Composite Adhesives Market

Composite Adhesives Market Size-(2023-2028)

The Composite Adhesives Market is expected to grow to 4.8 billion USD by 2028 with a CAGR of over 9% in the outlook period of 2023-2028

Drivers and Restraints of the Global Composite Adhesives Market

The stringent policies regarding the environment have made it difficult for plastics and opened doors for the growth of the composite adhesives market in various regions. PE-base composite adhesives are the highest contributor in the North American region, thus PE-based composites add to the overall growth of the industry.

The usage of composite adhesives in aerospace and wind energy turbines is growing, and these options are often come cheap as compared to their counterparts which help in the growth of the industry. Epoxy resins provide excellent characteristics for composite adhesives. In terms of application, these are extensively in protective coating applications. They play vital roles in various industries including power and chemical & petrochemical, among which power industry is one of the major consumers of epoxy resins. The composite adhesives market industry is affected by volatile price and alternatives. The concentration of the market in a few regions is hampering the rapid expansion of this industry in other parts of the world.

COMPOSITE ADHESIVES MARKET REPORT COVERAGE:

Market Segmentation:

Composite Adhesives Market - Resin Type:

• Epoxy Resins

• Polyurethane

On the basis of resin, the Epoxy resin segment is the largest. Improvement and large investments in healthcare facilities are important factors in improving the demand. Epoxy resins can also be used as a protective coating for industrial flooring. These resins come with reinforced polymers that are made up of composite adhesives derived from petroleum sources. They are known to offer enhanced strength and durability, along with resistance to chemicals, increasing their preference in the industrial segment.

Composite Adhesives Market - By Components:

• One-Component

• Two-Component

Composite Adhesives Market - By End-use:

• Automotive & Transportation

• Wind Energy

• Marine

• Aerospace

The automotive and transportation industry has the largest share in the composite adhesives market in terms of volume. This is because various industries have to comply with the Corporate average fuel efficiency (CAFE) standards and minimize Carbon-di-Oxide emissions. The aerospace industry is rapidly growing and triggering high demands for lightweight and rigid materials.  Wind energy provides an eco-friendly alternative to the existing power sector. Many regions in Europe are adopting the wind energy model and thus the demand for composite adhesives has increased rapidly in the past decade. Countries such as Denmark, Switzerland, Norway, and a few other Scandinavian countries have invested heavily in the wind energy sector to meet their power needs.

Composite Adhesives Market - By Region

• North America

• Latin America

• Europe

• AsiaPacific

• Middle East & Africa

North America is one of the largest markets for the Composite Adhesives market industry thanks to the huge investments in the pharmaceutical sector. The USA has invested a lot in healthcare facilities. The Aerospace industry in North America is one of the biggest in the world, and it is consistently driving various industries including composite adhesives.

Germany has invested a lot in their automotive and wind energy industries, and this has led to an increase in demand for the composite adhesives market. European regulations are forcing OEMs to reduce the emissions of CO2 by vehicles, and further regulations are expected towards fuel products in the coming years.

Recent Developments

• In July 2020, Dow introduced sustainable packaging in the form of INNATE TF polyethylene resins for Biaxial orientation. This answers the industrial questions regarding high performance.

• ACM Technologies opened a new state-of-the-art Composite adhesives market resin regeneration facility in Gardena, CA in the South Bay section of Los Angeles. This new plant enables customers in the west coast to send in their spent composite adhesives market resins for regeneration and subsequent reuse improving the supply chain of the products.

Composite adhesives market Key players:

1. Henkel AG

2. 3M

3. Sika AG

4. Huntsman

5. ResinTech Inc.