Marine Adhesives Market - By Resin Type (Polyurethane, Acrylic, Epoxy, and Others), By Substrate Type (Metals, Composites, Plastics, and Others), By Vessel (Cargo Ships, Passenger Ships, Boats, and Others), By Application (Panel Bonding, Glazing, Deck Systems, and Others), And By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026

Global Marine Adhesives market, which accrued revenue worth 275.17 (USD Million) in 2019 and anticipated to garner earnings about 510.74 (USD Million) by 2026, is set to grow at a CAGR of nearly 5.2% during the period from 2020 to 2026.

23-Oct-2020 | Number of pages: 110 | Report Code: ZMR-3042 | Report Format : | Status : Published

Abstract

The global Marine Adhesives market, which accrued revenue worth 275.17 (USD Million) in 2019 and anticipated to garner earnings about 510.74 (USD Million) by 2026, is set to grow at a CAGR of nearly 5.2% during the period from 2020 to 2026. The report offers valuation and analysis of the Marine Adhesives market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, restraints, revenue estimates, avenues, current & emerging trends, and industry-validated market information. The report offers historical data from 2016 to 2018 along with a forecast from 2019 to 2026 based on value (USD Million).

Introduction

Marine adhesives are employed for marine applications. Furthermore, the product offers high bonding strength to materials, resistance against UV rays, capacity to absorb vibrations, and high paint compatibility. In addition to this, the product has proved to be effective in environments that get exposed to moisture. Apart from this, these compounds are massively utilized in construction & repairing of commercial boats, cruise ships, and leisure boats & yachts. The product imparts strength, durability, weather resistance, and stability to the teakwood-artificial deck bonding, inflatable bonding, and portholes & windows as well as deck to spider hulls bonds.

Market Growth Drivers

Humungous utility of marine adhesives for bonding of metal, composites, and plastic surfaces is anticipated to espouse market growth over the forthcoming years. Apart from this, a prominent surge in the popularity of amended passenger vessels will prop up the industry expansion over the years ahead. Massive popularity of underwater adventure sports activities coupled with surge in expenditure on modification activities will proliferate the use of marine adhesives in shipping industry over the ensuing years. In addition to this, large-scale utilization of polyurethane adhesives for various bonding purpose will proliferate the expansion of marine adhesive industry over the assessment timeline. Nevertheless, a large number of marine adhesives possess a specific temperature interval and can only be utilized within that temperature range and this is likely to create hurdles in the market growth path over the forthcoming years.

Asia Pacific To Contribute Majorly Towards Overall Market Share By 2026

The growth of the market in the region over the estimated timeline is due to large-scale usage of the product in the region. In addition to this, economies like Taiwan, China, Vietnam, South Korea, Philippines, and Japan are some of the major manufacturers of the ships and water boats. This will further create lucrative growth avenues for the marine adhesives industry in Asia Pacific zone over the forecast timespan.

Key players influencing the market growth and profiled in the report include H.B. Fuller, Chemique Adhesives & Sealants, Engineered Bonding Solutions, Scott Bader,  LORD Corporation, Henkel, 3M, Sika, ITW, Huntsman, WEICON, Bostik, Ashland, and MAPEI.

The global marine adhesives market is segmented as follows:

By resin type:

  • Epoxy
  • Polyurethane
  • Acrylic
  • Others

By substrate type:

  • Plastics
  • Composites
  • Metals
  • Others

By vessel:

  • Boats
  • Passenger Ships
  • Cargo Ships
  • Others

By application:

  • Glazing
  • Deck Systems
  • Panel Bonding
  • Others

By Region

  • 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

Frequently Asked Questions

Humungous utility of marine adhesives for bonding of metal, composites, and plastic surfaces is anticipated to espouse market growth over the forthcoming years. Apart from this, a prominent surge in the popularity of amended passenger vessels will prop up the industry expansion over the years ahead. Massive popularity of underwater adventure sports activities coupled with surge in expenditure on modification activities will proliferate the use of marine adhesives in shipping industry over the ensuing years.

According to Zion market research report, the global Marine Adhesives market, which accrued revenue worth 275.17 (USD Million) in 2019 and anticipated to garner earnings about 510.74 (USD Million) by 2026, is set to grow at a CAGR of nearly 5.2% during the period from 2020 to 2026.

Asia Pacific is likely to make noteworthy contributions towards overall market revenue. The growth of the market in the region can be credited to large-scale usage of the product in the region. In addition to this, economies like Taiwan, China, Vietnam, South Korea, Philippines, and Japan are some of the major manufacturers of the ships and water boats. This will further create lucrative growth avenues for the marine adhesives industry in Asia Pacific zone over the forecast timespan.

The key players profiled in the report include H.B. Fuller, Chemique Adhesives & Sealants, Engineered Bonding Solutions, Scott Bader, LORD Corporation, Henkel, 3M, Sika, ITW, Huntsman, WEICON, Bostik, Ashland, and MAPEI. Industry players are trying to increase their regional market share through introduction of new products and are focusing on creating eco-friendly products to minimize environmental degradation along with enhancing their profitability.

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