Curing Adhesives Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMCH1174 | Last Updated On: Jun 22 2022 | Available Formats

> Global Curing Adhesives Market Expected to reach a high CAGR By 2029: DataM Intelligence

Global Curing Adhesives Market is segmented By Product (UV Cure, Moisture, Others), By Resin (Epoxy, Polyurethane, Acrylate, Others), By End User (Automotives, Aviation & Aerospace, Medical, Construction, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The Global "Curing Adhesives Market" is expected to grow at a high CAGR during the forecasting period (2022-2029).

Curing adhesives are reactive materials that require a chemical reaction to convert them from liquid (or thermoplastic) to solid. Once cured, these adhesives generally provide high strength, flexible to rigid bond lines that resist temperature, humidity, and many chemicals. 

 

Market Dynamics

The major growth drivers for this market are growth in the production of light commercial vehicles and passenger cars and an increase in the demand for lightweight materials.

Currently, automotive manufacturers are using more lightweight components such as plastics and composite materials. These materials work well for reducing the weight of a vehicle and improving fuel efficiency. But on the other side, they also present a challenge during the assembly process. When have to integrate a non-metal component into a metal component, the manufacturer needs to bond the parts together using a powerful adhesive that will propel curing adhesives market growth.

However, fluctuating raw material prices hinder market growth. 

Market Segmentation  

Based on the end-user, the global curing adhesives market is broadly segmented classified into automotive, aviation & aerospace, medical, construction, and others. Among all of the end-users, automotive industry dominates the market in terms of lightweight design components with improved mechanical strength.

The number of automotive applications for adhesives is growing, According to the information from 3M Company. Further, the automotive industry has been undergoing an intense change in recent years. The development of hybrid cars and electric vehicles is accelerating faster than ever, while the era of self-driving cars is quickly approaching. Under these conditions, the focus on automotive adhesive properties is changing. In the past few years, all attention was on adhesiveness and durability, but this is shifting towards the safety and comfort of the people riding in the car, putting even greater emphasis on the need for a new generation of adhesives. As such, many companies are continually developing new adhesives day after day to provide up-to-date products that respond to the changing needs of consumers and automobile manufacturers alike, such as adhesives that are increasingly effective in reducing chemical substances within the car itself.

Geographical Analysis

Based on the region, the global curing adhesives market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Among all of the regions, Asia Pacific dominated the global curing adhesives market owing to rapid industrialization and growing demand from automotive industry. The rising volumes of production and an increase in the number of variants of vehicles sold around the globe have further propelled the demand for curing adhesives market.

Furthermore, according to the International Organization of motor vehicles manufacturers (OICA), out of the 96.8 million vehicles sold globally, more than 48 million cars were sold in the Asia Pacific region with China alone accounting for more than 29 million car sales followed by 5.2 million in Japan and 4 million in India. The number of cars sold in the Asia Pacific region in 2016 was 4.69 million compared to 4.34 million in 2015. This is expected to provide huge opportunities for manufacturers and distributors who are seeking to extract profits out of this market.

Competitive Analysis

Global curing adhesives market is fragmented with the presence of many local and international players. The versatility in product features and opportunities of market growth through new product launches is poised to intensify competitiveness among companies.

The companies aim to strengthen global market position through business expansion and expanded product portfolio regarding commercial volume.

For instance, in 2018. DELO Industrial Adhesives has introduced 2 curing LED Lamps with High Intensity & Improved Efficiency. A new generation of area lamps with a wavelength of 365 nm has a more compact shape and improved energy efficiency.

In May 2017 - DELO, one of the worlds leading manufacturers of industrial adhesives for automotive, consumer, and industrial electronics, introduced a new adhesive for optoelectronic applications. DELO DUALBOND OB786 is ideal for fixing components within seconds while ensuring precision and high strength. 

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