Curing Adhesives Market Research : International Size, Growth, Trends, Outlook and Future Scope Analysis 2030

Market Dynamics

Demand for curing adhesives market is increasing as their applications in the electronics industry expand. Additionally, the projected period is expected to be driven by the expanding application in automotive assembly lines and industrial items. Curative agents' capacity to connect diverse material such as glass, fiber, wood, and metals utilized in vehicle spare parts, furniture, and textile applications is expected to drive product demand over the next eight years. The increasing need for wood coatings to protect the surface from external elements such as moisture and temperature is a major driver driving the global market.

Additionally, the growing use of wood for a variety of purposes such as furniture, flooring, and decking has increased demand for curing adhesives. The ongoing development of the construction and housing industries in the Asia Pacific is expected to benefit the region. Additionally, the Asia-Pacific region's technical superiority is likely to generate profitable prospects for the industry. Increased renovation and building activities are the primary drivers of the curing adhesives industry. Construction application is predicted to grow at a faster rate in the next years as a result of the commercialization of a diverse range of remedial bonding solutions in a variety of subsectors, including flooring, wall coverings, tiling, insulation, and roofing.

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Segmental Analysis

The global market for curing adhesives has been categorized by resin type, product type, application, and region.

The global market for resins has been segmented into acrylate, epoxy, polyurethane, silicone, and others. Due to its rising uses in the electronics sector, the acrylate segment will account for the highest share of over 35% in 2020.

The global curing adhesives market has been segmented by product type into moisture cure, UV cure, and heat/thermal cure. Moisture cure adhesives dominated the global curing adhesives market in 2020, accounting for almost 40% of the market, owing to its rapid growth across the region, particularly in Asia-Pacific.

According to application, the worldwide curing adhesives market has been segmented into electronics & electrical and others. Due to the global rise of industries, the others category dominated the global curing adhesives market in 2020 with a share of more than 70%. The other part is comprised of the automobile, renewable energy, construction, and aerospace and defense industries.

Region Overview

North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa account for the majority of the worldwide curing adhesives market.

Asia-Pacific accounted for the greatest market share (35.5 percent) in 2020, owing to the region's increasing industrialisation and commercialization. Additionally, increased investments in the infrastructure and electronics sectors have boosted regional demand for curing adhesives.

In 2020, Europe was expected to hold the second-largest market share in the worldwide curing adhesives market. The regional market was estimated to be worth approximately USD 2,000 million in 2020. Germany held a greater share of the regional market and is predicted to grow at a faster rate than the rest of the region throughout the review period.

North America is likely to see a large increase in demand for curing adhesives due to their broad use in renewable energy and construction. The United States is the primary contributor to North America's regional market growth.

Competitive Dynamics

Key players operating in the global curing adhesives market include Henkel AG & Co. KGaA (Germany), Bostik (France), Sika AG (Switzerland), Dow (US), 3M (US), Wacker Chemie AG (Germany), H.B. Fuller (US), Dymax (US), Tosoh Corporation (Japan), DELO (Germany), Permabond LLC (UK), and Shin-Etsu Chemical Co., Ltd (Japan) among others.

 

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