Press release
North America Composite Adhesives Market to register appreciable gains through 2024
Composite Adhesives Market
This rise is prominently attributed to the escalating demand for adhesives used in composites across a broad range of industries comprising construction, automotive, aerospace, consumer electronics, domestic appliance, biomedical/dental, marine, general industrial, industrial-machine, and sports equipment.
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Surging structural adhesive demand to drive composite adhesives industry expansion
Various properties of structural adhesives including increase in durability, handling of high stress levels, reduction in component weight, and provision of better design latitude have been instrumental in creating an escalated demand for these types of composite adhesives.
Structural adhesives chiefly comprise polyurethane, acrylic, and epoxy glues, which are cheaper as compared to other fixing media and are also preferred for their aesthetic advantages comprising cleaner finishes.
For instance, the epoxy glues manufactured by Master Bond fix a wide variety of surfaces such as boron, metals, fiberglass, glass, ceramics, polyimide, rubbers and plastics, Kevlar, and carbon/graphite amongst others.
Growing popularity of these resin composite adhesives owing to advantages of cryogenic shock resistance, mechanical shock resistance, resistance to chemicals, resistance to thermal cycling, low shrinkage, electrical insulation, and serviceability in extreme temperatures will spur composite adhesives market outlook in the forthcoming years.
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Rising product innovations by major industry participants
Increasing number of technological advancements coupled with rising product development initiatives by key industry players is likely to propel composite adhesives market growth through the forecast period.
Prominent players in the composite adhesives market comprise Sika AG, Scott Bader, Delo Industrial Adhesives, Inc., Covestro, Lincoln Composite Materials, Solvay, Gurit Holdings, and Loxeal amongst others.
One of the key industry participants, L&L Products, is noted for putting tremendous focus on accelerating research and development efforts around the use of adhesives in composites. The organization has a team of over 100 scientists at the global level that constantly focuses on developing new methods of bonding multi-materials in a more efficient and less wasteful manner.
U.S. to be a major contributor to North America composite adhesives market over the forecast period
North America composite adhesives market will witness massive growth proceeds in the ensuing years, state reports.
According to the American Composites Manufacturers Associations, the composites industry in the United States contributes a remarkable annual valuation of USD 22.2 billion with the end-product market set to reach a revenue of USD 113.2 billion by 2020.
Myriad composite adhesive applications pertaining to storage tanks, launch vehicles, aerospace components, perforated panel assembly, lightning strike protection, and consumer goods packaging amongst others will, thus, drive composite adhesives market growth through the coming years. Surging research and development initiatives coupled with lucrative potential of job generating will further impel industry expansion.
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Arun Hegde
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Global Market Insights, Inc.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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