector owing to strong infrastructural growth & increase in population. North America is also predicted to hold a significant share in the market owing to growing demand from electronic and aerospace industries. Further, favorable government policies for environment protection and strict rules related to carbon emission are some of the factors that are fostering market growth in this region. On the other hand, increase in adoption of composites in OEM and passenger car production, European market is also estimated to show a healthy growth rate during the forecast period.

Global Composite Adhesive Market: Competitive Players

The global composite adhesive market is slightly fragmented. Major players are highly investing in R&D activities for expansion of product portfolio and development of technologies to minimize the production cost & cycle. Some of the predominant players that are operating in the global market are Henkel AG & Co. KGaA, Dow Inc., Bostik, Ashland Inc., 3M, Permanbond LLC, Strategic Initiatives, Lord Corp., Illinois Tool Works Inc., and Huntsman Corp. among others.

Global Composite Adhesive Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.