Composite Adhesives Demand is Projected to Reach a Value of US$ 6.3 Billion by 2033

PRESS RELEASE
Published April 22, 2023

The value of the global composite adhesives market is US$ 3.7 billion in 2023, which is estimated to increase at a CAGR of 5.5% to end up at US$ 6.3 billion by 2033.

Composite adhesives are substances that are used to adhere composites to each other and various other substrates. These products are available in different forms, including film, paste, and liquid. Adhesives are segmented into categories based on the count of components.

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Why Will the U.S. Witness High Sales of Composite Adhesives?

The American public spends a lot of money on various lifestyle goods. The manufacturing of electronics and electric vehicles has so increased significantly, which may result in an increase in the need for composite adhesives in the aforementioned industries. Additionally, American aircraft makers use composite adhesives to help boost sales.

In 2022, the market for composite adhesives in the United States was expected to generate more than US$ 840 million. Additionally, a CAGR of 4.6% is predicted for these adhesives’ Canadian sales between 2023 and 2033.

Growing demand for composite solutions across the automotive sector is attributed to the increased implementation of these products for the weight reduction of vehicles. Further, these solutions are also used to attain better fuel efficiency in newly designed automobiles. Thus, the booming automotive sector is estimated to drive lucrative opportunities for industry players.

Key Takeaways from Market Study

  • 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.

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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.

Key Companies Profiled:

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

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Segmentation of Composite Adhesives Industry Research

  • By Type :
    • Epoxy
    • Polyurethane
    • Acrylic
    • Cyanoacrylate
    • Others
  • By End Use :
    • Automotive & Transportation
    • Aerospace & Defense
    • Electrical & Electronics
    • Construction
    • Others

Key Questions Covered in the Composite Adhesives Market Report

  • What is the projected value of the Composite Adhesives factors Industry in 2023?
  • At what rate will the global Composite Adhesives factors market size grow until 2033?
  • Which are the factors hampering the growth of Composite Adhesives factors?
  • Which region is expected to lead in the global Composite Adhesives factors market By 2033?
  • Which are the factors driving the Composite Adhesives factors Industry during the forecast period?
  • What is the expected market value of the Composite Adhesives factors market during the forecast period?

Regional Analysis For Composite Adhesives Market:

  • APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
  • Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
  • North America (USA, Canada and Mexico)
  • South America (Brazil, Chile, Argentina, Rest of South America)
  • MEA (Saudi Arabia, United Arab Emirates, South Africa)

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This Press Release has been written with the intention of providing accurate market information which will enable our readers to make informed strategic investment decisions. If you notice any problem with this content, please feel free to reach us on mediarelations@xherald.com.

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