Composite Adhesive Market Size to Cross USD 6.14 Bn by 2033

The global composite adhesive market size is expected to increase USD 6.14 billion by 2033 from USD 3.68 billion in 2023 with a CAGR of 5.26% between 2024 and 2033.
Key Points

  • Asia-Pacific dominated the market with the largest market share of 49% in 2023.
  • North America is expected to be the fastest-growing region over the projected period.
  • By product, the epoxy segment has contributed more than 37% of market share in 2023.
  • By product, the polyurethane segment is expected to witness significant growth over the forecast period.
  • By application, the aerospace and defense segment has held the largest market share of 19% in 2023.
  • The automotive segment is likely to grow significantly in the upcoming years.
Composite Adhesive Market Size 2024 to 2033
The composite adhesive market is a thriving sector within the broader adhesives industry, characterized by the use of adhesive materials in composite materials manufacturing. Composite adhesives play a crucial role in joining various components together in composite structures, offering superior bonding strength, durability, and resistance to environmental factors. These adhesives find extensive applications across industries such as aerospace, automotive, construction, marine, and wind energy, among others. The market for composite adhesives has witnessed significant growth in recent years, driven by the increasing demand for lightweight and high-performance materials in various end-use sectors.

Get a Sample: https://www.precedenceresearch.com/sample/4037

Growth Factors:

Several factors contribute to the growth of the composite adhesive market. One of the primary drivers is the rising adoption of composite materials in lightweight and fuel-efficient applications across industries. Composite adhesives enable the efficient bonding of different materials, contributing to the overall lightweight construction of vehicles, aircraft, and structures. Moreover, the growing focus on sustainability and environmental regulations has propelled the demand for composite materials, further driving the market for composite adhesives. Additionally, advancements in adhesive technologies, such as the development of high-performance epoxy and polyurethane adhesives, have expanded the application scope of composite adhesives, fueling market growth.

Region Insights:

The composite adhesive market exhibits a global presence, with significant growth observed across various regions. North America and Europe are key markets for composite adhesives, driven by the presence of established aerospace and automotive industries. These regions are characterized by extensive research and development activities, leading to continuous product innovations and technological advancements in adhesive formulations. Asia-Pacific emerges as a lucrative market for composite adhesives, fueled by rapid industrialization, infrastructure development, and increasing investments in aerospace and automotive sectors. Countries like China, India, and Japan are witnessing robust growth in demand for composite adhesives, supported by expanding manufacturing activities and rising consumer preferences for lightweight materials.

Composite Adhesive Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 5.26%
Global Market Size in 2023 USD 3.68 Billion
Global Market Size by 2033 USD 6.14 Billion
Largest Market Asia Pacific
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Product and By Applications
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Composite Adhesive Market Dynamics

Drivers:

Several drivers contribute to the growth of the composite adhesive market. The automotive industry’s shift towards lightweight materials to improve fuel efficiency and reduce emissions is a significant driver. Composite adhesives play a crucial role in bonding lightweight materials such as carbon fiber composites and aluminum, facilitating the production of fuel-efficient vehicles. In the aerospace sector, the demand for composite adhesives is driven by the need for lightweight materials to enhance aircraft performance and reduce operating costs. Additionally, the construction industry’s focus on energy-efficient and sustainable building materials has led to increased adoption of composite adhesives in building and infrastructure projects.

Opportunities:

The composite adhesive market presents several opportunities for growth and expansion. One notable opportunity lies in the development of bio-based and sustainable adhesive formulations to meet growing environmental concerns and regulatory requirements. Manufacturers are increasingly focusing on the development of adhesives derived from renewable sources such as plant-based resins, which offer comparable performance to traditional adhesives while reducing carbon footprint. Moreover, the growing demand for composite materials in emerging sectors such as renewable energy and electric vehicles presents significant opportunities for market players to expand their product offerings and cater to evolving industry requirements.

Challenges:

Despite the favorable growth prospects, the composite adhesive market faces several challenges that need to be addressed. One of the key challenges is the high cost associated with advanced composite adhesives, which may limit their adoption, particularly in cost-sensitive industries. Moreover, ensuring compatibility and durability of adhesives with different composite materials remains a challenge for manufacturers, requiring continuous research and development efforts. Additionally, stringent regulatory requirements regarding emissions, toxicity, and health hazards pose challenges for the formulation and use of composite adhesives, necessitating compliance with various environmental and safety standards.

Read Also: Modular Construction Market Size to Attain USD 201.31 Bn by 2033

Recent Developments

  • In February 2023, Henkel AG & Co. KGaA announced a collaboration with the International Centre for Industrial Transformation’s participation program. The business’s adhesive technologies business department wants to employ INCIT’s tools and frameworks to accelerate its processes’ digital transformation by joining INCIT’s partner network.
  • In March 2022, 3M, a diversified technology business, introduced their new Scotch-Weld Multi-Material Composite Urethane Adhesive DP6310NS. This glue is intended to attach a variety of composite components and has good impact resistance and durability.
  • In February 2022, Arkema completed its acquisition of Ashland’s Performance Adhesives division. Structural adhesives are among the products available in this area. The acquisition was worth USD 1.65 billion. The acquisition bolstered Arkema’s Adhesive Solutions sector and was in line with the company’s objective of becoming a pure specialty material provider by 2024.

Composite Adhesive Market Companies

  • 3M
  • Bostik
  • Dow
  • Henkel AG & Co. KGaA
  • H.B. Fuller
  • Huntsman International LLC.
  • Illinois Tool Works Inc.
  • Permabond LLC
  • Parker Hannifin Corp
  • Sika AG

Segments Covered in the Report

By Product

  • Acrylic
  • Epoxy
  • Polyurethane
  • Cyanoacrylate
  • Others

By Applications

  • Automotive & Transportation
  • Aerospace & Defense
  • Electrical & Electronics
  • Construction & Infrastructure
  • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Contact Us:

Mr. Alex

Sales Manager

Call: +1 9197 992 333

Email: sales@precedenceresearch.com

Web: https://www.precedenceresearch.com

Blog: https://www.expresswebwire.com/

Blog: https://www.uswebwire.com/

Blog: https://www.dailytechbulletin.com/

Blog: https://www.autoindustrybulletin.com/

Leave a Reply

Your email address will not be published. Required fields are marked *