The global curing adhesives market is expected to reach USD 18.8 billion by 2025, according to a new report by Grand View Research, Inc. The industry is anticipated to grow significantly over the forecast period owing to rising applications in automotive and construction industry to cater consumer demand for diverse product features.
U.S. Environmental Protection Agency Office of Air Quality Planning and Standards provides various standards and acts for environmental protection against the use of harmful synthetic chemical while manufacturing these products.
Acrylate resin was the leading raw material segment with over 30% share of the overall market volume in 2016. Acrylate resin are preferred in UV curing adhesives owing to the ability of product for humid and water resistance coupled with good resistance impact strength. Ideal bonding properties of UV cure agents used in glassware, glass furniture, and clear plastic, has contributed towards higher demand of UV curative bonding agents in medical and optical devices over the past few years.
Polyurethane emerged as second largest resin segment accounting for a revenue share of over 22% in 2016. It holds added advantage over other conventional counterparts such as epoxy adhesives since they can be set in high moisture conditions. Growing automotive and construction industries in countries such as China, India, and Germany is expected to provide an opportunity for curative bonding agents over the next eight years.
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Further key findings from the report suggest:
- The global curing adhesive demand was over 1.9 million tons in 2016 and is anticipated to grow at a CAGR of 6.1% from 2017 to 2025
- Moisture curing bonding agents was the largest product segment in 2016, owing to the high product demand in construction sector
- Electronics & electrical end-use sector is expected to witness the highest growth for curing adhesives over the next few years, owing to ongoing technological innovation and advancement, and is expected to account for 20.6% of revenue share by 2025
- Asia Pacific emerged as the largest and fastest growing regional market with an estimated CAGR of 8.2% over the forecast period. High production capacities for automotive, and electronic sectors in Asia Pacific has led to the enhancement of curing adhesives demand over the past few years.
- The European market is estimated to witness moderate CAGR of 7.2% in terms of revenue growth over the forecast period.
- The major players operating in the curing adhesives market comprise H.B. Fuller, Henkel Adhesives, Dow Corning, 3M Company, Bostik, Sika AG, and Dymax Corporation. The market players are majorly focusing on the strategy of integration with raw material supplier or distributors to enhance the supply chain efficiency.
Grand View Research has segmented the global curing adhesives market on the basis of resin, product, end-use:
Curing Adhesives Resin Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Curing Adhesives Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- UV cure
- Moisture cure
- Thermal cure
Curing Adhesives End-use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- Electronics & Electrical
- Wood working
Curing Adhesives Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- Central & South America (CSA)
- Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.