Composite Adhesives Market to Grow with a CAGR of 4.07% through 2028
Increasing
demand for lightweight and strong materials and rising demand from end-use
industries are factors driving the Global Composite Adhesives Market in the
forecast period 2024-2028
According to
TechSci Research report, “Composite Adhesives Market – Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”, the
Global Composite Adhesives Market has valued at USD 3.13 billion in 2022 and is
anticipated to project robust growth in the forecast period with a CAGR of
4.07% through 2028.
Technological
advancements have been instrumental in driving the growth of the global
composite adhesives market, transforming the landscape of adhesive solutions
for composite materials used in industries such as aerospace, automotive,
construction, and wind energy.
One of the most
notable advancements is the development of high-performance composite adhesives
with enhanced properties. These adhesives are engineered to deliver exceptional
strength, durability, and resistance to extreme conditions. They are designed to
bond a wide range of composite materials, including carbon fiber reinforced
composites, fiberglass, and aramid-based composites, ensuring compatibility
with the diverse needs of various industries.
Furthermore, the
evolution of nanotechnology has significantly impacted the composite adhesives
sector. Nanomaterials, such as nanoparticles and nanotubes, are being
incorporated into adhesive formulations to improve mechanical properties,
thermal stability, and flame resistance. These innovations enable the
production of lightweight yet robust composite structures, reducing weight and
enhancing fuel efficiency in applications like aerospace and automotive.
Another key
technological advancement is the development of fast-curing composite
adhesives. Traditional adhesives often require lengthy curing times, limiting
production efficiency. However, rapid-curing formulations have emerged,
enabling quicker assembly and reducing downtime. This is crucial in industries
where time-sensitive production processes are essential, such as automotive
manufacturing.
In addition, the
integration of smart technologies and sensors within composite adhesives has
gained traction. These "smart adhesives" can provide real-time
monitoring of structural integrity and health, offering predictive maintenance
capabilities in applications like wind turbine blade bonding and aircraft
composites. This innovation enhances safety and extends the lifespan of
composite structures.
Furthermore,
green and sustainable composite adhesive solutions are increasingly sought
after. Bio-based and eco-friendly adhesives are being developed to meet
environmental regulations and reduce the carbon footprint of composite
materials. These adhesive formulations are biodegradable and emit fewer harmful
volatile organic compounds (VOCs), aligning with the growing global emphasis on
sustainability.
In conclusion,
technological advancements are driving the growth of the global composite
adhesives market by improving performance, curing times, and sustainability
while enabling the development of smart adhesive solutions. As industries
continue to demand lightweight and durable composite structures, the market is
poised to expand further through ongoing innovations in adhesive technology.
This growth will support the increasing adoption of composites in various
applications, offering solutions that are both efficient and environmentally
responsible.
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"Global Composite Adhesives Market”
The Global
Composite Adhesives Market is segmented into products, end user, regional
distribution, and company.
Based on the
Product, the epoxy segment emerged as
the dominant player in the global market for Composite Epoxy adhesives are
widely used because they are low-cost, strong, durable, and resistant to
mechanical shock, high temperatures, low shrinkage, and cryogenic temperatures.
Acrylic
adhesives are expected to grow faster as they are used to bond rigid and
semi-rigid materials in the automotive and medical industries. They provide
strong bonds to composites and have high peel strength. They are also
fast-curing and resistant to acids and solvents.
Asia Pacific
region emerged as the dominant player in the global composite adhesives market
in 2022, holding the largest market share in terms of both value and volume.
The growing demand for adhesives from the automotive and electronics industries
has led to major players investing in the Asia Pacific region. For example, in
May 2021, Henkel AG & Co. KGaA invested USD 77.58 million to set up a
dedicated adhesive Asia Pacific innovation center in Shanghai, China. The
center will develop high-quality adhesives for consumers in the Asia Pacific
region.
North America is
expected to register the fastest revenue growth in the adhesives market over
the forecast period. This is due to the increasing focus on the production of
electric vehicles (EVs), aircraft, and electronics in the region. For example,
in November 2021, Tesla Inc. announced plans to establish a new factory to
produce battery manufacturing equipment in Canada. EV battery packs use a wide
variety of adhesives in their production.
Europe accounted
for the second-largest revenue share of the global adhesives market in 2021.
The emphasis on using lightweight composite materials in aircraft is expected
to benefit market growth over the forecast period. For example, in February
2022, the Netherlands-based Venturi Aviation partnered with Airborne, a company
that offers solutions for advanced composites, to use lightweight structures
for an all-electric commuter aircraft.
Major companies
operating in Global Composite Adhesives Market are:
- 3M Company
- Ashland Inc.
- Bostik SA
- Delo Industrial Adhesives, LLC
- Dymax Corporation
- Engineered Bonding Solutions, LLC
- H.B. Fuller
- Henkel AG & Co. KGaA
- Hernon Manufacturing, Inc.
- Hexcel Corporation
- Huntsman Corporation
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“The Global
Composite Adhesives Market has witnessed robust growth in recent years. This
growth can be attributed to several key factors. First and foremost, the
increasing demand for lightweight materials in industries such as aerospace,
automotive, and construction has driven the adoption of composite materials,
which, in turn, has boosted the demand for composite adhesives. These adhesives
offer superior bonding strength and durability, making them essential for
joining composite materials effectively.
Furthermore,
advancements in adhesive technologies, including the development of
high-performance adhesives with enhanced properties, have expanded their
application areas. Manufacturers are focusing on creating adhesives that can
withstand extreme temperatures, provide excellent chemical resistance, and
offer rapid curing times, catering to diverse industry needs.
Moreover,
sustainability concerns and environmental regulations have prompted a shift
towards eco-friendly adhesives, which has fueled research and development
efforts in this market segment. As industries continue to seek innovative
solutions for their bonding needs, the Global Composite Adhesives Market is
expected to maintain its growth trajectory in the coming years,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Composite
Adhesives Market- Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028 Segmented by Product (Epoxy, Polyurethane, Acrylic,
Cyanoacrylate and Other), By End User (Automotive & Transportation,
Aerospace & Defense, Electrical & Electronics, Construction, and
Others), By Region and competition”,
has evaluated the future growth potential of Global Composite 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 Composite Adhesives Market.
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