Composite Adhesives Market Growth is Expected to Accelerate at a Whopping 5.5% CAGR by 2032

The global composite adhesives market is expected to grow from its current value of US$ 3.7 billion in 2023 to US$ 6.3 billion by 2033 at a CAGR of 5.5%.
Composites are attached to other composites as well as a variety of substrates using substances known as composite adhesives.

These products come in a variety of formats, including liquid, paste, and film. According to the number of components, adhesives are divided into different groups.

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For instance,
 According to Airbus Global Market Forecast (from 2021 to 2040), around 15,250 new aircraft are projected to be delivered in the next 20 years that will replace less fuel-efficient older models.

Key Pioneers

 Ashland Inc.
 Dymax Corporation
 The DOW Chemical Company
 Engineered Bonding Solutions
 Huntsman Corporation
 Master Bond Inc.
 Royal Adhesives & Sealants, LLC
 Scott Bader Company Ltd.

Key Upshots

 The global composite adhesives market is valued at US$ 3.7 billion in 2023.
 The market is forecasted to register a CAGR of 5.5% from 2023 to 2033.
 The Canadian market is expected to increase at a CAGR of 4.6%.
 The market for composite adhesives is projected to reach a value of US$ 6.3 billion by the end of 2033.

Competitive Landscape

Based on the rising demand for composite adhesives, market players are investing at an increased rate to expand their manufacturing units. They are also entering into mergers & acquisitions for their business expansion.

For instance:

 Meridian Adhesives Group, in December 2021, acquired American Sealants Inc. The latter is a manufacturer of assembly sealants and adhesives. The acquisition aims to value addition to the portfolio of Meridian Adhesives Group while extending its reach as a provider of high-performance sealants and adhesives.
 Tesa SE, in April 2021 announced the investment of EUR 32 million (USD 36.39 million) for the expansion of the manufacturing capacity of their plant that is in Suzhou, China. This will cater to the increasing demands that are coming from electronic manufacturers.
 Jaguar Land Rover, in January 2021, announced to improve the efficiency of fuel of its newly launched electric vehicles over the coming years through the application of lightweight composite materials.

Industry Survey

By Type :

 Epoxy
 Polyurethane
 Acrylic
 Cyanoacrylate
 Others

By End Use :

 Automotive & Transportation
 Aerospace & Defense
 Electrical & Electronics
 Construction
 Others

By Region :

 North America
 Europe
 Asia Pacific
 Latin America
 Middle East & Africa

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This release was published on openPR.