Two Component Adhesives Market: About the Report
Since two component adhesives are well-known for their high adhesive strength and heat resistance, they find application in numerous end-use industries, especially automotive and construction. Market players are leveraging the trend of lightweight along with strength in the automobile industry to push sales of innovative two component adhesives. The report prepared by Fact.MR also discusses how increasing sales of electric vehicles, will, in fact, benefit the progress of the two component adhesives market in the long run.
Two Component Adhesives Market Overview
Two component adhesives are binding substances known for adhesions that are led by chemical reactions. These adhesives are sometimes recognized as reactive adhesives or structural adhesives. Two component adhesives are known for their fast curing, easy process due to their creamy consistency, flawless shine after mechanical polishing, high chemical and wear resistance, and high bonding power even at high temperatures. Owing to this, demand for these adhesives is consistently rising in end-use industries. This is projected to aid the expansion of the two component adhesives market over the forecast period of 2020 to 2030.
Rising Demand in Automotive & Construction Sectors Supporting Growth
In the automotive industry, increasing focus on using lightweight materials such as plastics, composites, and aluminum has risen demand for two component adhesives. These adhesives are employed for meeting the bonding requirements owing to their high chemical resistance, excellent wear resistance, and high bonding power even at high temperatures. Besides the automotive sector, rise in demand from the construction sector is driving the growth of the two component adhesives market. Growth witnessed is attributable to the replacement of conventional binding and adhering methods such as mechanical pins, fastening, and welding with two component adhesives.
Fluctuating Raw Material Prices Hampering Growth
Manufacturers in the two component adhesives market have stated instability in the prices of raw material. In addition to this, government regulations and the consequent effects on end-use industries are hampering the full-fledged growth potential of the global two component adhesives market.
Two Component Adhesives Market by End-use Industry
Based on end-use industry, the two component adhesives market is gaining significantly from the automotive and construction segments. In the automotive segment, growth witnessed is attributable to rising investments in R&D practices by automotive manufacturers and increasing government initiatives. All these factors are leading to the expansion of the automotive sector, thus augmenting demand in the two component adhesives market. Furthermore, with electric vehicles set to roll out, demand is projected to rise significantly.
Besides the automotive segment, the construction segment is holding a sizeable two component adhesives market share. Superior properties of two component adhesives such as ability to bind different materials together, more efficient distribution of stress across a joint, cost-effectiveness, easily mechanized process, and greater flexibility in design are aiding market growth.
Two Component Adhesives Market Insights by Composition
Based on composition, the polyurethane segment is anticipated to surge notably through the forecast period. These adhesives are high in demand as they reduce overall manufacturing costs, enhance product performance, and improve product life and and reliability. Besides polyurethane, the MMA segment is forecast to create lucrative opportunities and showcase notable growth in the two component adhesives market over the assessment period.
Regional Outlook of Two Component Adhesives Market
Asia Pacific is an attractive market for two component adhesives. The region is witnessing rapid growth in the automotive, construction, and electronics segments of the market. Furthermore, consistent launch of initiatives by governments in the region to enhance ease of operating businesses are supporting the growth of the two component adhesives market. For instance, in India, RE-INVEST 2020 is an initiative intending to stimulate the global effort to scale up the development and deployment of renewable energy. It unites the global investment community with Indian energy stakeholders. Such initiatives towards expansion of end-use industries are propelling demand in the two components adhesives market.
Europe accounts for a sizeable share of the market in terms of value. Growth witnessed in the region is primarily attributable to the roots of some automotive suppliers such as Bosch in Europe. Furthermore, stringent administration supported by rising investments by leading manufacturers in R&D collaborations is driving the market.
Besides, Asia Pacific and Europe, North America is witnessing rising demand for two component adhesives. Polyurethane adhesives are witnessing a surge in industries such as building & construction and automotive & transportation. Furthermore, growing concentration of governments to decrease ever-rising accident cases is reshaping the automotive industry in North America. This is projected to create lucrative opportunities for key players operating in the two component adhesives market.
Two Component Adhesives Market: Competitive Landscape
The global two component adhesives market is highly competitive in nature, which is attributable to increasing R&D activities by manufacturers. Players are working more on megatrends such as e-mobility, sustainability, and digitalization to create a fast-changing environment. Additionally, mergers and acquisitions adopted by leading companies to enhance their product portfolios are also propelling the growth of the two component adhesives market.
