One component composite adhesives industry should surpass USD 800 million by 2024. Growing demand for one-component adhesives in all clean energy sectors due to its ease of application.

Ocean View, DE -- (SBWire) -- 05/14/2020 --Global Composite Adhesives Market size was estimated at USD 1.4 billion in 2016 and is projected to surpass USD 2 Billion by the year 2024.

The last decade has witnessed an increased use of composites in structural applications, that has paved the way for composite adhesives market in the construction domain. Particularly in the aerospace and automotive sectors, composite materials are prominently used for achieving higher fuel efficiency and better strength. On these grounds, numerous composite adhesives industry players have been striving to develop highly advanced and effective adhesive solutions for structural composite materials.

In fact, they are mainly focusing on developing products having non-VOC content. In this regard, it is also important to mention that myriad regional governments have also framed stringent regulatory norms to reduce VOC content in environment. In consequence, companies have been aggressively spending capital on extensive research and development activities, which are likely to stimulate composite adhesives market outlook in the ensuing years. For the record, in 2016, overall composite adhesives industry collected a revenue of USD 1.4 billion.

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Customization has now occupied a prominent position in most industries. In order to obtain customized adhesive solutions, many automakers have been inking collaborations with core composite adhesive suppliers.

Citing yet another recent instance, at JEC World 2018, Huntsman, one of the eminent composite adhesives market players, revealed its advanced portfolio of composites and adhesives for lightweight applications in numerous sectors. The firm also showcased its high-performance solutions for all aerospace and automotive applications – right from carbon hybrid composite wheels to the frame of a popular racing car. Incidentally, since the last six years, Huntsman has been collaborating with leading behemoths in the aerospace sector to establish wide range of processes and solutions in composite adhesives industry.

Growth Drivers are –

- Asia Pacific: Increasing application of composite adhesives in lightweight construction structures
- North America: Design advantage of composites in aerospace & wind energy
- North America: Stringent regulatory regimes regarding carbon emission & supportive policies of government for environment protection
- Europe: Increasing usage of composites in passenger car production & OEM

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Of late, product manufacturers have been focusing on two essential pointers – advanced joining technology and the development of VOC content free products. With the aim to curb VOC content, numerous European and North American countries have already deployed stringent regulatory framework. Indeed, this will prove to be beneficial for the giants in composite adhesives market as they look forward to developing new products while adhering to safety and health concerns.

For instance, 3M launched a next-generation low odor structural acrylic adhesive a few years back. In addition to health benefits, the product also provided the advantages of cost savings, performance, and productivity. This acrylic based structural adhesive particularly witnessed a huge demand across China, owing to its prominent use in the aerospace, construction, and marine sectors.

Speaking of which, acrylic composite adhesives industry across China has been forecast to register a CAGR of more than 7% over 2017-2024. The increasing investments in constructional activities such as airports, roads, dams, and bridge building across China may be the driving factor for the growth of this regional industry.

Top Key players are –

3M, Permabond, Masterbond, Hexcel, Henkel Adhesives, Sika AG, The Dow Chemical Company, LORD Corp, Ashland Inc., Bostik, Scott Bader, SciGRIP, Parson Adhesives, Inc., L&L Products, Delo Industrial Adhesives, LLC, DYMAX, Hernon Manufacturing, Inc., Hybond, Loxeal, Gurit Holdings, PRF Composite Materials, Huntsman, Covestro, Lincoln Composite Materials, Argosy International, Acralock, Chemique, Elantis, Allnex, Solvay, Aditya Birla Group, Plexus, ASI Adhesives, Hybond, Rubberlite

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