Construction Applications to Yield 1/4th of Global Moisture Curing Adhesives Revenue: Fact.MR
Published : 12 Oct 2021 Industry: Chemical & Materials
A recently published report by Fact.MR reveals that the global moisture curing market is projected to grow at a CAGR of 6% during the forecast period 2021-2031, reaching nearly US$ 10.74 Bn by 2031. Growth is majorly driven by high uptake in the construction industry.
The industry registered a CAGR of 5% throughout the 2016-2020 historical period. Prospects somewhat dipped in 2020 during the coronavirus pandemic, given the recessionary trends induced in the aforementioned end use industries. However, projections are likely to experience a resurgence, as production activities gradually resume with the lifting of restrictions.
Future prospects are extensively reliant on the performance of the automotive and construction industries respectively. Forecast to be valued at US$ 8 trillion by 2030, the global construction industry is forecast to register almost 4% annual growth, with India, China and the U.S remaining at the forefront. Also, China is at the forefront of global automotive production, with a whopping 45% incline witnessed in 2021. Consequently, demand for high-grade and robust adhesives is inclining, laying fertile ground for moisture curing adhesives.
Key Takeaways from the Market Study
- Sales of polyurethane are expected to remain significantly high, registering a CAGR of around 7%.
- Moisture curing adhesives for the construction industry to contribute nearly 1/4th of global revenue
- By composition, cyanoacrylate moisture curing adhesives to account for nearly 20% revenue
- At least 1 out of 4 moisture curing adhesives sales to be driven by North America
- Asia to register a revenue share of 24%, with China expanding at around 10% CAGR
“The automotive industry is taking a new leap with rising production of vehicles. This will create new opportunities for moisture-curing adhesive manufacturers in the post-pandemic period, prompting manufacturers will need to diversify their range of customers by introducing industry-specific properties of moisture curing adhesives,” says a lead analyst at Fact. MR.
Key players involved in the market are rigorously investing in the development and launches of new products to gain a competitive advantage and expand their consumer base. Mergers & acquisitions along with diversification of product portfolios are key business strategies implemented by participants in the industry.
- In September 2021, Arkema S.A has initiated plans to acquire Ashland’s adhesives business for US$ 1.65 billion. The business primarily consists of Isoset water-based polyurethane wood glues and Aroset acrylic pressure-sensitive adhesives for floor graphics and packaging labels
- Likewise, Dymax Corporation has released the Dual-Cure 9771 reworkable conformal coating, capable of curing with light and moisture to ensure firm hold on the surface underneath PCBs in missiles, spacecrafts and satellites, in September 2021
More Insights Available
In its latest report, Fact.MR offers an unbiased analysis of the moisture curing adhesives market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031.
Market statistics have been presented on the basis of composition (silicone, polyolefin, cyanoacrylate and polyurethane) and end use industry (automotive, construction, textiles, wood working and others) across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).
About the Chemical and Material Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemical and material team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the chemical industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Sr. Consultant – Chemicals and Materials