Moisture Curing Adhesives Market to Grow with a CAGR of 6.84% through 2028
Increased
construction activities and rising demand from the automotive industries are
factors driving the Global Moisture Curing Adhesives market in the forecast
period 2024-2028
According to
TechSci Research report, “Moisture Curing Adhesives Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”,
the Global Moisture Curing Adhesives Market has valued at USD 4.85 billion in
2022 and is anticipated to project robust growth in the forecast period with a
CAGR of 6.84% through 2028
The global
Moisture Curing Adhesives market has witnessed several noteworthy developments
in recent years, reshaping the landscape and driving growth within the
industry. These developments can be categorized into key trends and
technological advancements.
One
of the most prominent recent trends in the Moisture Curing Adhesives market is
the increasing emphasis on sustainability. Manufacturers are now focusing on
developing eco-friendly adhesive formulations that reduce environmental impact.
These adhesives are free from volatile organic compounds (VOCs) and hazardous
chemicals, aligning with global efforts to minimize carbon footprints. As
environmental regulations become more stringent, the adoption of such adhesives
is expected to rise significantly.
The
construction industry has emerged as a major driver of growth in the moisture
curing adhesives market. These adhesives are extensively used in construction applications,
such as bonding flooring materials, sealing joints, and adhering insulation
panels. The rapid urbanization and infrastructure development projects in
emerging economies are contributing to increased demand for moisture curing
adhesives, as they offer superior bonding strength and durability in
construction applications.
Technological
advancements have led to the development of moisture curing adhesives with
enhanced performance characteristics. These adhesives now exhibit improved
flexibility, adhesion, and resistance to harsh environmental conditions.
Moreover, innovations in moisture-cured adhesive chemistry have resulted in
products with faster curing times, reducing production cycle times and
increasing efficiency for manufacturers.
The
automotive industry is another significant segment experiencing growth in the
use of moisture curing adhesives. These adhesives are increasingly replacing
traditional welding and mechanical fasteners in automotive assembly due to
their lightweight properties and the ability to create stronger bonds. This
shift towards adhesive bonding in automotive manufacturing is driven by the
need to reduce vehicle weight and enhance fuel efficiency.
The
moisture curing adhesives market is expanding into emerging economies, particularly
in Asia-Pacific. The rapid industrialization and infrastructure development in
countries like China and India are creating substantial opportunities for
market growth. Additionally, increasing consumer awareness of the benefits of
moisture curing adhesives is driving demand in these regions.
In
conclusion, the global Moisture Curing Adhesives market is witnessing
significant developments driven by sustainability concerns, increased adoption
in construction and automotive sectors, performance improvements, and expansion
into emerging markets. These developments are poised to shape the industry's
trajectory in the coming years, with sustainability and innovation at the
forefront of market dynamics.
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The Global Moisture
Curing Adhesives Market is segmented into chemistry, application, regional
distribution, and company.
Based on the chemistry, The Construction segment is projected to
experience rapid growth during the forecast period. The construction industry
is often a significant driver of economic activity in many regions. It
encompasses residential, commercial, and infrastructure projects. Construction
may include contracts, project management, and materials procurement. Depending
on the economic climate and infrastructure development in a particular region,
the construction segment could dominate the market.
The Asia-Pacific
region is poised to be the dominant market for moisture curing adhesives in the
foreseeable future, primarily due to the surge in demand driven by the
construction industry in countries like India and China.
The substantial
investments in infrastructure projects from countries such as China and India
are anticipated to be key drivers for this market. According to the National
Development and Reform Commission, the Chinese government greenlit 26
infrastructure projects with an estimated investment of around USD 142 billion
in 2019, with expected completion by 2023. Additionally, the Indian government
allocated USD 63 billion to the infrastructure sector in 2019-20 and has
ambitious plans to invest USD 1.4 trillion over the next five years.
Initiatives like the development of smart cities and programs such as
"housing for all" are set to further boost the demand for moisture
curing adhesives within the construction industry.
Moisture curing
adhesives find extensive use in solid wood plank and engineered wood
applications within both the commercial and residential sectors. They offer
exceptional bond strength and extend working time, making them indispensable.
The growing furniture industry and the increased demand for wooden flooring are
expected to be significant drivers for this market. According to a World Bank
report, the Indian furniture industry was projected to surpass USD 32 billion
by 2019 and is estimated to maintain a growth rate of 20% per annum in the
coming years.
These
aforementioned factors, combined with government backing and support, are
collectively contributing to the escalating demand for moisture curing
adhesives in the Asia-Pacific region throughout the forecast period.
Major companies
operating in Global Moisture Curing Adhesives Market are:
- 3M Company
- Advatac Ltd.
- Apollo Chemicals Ltd.
- Bostik SA
- Daubert Chemical Co., Inc.
- Delo Industrial Adhesives LLC
- Dow, Inc.
- DuPont de Nemours, Inc.
- Dymax Corporation
- Franklin International, Inc.
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“The global
Moisture Curing Adhesives market has been experiencing significant growth in
recent years. Moisture curing adhesives are a type of adhesive that cure and
bond when exposed to moisture in the air, making them versatile and suitable
for various applications.
This growth can
be attributed to several key factors. Firstly, increasing demand from
industries such as construction, automotive, and electronics has been a major
driver. These adhesives offer strong bonding capabilities, resistance to
environmental factors, and durability, making them ideal for joining materials
in these sectors.
Additionally,
the growing trend towards lightweight and eco-friendly materials in
manufacturing processes has boosted the adoption of moisture curing adhesives.
They contribute to weight reduction and offer environmentally friendly
alternatives to traditional bonding methods.
Furthermore,
ongoing research and development efforts have led to innovations in moisture
curing adhesive formulations, enhancing their performance characteristics and
expanding their applications,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“Moisture
Curing Adhesives Market- Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028 Segmented By Chemistry (Polyurethane, Silicone,
Cyanoacrylate and Polyolefin), By Application (Construction, Automotive, Wood
Working, Textile, and Others), By Region and competition”,
has evaluated the future growth potential of Global Moisture Curing Adhesives
Market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Moisture Curing
Adhesives Market.
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