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The Composite Adhesives Market is influenced by various market factors that play a pivotal role in shaping its dynamics. One significant factor is the growing demand for lightweight materials in industries such as automotive, aerospace, and construction. As industries seek to enhance fuel efficiency, reduce carbon footprint, and improve overall performance, there is a rising preference for composite materials bonded together using advanced adhesives. The global composite adhesive market size was valued at USD 3.38 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 4.9% from 2022 to 203
Technological advancements also contribute to the market's growth. Continuous research and development efforts result in the formulation of high-performance composite adhesives with superior bonding capabilities, durability, and resistance to harsh environmental conditions. Manufacturers are increasingly investing in innovation to meet the evolving needs of end-users and gain a competitive edge in the market.
Global economic trends and geopolitical factors also impact the Composite Adhesives Market. Economic stability, currency fluctuations, and trade policies can influence the production costs and pricing of raw materials. Additionally, geopolitical tensions and trade disputes can create uncertainties, affecting the overall market landscape. Companies operating in the Composite Adhesives Market must stay vigilant to these external factors to navigate challenges effectively and make informed business decisions.
Environmental regulations and sustainability initiatives are becoming increasingly important in the Composite Adhesives Market. As governments worldwide tighten regulations to address environmental concerns, industries are compelled to adopt eco-friendly and sustainable practices. This has led to a growing emphasis on the development and use of composite adhesives that are not only efficient in bonding materials but also environmentally friendly, contributing to a circular economy.
The automotive sector's evolution towards electric vehicles (EVs) is another influential factor in the Composite Adhesives Market. With the global push for cleaner and greener transportation, the demand for electric vehicles is rising. Composite materials, bonded together by advanced adhesives, play a crucial role in the manufacturing of lightweight components for EVs. This shift in the automotive industry has a direct impact on the Composite Adhesives Market, creating new opportunities and challenges for market players.
Customer preferences and market trends also shape the Composite Adhesives Market. End-users are increasingly seeking solutions that provide not only robust bonding but also enhanced aesthetics and ease of application. As consumer awareness grows, manufacturers must align their product offerings with these evolving preferences to stay relevant and maintain a competitive edge in the market.
Supply chain dynamics and raw material availability are critical considerations for market participants. The Composite Adhesives Market heavily relies on raw materials such as resins, curing agents, and additives. Any disruptions in the supply chain or fluctuations in raw material prices can impact production costs and, consequently, the market's overall competitiveness.
Composite Adhesives Market Highlights:
Composite Adhesives Market Overview
 The global composite adhesive market size was valued at USD 3.38 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 4.9% from 2022 to 2030. The Composite Adhesives Market is expected to grow at a moderate rate over the next few years. Composite adhesives are the substances used to adhere composites to one another and to a variety of substrates. They come in a variety of forms, including liquid, paste, and film. Based on the number of components, adhesives are divided into two categories. Two-component adhesives consist of a resin and a hardener that can cure at room temperature or at high temperatures. Pre-mixed one-component adhesives can only be cured at high temperatures (usually 250-300°F). Even when exposed to harsh environments, composite adhesives deliver unrivalled mechanical strength and performance. Epoxy adhesives offer good bonding with a variety of substrates, as well as excellent durability and strength with low shrinkage, chemical, heat, and weather resistance, and electrical insulation. Polyurethane adhesives are popular in marine applications because of their ability to bond even in high moisture environments, excellent bonding with non-porous materials like wood, strong UV resistance, and low VOC content. Faster cure, high adhesion, and a strong thermoplastic with great resistance to shear, peel, and impact stresses are all advantages of methyl methacrylate adhesives. The global composite adhesives market is likely to be driven by the rising popularity of composites in various end-use sectors due to their high strength-to-weight ratio, low cost, and ease of manufacturing.
Global Composite Adhesives Market Share in 2017, by Product Type
 
Source: MRFR AnalysisKey Players
Some of the major players operating in the global composite adhesives market are Huntsman International LLC. (U.S.), Ashland. (U.S.), 3M (U.S.), Sika AG (Switzerland), ITW Engineered Polymers GmbH (Germany), Master Bond Inc (U.S.), Henkel AG & Co. KGaA (Germany), LORD Corporation (U.S.), Arkema SA (France), Permabond.com (U.S.), and H.B. Fuller Company. (U.S.).Market Segmentation
The global composite adhesives market is segmented by component, form, product type, end-use industry, and region.
On the basis of the component, the global composite adhesives market is segmented into one component and two component.
On the basis of the form, the global composite adhesives market is segmented into liquid, paste, film, and others.
On the basis of the product type, the global composite adhesives market is segmented into the epoxy, acrylic, polyurethane, methyl methacrylate, polyimide, phenolic, cyanoacrylate, silicone, and others. On the basis of the end-user industry, the global composite adhesives market is segmented into automotive & transportation, aerospace, healthcare, military & defense, electrical & electronics, wind energy, construction, marine, and others. On the basis of the region, the global composite adhesives market is segmented into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Regional Analysis
The global composite adhesives market is segmented into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.Â
North America accounted to have the major market share of the global composite adhesives market in 2017 owing to strong demand from different end-use industries such as aerospace, wind energy, electrical & electronics, healthcare, construction & infrastructure, and military & defense and is expected to exhibit steady growth over the forecast period 2018-2023. Europe was the second largest composite adhesives market after North America in 2017 owing to high demand from end-use industries such automotive & transportation, electrical & electronics, wind energy, and construction & infrastructure and is expected to show steady growth during the forecast period. Asia Pacific is expected to be the fastest growing market for composite adhesives due to rising demand for composites from the growing end-user industries such as automotive & transportation, military & defense, electrical & electronics, wind energy, healthcare, construction & infrastructure, marine & oil & gas and is expected to show bolstering demand over the forecast period. The Middle East & Africa is expected to drive demand mainly from the growing construction & infrastructural industry over the forecast period. Latin America is expected to show high demand mainly from the growing construction industry over the forecast period.
Recent Development
Pidilite Lanka Pvt Limited, a subsidiary of Pidilite Industries Ltd and a recognised manufacturer of adhesives, construction chemicals, and sealants, has introduced Araldite, an epoxy glue line, to the Sri Lankan market in November 2021. Araldite epoxy adhesives are the preferred choice for a wide range of industries and applications. In October 2021, Scott Bader, a well-known chemical company, has purchased a manufacturing facility in Mocksville, Texas, in order to meet the growing local and global demand for composite adhesives and gelcoats.
Intended Audience
- Composite adhesives manufacturers
- Traders and distributors of composite adhesives
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratory
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