Composite Adhesives Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2023

Composite adhesives are the substance applied to bind the composites to themselves and to numerous different substrates. They are available in different forms such as liquid, paste, and film. Adhesives are categorized into two types based on the number of components. Two-component adhesives are made up of resin and hardener and can be cured at room temperature or at elevated temperatures. One component adhesives are premixed and can be cured only at elevated temperatures only (typically 250-300°F).

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Composite adhesives provide high mechanical strength and peerless performance even upon exposure to extreme conditions. Various types of resins such as epoxy, acrylic, polyurethane, methyl methacrylate, polyimide, phenolic, cyanoacrylate, silicone, and others are used to make different types of adhesives. Epoxy adhesives provide superior bonding with different types of substrate, excellent durability & strength with low shrinkage, superior chemical, heat & weather resistance, and excellent electrical insulation properties.

Polyurethane adhesives are widely used for marine applications owing to its ability to bond even in high moisture conditions, superior bonding with a non-porous substance such as wood, high UV resistance, and low VOC content. Methyl methacrylate adhesives provide faster curing, excellent adhesion, and material forms a strong thermoplastic with excellent resistance to shear, peel and impact stresses.

Growing popularity of composites in different end-use industries owing to its high strength to weight ratio, low cost, and easy fabrication is expected to be the key driver of the global composite adhesives market. For instance, over 50% constituents of an airplane are fabricated by composites such as rudder, engine cowlings, spoilers, airbrakes, and rear bulkhead elevators among other owing to its reduced weight and assembly simplification. In the automotive industry, many components such as steering wheel, energy absorber, dashboard, instrument cluster, roof, interior and exterior panel, and intelligent lighting systems are fabricated by composite materials on account of increasing demand for lightweight automotive components.

In the healthcare industry, composites are used in varied application such as in the form of sutures, heart valves, dental implants, vascular grafts, and pacemakers among others in order to replace or restore the role of degenerated tissues and organs to enable healing and enhance functions thereby improving the overall quality of the life of patients. In electrical & electronics industry, composite materials are used to make die attach, printed circuit boards, connectors, heat sinks, and thermal interface materials.

However, stringent regulations by EPA against the use of high VOC content materials in Europe and North America may hamper the composite market to some extent and thus adversely affect the composite adhesives market growth. Additionally, volatile pricing of raw materials used to make composite adhesives might hamper composite adhesives industry growth.

Market Segmentation

The global composite adhesives market is segmented by component, form, product type, end-use industry, and region.

On the basis of the component, the global composite adhesives market is segmented into one component and two component.

On the basis of the form, the global composite adhesives market is segmented into liquid, paste, film, and others.

On the basis of the product type, the global composite adhesives market is segmented into the epoxy, acrylic, polyurethane, methyl methacrylate, polyimide, phenolic, cyanoacrylate, silicone, and others. On the basis of the end-user industry, the global composite adhesives market is segmented into automotive & transportation, aerospace, healthcare, military & defense, electrical & electronics, wind energy, construction, marine, and others. On the basis of the region, the global composite adhesives market is segmented into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Regional Analysis

The global composite adhesives market is segmented into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.

North America accounted to have the major market share of the global composite adhesives market in 2017 owing to strong demand from different end-use industries such as aerospace, wind energy, electrical & electronics, healthcare, construction & infrastructure, and military & defense and is expected to exhibit steady growth over the forecast period 2018-2023.

Europe was the second largest composite adhesives market after North America in 2017 owing to high demand from end-use industries such automotive & transportation, electrical & electronics, wind energy, and construction & infrastructure and is expected to show steady growth during the forecast period.

Asia Pacific is expected to be the fastest growing market for composite adhesives due to rising demand for composites from the growing end-user industries such as automotive & transportation, military & defense, electrical & electronics, wind energy, healthcare, construction & infrastructure, marine & oil & gas and is expected to show bolstering demand over the forecast period. The Middle East & Africa is expected to drive demand mainly from the growing construction & infrastructural industry over the forecast period. Latin America is expected to show high demand mainly from the growing construction industry over the forecast period.

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Key Players

Some of the major players operating in the global composite adhesives market are Huntsman International LLC. (U.S.), Ashland. (U.S.), 3M (U.S.), Sika AG (Switzerland), ITW Engineered Polymers GmbH (Germany), Master Bond Inc (U.S.), Henkel AG & Co. KGaA (Germany), LORD Corporation (U.S.), Arkema SA (France), Permabond.com (U.S.), and H.B. Fuller Company. (U.S.).
Intended Audience

Composite adhesives manufacturers
Traders and distributors of composite adhesives
Research and development institutes
Potential investors
Raw material suppliers
Nationalized laboratory

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