Global Composite Adhesive Market set for Strong Growth By 2031

Global Composite Adhesive Market Size
 Global Composite Adhesive Market Size


The global composite adhesive market is growing at a rapid pace owing to the increasing demand from the aerospace industry. Composite adhesives are ideal for bonding composite materials such as carbon fiber and fiberglass due to their lightweight and high-strength properties. They provide durable bonds and help improve the performance of end-products by efficiently transferring loads across joints. Composite adhesives find extensive usage in joining metal substrates to composite components in aircrafts and spacecrafts. The growing aviation industry across the world is driving the demand for modern aircrafts with lightweight and fuel-efficient designs, thereby fueling consumption of composite adhesives.

The Global Composite Adhesive Market Size is estimated to be valued at US$ 3.58 BN in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024 to 2031.


Key Takeaways
Key players operating in the global composite adhesive market are Henkel AG & Co. KGaA, Master Bond Inc, The Dow Chemical Company, Huntsman Corporation, LORD Corporation, Illinois Tool Works Incorporation-Plexus., Hernon Manufacturing, Inc ., Scott Bader Company Ltd.

In terms of opportunities, the rising production of electric vehicles worldwide presents significant growth prospects. Automakers are increasingly employing composite materials in EVs to reduce weight and extend driving range on a single charge. This is expected to augment the demand for composite adhesives required for bonding various composite components in EVs over the next decade.

Geographically, North America dominates the global composite adhesive consumption driven by strong aerospace and automotive industries in the US and Canada. However, Asia Pacific is envisioned to witness the fastest growth on account of rapidly developing aerospace and transportation sectors along with increasing R&D investments in composite materials across China, India, and Japan. Key players are strengthening their presence in Asia to capitalize on lucrative opportunities in the region.

Market drivers:
Growing demand from the aviation industry: Increasing aircraft deliveries worldwide and shift toward lightweight aircrafts made of composites are majorly driving the composite adhesive market.

Market restraints:
High material and processing costs of composite adhesives: Composites adhesives usually have higher prices than conventional metal bonding adhesives, limiting their usage in cost-sensitive applications. Strength and durability testing requirements also push up production costs.

Segment Analysis
Epoxy sub segment dominates the composite adhesive market currently. Epoxy adhesives have high strength and heat resistance which makes it suitable for applications requiring permanent bonding between substrates. It is widely used in automotive and aerospace industries for structural bonding applications. Polyurethane sub segment is expected to witness significant growth during the forecast period owing to its high versatility and peel strength. Water-based sub segment is also growing steadily due to stringent regulatory norms regarding emission of volatile organic compounds.

Global Analysis
North America dominates the global composite adhesive market currently due to large presence of aerospace, automotive and other end use industries. Presence of major players and stringent environmental regulations regarding emission also contribute to the market growth. Asia Pacific exhibits highest growth rate during the forecast period. Increasing industrialization and urbanization in countries like China and India creates significant demand for composite adhesives from construction and automotive industries. Rising aerospace manufacturing activities in Japan also drive the demand. Government initiatives to reduce vehicle weight in order to comply with fuel emission norms augment automotive composite adoption across major regional markets.

 

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