With a surge in demand from construction, automotive, and aerospace industries, several newcomers marked their entry into the market. Some of the established players listed in the two component adhesives market report include 3M Company, BASF SE, Bostik AB, DowDuPont, Inc., H.B. Fuller, Henkel AG & Co. KGaA, Huntsman Corporation, Master Bond, Inc., and Sika A.G., among others.
The Analyst’s Viewpoint
"Light-weighting trends in the automotive, transport, and aerospace sectors are fueling demand for two component adhesives. In APAC, players will experience lucrative opportunities owing to increasing initiatives and investments in industrial expansion by governments."
COVID-19 Impact on Two Component Adhesives Market
The global COVID-19 pandemic led to a sudden halt in manufacturing activities across the world. The pandemic had a similar effect on the two component adhesives market as well. Manufacturers reported a fall in demand accompanied by shutdown of production and processing activities. From shortage of raw material and migrant labor to disruptions in the supply chain, the market underwent unexpected challenges. A major factor behind this fall is shutdown of manufacturing activities by major end-use industries such as automotive, construction, aerospace, and electronics. Furthermore, the situation was triggered by fluctuating currency rates and transport restrictions during the initial phases of the pandemic.
Fact.MR estimates a speedy recovery of the two component adhesives market, owing to rising investments in the construction and automotive sectors by governments.
Two Component Adhesives Market - Scope of Report
A recent study by Fact.MR on the two component adhesives market offers a 10-year forecast for 2020 and 2030. The study analyzes crucial trends that are currently determining the growth of the two component adhesives market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders. The study also provides the dynamics that are responsible for influencing the future status of the two component adhesives market over the forecast period.
A detailed assessment of two component adhesives value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the two component adhesives market along with their product portfolios enhances the reliability of this comprehensive research study.
Two Component Adhesives Market: Report Summary
The study offers a comprehensive analysis on diverse features, including demand, product developments, revenue generation, and sales in the two component adhesives market across the globe.
A comprehensive estimate on the two component adhesives market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of two component adhesives during the forecast period. Price point comparison by region with global average price is also considered in the study.
Two Component Adhesives Market: Segmentation
Fact.MR has studied the two component adhesives market with detailed segmentation on the basis of by resin type, application and key region.
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Key Questions Answered in Fact.MR’s Two Component Adhesives Market Report
- Which regions will continue to remain the most profitable regional markets for two component adhesives market players?
- Which factors will induce a change in the demand for two component adhesives during the assessment period?
- How will changing trends impact the two component adhesives market?
- How can market players capture the low-hanging opportunities in the two component adhesives market in developed regions?
- Which companies are leading the two component adhesives market?
- What are the winning strategies of stakeholders in the two component adhesives market to upscale their position in this landscape?
Two Component Adhesives Market: Research Methodology
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the two component adhesives market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the two component adhesives market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the two component adhesives market report as a primary resource.
Two Component Adhesives Market: Analysis on Market Size Evaluation
The two component adhesives market has been analyzed for each market segment in terms of value (US$ Mn).
Market estimates at global and regional levels for two component adhesives are available in terms of “US$ Mn” for value. A Y-o-Y growth contrast on prominent two component adhesives market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global two component adhesives market.
Two Component Adhesives Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the two component adhesives market report, which have helped deliver projections on regional markets. These chapters include regional macros (political economic and business environment outlook), which are expected to have a momentous influence on the growth of the two component adhesives market during the forecast period.
Country-specific valuation on demand for two component adhesives has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value and volume for emerging countries has also been included in the report.
Two Component Adhesives Market: In-depth Analysis on Competitive Landscape
The report sheds light on the leading manufacturers of two component adhesives, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the production of two component adhesives has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolio and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status and predicting the competition level in two component adhesives market. Prominent companies operating in the global two component adhesives market include 3M Company, BASF SE, Bostik AB, DowDuPont, Inc., H.B. Fuller, Henkel AG & Co. KGaA, Huntsman Corporation, Master Bond, Inc., and Sika A.G., among others.
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Two Component Adhesives Market Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2020 to 2030