According to a new market report published by Lucintel, the future of adhesives in the global composites industry looks attractive with opportunities in the automotive, aerospace, wind energy, marine, and other industries. Lucintel forecasts that adhesives in the global composites industry will grow at a CAGR of 7.3% from 2015 to 2020. The major drivers of growth for this market are the growth of end use industries, increasing focus of original equipment manufacturers on weight reduction with cost advantage, and replacement of fasteners with adhesives.
In this market, epoxy and polyurethane adhesives are mainly used in composites industry. Lucintel predicts that the demand for adhesives in the composites industry will experience a good growth during the forecast period, supported by growing demand in end user industries. On the basis of comprehensive research, Lucintel forecasts that the automotive and aerospace segments will show above average growth during the forecast period.
Within adhesives in the global composites industry, the automotive segment is likely to remain as the largest application by both value and volume. Increasing focus of automotive manufacturers on weight reduction and growing vehicle production in emerging markets are the major driving forces that are anticipated to spur growth for this segment over the forecast period.
APAC is expected to remain the largest market due to the growing wind energy industry and automotive production in this region.
North America is expected to show the highest growth over the forecast period due to increasing demand for composite materials in the automotive and aerospace industries and replacement of fasteners with adhesives.
For market expansion, this report suggests innovation and new product development, where the unique characteristics of adhesives can be capitalized. Some of the innovation could be in the areas of faster curing, high temperature, and fire retardant adhesive.
Emerging trends for adhesives in the global composites industry, which have a direct impact on the dynamics of the industry, include increased usage of adhesives in composite applications and development of new adhesives with a faster curing time. Henkel, 3M, Momentive, Dow Chemical, and Huntsman are among the major suppliers of adhesives in the composites industry.
Lucintel, a leading global strategic consulting and market research firm, has analyzed adhesives in the global composites industry by end-use application, product type, and region and has come up with a comprehensive research report, “Growth Opportunities for Adhesives in the Global Composites Industry 2015-2020: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for adhesives in the global composites industry through 2020, segmented by end-use application, product type, and region as follows:
By end-use application [value ($ million) and volume (million pounds) shipment analysis from 2009 to 2020]:
• Wind Energy
By product type [value ($ million) and volume (million pounds) shipment analysis from 2009 to 2020]:
• Epoxy Adhesive
• Polyurethane Adhesive
• Other Adhesives
By region [value ($ million) and volume (million pounds) shipment analysis from 2009 to 2020]:
• North America
• Asia Pacific
• Rest of the World
This 180-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or firstname.lastname@example.org. Lucintel offerings include Chemical Market Research Reports, Chemical Industry Analysis Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Analysis.