Analysis of Composite Adhesives Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The value of the global composite adhesives market is US$ 3.7 billion in 2023, which is estimated to increase at a CAGR of 5.5% to end up at US$ 6.3 billion by 2033.
Composite adhesives are substances that are used to adhere composites to each other and various other substrates. These products are available in different forms, including film, paste, and liquid. Adhesives are segmented into categories based on the count of components.
These components consist of a hardener and a resin that are capable to cure at high temperatures or room temperatures. Further, one-mix adhesives are limited to cure at high temperatures (generally 250-300°F). Composite adhesives ensure the delivery of unrivaled performance and mechanical strength even exposed to harsh environments.
Polyurethane adhesives are gaining popularity in marine applications as they can bond in high-moisture environments. Furthermore, these types of adhesives have low VOC content, strong UV resistance, and excellent bonding with various non-porous materials, such as wood.
Epoxy adhesives can bond with various types of substrates. In addition, these adhesives also ensure excellent strength and durability with low shrinkage. They are resistant to weather, heat, electrical insulation, and chemicals. Strong thermoplastic with impactful resistance to peel and shear coupled with high adhesion, and faster cure are some noticeable merits of methyl methacrylate adhesives.
Composite adhesives are gaining popularity across different end-use sectors. This traction is owing to adhesives’ ease of manufacturing, low cost, and high strength-to-weight ratio.
Industry players are investing at an increased rate in various research and development activities for product innovation and development.
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Composite Adhesives Market Size (2023)
US$ 3.7 Billion
Forecasted Market Value (2033)
US$ 6.3 Billion
Estimated Market Growth Rate (2023-2033)
Canada Market Growth Rate (2023-2033)
Germany Market Growth Rate (2023-2033)
Key Companies Profiled
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“Expansion of Aerospace Industry Driving Market Opportunities”
Composite adhesives are gaining popularity in the aerospace sector due to their growing use in the manufacturing of multiple lightweight aircraft components. These composites generally consist of a reinforcement and a matrix and come with exceptional lightweight properties.
The growing production of aircraft in recent years is contributing to increased demand for composite adhesives.
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Thus, the increasing count of aircraft around the world is projected to boost the application of composites and thus drive growth opportunities in the global market.
“Booming Automotive Industry Stimulating Composite Demand”
The automotive sector is contributing to the composite adhesives market growth because of the rising implementation of solutions to manufacturing lightweight vehicle parts. In addition, these adhesives are also used to attain higher fuel efficiency. Significant growth in the automotive industry due to growing production as well as sales of vehicles is projected to generate lucrative opportunities for industry players.
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Thus, this massive boost across the automobile industry is predicted to stimulate the use of various composites and thus contribute to their increased demand.
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“Stringent Environmental Regulations Expected to Limit Product Adoption”
Composite adhesives are a crucial part of the assembly and joining procedure across different industries. However, government regulations are implemented for the monitoring of these materials in case any harmful chemicals are used in the manufacturing process.
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Continuous monitoring along with the implementation of stringent regulations are predicted to hamper the expansion opportunities in the global composite adhesives market.
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“Increasing Requirements for Composite-based Products in Asia Pacific”
Asia Pacific is forecasted to hold more than 48% of the share of the market revenue during the forecast period. The rising requirements for composite-based products in construction, aerospace & defense, renewables, and EVs industries are estimated to bolster demand for composite adhesives in the coming years.
The rising demand for adhesives across end-use industries, including electronics and automotive pushed prominent players to invest in the regional industry.
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“Growing Demand for Composite Adhesives from Various Industries”
Sales of composite adhesives in Japan are expected to progress at a CAGR of 3.6% through 2033. The growth opportunities are attributed to the growing demand for these adhesives across different industries, including renewables, EVs, construction, and others.
“Rising Emphasis on Using Lightweight Composite Materials in Aircraft”
The anticipated CAGR of the market in Germany is 4.3% from 2023 to 2033. The manufacturers of aircraft are increasing their emphasis to use lightweight composite materials that can fuel demand for these adhesives. For this, various companies from Germany are entering into collaborations to fulfill the requirements of the respective industry.
“Increasing Demand for Composite Adhesives for Production of EVs & Electronics”
People from the U.S. are spending a handsome amount on different lifestyle products. So, there is a significant increase in the production of electronics and EVs that can lead to rising demand for composite adhesives in respective industries. Further, aircraft manufacturers from the U.S. are also using composite adhesives that can stimulate their sales.
The demand for composite adhesives in the U.S. market was valued at more than US$ 840 million in 2022. Further, the sales of these adhesives in Canada are estimated to advance at a CAGR of 4.6 % from 2023 to 2033.
“Multiple Beneficial Characteristics of Epoxy Adhesives Stimulating Their Sales”
Epoxy, polyurethane, acrylic, cyanoacrylate, and others are segments of the global industry, based on type. Epoxy held more than 35% of the share of the market revenue in the year 2022. These adhesives are used widely due to their benefits, for instance, cryogenic resistance, low shrinkage, and high-temperature resistance. Moreover, these products are used at an increased rate owing to their mechanical shock resistance, durability, high strength, and low cost.
The acrylic adhesives are also predicted to grow at a noteworthy rate in the coming years. This product is applied for adhesion in different semi-rigid and rigid bonding applications across the medical and automotive industries. It ensures high peel strength and high-strength bonds to various composites.
There are a lot of industries around the world that prefer to use acrylic adhesives due to their characteristics, including acid & solvent resistance and fast curing time.
“Leading Position of Aerospace & Defense with Increased Deployment of Adhesives”
The global market is classified into automotive & transportation, aerospace & defense, electrical & electronics, construction, and others, based on end use.
Among these, aerospace & defense accounted for a noticeable share of market revenue that is more than 18% in 2022 based on application. Deployment of these adhesives in aerospace & defense is helpful in cost management, reduces weight, and increases assembly productivity, as the majority of aircraft parts use these materials.
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The automotive sector is expected to hold the second-largest market share based on revenue in the year 2022. Adhesives are penetrating the industry because of the growing trend toward lightweight vehicles. Automotive companies have been inclined toward the incorporation of multiple composites in recent years.
Based on the rising demand for composite adhesives, market players are investing at an increased rate to expand their manufacturing units. They are also entering into mergers & acquisitions for their business expansion.
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Prominent players in the global composite adhesives market are Ashland Inc., Dymax Corporation, The DOW Chemical Company, Engineered Bonding Solutions, Huntsman Corporation, Master Bond Inc., Royal Adhesives & Sealants, LLC, and Scott Bader Company Ltd.
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The value of the composite adhesives market is US$ 3.7 billion in 2023.
The market for composite adhesives is expected to reach a value of US$ 6.3 billion by 2033-end.
The global composite adhesives market is predicted to register 5.5% CAGR through 2033.
Asia Pacific is predicted to hold more than 46% revenue share of the global market.
Ashland Inc., Dymax Corporation, The DOW Chemical Company, Engineered Bonding Solutions, Huntsman Corporation, and Royal Adhesives & Sealants, LLC are leading producers of composite adhesives.
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