Global Composite Adhesives Market size was valued at USD 3.9 Billion in 2023 and is expected to reach USD 6.6 Billion by 2032, at a CAGR of 5.4% during the forecast period 2023 – 2032.
Composite Adhesives Market: Overview
Composite adhesives are specifically formulated adhesives intended to connect composite materials. Composite materials are created by mixing two or more basic materials having vastly differing physical or chemical characteristics to produce a material with improved qualities.
Carbon fiber-reinforced polymers (CFRP), fiberglass-reinforced plastics (FRP), and aramid fiber composites such as Kevlar are among the most common composite materials.
The worldwide composite adhesives industry is seeing numerous important changes. One notable trend is the growing demand for lightweight materials in a variety of industries, notably automotive, aerospace, and wind energy, driven by demands for fuel economy and sustainability.
This need is driving an increasing preference for composite materials, which in turn stimulates demand for specialist adhesives designed to efficiently link these materials together.
Furthermore, there is an increasing emphasis on producing high-performance composite adhesives with improved qualities such as strength, durability, and resistance to the environment. Technological advances, such as the creation of novel formulas and application methods, are also influencing the industry.
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Moreover, manufacturers are concentrating on increasing their product portfolios and geographic presence to adapt to the changing demands of end users.
By resin, epoxy segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032.
Epoxy is an influential player in the composite adhesives market owing to its exceptional bonding strength, adaptability across various substrates such as composite materials, metallic substances, and plastics, durability against chemicals and environmental factors, and ability to offer durable and long-lasting bonds, which make it a popular choice for demanding applications in a variety of industries.
By application, the automotive segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. The automotive sector is driving the composite adhesives market because of the growing need for lightweight materials to improve fuel economy and decrease emissions.
Composite adhesives provide strong bindings for combining lightweight components such as carbon fiber-reinforced plastics, assisting in the creation of fuel-efficient automobiles and electric vehicles with long ranges.
Asia-Pacific dominates the mixed adhesives market due to increasing industrialization, infrastructure development, the need for lightweight materials, emphasis on sustainability, the existence of large manufacturing centers, and technical breakthroughs.
3M™ Hi-Tack Composite Spray Adhesive 71 maximizes the strength of composite products. 3M™ Scotch-Weld™ Multi-Material Composite Urethane Adhesive DP6310NS provides exceptional durability and reliability.
CMI has comprehensively analyzed the Global Composite Adhesives market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict in depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Global Composite Adhesives industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.
List of the prominent players in the Composite Adhesives Market:
- Henkel AG & Co. KGaA
- 3M Company
- Sika AG
- Huntsman Corporation
- B. Fuller Company
- LORD Corporation
- Permabond Engineering Adhesives
- L&L Products Inc.
- Scott Bader Company Ltd.
- Gurit Holding AG
- Hexcel Corporation
- Dow Chemical Company
- Arkema Group
- Ashland Global Holdings Inc.
- Avery Dennison Corporation
- Mitsubishi Chemical Corporation
- Toray Industries, Inc.
- Solvay S.A.
- ITW Performance Polymers
- Jowat SE
- Others
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