Marine Adhesives Market

Marine Adhesives Market Size-(2023-2028):

The Marine Adhesives Market size was valued to be USD 418.4 million in 2022 and is anticipated to reach USD 481.7 million in 2028, with a CAGR of 5.1% over the forecast period 2023-2028

Marine adhesives are the mechanical seal that blocks the passage of fluids. It is also known as a sealant which is a mixture of substances that obstruct the flow of fluids between joined surfaces or openings in materials. Marine adhesives are used in construction, glass bonding, commercial boat building, decorative and yacht applications, and in the construction of inflatable boats for military or recreational use. These adhesives are very durable and have good flexibility which makes them easy to use they are also used for rivets and welds outside of traditional methods due to better performance. Marine adhesives are marine adhesives which are sealants, which provide a high bond strength between materials. Provides high resistance to UV rays, and elasticity, and absorbs vibrations. Marine adhesives are very effective when exposed to moisture and water. Growing environmental concerns and regulatory policies and the increasing use of green products in various applications. Marine adhesives are widely used in the construction or repair of ships, including commercial ships, pleasure craft, yachts, cruise ships, and ferries. The market for marine adhesives is growing as these adhesives are an indispensable part of marine vessels that are used to maintain the safety, stability, and capacity of the boat and are influenced by the standards of the adhesives applied. The central importance of these marine adhesives is to offer durability, stability, strength, and weather resistance for the joints between the deck and spider hulls, teak wood and man-made decks, portholes and windows, and inflatables. There are several marine adhesives that differ in their temperature ranges; these could be used within the indicated temperature range which could be used between various applications, such qualities of these adhesives limit the growth of the marine adhesives market.

MARINE ADHESIVES MARKET REPORT COVERAGE:

Marine Adhesives Market Trends:

There is an increasing demand for marine adhesives for general purpose and glass bonding, deck-to-hull bonding as well as wood deck caulking and bonding of interior and exterior decorative panels that support the growth of the marine adhesives market. The growing demand for submarines and military vessels for naval security forces is the major reason driving the growth of the marine adhesives market.

Recent Developments in the Marine Adhesives Industry:

• In Oct 2020, Pettitlaunched three special simplified solutions for boaters, manufacturers, and boatyards. Excessive time applicators are misled by the composite and confusing offerings in the marketplace and select the wrong product that doesn't actually suit their needs or are locked into using 30-year-old technology that has limitations.
• In April 2020, Hexcel is glad to release the launch of its latest low-temperature quick cure HexBond™ 679 adhesive film.

Marine Adhesives Market Drivers:

The market call for marine adhesives is anticipated to escalate as they are utilized in marine applications. There is a good drop in the marine adhesives market. The reason for this market growth is its strong adhesion between materials, its resistance to UV rays, its elasticity, its ability to absorb vibrations and shocks, and its great affinity with paints, which are some of the advantages obtained with the adoption of marine adhesive products. The market for marine adhesives is growing significantly due to their unique properties as they are highly compatible with various environmental conditions including exposure to moisture and water. The enormous utility of marine adhesives for bonding metal, composite and plastic surfaces is expected to drive market growth in the coming years. Apart from this, a notable increase in the popularity of modified passenger ships will support the expansion of the industry in the years to come. The massive popularity of underwater adventure sports activities coupled with an increase in spending on modification activities will see the use of marine adhesives proliferate in the shipping industry for years to come. In addition to this, the large-scale use of polyurethane adhesives for various bonding purposes will proliferate the expansion of the marine adhesives industry over the time of evaluation. However, a large number of marine adhesives have a specific temperature range and can only be used within that temperature range, which is likely to create obstacles in the way of market growth in the years to come.

Marine Adhesives Restraints:

There are several marine adhesives that differ in their temperature ranges; these could be used within the indicated temperature range which could be used between various applications, such qualities of these adhesives limit the growth of the marine adhesives market.

Opportunities in the Marine Adhesives Market:

The growth of underwater adventure sports coupled with increased spending on modification activities were two key factors that ultimately drove the demand for the use of marine adhesives for boats. Another polyurethane segment dominates the marine adhesives market. The increasing application of polyurethane adhesives for different bonding purposes, such as deck-to-hull bonding, glass bonding, and bonding of deck hardware or decorative panels, has further contributed to the growing market demand for adhesive sailors. Customers all over the world are experiencing a substantial increase in their spending on leisure and leisure activities which are contributing to the growth of the marine adhesives market globally. The maritime tourism market is experiencing a substantial rise which contributes significantly to the demand for recreational boating, so the marine adhesives market is growing at a good rate.

Challenges in the Marine Adhesives Market:

Economic downturn along with growing uncertainties regarding shipbuilding regulations for imports and exports may challenge the industry's growth

Marine Adhesives Market Segmentation:

Based on Resin Type:

• Epoxy
• Polyurethane
• Acrylic
• Others

Based on Substrate Type:

• Metals

• Composites

• Plastics

• Others

Based on Vessel:

• Cargo

• Passenger

• Boats

• Others

Based on Application:

• Deck Systems

• Glazing

• Panel Bonding

• Others

Marine Adhesives Regional Analysis:

The Marine Adhesives Market Report includes the segmentation of Regions

• North America 

• Europe 

• Asia Pacific

• Latin America 

• Middle East & Africa 

The Marine Adhesives Market is believed to be the leader among other regions of the world. Therefore, marine adhesives are widely used in this region due to the presence of a large number of marine vessel manufacturing facilities in the Asia-Pacific region. In addition, marine adhesives are widely applied in various types of ships which might be of greater importance in various industrial freight and passenger transport in countries. The organizations that manufacture the ships are moving to the Asia-Pacific region to reduce the cost of ship production activities. Such a significant change in the seagoing vessel industry in this region has been attributed to the increase in the application of marine adhesives and has a huge impact on the development of this industry. Governments in this region are also becoming liberal in their international trade and trade policies, which has contributed to the improvement of the seagoing ship manufacturing industry. There is a great transformation of the political scene of these nations in favor of international trade which explains the growth of the marine adhesives market during the forecast period. The Asia Pacific is expected to be the fastest-growing market for marine adhesives, due to fast-growing economies such as China and the Philippines in the region. Several companies in the market are moving their production bases to Asia-Pacific, due to the low cost of production and the ease of serving emerging local markets. The global shipbuilding industry is expected to be led by Asia-Pacific and especially China, South Korea, and Japan due to lower wages, strong government support, and strong link industries to go -return.

Marine Adhesives Market Key Players:

• Henkel (Germany), 3M (U.S.)

• Sika (Switzerland), ITW (U.S.)

• Huntsman (U.S.)

• H.B. Fuller (U.S.)

• Ashland (U.S.)

• Bostik (France)

• LORD Corporation (U.S.)

• Scott Bader (U.K.)

• MAPEI (Italy)

• Permabond (U.K.)