Global Composite Adhesives Market Size By Resin Type (Epoxy, Polyurethane, Acrylic, Cyanoacrylate), By End-User (Building & Construction, Electrical & Electronics, Energy, Aerospace & Defense), By Geographic Scope And Forecast
Report ID: 340488|No. of Pages: 202
Global Composite Adhesives Market Size By Resin Type (Epoxy, Polyurethane, Acrylic, Cyanoacrylate), By End-User (Building & Construction, Electrical & Electronics, Energy, Aerospace & Defense), By Geographic Scope And Forecast
Composite Adhesives Market Size And Forecast
Composite Adhesives Market size had a valuation of USD 3.21 Billion in 2022. We expect that the Market will reach a valuation of USD 8.78 Billion by 2030, with an exceptional CAGR of 7.63% during the forecast period of 2024-2030.
The global Composite adhesives market is experiencing staggering growth due to the growing employment of composite materials across leading industries, rising demand for EVs, and construction activities in developing countries. The defense sector is also a prominent contributor to the development of the Composite adhesives market. The Global Composite Adhesives Market report delivers a holistic evaluation. The report thoroughly analyzes key segments, trends, drivers, restraints, competitive landscape, and factors that play a substantial role in the Market.
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Global Composite Adhesives Market Definition
Composite adhesives are used on composite materials to offer them greater structural integrity and make them last longer. Adhesives for composite materials offer many advantages, such as shock resistance, resistance to high temperatures, cryogenic shock resistance, insulation against heat and electricity, resistance against chemical corrosion, etc.
Because of these benefits, Composite adhesives have an exceptional demand in many industries like building & construction, electrical & electronics, energy, automotive & transportation, healthcare, etc., for many distinct applications. The commonly used Composite adhesives include epoxy, polyurethane, acrylic, cyanoacrylate, and others.
Epoxy is the most used adhesive for composite materials as it has superior adhesion and can offer extensive benefits compared to other adhesives. However, acrylic is also seeing significant growth in demand because of its easy-to-use nature and sufficient adhesion to offer the required structural integrity.
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Global Composite Adhesives Market Overview
The primary growth factors for the global Composite Adhesives Market include the rapidly expanding automotive industry, especially the EV Market, construction activities in developing countries, growing focus on defense arsenal, especially aircraft, etc. The automotive sector is the primary driver for the growing use of composite materials, which are employed for various applications across the manufacturing of cars.
EVs are on the verge of becoming the replacement for fuel-based vehicles because of their lower carbon footprint and lower environmental damage. EVs also are much more efficient than fuel-based cars, certainly for long travels. China has procured a leading position in the global EV Market because of its well-established manufacturing and electronics industry which offers cheap and skilled labor while ensuring maximum efficiency.
Thus, the Asia Pacific region is exerting a greater dominance over the global market. However, due to the growing focus on defense solutions by the US, the North American region is growing at a staggering CAGR.
Global Composite Adhesives Market Segmentation Analysis
The Global Composite Adhesives Market has distinct segments based on Resin Type, End-User, and Geography.
Composite Adhesives Market, By Resin Type
- Epoxy
- Polyurethane
- Acrylic
- Cyanoacrylate
- Others
Based on the Resin Type, the global market for Composite Adhesives is segmented into epoxy, polyurethane, acrylic, cyanoacrylate, and others. The epoxy segment controlled the greater share of the global Composite Adhesives Market because of being affordable, structural integrity, and higher resistance to temperature and external force. Although epoxy has the largest Market share of the Composite Adhesives Market, the fastest growing segment is the acrylic segment because of its superior adhesive abilities.
Composite Adhesives Market, By End-User
- Building & Construction
- Electrical & Electronics
- Energy
- Aerospace & Defense
- Automotive & Transportation
- Healthcare
- Others
Based on the End-User, the global market for Composite Adhesives is segmented into building & construction, electrical & electronics, energy, automotive & transportation, healthcare, and others. The aerospace and defense segment controlled the largest share of the global Composite Adhesives market due to the greater demand for Composite Adhesives for various applications. The US is the largest Market for aerospace and defense operations due to its greater focus on defense. The US has the largest defense budget compared to any other country, which contributes to the aerospace and defense sector in the country.
Composite Adhesives Market, By Geography
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Based on the Regional Analysis, the global market for Composite Adhesives is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. The Asia Pacific region held a leading position in the global Composite Adhesives Market by geography. This is due to the automotive industry in the Asia Pacific region, especially the EV Market, as it has shown an exceptional boost in demand for composite adhesives. However, due to the rising importance of defense and rising focus on the air force arsenal, the North American region is emerging as the fastest-growing Market by geography.
Key Players
The “Global Composite Adhesives Market” study report will provide valuable insight with an emphasis on the global Market. The major players in the Market are 3M, Bostik, Dow, Henkel AG & Co. KGaA, H.B. Fuller Company, Huntsman Corporation LLC, Illinois Tool Works Inc, Permabond LLC, Parker Hannifin Corp, and Sika AG.
Our Market analysis also entails a section solely dedicated to such major players wherein our analysts provide insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, Market share, and Market ranking analysis of the above-mentioned players globally.
Key Developments
- In April 2023, Bostik introduced a new label adhesive in the Market named, Flexcryl ClearCycle 1000 adhesive with specially developed wash-off technology.
- In June 2023, H.B. Fuller Company announced the acquisitions of Adhezion Biomedical and XCHEM International.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
Market Attractiveness
The image of Market attractiveness provided would further help to get information about the region that is majorly leading in the Global Composite Adhesives Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Composite Adhesives Market, gauge the attractiveness of a certain sector, and assess investment possibilities.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2019-2030 |
| BASE YEAR | 2022 |
| FORECAST PERIOD | 2024-2030 |
| HISTORICAL PERIOD | 2019-2021 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | 3M, Bostik, Dow, Henkel AG & Co. KGaA, H.B. Fuller Company, Huntsman Corporation LLC, Illinois Tool Works Inc, Permabond LLC, Parker Hannifin Corp, and Sika AG |
| SEGMENTS COVERED |
|
| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
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• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major Market players
• The current as well as the future Market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
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Data Collection Matrix
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Industry Analysis Matrix
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