LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global composite adhesives market is expected to grow at a CAGR of more than 7% during the predicted period.
This research report titled ‘Global Composite Adhesives Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The global composite adhesives market is expected to grow during the forecast period. Increasing use of composite adhesives in industries such as the automotive and transportation, marine, aerospace, and wind energy augments growth in the global composite adhesives market. Based on the resin type, epoxy is the leading segment in the market. Epoxy-based composite adhesives help create strong joints and are widely used in the wind energy sector. These adhesives bond the blades and strengthen them to withstand strong winds.
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Technavio’s analysts categorize the global composite adhesives market into five major segments by application. They are:
- Automotive and transportation
- Aerospace
- Wind energy
- Marine
- Others
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The top three segments based on application for the global composite adhesives market are discussed below:
Global composite adhesives market for automotive and transportation
One of the major factors contributing to the growth of the global composite adhesives market is the increasing use of composite adhesives in automotive and transportation sectors. These are lightweight materials used for joining composites and plastics. Adhesives help reduce weight, control emissions, and improve the impact resistance of the vehicles.
According to Chandrakumar Badala Jaganathan, a lead additive, adhesives, sealants research analyst from Technavio, “Governments across the world mandate the production of lightweight vehicles to decrease fuel consumption. Growing automotive industries in APAC and Europe drive the demand for composite adhesives. Stringent government regulations on limiting carbon dioxide emissions will increase the demand for lightweight vehicles, which will further lead to growth in the global composite adhesives market during the forecast period.”
Global composite adhesives market for aerospace
Composite adhesives are used in various aerospace bonding applications that use bonded composites and composites bonded to metals. They are lightweight and offer resistance, strength, durability, and stiffness. These are used as bonding agents in airframes and interior parts. The composite adhesives are used in special applications such as surfacing films, lightning strike protection, and shims.
“Growth in the aerospace industry leads to a subsequent growth in the global composite adhesives market. Entry of new players in the aerospace industry has led to an increase in aircraft manufacturing, which has fueled the demand for composite adhesives,” says Chandrakumar.
Global composite adhesives market for wind energy
Composite adhesives, especially epoxy adhesive, are used in rotor blades of wind turbines owing to their properties such as excellent stiffness and durability. High demand for green and renewable energy in North America and Europe drive the composite adhesives market. Epoxy resins are popularly used in the wind energy sector.
Composite adhesives are used in infusion, bonding, hand lamination, and tooling. High compressive strength, low weight, low density, and corrosion resistance enhance the effectiveness of composite adhesives.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Huntsman International
- 3M
- Ashland
- The Dow Chemical Company
- Sika
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