Engineering Adhesives Market to Perceive Substantial Growth During 2024
A
material used to hold two surfaces together is called an adhesive. An
adhesive functions by wetting the two surfaces, adhering to them,
developing and maintaining strength after application, and remaining
stable. Engineering adhesives are a type of adhesives that are widely
used to bond and seal parts of automobiles, electric appliances,
electronics, office machines, medical equipment, building materials,
furniture, rolling stocks, optical equipment, and glass ceramics.
These adhesives are mostly made up of acrylics, epoxies, and
urethanes. Based on epoxy, polyurethane, acrylic, and other
technologies, engineering adhesives are used to bond materials such
as steel, aluminum, engineering plastics, and composites as a
substitution for traditional joining techniques. Major types of
engineering adhesives are epoxy (one part, two part, and films),
acrylic, anaerobic, cyanoacrylate, urethane, and silicone.
Read
Report Overview @
Engineering
adhesives contribute to approximately 30% of the global market for
adhesives. The segment is expected to expand at a rate significantly
above the average growth rate of the adhesives industry. The market
is characterized by technology formulations that provide high-value
solutions to meet specific customer requirements. These adhesives are
used in diverse industries such as automobiles, aerospace, rail
transport, electronics and communication, electric appliances,
construction, telecom, consumer goods, marine and off-shore
operations, and furniture. Engineering adhesives mostly compete with
traditional joining techniques such as fasteners and welding. These
adhesives provide uniform distribution of weight as compared to
fasteners or welded joints.
Non-metal
substrates that are light in weight and cost less are increasingly
used in the construction industry. This is expected to act as a major
driver for the engineering adhesives market in the next few years.
Major end-user industries such as aerospace, road transport, marine,
rail, electronics and communication, and sports and leisure are
continuously upgrading their engineering activities to make
components lightweight and cost-effective, providing more
opportunities for engineering adhesives. Currently, steel and wood
substrates are increasingly replaced with lightweight components such
as aluminum, engineering plastics, and composites. This, in turn,
boosts demand for high-performance adhesives, which are replacing
traditional metal joining techniques.
Presently,
engineering adhesives is valued at approximately US$ 13 Bn and is
likely to expand at a CAGR of approximately 4% from 2015 to 2023.
This estimated growth rate is more than the average growth rate of
the global adhesives and sealants market. Growth is primarily driven
by the ever-advancing industries and technologies and increasing need
for well-engineered and sophisticated bonded parts.
Request
to view Sample Report:
The
market for engineering adhesives is dominated by major players that
include large corporations such as Henkel AG & Co. KGaA, Huntsman
Advanced Materials, Dow Corning Corporation, Permabond, PPG
Industries, 3M Company, H. B. Fuller, Evonik Industries, Sika AG,
Royal Adhesives & Sealants, RPM International, Inc., Ashland
Inc., Illinois Tool Works Inc., MACtac, MAPEI, LORD Corporation,
Jowat Corporation, and Arkema S. A.
About
Us
Transparency
Market Research (TMR) is a global market intelligence company
providing business information reports and services. The company’s
exclusive blend of quantitative forecasting and trend analysis
provides forward-looking insight for thousands of decision makers.
TMR’s experienced team of analysts, researchers, and consultants
use proprietary data sources and various tools and techniques to
gather and analyze information.
TMR’s
data repository is continuously updated and revised by a team of
research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
Contact
Transparency
Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel:
+1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
Comments
Post a Comment